🇫🇴Faroe Islands gdp (2024)

GDP per Capita, PPP (constant 2021 international $) · constant 2021 international $

GDP divided by midyear population, at market exchange rates. Not adjusted for local price levels, so it understates real living standards in countries where goods and services are cheap.

Annual change in GDP measured at constant prices. Unlike the level figures, this series is adjusted for inflation, so it reflects real changes in output.

Market value of all goods and services produced in a year, converted to US dollars at market exchange rates. Measured in current prices, so figures from different years are not directly comparable — part of any increase is inflation and currency movement rather than more output.

Income earned by a country's residents per person, smoothed over three years by the World Bank Atlas method. GNI counts income wherever residents earn it, so it diverges from GDP where foreign-owned profits or remittances are large. This is the series used to assign income groups.