GNI, PPP in Faroe Islands
Faroe Islands: GNI, PPP was 4.56 billion current international $ in 2024. ▲ Rising
GNI, PPP in Faroe Islands, 2008–2024
Source: International Comparison Program (ICP), World Bank (WB). Measured in current international $.
Analysis
The most recent figure for gni, ppp in Faroe Islands is 4.56 billion current international $, measured in 2024. That is the highest value across all 17 years on record.
That represents a change of up 4.3% on the previous year and up 70.9% over ten years.
Over the whole period, gni, ppp in Faroe Islands peaked at 4.56 billion current international $ in 2024 and was at its lowest, 1.88 billion current international $, in 2009.
That places Faroe Islands 180th out of 202 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.94 billion current international $ | 1.88 billion current international $ | 2.01 billion current international $ | 2 |
| 2010s | 2.65 billion current international $ | 1.96 billion current international $ | 3.32 billion current international $ | 10 |
| 2020s | 4.04 billion current international $ | 3.32 billion current international $ | 4.56 billion current international $ | 5 |
Countries ranked near Faroe Islands
- 177 Curacao 5.20 billion current international $ compare
- 178 Eritrea 5.16 billion current international $ compare
- 179 Saint Lucia 4.72 billion current international $ compare
- 181 Seychelles 4.29 billion current international $ compare
- 182 Comoros 3.76 billion current international $ compare
- 183 Antigua and Barbuda 3.27 billion 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, ppp in Faroe Islands?
- Gni, ppp in Faroe Islands was 4.56 billion current international $ in 2024, according to International Comparison Program (ICP), World Bank (WB).
- What is the highest gni, ppp recorded in Faroe Islands?
- The highest recorded value was 4.56 billion current international $ in 2024.
- What is the lowest gni, ppp recorded in Faroe Islands?
- The lowest recorded value was 1.88 billion current international $ in 2009.
- How does Faroe Islands rank for gni, ppp?
- Faroe Islands ranks 180th out of 202 countries with data for 2024.
- Is gni, ppp rising or falling in Faroe Islands?
- Over the last ten years it is up 70.9%. 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, 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) 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. 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.