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It is one thousandth of one percent. In other words, it takes one thousand of those units to make one percent of the whole quantity.

It is strange when you start combining small decimal fractions with the word percent. It might help to think of it this way. "percent" always means one hundredth, 1/100. Whatever number comes before "percent" has to be multiplied by 1/100. Five percent, or 5 percent or 5% means 5 hundredths. One tenth of a percent, or 0.1 percent, means it takes 10 of these to equal ONE PERCENT. The number 0.001 without the word percent means simply one thousandth of the whole quantity; it doesn't mean one thousandth of a percent. So 0.001 is equal to 0.1 percent; one thousandth is the same as saying one tenth of one percent.

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Q: What is 0.001 percent?
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