"has been equivalent to" is correct and can be used in written English.
You can use it to compare one thing to another using the same value or quality. For example: "The effort he has put in has been equivalent to working full-time for a year."
Growth over the past eight months has been equivalent to around 4% per annum.
That has been equivalent to the Lorentz forces in ITER TF coils.
The drop in stockmarket wealth over the past year has been equivalent to more than 40% ofGDP.
Investment in China has been equivalent to around half of GDP, more than three times what it is in Britain (a not very relevant comparator), and about 50% greater than it was in Japan just before that economy went pop almost a quarter of a century ago.
It has always had a great selection of privately-owned shops, a huge theater scene and Shore Road, which has been equivalent to a bike lane even before it became a necessity for them.
Follow-up of the DCCT cohorts in the Epidemiology of Diabetes Interventions and Complications (EDIC) study has shown persistence of this effect in previously intensively treated subjects, even though their glycemic control has been equivalent to that of previous standard arm subjects during follow-up (54, 55).
His absence would have been equivalent to Tony Blair not turning up to the Labour party conference.
The full amount would have been equivalent to a little less than $10 per American.
Had it released its energy in one go it would have been equivalent to a magnitude 5.8 quake.
She also points to evidence that Shakespeare's schooling would have been equivalent to today's university.
So distant is the Messier 87 galaxy that capturing it is said to have been equivalent to photographing a bagel on the moon.
