GDP: linked series in Faroe Islands
Faroe Islands: GDP: linked series was 27.94 billion current LCU in 2024. ▲ Rising
GDP: linked series in Faroe Islands, 2008–2024
Source: Staff estimates, World Bank (WB). Measured in current LCU.
Analysis
The most recent figure for gdp: linked series in Faroe Islands is 27.94 billion current LCU, measured in 2024. That is the highest value across all 17 years on record.
The figure is up 2.9% on the previous year and up 70.9% over ten years.
Over the whole period, gdp: linked series in Faroe Islands peaked at 27.94 billion current LCU in 2024 and was at its lowest, 12.31 billion current LCU, in 2009.
Faroe Islands ranks 168th of 213 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 12.50 billion current LCU | 12.31 billion current LCU | 12.69 billion current LCU | 2 |
| 2010s | 16.99 billion current LCU | 13.11 billion current LCU | 21.79 billion current LCU | 10 |
| 2020s | 25.07 billion current LCU | 21.40 billion current LCU | 27.94 billion current LCU | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 14.31 billion current LCU (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 2.07 billion current US$ (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- External balance on goods and services 3.4% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- Exports of goods and services 54.6% (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is gdp: linked series in Faroe Islands?
- Gdp: linked series in Faroe Islands was 27.94 billion current LCU in 2024, according to Staff estimates, World Bank (WB).
- What is the highest gdp: linked series recorded in Faroe Islands?
- The highest recorded value was 27.94 billion current LCU in 2024.
- What is the lowest gdp: linked series recorded in Faroe Islands?
- The lowest recorded value was 12.31 billion current LCU in 2009.
- How does Faroe Islands rank for gdp: linked series?
- Faroe Islands ranks 168th out of 213 countries with data for 2024.
- Is gdp: linked series rising or falling in Faroe Islands?
- Over the last ten years it is up 70.9%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of GDP: linked series (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.