Faroe Islands vs Greenland: GDP, PPP
GDP, PPP over time
- Faroe Islands
- Greenland
How they compare
Greenland currently reports 4.04 billion constant 2021 international $ against 3.94 billion constant 2021 international $ in Faroe Islands, a difference of 99.26 million constant 2021 international $.
Across all 16 years both countries report, Greenland has been ahead every year.
Faroe Islands ranks 179th and Greenland ranks 178th of 200 countries.
Greenland has averaged higher in every one of the 3 decades both report.
Head to head by decade
| Decade | Faroe Islands | Greenland | Difference | Ahead |
|---|---|---|---|---|
| 2000s | 2.57 billion constant 2021 international $ | 3.42 billion constant 2021 international $ | 848.61 million constant 2021 international $ | Greenland |
| 2010s | 3.04 billion constant 2021 international $ | 3.62 billion constant 2021 international $ | 582.87 million constant 2021 international $ | Greenland |
| 2020s | 3.70 billion constant 2021 international $ | 3.96 billion constant 2021 international $ | 255.19 million constant 2021 international $ | Greenland |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher gdp, ppp, Faroe Islands or Greenland?
- Greenland, at 4.04 billion constant 2021 international $ against 3.94 billion constant 2021 international $ in Faroe Islands as of 2023.
- What is the difference in gdp, ppp between Faroe Islands and Greenland?
- 99.26 million constant 2021 international $, with Greenland ahead.
- How many years of comparable data are there for Faroe Islands and Greenland?
- 16 years are reported by both, from 2008 to 2023.
- How do Faroe Islands and Greenland rank globally for gdp, ppp?
- Faroe Islands ranks 179th and Greenland ranks 178th of 200 countries.
- Where does this data come from?
- International Comparison Program (ICP), World Bank (WB), published as GDP, PPP (constant 2021 international $). Statizoid refreshes it automatically from the source and publishes the full history for both places.
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About this data
This indicator provides values for gross domestic product (GDP) 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. 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.