Trinidad and Tobago - 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 Trinidad and Tobago was 0.616 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.692 in 2008 and a minimum value of 0.393 in 1998.

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 0.588
1991 0.578
1992 0.526
1993 0.444
1994 0.445
1995 0.452
1996 0.448
1997 0.408
1998 0.393
1999 0.404
2000 0.442
2001 0.450
2002 0.419
2003 0.451
2004 0.478
2005 0.525
2006 0.517
2007 0.567
2008 0.692
2009 0.494
2010 0.546
2011 0.616
2012 0.637
2013 0.670
2014 0.683
2015 0.665
2016 0.616
2017 0.614
2018 0.634
2019 0.618
2020 0.616

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