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Purchasing power parity conversion factor for private consumption

(LCU per international dollars)

Republic of Korea is the top country by PPP for private consumption in the world. As of 2017, PPP for private consumption in Republic of Korea was 1,006.8 LCU per international dollars that accounts for 47.45 % of the world's PPP for private consumption. The top 5 countries (others are Chile, Iceland, Hungary, and Japan) account for 88.68 % of it. The world's total PPP for private consumption was estimated at 2,121.8 LCU per international dollars in 2017.

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What is PPP for private consumption?

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).