Faroe Islands GDP per Capita PPP
GDP per capita adjusted for purchasing power parity, current international dollars.
GDP per Capita PPP in Faroe Islands increased to 82,089.28 international dollars in 2024 from 79,784.08 international dollars in 2023.
Faroe Islands GDP per Capita PPP — History
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Faroe Islands GDP per Capita PPP — analysis in simple words
Latest reading
GDP per Capita PPP in Faroe Islands increased to 82,089.28 international dollars in 2024 from 79,784.08 international dollars in 2023.
It has risen in each of the last three years.
Recent trend
A year earlier (2023) it was $79,784, so the latest figure is $2,305 higher.
Over the past five years the average was $73,446, with a range from $61,656 to $82,089. The latest value is above that five-year average.
Historical context
This data series starts in 2008 and has 17 annual observations. The latest reading is higher than 94% of all of them.
The highest value on record is $82,089 (2024) and the lowest is $39,331 (2009). The long-run average is $56,728.
Compared with other countries
Among 204 economies with recent data, Faroe Islands ranks 19th from the top. The median across all these economies is $21,072, so Faroe Islands is above the typical country.
Within Europe & Central Asia (54 economies with data) it ranks 10th; the regional median is $52,626.
Statistics
- Latest
- $82,0892024
- Previous
- $79,784
- 5-year average
- $73,446
- Long-run average
- $56,728since 2008
- All-time high
- $82,0892024
- All-time low
- $39,3312009
- Observations
- 17Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | $82,089 | ▲ +2,305.2 |
| 2023 | $79,784 | ▲ +4,517.8 |
| 2022 | $75,266 | ▲ +6,833.1 |
| 2021 | $68,433 | ▲ +6,777.7 |
| 2020 | $61,656 | ▼ −570.3 |
| 2019 | $62,226 | ▲ +3,293.9 |
| 2018 | $58,932 | ▲ +2,514.6 |
| 2017 | $56,417 | ▲ +2,098.0 |
| 2016 | $54,319 | ▲ +633.9 |
| 2015 | $53,685 | ▲ +486.0 |
| 2014 | $53,200 | ▲ +3,417.6 |
| 2013 | $49,782 | ▲ +3,584.1 |
| 2012 | $46,198 | ▲ +4,063.7 |
| 2011 | $42,134 | ▲ +2,366.7 |
| 2010 | $39,767 | ▲ +436.0 |
| 2009 | $39,331 | ▼ −1,828.7 |
| 2008 | $41,160 |
GDP per Capita PPP — Faroe Islands vs Peers
Latest available reading for each economy (periods may differ). Faroe Islands highlighted.
More Faroe Islands indicators
Understanding GDP per Capita PPP — a simple guide
What it measures
GDP per capita converted at purchasing-power-parity rates, which adjust for differences in local price levels.
How it is calculated
GDP per person converted using purchasing power parity (PPP) rates instead of market exchange rates. PPP adjusts for how much the same basket of goods costs in each country.
A haircut may cost $2 in one country and $20 in another. PPP adjusts for such differences so incomes can be compared more fairly.
Higher PPP income means people can afford more goods and services locally.
Lower PPP income indicates lower purchasing power per person.
Why it matters for the economy and markets
PPP figures allow fairer comparisons of living standards between countries with very different costs of living.
How to read it
PPP values are estimates based on periodic international price surveys and are best used for comparisons, not exact incomes.
What to look at alongside it
GDP per capita in US dollars and living-cost differences.
Key terms
- PPP
- Purchasing power parity — an exchange rate that equalises the cost of a common basket of goods.
- International dollar
- A unit with the same purchasing power as one US dollar in the United States.
Data source
World Bank — World Development Indicators (series NY.GDP.PCAP.PP.CD), annual data from 2008 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current gdp per capita ppp of Faroe Islands?
What is the highest and lowest gdp per capita ppp of Faroe Islands?
What does gdp per capita ppp measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.