GDP (constant LCU), per unit of GDP (Country official) in Faroe Islands
Faroe Islands: GDP (constant LCU), per unit of GDP (Country official) was 5.09 constant LCU per US$ of GDP in 2024. ▼ Falling
GDP (constant LCU), per unit of GDP in Faroe Islands, 2008–2024
Source: Statizoid (derived). Measured in constant LCU per US$ of GDP.
Analysis
In 2024, gdp (constant lcu), per unit of gdp in Faroe Islands stood at 5.09 constant LCU per US$ of GDP. That is the lowest value across all 17 years on record.
Compared with earlier readings it is down 1.9% on the previous year and down 8.6% over ten years.
Over the whole period, gdp (constant lcu), per unit of gdp in Faroe Islands peaked at 6.37 constant LCU per US$ of GDP in 2015 and was at its lowest, 5.09 constant LCU per US$ of GDP, in 2024.
That places Faroe Islands 107th out of 212 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 17 years of available data.
GDP (constant LCU), per unit of GDP (Country official) in Faroe Islands, year by year
| Year | constant LCU per US$ of GDP | Change |
|---|---|---|
| 2008 | 5.54 constant LCU per US$ of GDP | — |
| 2009 | 5.73 constant LCU per US$ of GDP | +3.5% |
| 2010 | 5.62 constant LCU per US$ of GDP | -1.9% |
| 2011 | 5.42 constant LCU per US$ of GDP | -3.6% |
| 2012 | 5.99 constant LCU per US$ of GDP | +10.5% |
| 2013 | 5.72 constant LCU per US$ of GDP | -4.5% |
| 2014 | 5.57 constant LCU per US$ of GDP | -2.7% |
| 2015 | 6.37 constant LCU per US$ of GDP | +14.3% |
| 2016 | 5.91 constant LCU per US$ of GDP | -7.2% |
| 2017 | 5.77 constant LCU per US$ of GDP | -2.3% |
| 2018 | 5.54 constant LCU per US$ of GDP | -4.0% |
| 2019 | 5.66 constant LCU per US$ of GDP | +2.0% |
| 2020 | 5.55 constant LCU per US$ of GDP | -1.8% |
| 2021 | 5.16 constant LCU per US$ of GDP | -7.1% |
| 2022 | 5.49 constant LCU per US$ of GDP | +6.3% |
| 2023 | 5.19 constant LCU per US$ of GDP | -5.4% |
| 2024 | 5.09 constant LCU per US$ of GDP | -1.9% |
Faroe Islands compared with similar countries
- Faroe Islands's 5.09 constant LCU per US$ of GDP is above the median for high income countries, which is 0.9104 constant LCU per US$ of GDP, 5.6× the median. (82 countries reporting)
- Faroe Islands's 5.09 constant LCU per US$ of GDP is above the median for Europe & Central Asia, which is 0.7785 constant LCU per US$ of GDP, 6.5× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5.64 constant LCU per US$ of GDP | 5.54 constant LCU per US$ of GDP | 5.73 constant LCU per US$ of GDP | 2 |
| 2010s | 5.76 constant LCU per US$ of GDP | 5.42 constant LCU per US$ of GDP | 6.37 constant LCU per US$ of GDP | 10 |
| 2020s | 5.3 constant LCU per US$ of GDP | 5.09 constant LCU per US$ of GDP | 5.55 constant LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 104 Trinidad and Tobago 5.92 constant LCU per US$ of GDP compare
- 105 Denmark 5.77 constant LCU per US$ of GDP compare
- 106 Guatemala 5.17 constant LCU per US$ of GDP compare
- 108 Bolivia 5.09 constant LCU per US$ of GDP compare
- 109 Greenland 4.89 constant LCU per US$ of GDP compare
- 110 Sao Tome and Principe 4.36 constant LCU per US$ of GDP compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is gdp (constant lcu), per unit of gdp in Faroe Islands?
- Gdp (constant lcu), per unit of gdp in Faroe Islands was 5.09 constant LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gdp (constant lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 6.37 constant LCU per US$ of GDP in 2015.
- What is the lowest gdp (constant lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 5.09 constant LCU per US$ of GDP in 2024.
- How does Faroe Islands rank for gdp (constant lcu), per unit of gdp?
- Faroe Islands ranks 107th out of 212 countries with data for 2024.
- Is gdp (constant lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is down 8.6%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of GDP (constant LCU), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
GDP (constant LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
GDP (constant LCU) ÷ GDP (current US$)
Computed from
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
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
GDP (constant LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.