Faroe Islands vs World: GDP per capita, PPP
GDP per capita, PPP over time
- Faroe Islands
- World
How they compare
Faroe Islands currently reports 82,089 current international $ against 25,704 current international $ in World, a difference of 56,385 current international $.
That makes Faroe Islands's figure about 3.2 times World's.
Across all 17 years both countries report, Faroe Islands has been ahead every year.
Faroe Islands ranks 16th and World ranks 14th of 203 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 | 40,246 current international $ | 12,319 current international $ | 27,927 current international $ | Faroe Islands |
| 2010s | 51,666 current international $ | 15,346 current international $ | 36,320 current international $ | Faroe Islands |
| 2020s | 73,446 current international $ | 21,542 current international $ | 51,904 current 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 82,089 current international $ against 25,704 current international $ in World as of 2024.
- What is the difference in gdp per capita, ppp between Faroe Islands and World?
- 56,385 current 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 16th and World ranks 14th of 203 countries.
- Where does this data come from?
- International Comparison Program (ICP), World Bank (WB), published as GDP per capita, PPP (current 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 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 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. 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. The core indicator has been divided by the general population to achieve a per capita estimate. 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.