GDP, PPP (current international $), per unit of GDP in Faroe Islands
Faroe Islands: GDP, PPP (current international $), per unit of GDP was 1.11 current international $ per US$ of GDP in 2024. ▲ Rising
GDP, PPP (current international $), per unit of GDP in Faroe Islands, 2008–2024
Source: Statizoid (derived). Measured in current international $ per US$ of GDP.
Analysis
In 2024, gdp, ppp (current international $), per unit of gdp in Faroe Islands stood at 1.11 current international $ per US$ of GDP.
That represents a change of up 0.5% on the previous year and up 25.2% over ten years.
Over the whole period, gdp, ppp (current international $), per unit of gdp in Faroe Islands peaked at 1.12 current international $ per US$ of GDP in 2022 and was at its lowest, 0.8025 current international $ per US$ of GDP, in 2008.
That places Faroe Islands 187th out of 204 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.
GDP, PPP (current international $), per unit of GDP in Faroe Islands, year by year
| Year | current international $ per US$ of GDP | Change |
|---|---|---|
| 2008 | 0.8025 current international $ per US$ of GDP | — |
| 2009 | 0.8358 current international $ per US$ of GDP | +4.1% |
| 2010 | 0.8298 current international $ per US$ of GDP | -0.7% |
| 2011 | 0.8162 current international $ per US$ of GDP | -1.6% |
| 2012 | 0.9191 current international $ per US$ of GDP | +12.6% |
| 2013 | 0.8928 current international $ per US$ of GDP | -2.9% |
| 2014 | 0.8841 current international $ per US$ of GDP | -1.0% |
| 2015 | 1.02 current international $ per US$ of GDP | +15.4% |
| 2016 | 0.955 current international $ per US$ of GDP | -6.4% |
| 2017 | 0.95 current international $ per US$ of GDP | -0.5% |
| 2018 | 0.9425 current international $ per US$ of GDP | -0.8% |
| 2019 | 0.9866 current international $ per US$ of GDP | +4.7% |
| 2020 | 0.9905 current international $ per US$ of GDP | +0.4% |
| 2021 | 0.9858 current international $ per US$ of GDP | -0.5% |
| 2022 | 1.12 current international $ per US$ of GDP | +13.8% |
| 2023 | 1.1 current international $ per US$ of GDP | -1.9% |
| 2024 | 1.11 current international $ per US$ of GDP | +0.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 1.11 current international $ per US$ of GDP is below the median for high income countries, which is 1.45 current international $ per US$ of GDP, 76% of the median. (74 countries reporting)
- Faroe Islands's 1.11 current international $ per US$ of GDP is below the median for Europe & Central Asia, which is 1.72 current international $ per US$ of GDP, 64% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 0.8191 current international $ per US$ of GDP | 0.8025 current international $ per US$ of GDP | 0.8358 current international $ per US$ of GDP | 2 |
| 2010s | 0.9196 current international $ per US$ of GDP | 0.8162 current international $ per US$ of GDP | 1.02 current international $ per US$ of GDP | 10 |
| 2020s | 1.06 current international $ per US$ of GDP | 0.9858 current international $ per US$ of GDP | 1.12 current international $ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 184 United Kingdom 1.12 current international $ per US$ of GDP compare
- 185 Vanuatu 1.12 current international $ per US$ of GDP compare
- 186 Tuvalu 1.12 current international $ per US$ of GDP compare
- 188 Australia 1.1 current international $ per US$ of GDP compare
- 189 Norway 1.1 current international $ per US$ of GDP compare
- 190 Denmark 1.08 current international $ per US$ of GDP compare
More economy & growth data for Faroe Islands
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Imports of goods and services (current US$), per unit of GDP 0.512 current US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 2.8 current LCU per US$ of GDP (2024)
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Imports of goods and services (current US$), per capita 37,975 current US$ per person (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 207,672 current LCU per person (2024)
Frequently asked questions
- What is gdp, ppp (current international $), per unit of gdp in Faroe Islands?
- Gdp, ppp (current international $), per unit of gdp in Faroe Islands was 1.11 current international $ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gdp, ppp (current international $), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 1.12 current international $ per US$ of GDP in 2022.
- What is the lowest gdp, ppp (current international $), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.8025 current international $ per US$ of GDP in 2008.
- How does Faroe Islands rank for gdp, ppp (current international $), per unit of gdp?
- Faroe Islands ranks 187th out of 204 countries with data for 2024.
- Is gdp, ppp (current international $), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 25.2%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of GDP, PPP (current international $), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
GDP, PPP (current international $) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
GDP, PPP (current international $) ÷ GDP (current US$)
Computed from
- GDP, PPP International Comparison Program (ICP), World Bank (WB)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
GDP, PPP (current international $) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.