Slovak Republic - 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 Slovak Republic was 0.614 as of 2020. As the graph below shows, over the past 28 years this indicator reached a maximum value of 0.790 in 2008 and a minimum value of 0.407 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
1992 0.407
1993 0.415
1994 0.467
1995 0.554
1996 0.553
1997 0.510
1998 0.521
1999 0.527
2000 0.477
2001 0.462
2002 0.493
2003 0.616
2004 0.702
2005 0.703
2006 0.696
2007 0.759
2008 0.790
2009 0.719
2010 0.666
2011 0.705
2012 0.648
2013 0.652
2014 0.645
2015 0.545
2016 0.557
2017 0.583
2018 0.621
2019 0.604
2020 0.614

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