Price level index in Faroe Islands
Faroe Islands: Price level index was 90.36 GDP in 2024. ▼ Falling
Price level index in Faroe Islands, 2008–2024
Source: World Development Indicators, World Bank (WB). Measured in GDP.
Analysis
In 2024, price level index in Faroe Islands stood at 90.36 GDP.
The figure is down 0.5% on the previous year and down 20.1% over ten years.
Over the whole period, price level index in Faroe Islands peaked at 124.61 GDP in 2008 and was at its lowest, 89.11 GDP, in 2022.
That places Faroe Islands 17th out of 203 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently falling across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 122.13 GDP | 119.65 GDP | 124.61 GDP | 2 |
| 2010s | 109.24 GDP | 98.05 GDP | 122.51 GDP | 10 |
| 2020s | 94.55 GDP | 89.11 GDP | 101.44 GDP | 5 |
Countries ranked near Faroe Islands
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 price level index in Faroe Islands?
- Price level index in Faroe Islands was 90.36 GDP in 2024, according to World Development Indicators, World Bank (WB).
- What is the highest price level index recorded in Faroe Islands?
- The highest recorded value was 124.61 GDP in 2008.
- What is the lowest price level index recorded in Faroe Islands?
- The lowest recorded value was 89.11 GDP in 2022.
- How does Faroe Islands rank for price level index?
- Faroe Islands ranks 17th out of 203 countries with data for 2024.
- Is price level index rising or falling in Faroe Islands?
- Over the last ten years it is down 20.1%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from World Development Indicators, World Bank (WB), published as part of Price level index (GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The price level index (PLI) is the ratio of a purchasing power parity (PPP) conversion factor to the corresponding market exchange rate between two countries, expressed relative to a base country that is set equal to 100. For this series the base country is the United States. It provides a measure of the differences in price level between the country and the United States by indicating the number of units of the common currency (US dollars) needed to buy the same volume of the aggregation level in each country. At the level of GDP, the price level ratio provides a measure of the differences in the general price levels of countries.