PPP Conversion Factor - Ranking 2024

The 2025 World Bank PPP conversion factors reveal a stark divergence in price levels, with the top of the ranking dominated by economies experiencing severe currency devaluation or administered exchange rates. Iran leads at 137,802.8 local currency units per international dollar, reflecting prolonged sanctions and monetary instability, while Lebanon follows at 28,792.9, a consequence of its catastrophic financial collapse since 2019. These high coefficients indicate that a given international dollar buys vastly more local currency, underscoring deep purchasing power erosion. At the bottom, Bahrain (0.1691), Oman (0.1951), and Kuwait (0.2014) are wealthy Gulf oil exporters that maintain strong, often pegged currencies against the U.S. dollar, keeping their PPP factors low. This structural reliance on hydrocarbon revenues and fixed exchange regimes insulates them from the inflationary dynamics afflicting the top-ranked peers. Should Iran or Lebanon achieve monetary stabilization or oil-dependent states diversify their economies, the leaderboard could see significant shifts in future iterations.