GDP (current LCU), per unit of GDP (Country official) in Faroe Islands
Faroe Islands: GDP (current LCU), per unit of GDP (Country official) was 6.89 current LCU per US$ of GDP in 2024. ▼ Falling
Latest (2024)
6.89 current LCU per US$ of GDP
Change on year
up 0.1%
World rank
115th
of 212 countries
All-time high
10.6 current LCU per US$ of GDP
in 1985
All-time low
5.1 current LCU per US$ of GDP
in 2008
Years of data
60
1965–2024
GDP (current LCU), per unit of GDP in Faroe Islands, 1965–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
Faroe Islands recorded 6.89 current LCU per US$ of GDP for gdp (current lcu), per unit of gdp in 2024.
That represents a change of up 0.1% on the previous year and up 22.8% over ten years.
Over the whole period, gdp (current lcu), per unit of gdp in Faroe Islands peaked at 10.6 current LCU per US$ of GDP in 1985 and was at its lowest, 5.1 current LCU per US$ of GDP, in 2008.
That places Faroe Islands 115th 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 60 years of available data.
GDP (current LCU), per unit of GDP (Country official) in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1965 | 6.91 current LCU per US$ of GDP | — |
| 1966 | 6.91 current LCU per US$ of GDP | +0.0% |
| 1967 | 6.96 current LCU per US$ of GDP | +0.7% |
| 1968 | 7.5 current LCU per US$ of GDP | +7.8% |
| 1969 | 7.5 current LCU per US$ of GDP | +0.0% |
| 1970 | 7.5 current LCU per US$ of GDP | +0.0% |
| 1971 | 7.42 current LCU per US$ of GDP | -1.1% |
| 1972 | 6.95 current LCU per US$ of GDP | -6.3% |
| 1973 | 6.05 current LCU per US$ of GDP | -12.9% |
| 1974 | 6.09 current LCU per US$ of GDP | +0.8% |
| 1975 | 5.75 current LCU per US$ of GDP | -5.7% |
| 1976 | 6.05 current LCU per US$ of GDP | +5.2% |
| 1977 | 6 current LCU per US$ of GDP | -0.7% |
| 1978 | 5.51 current LCU per US$ of GDP | -8.1% |
| 1979 | 5.26 current LCU per US$ of GDP | -4.6% |
| 1980 | 5.64 current LCU per US$ of GDP | +7.1% |
| 1981 | 7.12 current LCU per US$ of GDP | +26.4% |
| 1982 | 8.33 current LCU per US$ of GDP | +17.0% |
| 1983 | 9.14 current LCU per US$ of GDP | +9.8% |
| 1984 | 10.36 current LCU per US$ of GDP | +13.2% |
| 1985 | 10.6 current LCU per US$ of GDP | +2.3% |
| 1986 | 8.09 current LCU per US$ of GDP | -23.6% |
| 1987 | 6.84 current LCU per US$ of GDP | -15.5% |
| 1988 | 6.73 current LCU per US$ of GDP | -1.6% |
| 1989 | 7.31 current LCU per US$ of GDP | +8.6% |
| 1990 | 6.19 current LCU per US$ of GDP | -15.3% |
| 1991 | 6.4 current LCU per US$ of GDP | +3.4% |
| 1992 | 6.04 current LCU per US$ of GDP | -5.6% |
| 1993 | 6.48 current LCU per US$ of GDP | +7.4% |
| 1994 | 6.36 current LCU per US$ of GDP | -1.9% |
| 1995 | 5.6 current LCU per US$ of GDP | -11.9% |
| 1996 | 5.8 current LCU per US$ of GDP | +3.5% |
| 1997 | 6.6 current LCU per US$ of GDP | +13.9% |
| 1998 | 6.7 current LCU per US$ of GDP | +1.5% |
| 1999 | 6.98 current LCU per US$ of GDP | +4.1% |
| 2000 | 8.08 current LCU per US$ of GDP | +15.9% |
| 2001 | 8.32 current LCU per US$ of GDP | +3.0% |
| 2002 | 7.89 current LCU per US$ of GDP | -5.1% |
| 2003 | 6.59 current LCU per US$ of GDP | -16.6% |
| 2004 | 5.99 current LCU per US$ of GDP | -9.1% |
| 2005 | 6 current LCU per US$ of GDP | +0.1% |
| 2006 | 5.95 current LCU per US$ of GDP | -0.8% |
| 2007 | 5.44 current LCU per US$ of GDP | -8.5% |
| 2008 | 5.1 current LCU per US$ of GDP | -6.3% |
| 2009 | 5.36 current LCU per US$ of GDP | +5.2% |
| 2010 | 5.62 current LCU per US$ of GDP | +4.9% |
| 2011 | 5.37 current LCU per US$ of GDP | -4.5% |
| 2012 | 5.79 current LCU per US$ of GDP | +7.9% |
| 2013 | 5.62 current LCU per US$ of GDP | -3.0% |
| 2014 | 5.61 current LCU per US$ of GDP | -0.1% |
| 2015 | 6.73 current LCU per US$ of GDP | +19.9% |
| 2016 | 6.73 current LCU per US$ of GDP | +0.1% |
| 2017 | 6.6 current LCU per US$ of GDP | -1.9% |
| 2018 | 6.31 current LCU per US$ of GDP | -4.4% |
| 2019 | 6.67 current LCU per US$ of GDP | +5.6% |
| 2020 | 6.54 current LCU per US$ of GDP | -1.9% |
| 2021 | 6.29 current LCU per US$ of GDP | -3.9% |
| 2022 | 7.08 current LCU per US$ of GDP | +12.6% |
| 2023 | 6.89 current LCU per US$ of GDP | -2.6% |
| 2024 | 6.89 current LCU per US$ of GDP | +0.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 6.89 current LCU per US$ of GDP is above the median for high income countries, which is 1 current LCU per US$ of GDP, 6.9× the median. (82 countries reporting)
- Faroe Islands's 6.89 current LCU per US$ of GDP is above the median for Europe & Central Asia, which is 0.9244 current LCU per US$ of GDP, 7.5× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.15 current LCU per US$ of GDP | 6.91 current LCU per US$ of GDP | 7.5 current LCU per US$ of GDP | 5 |
| 1970s | 6.26 current LCU per US$ of GDP | 5.26 current LCU per US$ of GDP | 7.5 current LCU per US$ of GDP | 10 |
| 1980s | 8.02 current LCU per US$ of GDP | 5.64 current LCU per US$ of GDP | 10.6 current LCU per US$ of GDP | 10 |
| 1990s | 6.31 current LCU per US$ of GDP | 5.6 current LCU per US$ of GDP | 6.98 current LCU per US$ of GDP | 10 |
| 2000s | 6.47 current LCU per US$ of GDP | 5.1 current LCU per US$ of GDP | 8.32 current LCU per US$ of GDP | 10 |
| 2010s | 6.11 current LCU per US$ of GDP | 5.37 current LCU per US$ of GDP | 6.73 current LCU per US$ of GDP | 10 |
| 2020s | 6.74 current LCU per US$ of GDP | 6.29 current LCU per US$ of GDP | 7.08 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 112 Guatemala 7.68 current LCU per US$ of GDP compare
- 113 China 7.19 current LCU per US$ of GDP compare
- 114 Bolivia 6.91 current LCU per US$ of GDP compare
- 116 Greenland 6.89 current LCU per US$ of GDP compare
- 117 Trinidad and Tobago 6.75 current LCU per US$ of GDP compare
- 118 Denmark 6.62 current 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$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is gdp (current lcu), per unit of gdp in Faroe Islands?
- Gdp (current lcu), per unit of gdp in Faroe Islands was 6.89 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gdp (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 10.6 current LCU per US$ of GDP in 1985.
- What is the lowest gdp (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 5.1 current LCU per US$ of GDP in 2008.
- How does Faroe Islands rank for gdp (current lcu), per unit of gdp?
- Faroe Islands ranks 115th out of 212 countries with data for 2024.
- Is gdp (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 22.8%. 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 (current LCU), per unit of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
GDP (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
GDP (current LCU) ÷ GDP (current US$)
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 (current 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.