Faroe Islands vs Iceland: GNI per capita, PPP
GNI per capita, PPP over time
- Faroe Islands
- Iceland
How they compare
Faroe Islands currently reports 83,480 current international $ against 83,250 current international $ in Iceland, a difference of 230 current international $.
The two have swapped places 2 times across 17 shared years of data; in 2008 it was Faroe Islands ahead.
Globally, Faroe Islands ranks 14th and Iceland ranks 15th of 202 countries.
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About this data
This indicator provides values for gross national income (GNI) per person 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 national income is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad. The core indicator has been divided by the general population to achieve a per capita estimate. 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.