GDP per capita in Faroe Islands
Faroe Islands: GDP per capita was 377,557 constant LCU in 2024. ▲ Rising
GDP per capita in Faroe Islands, 2008–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
The most recent figure for gdp per capita in Faroe Islands is 377,557 constant LCU, measured in 2024. That is the highest value across all 17 years on record.
That represents a change of up 0.4% on the previous year and up 12.6% over ten years.
Over the whole period, gdp per capita in Faroe Islands peaked at 377,557 constant LCU in 2024 and was at its lowest, 269,529 constant LCU, in 2010.
Faroe Islands ranks 62nd of 214 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 276,957 constant LCU | 269,814 constant LCU | 284,100 constant LCU | 2 |
| 2010s | 322,183 constant LCU | 269,529 constant LCU | 356,735 constant LCU | 10 |
| 2020s | 365,110 constant LCU | 345,747 constant LCU | 377,557 constant LCU | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 2.07 billion current US$ (2024)
- Exports of goods and services 54.6% (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 51.2% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- Exports of goods and services 15.24 billion current LCU (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
Frequently asked questions
- What is gdp per capita in Faroe Islands?
- Gdp per capita in Faroe Islands was 377,557 constant LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp per capita recorded in Faroe Islands?
- The highest recorded value was 377,557 constant LCU in 2024.
- What is the lowest gdp per capita recorded in Faroe Islands?
- The lowest recorded value was 269,529 constant LCU in 2010.
- How does Faroe Islands rank for gdp per capita?
- Faroe Islands ranks 62nd out of 214 countries with data for 2024.
- Is gdp per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 12.6%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of GDP per capita (constant LCU). Statizoid updates them automatically from the source API.
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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. The core indicator has been divided by the general population to achieve a per capita estimate.This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.