GNI per capita in Faroe Islands
Faroe Islands: GNI per capita was 520,046 current LCU in 2024. ◆ Volatile
GNI per capita in Faroe Islands, 1960–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current LCU.
Analysis
In 2024, gni per capita in Faroe Islands stood at 520,046 current LCU. That is the highest value across all 55 years on record.
That represents a change of up 3.4% on the previous year and up 48.6% over ten years.
Over the whole period, gni per capita in Faroe Islands peaked at 520,046 current LCU in 2024 and was at its lowest, 5,699 current LCU, in 1960.
That places Faroe Islands 71st out of 209 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 | 9,160 current LCU | 5,699 current LCU | 12,375 current LCU | 10 |
| 1970s | 30,564 current LCU | 14,910 current LCU | 48,985 current LCU | 10 |
| 1980s | 89,510 current LCU | 57,439 current LCU | 120,445 current LCU | 8 |
| 1990s | 175,856 current LCU | 170,842 current LCU | 180,871 current LCU | 2 |
| 2000s | 232,579 current LCU | 195,758 current LCU | 270,937 current LCU | 10 |
| 2010s | 355,623 current LCU | 273,025 current LCU | 432,699 current LCU | 10 |
| 2020s | 475,568 current LCU | 417,030 current LCU | 520,046 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 gni per capita in Faroe Islands?
- Gni per capita in Faroe Islands was 520,046 current LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gni per capita recorded in Faroe Islands?
- The highest recorded value was 520,046 current LCU in 2024.
- What is the lowest gni per capita recorded in Faroe Islands?
- The lowest recorded value was 5,699 current LCU in 1960.
- How does Faroe Islands rank for gni per capita?
- Faroe Islands ranks 71st out of 209 countries with data for 2024.
- Is gni per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 48.6%. 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 Offices (NSOs), published as part of GNI per capita (current LCU). Statizoid updates them automatically from the source API.
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About this data
Gross national income is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad. 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.