Jamaica - Price level ratio of PPP conversion factor (GDP) to market exchange rate

The value for Price level ratio of PPP conversion factor (GDP) to market exchange rate in Jamaica was 0.505 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.636 in 2012 and a minimum value of 0.277 in 1992.

Definition: Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amount of goods and services in the domestic market as a U.S. dollar would buy in the United States. The ratio of PPP conversion factor to market exchange rate is the result obtained by dividing the PPP conversion factor by the market exchange rate. The ratio, also referred to as the national price level, makes it possible to compare the cost of the bundle of goods that make up gross domestic product (GDP) across countries. It tells how many dollars are needed to buy a dollar's worth of goods in the country as compared to the United States. PPP conversion factors are based on the 2011 ICP round.

Source: World Bank, International Comparison Program database.

See also:

Year Value
1990 0.382
1991 0.336
1992 0.277
1993 0.381
1994 0.368
1995 0.425
1996 0.470
1997 0.531
1998 0.551
1999 0.543
2000 0.534
2001 0.526
2002 0.537
2003 0.493
2004 0.511
2005 0.543
2006 0.544
2007 0.560
2008 0.593
2009 0.544
2010 0.595
2011 0.626
2012 0.636
2013 0.591
2014 0.566
2015 0.558
2016 0.527
2017 0.528
2018 0.538
2019 0.527
2020 0.505

Statistical Concept and Methodology: The ratio of the PPP conversion factor to the market exchange rate - the national price level or comparative price level - measures differences in the price level at the gross domestic product (GDP) level. The price level index tends to be lower in poorer countries and to rise with income.

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Purchasing power parity