PPP conversion factor, GDP (LCU per international $)

Definition

The number of units of a country's currency required to buy the same amount of goods in the domestic market as one US dollar would buy in the United States.

Plain English

The PPP conversion factor tells you how many units of local currency you would need to buy the same basket of goods that one international dollar buys in the US, effectively measuring how expensive or cheap a country is relative to the US.

Countries (205)