GDP per capita in Faroe Islands
Faroe Islands: GDP per capita was 511,400 current LCU in 2024. ◆ Volatile
GDP per capita in Faroe Islands, 1962–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
Faroe Islands recorded 511,400 current LCU for gdp per capita in 2024. That is the highest value across all 63 years on record.
Compared with earlier readings it is up 2.4% on the previous year and up 51.4% over ten years.
Over the whole period, gdp per capita in Faroe Islands peaked at 511,400 current LCU in 2024 and was at its lowest, 7,434 current LCU, in 1962.
That places Faroe Islands 69th out of 213 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 11,062 current LCU | 7,434 current LCU | 13,871 current LCU | 8 |
| 1970s | 34,154 current LCU | 16,645 current LCU | 55,500 current LCU | 10 |
| 1980s | 104,787 current LCU | 64,511 current LCU | 137,681 current LCU | 10 |
| 1990s | 130,493 current LCU | 106,167 current LCU | 174,257 current LCU | 10 |
| 2000s | 227,123 current LCU | 188,521 current LCU | 263,196 current LCU | 10 |
| 2010s | 343,332 current LCU | 269,529 current LCU | 420,647 current LCU | 10 |
| 2020s | 465,820 current LCU | 407,235 current LCU | 511,400 current 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 511,400 current 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 511,400 current LCU in 2024.
- What is the lowest gdp per capita recorded in Faroe Islands?
- The lowest recorded value was 7,434 current LCU in 1962.
- How does Faroe Islands rank for gdp per capita?
- Faroe Islands ranks 69th out of 213 countries with data for 2024.
- Is gdp per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 51.4%. The long-run trend across the full record is volatile.
- 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 (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 63 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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.