Economy & Growth in Faroe Islands
123 indicators covering economy & growth for Faroe Islands.
| Indicator | Latest | Year | 10-yr change | Rank |
|---|---|---|---|---|
| GDP growth | 0.8% | 2024 | down 84.5% | 179th |
| Inflation, GDP deflator | 2.0% | 2024 | down 25.3% | 153rd |
| GDP deflator | 135.45 base year varies by country | 2024 | up 34.4% | 105th |
| Discrepancy in expenditure estimate of GDP | 100,000 current LCU | 2024 | — | 52nd |
| Gross value added at basic prices (GVA) | 3.57 billion current US$ | 2024 | up 38.3% | 170th |
| Gross value added at basic prices (GVA) | 24.64 billion current LCU | 2024 | up 69.9% | 165th |
| GDP | 4.05 billion current US$ | 2024 | up 39.1% | 177th |
| GDP | 27.94 billion current LCU | 2024 | up 70.9% | 168th |
| GDP | 3.24 billion constant 2015 US$ | 2024 | up 27.1% | 176th |
| Services, value added | 53.8% | 2024 | down 7.2% | 131st |
| Services, value added | 15.04 billion current LCU | 2024 | up 58.5% | 167th |
| Services, value added | 2.18 billion current US$ | 2024 | up 29.1% | 173rd |
| Industry (including construction), value added | 18.3% | 2024 | up 16.8% | 141st |
| Industry (including construction), value added | 5.11 billion current LCU | 2024 | up 99.6% | 167th |
| Industry (including construction), value added | 741.68 million current US$ | 2024 | up 62.4% | 166th |
| Manufacturing, value added | 9.5% | 2024 | up 4.2% | 107th |
| Manufacturing, value added | 2.64 billion current LCU | 2024 | up 78.0% | 156th |
| Manufacturing, value added | 383.50 million current US$ | 2024 | up 44.9% | 157th |
| Agriculture, forestry, and fishing, value added | 4.49 billion current LCU | 2024 | up 83.1% | 141st |
| Trade | 105.8% | 2024 | down 0.4% | 59th |
| External balance on goods and services | 3.4% | 2024 | up 389.7% | 53rd |
| External balance on goods and services | 938.80 million current LCU | 2024 | up 736.7% | 72nd |
| External balance on goods and services | 136.17 million current US$ | 2024 | up 581.1% | 76th |
| Imports of goods and services | 51.2% | 2024 | down 2.9% | 82nd |
| Imports of goods and services | 14.31 billion current LCU | 2024 | up 65.9% | 159th |
| Imports of goods and services | 2.07 billion current US$ | 2024 | up 35.0% | 166th |
| Gross capital formation | 28.2% | 2024 | up 29.5% | 48th |
| Gross capital formation | 7.87 billion current LCU | 2024 | up 121.2% | 155th |
| Gross capital formation | 1.14 billion current US$ | 2024 | up 80.1% | 156th |
| Exports of goods and services | 54.6% | 2024 | up 2.1% | 49th |
| Exports of goods and services | 15.24 billion current LCU | 2024 | up 74.5% | 160th |
| Exports of goods and services | 2.21 billion current US$ | 2024 | up 42.1% | 155th |
| Gross national expenditure | 96.6% | 2024 | down 2.7% | 131st |
| Gross national expenditure | 27.00 billion current LCU | 2024 | up 66.3% | 159th |
| Gross national expenditure | 3.92 billion current US$ | 2024 | up 35.3% | 160th |
| Final consumption expenditure | 68.5% | 2024 | down 11.7% | 147th |
| Final consumption expenditure | 19.13 billion current LCU | 2024 | up 50.8% | 162nd |
| Final consumption expenditure | 2.78 billion current US$ | 2024 | up 22.8% | 164th |
| Households and NPISHs final consumption expenditure | 40.6% | 2024 | down 16.6% | 173rd |
| Gross domestic savings | 31.5% | 2024 | up 40.5% | 41st |
| Trade in services | 24.0% | 2011 | up 71.7% | 92nd |
| DEC alternative conversion factor | 6.89 LCU per US$ | 2024 | up 22.8% | 116th |
| Net secondary income (Net current transfers from abroad) | 485.60 million current LCU | 2024 | down 41.0% | 123rd |
| Net secondary income (Net current transfers from abroad) | 70.43 million current US$ | 2024 | down 52.0% | 130th |
| Taxes less subsidies on products | 3.30 billion current LCU | 2024 | up 78.1% | 152nd |
| Taxes less subsidies on products | 478.54 million current US$ | 2024 | up 45.0% | 149th |
| Net primary income (Net income from abroad) | 472.40 million current LCU | 2024 | down 19.8% | 38th |
| Net primary income (Net income from abroad) | 68.52 million current US$ | 2024 | down 34.7% | 41st |
| GNI per capita | 520,046 current LCU | 2024 | up 48.6% | 71st |
| GNI per capita, Atlas method | 73,120 current US$ | 2024 | up 21.0% | 14th |
| GNI | 28.42 billion current LCU | 2024 | up 67.7% | 168th |
| GNI | 4.12 billion current US$ | 2024 | up 36.5% | 173rd |
| GNI, Atlas method | 4.00 billion current US$ | 2024 | up 36.5% | 171st |
| Gross domestic savings | 8.81 billion current LCU | 2024 | up 140.0% | 136th |
| GDP per capita | 74,175 current US$ | 2024 | up 23.3% | 16th |
| GDP per capita | 59,302 constant 2015 US$ | 2024 | up 12.6% | 16th |
| GDP per capita | 511,400 current LCU | 2024 | up 51.4% | 69th |
| GDP per capita growth | 0.4% | 2024 | down 92.1% | 168th |
| Gross domestic savings | 1.28 billion current US$ | 2024 | up 95.4% | 135th |
| GDP | 20.63 billion constant LCU | 2024 | up 27.1% | 163rd |