Faroe Islands vs Saint Lucia: GDP, PPP
GDP, PPP over time
- Faroe Islands
- Saint Lucia
How they compare
Saint Lucia currently reports 5.17 billion current international $ against 4.49 billion current international $ in Faroe Islands, a difference of 680.20 million current international $.
That makes Saint Lucia's figure about 1.2 times Faroe Islands's.
The two have swapped places 4 times across 17 shared years of data; in 2008 it was Saint Lucia ahead.
Globally, Faroe Islands ranks 182nd and Saint Lucia ranks 179th of 203 countries.
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About this data
This indicator provides values for gross domestic product (GDP) expressed in current international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.