GNI per capita, Atlas method in Faroe Islands
Faroe Islands: GNI per capita, Atlas method was 73,120 current US$ in 2024. ▲ Rising
GNI per capita, Atlas method in Faroe Islands, 2010–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
Faroe Islands recorded 73,120 current US$ for gni per capita, atlas method in 2024.
That represents a change of down 0.4% on the previous year and up 21.0% over ten years.
Over the whole period, gni per capita, atlas method in Faroe Islands peaked at 73,420 current US$ in 2023 and was at its lowest, 49,050 current US$, in 2010.
Faroe Islands ranks 14th of 207 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 15 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 58,086 current US$ | 49,050 current US$ | 66,020 current US$ | 10 |
| 2020s | 70,754 current US$ | 64,210 current US$ | 73,420 current US$ | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 2.07 billion current US$ (2024)
- Exports of goods and services 54.6% (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 51.2% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- Exports of goods and services 15.24 billion current LCU (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
Frequently asked questions
- What is gni per capita, atlas method in Faroe Islands?
- Gni per capita, atlas method in Faroe Islands was 73,120 current US$ in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gni per capita, atlas method recorded in Faroe Islands?
- The highest recorded value was 73,420 current US$ in 2023.
- What is the lowest gni per capita, atlas method recorded in Faroe Islands?
- The lowest recorded value was 49,050 current US$ in 2010.
- How does Faroe Islands rank for gni per capita, atlas method?
- Faroe Islands ranks 14th out of 207 countries with data for 2024.
- Is gni per capita, atlas method rising or falling in Faroe Islands?
- Over the last ten years it is up 21.0%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of GNI per capita, Atlas method (current US$). Statizoid updates them automatically from the source API.
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About this data
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. This figure is converted to U.S. dollars using the World Bank Atlas method, and divided by the midyear population. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.