Annual gdp growth in Faroe Islands
Faroe Islands: Annual gdp growth was 2.49 in 2023. β Volatile
Latest (2023)
2.49
Change on year
down 30.1%
World rank
121st
of 211 countries
All-time high
7.08
in 2012
All-time low
-4.55
in 2009
Years of data
15
2009β2023
Annual gdp growth in Faroe Islands, 2009β2023
Source: Our World in Data.
Analysis
Faroe Islands recorded 2.49 for annual gdp growth in 2023.
Compared with earlier readings it is down 30.1% on the previous year and down 57.5% over ten years.
Over the whole period, annual gdp growth in Faroe Islands peaked at 7.08 in 2012 and was at its lowest, -4.55, in 2009.
That places Faroe Islands 121st out of 211 countries with data for 2023, 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 |
|---|---|---|---|---|
| 2000s | -4.55 | -4.55 | -4.55 | 1 |
| 2010s | 3.47 | -0.38 | 7.08 | 10 |
| 2020s | 2.48 | -1.64 | 5.5 | 4 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Manufacturing, value added 383.50 million current US$ (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- External balance on goods and services 3.4% (2024)
- Trade 105.8% (2024)
- Agriculture, forestry, and fishing, value added 4.49 billion current LCU (2024)
- Industry (including construction), value added 741.68 million current US$ (2024)
- Industry (including construction), value added 18.3% (2024)
- Industry (including construction), value added 5.11 billion current LCU (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is annual gdp growth in Faroe Islands?
- Annual gdp growth in Faroe Islands was 2.49 in 2023, according to Our World in Data.
- What is the highest annual gdp growth recorded in Faroe Islands?
- The highest recorded value was 7.08 in 2012.
- What is the lowest annual gdp growth recorded in Faroe Islands?
- The lowest recorded value was -4.55 in 2009.
- How does Faroe Islands rank for annual gdp growth?
- Faroe Islands ranks 121st out of 211 countries with data for 2023.
- Is annual gdp growth rising or falling in Faroe Islands?
- Over the last ten years it is down 57.5%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Our World in Data, published as part of Annual gdp growth. Statizoid updates them automatically from the source API.
Download this data
CSV Β· JSON β 15 observations, free to reuse under CC BY 4.0 (Our World in Data).