World Bank · Economy

Faroe Islands: PPP conversion factor, GDP

6.23LCU per international USD · 2024-1.9% since 2014

The purchasing power parity (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 gross domestic product (GDP) and its expenditure components. This conversion factor is for the level of GDP and the base currency is the US dollar. Annual figures for Faroe Islands from 2008 to 2024.