Map Options

Color Scheme:
map placeholder
PPP Int

0.5

1

3

10

100

1000

5000

9000

Click on a country for details.

Purchasing Power Parity by Country 2024

Purchasing Power Parity (PPP) is a monetary conversion rate used to enable country-to-country comparisons of economic indicators including Gross Domestic Product (GDP), Gross National Income (GNI), GDP per capita, and GNI per capita. Purchasing Power Parity compares the prices of roughly 1,000 common products in each nation (the most famous example being the McDonald's Big Mac), then determines the number by which one country's money would need to be multiplied in order to purchase the same goods and services in another country (usually the US). This number is the country's PPP conversion factor, or exchange rate.

For example, if a Big Mac costs 12.00 in a country's local currency (pesos, rubles, etc.) and $5 in the US, that country's PPP exchange rate is 12/5, or 2.4, which means that a single unit of that country's currency would need to be multiplied by 2.4 to equal one US dollar. An alternate way to express this rate would be that a US dollar is worth 2.4 of that country's currency.

The purpose of the Purchasing Power Parity exchange rate is to convert each country's local currency into a common baseline currency—usually the US dollar or the International dollar, a fictional currency specifically designed for such a purpose. Thus, economic performance can be compared using a single common currency rather than dozens of national currencies whose market exchange rates can change rapidly.

PPP conversion factor is an inverse value, meaning a higher PPP such as Pakistan's (41.95) represents less purchasing power than does a low PPP such as Luxembourg's (0.85). As such, a numerically lower PPP is generally considered preferable. However, PPP by itself offers little insight into a country's economic health and is very rarely considered on its own. Rather, it is most often used as a tool for calculating other economic indicators, such as GDP or GNI.

Top 10 Countries with the Highest PPP Conversion Factor (Lowest Purchasing Power) (2021 INT$):

Country
PPP Int
Iran$64,529
Somalia$9,286
Vietnam$7,198
Lebanon$6,724
Indonesia$4,851
Guinea$4,132
Laos$3,072
Paraguay$2,688
Uzbekistan$2,613
Colombia$1,391

Advantages and disadvantages of Purchasing Power Parity (PPP)

The major advantage PPP holds over the standard market exchange rate is relative stability. While the market exchange rate for currency can be quite volatile, PPP fluctuates much less over time, making it preferable in many cases. PPP also does a better job of accounting for the costs of products and services that are typically not traded internationally, such as concert tickets, a five-mile ride in a taxi, or a wedding planner. These purchases tend to cost less in low-income countries than in high-income countries, and failing to account for them could result in an inaccurate calculation of a country's purchasing power, cost of living, and quality of life.

On the downside, PPP is much more logistically challenging to measure than a simple market-based exchange rate. It also involves a significant amount of educated estimation, especially in the time between price surveys or for countries in which certain prices are unavailable or untracked. As a result, the accuracy of PPP can drift over time, until updated prices are incorporated.

Download Table Data

Enter your email below, and you'll receive this table's data in your inbox momentarily.

Country
PPP Int
GDP Per Capita
Data Year
Iran$64,52918261.802022
Somalia$9,2861711.002022
Vietnam$7,19813461.002022
Lebanon$6,72414330.502022
Indonesia$4,85114657.802022
Guinea$4,1323188.102022
Laos$3,0729387.402022
Paraguay$2,68815982.602022
Uzbekistan$2,6139535.702022
Colombia$1,39120268.702022
Cambodia$1,3485355.202022
Uganda$1,2792693.102022
Madagascar$1,1931774.702022
Mongolia$1,11114260.302022
DR Congo$9821337.802022
Tanzania$8863099.202022
South Korea$83250330.502022
Iraq$79210865.402022
Burundi$739836.502022
Myanmar$4615019.702022
Chile$44330208.802022
Republic of the Congo$3814335.102022
Rwanda$3562793.202022
Malawi$3531732.602022
Costa Rica$34325237.102022
Gabon$33416465.002022
Zimbabwe$2912607.902022
Central African Republic$274973.202022
Chad$2681668.602022
Equatorial Guinea$25417620.702022
Niger$2431505.502022
Ivory Coast$2376540.502022
Senegal$2374210.402022
Togo$2262601.802022
Cameroon$2224398.002022
Guinea Bissau$2212191.202022
Angola$2156976.002022
Mali$2062518.902022
Burkina Faso$2032549.902022
Benin$2004057.502022
Comoros$1813833.702022
Kazakhstan$17230820.102022
Hungary$16441740.902022
Armenia$16118965.702022
Nigeria$1585862.202022
Sudan$1454217.402022
Iceland$14369615.502022
Vanuatu$1133290.602022
Japan$9845583.802022
Djibouti$955893.202022
Yemen$943437.402013
Guyana$9042089.902022
Jamaica$7811938.902022
Sri Lanka$7614410.202022
Argentina$6726530.302022
Haiti$573306.202022
Algeria$4713226.802022
Cape Verde$458716.002022
Serbia$4523914.202022
Pakistan$446351.002022
Kenya$435765.802022
Albania$4118603.402022
Nepal$344726.602022
Bangladesh$317397.502022
Uruguay$3028851.502022
Russia$2936307.802022
Dominican Republic$2422841.102022
Mozambique$241477.302022
Kyrgyzstan$235988.602022
India$238400.402022
Bhutan$2112795.402021
North Macedonia$1920328.902022
Philippines$1910136.602022
Afghanistan$191673.102021
Gambia$182496.502022
Ethiopia$182812.502022
Mauritius$1726979.102022
Sao Tome and Principe$144061.802022
Czech Republic$1349195.002022
Mauritania$126295.802022
Nicaragua$126877.102022
Thailand$1220679.102022
Ukraine$1212675.402022
Honduras$116743.302022
Mexico$1022298.202022
Norway$9114929.502022
Sweden$965157.002022
Suriname$817773.502022
Maldives$725124.602022
Namibia$711531.302022
South Africa$715920.402022
Moldova$715719.202022
Solomon Islands$72655.002022
Denmark$674897.002022
Seychelles$629771.702022
Zambia$63975.602022
Eswatini$610699.502022
Lesotho$62646.202022
Hong Kong$669072.302022
Eritrea$51628.802017
Botswana$518329.802022
Trinidad and Tobago$527515.502022
Turkey$537445.202022
Egypt$515096.002022
Macau$561231.002022
China$421482.602022
Guatemala$410821.802022
Israel$449754.802022
Morocco$49547.702022
Sierra Leone$31930.902022
South Sudan$31181.902015
Ghana$36473.102022
Qatar$3114049.202022
Venezuela$317402.302011
Brazil$317827.602022
Bolivia$39737.702022
Papua New Guinea$24432.802022
Tajikistan$24886.702022
United Arab Emirates$288489.002022
Barbados$218210.102022
Antigua and Barbuda$226365.502022
Saint Lucia$217835.702022
Saudi Arabia$259279.902022
Poland$244134.602022
Peru$215052.502022
Romania$241259.502022
Turkmenistan$215628.502022
Dominica$213540.202022
Saint Kitts and Nevis$233981.802022
Samoa$26089.602022
Malaysia$233525.302022
Grenada$217082.902022
Tonga$16778.502021
New Zealand$152149.202022
Saint Vincent and the Grenadines$117212.402022
Australia$163216.102022
Tuvalu$15423.002022
Libya$123382.702022
Curacao$127302.202022
Sint Maarten$149540.902022
Nauru$113021.402022
Belize$111189.902022
Bermuda$195868.802022
Canada$158347.702022
Aruba$148750.302022
British Virgin Islands$12017
Switzerland$184649.902022
Kiribati$12365.502022
Turks and Caicos Islands$124471.502022
United States$176329.602022
Cayman Islands$184279.602022
Georgia$120172.102022
Micronesia$13854.902022
Tunisia$112483.602022
Belarus$122550.602022
Singapore$1127606.802022
Marshall Islands$17092.002022
Puerto Rico$140511.002022
Luxembourg$1140616.402022
Palau$115572.702021
Finland$159470.102022
Fiji$114632.202022
Ireland$1126837.302022
Bulgaria$133845.602022
Bahamas$140942.802022
Netherlands$170869.402022
Azerbaijan$117828.602022
Brunei$169297.902022
Germany$163521.902022
Austria$167874.902022
Belgium$165478.402022
France$155387.502022
Bosnia and Herzegovina$119990.802022
United Kingdom$154929.802022
San Marino$167983.002021
Italy$152804.002022
Spain$146331.702022
Cyprus$151322.702022
Estonia$146556.402022
Malta$155865.802022
Portugal$141862.702022
Palestine$16759.002022
Slovenia$148302.502022
Slovakia$137457.202022
Greece$137075.102022
Latvia$139825.302022
Timor Leste$14657.402022
Ecuador$112826.402022
Lithuania$048860.702022
El Salvador$011098.102022
Panama$039292.702022
Croatia$040240.002022
Liberia$01570.502021
Montenegro$027027.502022
Cuba$02011
Jordan$011209.902022
Oman$041738.202022
Kuwait$058349.202022
Bahrain$061248.202022
showing: 199 rows

Which country has the highest purchasing power parity?

At 39,001.99, the country with the Highest PPP, or the lowest purchasing power, is Iran.

Frequently Asked Questions

Sources