Venezuela - PPP conversion factor
PPP conversion factor, GDP (LCU per international $)
The value for PPP conversion factor, GDP (LCU per international $) in Venezuela was 2.68 as of 2011. As the graph below shows, over the past 21 years this indicator reached a maximum value of 2.68 in 2011 and a minimum value of 0.01 in 1990.
Definition: Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market as U.S. dollar would buy in the United States. This conversion factor is for GDP. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).
Source: World Bank, International Comparison Program database.
See also:
| Year | Value |
|---|---|
| 1990 | 0.01 |
| 1991 | 0.01 |
| 1992 | 0.02 |
| 1993 | 0.02 |
| 1994 | 0.04 |
| 1995 | 0.05 |
| 1996 | 0.11 |
| 1997 | 0.15 |
| 1998 | 0.18 |
| 1999 | 0.22 |
| 2000 | 0.28 |
| 2001 | 0.30 |
| 2002 | 0.39 |
| 2003 | 0.51 |
| 2004 | 0.67 |
| 2005 | 0.84 |
| 2006 | 0.96 |
| 2007 | 1.08 |
| 2008 | 1.38 |
| 2009 | 1.48 |
| 2010 | 2.14 |
| 2011 | 2.68 |
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 Venezuela was 0.625 as of 2011. As the graph below shows, over the past 21 years this indicator reached a maximum value of 0.826 in 2010 and a minimum value of 0.246 in 1994.
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 | 0.258 |
| 1991 | 0.250 |
| 1992 | 0.261 |
| 1993 | 0.252 |
| 1994 | 0.246 |
| 1995 | 0.307 |
| 1996 | 0.276 |
| 1997 | 0.310 |
| 1998 | 0.325 |
| 1999 | 0.365 |
| 2000 | 0.412 |
| 2001 | 0.409 |
| 2002 | 0.334 |
| 2003 | 0.320 |
| 2004 | 0.354 |
| 2005 | 0.403 |
| 2006 | 0.449 |
| 2007 | 0.505 |
| 2008 | 0.645 |
| 2009 | 0.690 |
| 2010 | 0.826 |
| 2011 | 0.625 |
PPP conversion factor, private consumption (LCU per international $)
Definition: Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market as U.S. dollar would buy in the United States. This conversion factor is for private consumption (i.e., household final consumption expenditure). For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).
Source: World Bank, International Comparison Program database.
See also:
| Year | Value |
|---|---|
| 2008 | 1.50 |
| 2009 | 1.91 |
| 2010 | 2.41 |
| 2011 | 2.94 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: Purchasing power parity
