GDP per capita in Faroe Islands
Faroe Islands: GDP per capita was 74,175 current US$ in 2024. ◆ Volatile
GDP per capita in Faroe Islands, 1965–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
In 2024, gdp per capita in Faroe Islands stood at 74,175 current US$. That is the highest value across all 60 years on record.
Compared with earlier readings it is up 2.3% on the previous year and up 23.3% over ten years.
Over the whole period, gdp per capita in Faroe Islands peaked at 74,175 current US$ in 2024 and was at its lowest, 1,594 current US$, in 1965.
Faroe Islands ranks 16th of 213 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1,742 current US$ | 1,594 current US$ | 1,849 current US$ | 5 |
| 1970s | 5,742 current US$ | 2,219 current US$ | 10,549 current US$ | 10 |
| 1980s | 13,489 current US$ | 9,437 current US$ | 20,453 current US$ | 10 |
| 1990s | 20,618 current US$ | 16,374 current US$ | 24,979 current US$ | 10 |
| 2000s | 36,689 current US$ | 23,323 current US$ | 51,288 current US$ | 10 |
| 2010s | 56,024 current US$ | 47,924 current US$ | 63,071 current US$ | 10 |
| 2020s | 69,080 current US$ | 62,248 current US$ | 74,175 current US$ | 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 74,175 current US$ 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 74,175 current US$ in 2024.
- What is the lowest gdp per capita recorded in Faroe Islands?
- The lowest recorded value was 1,594 current US$ in 1965.
- How does Faroe Islands rank for gdp per capita?
- Faroe Islands ranks 16th 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 23.3%. 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 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 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 indicator is expressed in United States dollars.