Can any one please tell me what does conversion rate and world domination means?
You can find all the info on stats here: http://support.fiverr.com/hc/en-us/articles/201733423-What-are-Gig-stats-
That link will include some info on Conversation rate.
World domination is just for fun. It shows the countries you’ve filled orders for and is often a point of interest to chat about, but does nothing in particular that affects you on Fiverr. If every single buyer you had was from Belgium (tiny on your world domination chart) but you had lots of them, it would be just fine.