Faroe Islands GDP per Capita: PPP

Faroe Islands GDP per Capita: PPP data was reported at 81,908.778 Intl $ in 2024. This records an increase from the previous number of 79,694.930 Intl $ for 2023. Faroe Islands GDP per Capita: PPP data is updated yearly, averaging 54,318.304 Intl $ from Dec 2008 (Median) to 2024, with 17 observations. The data reached an all-time high of 81,908.778 Intl $ in 2024 and a record low of 39,330.596 Intl $ in 2009. Faroe Islands GDP per Capita: PPP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Faroe Islands – Table FO.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. This indicator provides values for gross domestic product (GDP) 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.;International Comparison Program (ICP), World Bank (WB), uri: https://www.worldbank.org/en/programs/icp/data, note: This information is for ICP’s PPPs utilized in WDI, publisher: International Comparison Program (ICP), date accessed: May 30, 2024, date published: May 30, 2024; The Eurostat PPP Programme, Eurostat (ESTAT), uri: https://ec.europa.eu/eurostat/databrowser/explore/all/all_themes, publisher: Eurostat; The OECD PPP Programme, Organisation for Economic Co-operation and Development (OECD), uri: https://data-explorer.oecd.org/, publisher: OECD; Staff estimates, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD); World Economic Outlook database, International Monetary Fund (IMF);Weighted average;

View Faroe Islands's Faroe Islands GDP per Capita: PPP from 2008 to 2024 in the chart:

max 1y 5y 10y bar line area spline areaspline column Apply Get this data

There is no data available for your selected dates.

max 1y 5y 10y bar line area spline areaspline column Apply Get this data

There is no data available for your selected dates.

What was Faroe Islands's Faroe Islands GDP per Capita: PPP in 2024?

Related Indicators for Faroe Islands GDP per Capita: PPP

Faroe Islands Key Series

More Indicators for Faroe Islands