Faroe Islands vs World: GDP per capita, PPP
GDP per capita, PPP over time
- Faroe Islands
- World
How they compare
Faroe Islands currently reports 72,114 constant 2021 international $ against 21,914 constant 2021 international $ in World, a difference of 50,200 constant 2021 international $.
That makes Faroe Islands's figure about 3.3 times World's.
Across all 17 years both countries report, Faroe Islands has been ahead every year.
Faroe Islands ranks 14th and World ranks 16th of 200 countries.
Faroe Islands has averaged higher in every one of the 3 decades both report.
Head to head by decade
| Decade | Faroe Islands | World | Difference | Ahead |
|---|---|---|---|---|
| 2000s | 52,899 constant 2021 international $ | 15,606 constant 2021 international $ | 37,293 constant 2021 international $ | Faroe Islands |
| 2010s | 61,537 constant 2021 international $ | 17,750 constant 2021 international $ | 43,787 constant 2021 international $ | Faroe Islands |
| 2020s | 69,736 constant 2021 international $ | 20,280 constant 2021 international $ | 49,457 constant 2021 international $ | Faroe Islands |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher gdp per capita, ppp, Faroe Islands or World?
- Faroe Islands, at 72,114 constant 2021 international $ against 21,914 constant 2021 international $ in World as of 2024.
- What is the difference in gdp per capita, ppp between Faroe Islands and World?
- 50,200 constant 2021 international $, with Faroe Islands ahead.
- How many years of comparable data are there for Faroe Islands and World?
- 17 years are reported by both, from 2008 to 2024.
- How do Faroe Islands and World rank globally for gdp per capita, ppp?
- Faroe Islands ranks 14th and World ranks 16th of 200 countries.
- Where does this data come from?
- International Comparison Program (ICP), World Bank (WB), published as GDP per capita, PPP (constant 2021 international $). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
This indicator provides values for gross domestic product (GDP) per person expressed in constant 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 domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. 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.