Final consumption expenditure (current US$), per capita in Faroe Islands
Faroe Islands: Final consumption expenditure (current US$), per capita was 50,788 current US$ per person in 2024. ▲ Rising
Final consumption expenditure (current US$), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
In 2024, final consumption expenditure (current us$), per capita in Faroe Islands stood at 50,788 current US$ per person. That is the highest value across all 27 years on record.
That represents a change of up 3.7% on the previous year and up 8.8% over ten years.
Over the whole period, final consumption expenditure (current us$), per capita in Faroe Islands peaked at 50,788 current US$ per person in 2024 and was at its lowest, 17,972 current US$ per person, in 2000.
Faroe Islands ranks 9th of 188 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 27 years of available data.
Final consumption expenditure (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 18,841 current US$ per person | — |
| 1999 | 19,810 current US$ per person | +5.1% |
| 2000 | 17,972 current US$ per person | -9.3% |
| 2001 | 18,823 current US$ per person | +4.7% |
| 2002 | 20,797 current US$ per person | +10.5% |
| 2003 | 26,050 current US$ per person | +25.3% |
| 2004 | 30,578 current US$ per person | +17.4% |
| 2005 | 34,516 current US$ per person | +12.9% |
| 2006 | 35,533 current US$ per person | +2.9% |
| 2007 | 40,178 current US$ per person | +13.1% |
| 2008 | 43,790 current US$ per person | +9.0% |
| 2009 | 43,297 current US$ per person | -1.1% |
| 2010 | 40,360 current US$ per person | -6.8% |
| 2011 | 43,732 current US$ per person | +8.4% |
| 2012 | 43,116 current US$ per person | -1.4% |
| 2013 | 45,489 current US$ per person | +5.5% |
| 2014 | 46,668 current US$ per person | +2.6% |
| 2015 | 39,590 current US$ per person | -15.2% |
| 2016 | 41,700 current US$ per person | +5.3% |
| 2017 | 42,195 current US$ per person | +1.2% |
| 2018 | 44,723 current US$ per person | +6.0% |
| 2019 | 43,815 current US$ per person | -2.0% |
| 2020 | 45,510 current US$ per person | +3.9% |
| 2021 | 49,054 current US$ per person | +7.8% |
| 2022 | 45,467 current US$ per person | -7.3% |
| 2023 | 48,978 current US$ per person | +7.7% |
| 2024 | 50,788 current US$ per person | +3.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19,325 current US$ per person | 18,841 current US$ per person | 19,810 current US$ per person | 2 |
| 2000s | 31,153 current US$ per person | 17,972 current US$ per person | 43,790 current US$ per person | 10 |
| 2010s | 43,139 current US$ per person | 39,590 current US$ per person | 46,668 current US$ per person | 10 |
| 2020s | 47,959 current US$ per person | 45,467 current US$ per person | 50,788 current US$ per person | 5 |
Countries ranked near Faroe Islands
- 6 Norway 61,575 current US$ per person compare
- 7 Denmark 51,467 current US$ per person compare
- 8 Netherlands 50,814 current US$ per person compare
- 10 Australia 48,850 current US$ per person compare
- 11 Ireland 47,974 current US$ per person compare
- 12 United Kingdom of Great Britain and Northern Ireland 47,040 current US$ per person compare
More economy & growth data for Faroe Islands
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual -6.93 % change on previous year (2024)
Frequently asked questions
- What is final consumption expenditure (current us$), per capita in Faroe Islands?
- Final consumption expenditure (current us$), per capita in Faroe Islands was 50,788 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest final consumption expenditure (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 50,788 current US$ per person in 2024.
- What is the lowest final consumption expenditure (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 17,972 current US$ per person in 2000.
- How does Faroe Islands rank for final consumption expenditure (current us$), per capita?
- Faroe Islands ranks 9th out of 188 countries with data for 2024.
- Is final consumption expenditure (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 8.8%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Final consumption expenditure (current US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Final consumption expenditure (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Final consumption expenditure (current US$) ÷ Population, total
Computed from
- Final consumption expenditure Country official statistics, National Statistical Offices (NSOs)
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Final consumption expenditure (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.