Faroe Islands — GDP (PPP)
GDP (PPP) for Faroe Islands, 2008–2024.
Latest value · 2024
4.49 billion
GDP (PPP) · current international $ · +124.5% since 2008
GDP (PPP) for Faroe Islands was 4.49 billion in 2024, according to the latest World Bank data. The series covers 17 years, from 2008 to 2024. The latest year is also the highest value on record for this series. The lowest was 1.92 billion in 2009 (about 2.3× the low point). Across that span the compound annual growth rate works out to 5.18% per year.
Faroe Islands ranks 180 of 201 economies on this measure (1 = highest), putting it in the top 90%. The median for Europe & Central Asia is 285.97 billion, so Faroe Islands sits below it. Over the last decade (2014–2024) the figure moved up 74%.
Key figures
Latest (2024)
4.49 billion
First (2008)
2.00 billion
Change
+124.5%
Highest
4.49 billion
in 2024
Lowest
1.92 billion
in 2009
Average
2.90 billion
Annual growth (CAGR)
5.18%
Years of data
17
Recent years
| Year | current international $ |
|---|---|
| 2024 | 4,485,358,437.19 |
| 2023 | 4,340,094,171.34 |
| 2022 | 4,057,079,113.89 |
| 2021 | 3,646,874,430.18 |
| 2020 | 3,240,676,994.68 |
| 2019 | 3,222,676,562.52 |
| 2018 | 3,005,353,972.72 |
| 2017 | 2,830,966,519.25 |
| 2016 | 2,686,800,585.69 |
| 2015 | 2,625,111,870.08 |
| 2014 | 2,576,292,786.08 |
| 2013 | 2,401,726,484.05 |
Reading this correctly. GDP converted using purchasing power parity rates rather than market exchange rates. Better for comparing living standards between countries; not comparable with the nominal GDP figure. Figures are in current international $. Comparing this series with a different measure of the same concept (for example a nominal figure against a purchasing-power-parity figure) will give misleading results.
Related data
Source. World Bank Open Data, indicator
NY.GDP.MKTP.PP.CD — GDP (PPP). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.