Faroe Islands GDP
WB (2024)
- Nominal (current) Gross Domestic Product (GDP) of Faeroe Islands is $4.05 billion ($4,052,937,170) as of 2024, according to the World Bank (WB). #179 in the world
- The GDP growth rate in 2024 was 0.8%, according to the World Bank (WB).
- GDP per Capita in Faeroe Islands (with a population of 55,400 people) was $74,175 in 2024, an increase of $1,689 from $72,487 in 2023; this represents a change of 2.3% in GDP per capita. #17 in the world
GDP Change (%)
Gross Domestic Product (GDP) of Faeroe Islands
| Year | GDP Nominal (Current USD) | GDP Real (Constant, Inflation Adjusted) | Pop. Change |
|---|---|---|---|
| 2024 | $4,052,937,170 | $3,240,267,282 | +1.25% |
| 2023 | $3,943,131,022 | $3,213,157,333 | +1.30% |
| 2022 | $3,615,241,801 | $3,114,769,890 | +1.33% |
| 2021 | $3,699,551,717 | $2,998,979,304 | +1.36% |
| 2020 | $3,271,813,312 | $2,854,366,727 | +1.44% |
| 2019 | $3,266,432,734 | $2,901,879,820 | +1.58% |
| 2018 | $3,188,600,927 | $2,775,895,516 | +1.57% |
| 2017 | $2,980,057,378 | $2,701,241,060 | +1.46% |
| 2016 | $2,813,278,869 | $2,609,591,838 | +1.28% |
| 2015 | $2,573,905,971 | $2,573,905,971 | +0.83% |
| 2014 | $2,914,012,679 | $2,549,481,885 | +0.44% |
| 2013 | $2,690,110,521 | $2,418,125,854 | +0.39% |
| 2012 | $2,427,200,389 | $2,284,350,973 | +0.33% |
| 2011 | $2,505,740,669 | $2,133,282,898 | −0.49% |
| 2010 | $2,331,796,784 | $2,059,822,159 | −0.66% |
| 2009 | $2,296,065,170 | $2,067,675,563 | −0.02% |
| 2008 | $2,489,873,250 | $2,166,314,314 | +0.05% |
| 2007 | $2,339,015,313 | – | +0.09% |
| 2006 | $2,017,680,835 | – | +0.14% |
| 2005 | $1,759,739,599 | – | +0.72% |
| 2004 | $1,724,770,771 | – | +1.25% |
| 2003 | $1,501,941,581 | – | +1.27% |
| 2002 | $1,275,093,689 | – | +1.27% |
| 2001 | $1,160,268,212 | – | +1.26% |
| 2000 | $1,067,109,531 | – | +0.99% |
| 1999 | $1,127,684,827 | – | +0.72% |
| 1998 | $1,104,744,235 | – | +0.79% |
| 1997 | $933,763,083 | – | +0.82% |
| 1996 | $989,536,915 | – | +0.77% |
| 1995 | $901,404,710 | – | −0.75% |
| 1994 | $758,739,179 | – | −2.14% |
| 1993 | $760,957,190 | – | −1.93% |
| 1992 | $912,670,413 | – | −1.70% |
| 1991 | $909,253,215 | – | −1.43% |
| 1990 | $960,805,409 | – | −0.03% |
| 1989 | $871,935,350 | – | +1.18% |
| 1988 | $968,576,957 | – | +1.07% |
| 1987 | $886,508,622 | – | +0.99% |
| 1986 | $688,914,289 | – | +0.93% |
| 1985 | $459,307,281 | – | +0.97% |
| 1984 | $426,008,865 | – | +1.05% |
| 1983 | $486,605,128 | – | +1.13% |
| 1982 | $444,047,495 | – | +1.25% |
| 1981 | $456,244,919 | – | +1.29% |
| 1980 | $493,014,300 | – | +1.30% |
| 1979 | $448,568,493 | – | +1.32% |
| 1978 | $397,833,035 | – | +1.21% |
| 1977 | $347,798,305 | – | +1.09% |
| 1976 | $270,470,345 | – | +1.11% |
| 1975 | $227,404,436 | – | +1.15% |
| 1974 | $196,771,071 | – | +1.19% |
| 1973 | $161,236,466 | – | +1.18% |
| 1972 | $119,335,898 | – | +1.21% |
| 1971 | $99,219,083 | – | +1.13% |
| 1970 | $84,933,333 | – | +0.95% |
| 1969 | $70,106,667 | – | +0.92% |
| 1968 | $65,186,667 | – | +0.96% |
| 1967 | $66,225,404 | – | +1.05% |
| 1966 | $64,397,131 | – | +1.29% |
| 1965 | $57,954,522 | – | +1.39% |
Sources:
- IMF, World Economic Outlook (October 2026).
- World Bank
- National Accounts Data – United Nations Statistics Division
- World Population Prospects: The 2024 Revision – United Nations Population Division