GNI per capita, PPP in Faroe Islands
Faroe Islands: GNI per capita, PPP was 83,480 current international $ in 2024. ▲ Rising
GNI per capita, PPP in Faroe Islands, 2008–2024
Source: International Comparison Program (ICP), World Bank (WB). Measured in current international $.
Analysis
In 2024, gni per capita, ppp in Faroe Islands stood at 83,480 current international $. That is the highest value across all 17 years on record.
Compared with earlier readings it is up 3.9% on the previous year and up 51.5% over ten years.
Over the whole period, gni per capita, ppp in Faroe Islands peaked at 83,480 current international $ in 2024 and was at its lowest, 38,440 current international $, in 2009.
That places Faroe Islands 14th out of 202 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 39,930 current international $ | 38,440 current international $ | 41,420 current international $ | 2 |
| 2010s | 53,527 current international $ | 40,280 current international $ | 64,010 current international $ | 10 |
| 2020s | 74,978 current international $ | 63,140 current international $ | 83,480 current international $ | 5 |
Countries ranked near Faroe Islands
- 11 Hong Kong 88,500 current international $ compare
- 12 Netherlands 85,480 current international $ compare
- 13 Denmark 85,460 current international $ compare
- 15 Iceland 83,250 current international $ compare
- 16 United Arab Emirates 81,640 current international $ compare
- 17 Andorra 80,950 current international $ compare
More economy & growth data for Faroe Islands
- Imports of goods and services 14.31 billion current LCU (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 2.07 billion current US$ (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- External balance on goods and services 3.4% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- Exports of goods and services 54.6% (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is gni per capita, ppp in Faroe Islands?
- Gni per capita, ppp in Faroe Islands was 83,480 current international $ in 2024, according to International Comparison Program (ICP), World Bank (WB).
- What is the highest gni per capita, ppp recorded in Faroe Islands?
- The highest recorded value was 83,480 current international $ in 2024.
- What is the lowest gni per capita, ppp recorded in Faroe Islands?
- The lowest recorded value was 38,440 current international $ in 2009.
- How does Faroe Islands rank for gni per capita, ppp?
- Faroe Islands ranks 14th out of 202 countries with data for 2024.
- Is gni per capita, ppp rising or falling in Faroe Islands?
- Over the last ten years it is up 51.5%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from International Comparison Program (ICP), World Bank (WB), published as part of GNI per capita, PPP (current international $). Statizoid updates them automatically from the source API.
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CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.