Economy & Growth in Faroe Islands
123 indicators covering economy & growth for Faroe Islands.
| Indicator | Latest | Year | 10-yr change | Rank |
|---|---|---|---|---|
| Net primary income (Net income from abroad) | 472.40 million current LCU | 2024 | down 19.8% | 38th |
| Taxes less subsidies on products | 478.54 million current US$ | 2024 | up 45.0% | 149th |
| Taxes less subsidies on products | 3.30 billion current LCU | 2024 | up 78.1% | 152nd |
| Net secondary income (Net current transfers from abroad) | 70.43 million current US$ | 2024 | down 52.0% | 130th |
| Net secondary income (Net current transfers from abroad) | 485.60 million current LCU | 2024 | down 41.0% | 123rd |
| DEC alternative conversion factor | 6.89 LCU per US$ | 2024 | up 22.8% | 116th |
| Personal remittances, received | 158.41 million current US$ | 2011 | up 305.8% | 150th |
| Personal remittances, paid | 34.40 million current US$ | 2011 | up 156.6% | 166th |
| Service exports | 206.81 million BoP, current US$ | 2011 | up 263.8% | 172nd |
| Imports of goods and services | 1.34 billion BoP, current US$ | 2011 | up 130.0% | 176th |
| Imports of goods, services and primary income | 1.46 billion BoP, current US$ | 2011 | up 121.2% | 177th |
| Service imports | 394.20 million BoP, current US$ | 2011 | up 274.5% | 171st |
| Exports of goods and services | 1.21 billion BoP, current US$ | 2011 | up 111.7% | 169th |
| Goods imports | 949.02 million BoP, current US$ | 2011 | up 98.2% | 174th |
| Transport services | 23.8% | 2011 | down 27.7% | 128th |
| Communications, computer, etc. | 31.7% | 2011 | up 119.2% | 74th |
| Goods exports | 1.01 billion BoP, current US$ | 2011 | up 94.9% | 153rd |
| Communications, computer, etc. | 50.9% | 2011 | up 112.8% | 34th |
| Exports of goods, services and primary income | 1.45 billion BoP, current US$ | 2011 | up 118.7% | 168th |
| Travel services | 24.4% | 2011 | down 26.1% | 69th |
| Travel services | 19.9% | 2011 | down 48.0% | 137th |
| Net trade in goods and services | -130.43 million BoP, current US$ | 2011 | down 1,076.1% | 92nd |
| Net trade in goods | 56.97 million BoP, current US$ | 2011 | up 52.6% | 64th |
| Current account balance | 194.30 million BoP, current US$ | 2011 | up 32.9% | 64th |
| Net primary income | 121.78 million BoP, current US$ | 2011 | up 731.8% | 37th |
| Transport services | 40.6% | 2011 | up 3.7% | 19th |
| Net secondary income | 202.96 million BoP, current US$ | 2011 | up 42.3% | 106th |
| Current account balance | 7.8% | 2011 | down 38.5% | 25th |
| Primary income payments | 116.94 million BoP, current US$ | 2011 | up 53.9% | 166th |
| Insurance and financial services | 0.8% | 2011 | down 91.8% | 194th |
| Primary income receipts | 238.72 million BoP, current US$ | 2011 | up 163.5% | 134th |
| Personal remittances, received | 6.3% | 2011 | up 87.9% | 54th |
| Secondary income receipts | 231.36 million BoP, current US$ | 2011 | up 57.5% | 158th |
| Gross savings | 27.3% | 2011 | down 28.7% | 57th |
| Gross savings | 28.8% | 2011 | down 26.7% | 48th |
| Insurance and financial services | 0.8% | 2011 | down 90.3% | 147th |
| Charges for the use of intellectual property, payments | 9.08 million BoP, current US$ | 2011 | up 193.7% | 125th |
| Secondary income, other sectors, payments | 24.20 million BoP, current US$ | 2011 | up 559.4% | 179th |
| Gross savings | 721.07 million current US$ | 2011 | up 58.2% | 149th |
| Gross savings | 3.87 billion current LCU | 2011 | up 2.1% | 151st |
| GDP, PPP | 3.94 billion constant 2021 international $ | 2024 | up 27.1% | 178th |
| GDP per capita, PPP | 72,114 constant 2021 international $ | 2024 | up 12.6% | 14th |
| GDP per capita | 72,114 international-$ in 2021 prices | 2024 | up 12.6% | 14th |
| GDP, PPP | 4.49 billion current international $ | 2024 | up 74.1% | 182nd |
| GDP per capita, PPP | 82,089 current international $ | 2024 | up 54.3% | 16th |
| Price level index | 90.36 GDP | 2024 | down 20.1% | 17th |
| PPP conversion factor, GDP | 6.23 LCU per international $ | 2024 | down 1.9% | 100th |
| GDP: linked series | 27.94 billion current LCU | 2024 | up 70.9% | 168th |
| GNI, PPP | 4.56 billion current international $ | 2024 | up 70.9% | 180th |
| GNI per capita, PPP | 83,480 current international $ | 2024 | up 51.5% | 14th |
| GNI: linked series | 28.42 billion current LCU | 2024 | up 67.7% | 167th |
| Charges for the use of intellectual property, receipts | 1.18 million BoP, current US$ | 2011 | up 5,815.9% | 109th |
| Adjusted savings: mineral depletion | 0 current US$ | 2021 | — | 94th |
| Adjusted savings: mineral depletion | 0.0% | 2021 | — | 95th |
| Adjusted savings: energy depletion | 0 current US$ | 2021 | — | 140th |
| Adjusted savings: energy depletion | 0.0% | 2021 | — | 138th |
| Households and NPISHs final consumption expenditure: linked series | 11.35 billion current LCU | 2024 | up 42.5% | 161st |
| ICT service exports | 4.4% | 2011 | up 44.1% | 105th |
| ICT service exports | 9.12 million BoP, current US$ | 2011 | up 424.4% | 156th |
| Adjusted savings: gross savings | 27.3% | 2011 | down 28.7% | 63rd |