Libya vs Papua New Guinea: PPP conversion factor, GDP
PPP conversion factor, GDP over time
- Libya
- Papua New Guinea
How they compare
Papua New Guinea currently reports 2.39 LCU per international $ against 2.07 LCU per international $ in Libya, a difference of 0.3165 LCU per international $.
That makes Papua New Guinea's figure about 1.2 times Libya's.
Across all 36 years both countries report, Papua New Guinea has been ahead every year.
Globally, Libya ranks 122nd and Papua New Guinea ranks 119th of 204 countries.
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About this data
The purchasing power parity (PPP) conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of gross domestic product (GDP) and its expenditure components. This conversion factor is for the level of GDP and the base currency is the US dollar.