GDP per capita growth (annual %) (Country official) in Faroe Islands
Faroe Islands: GDP per capita growth (annual %) (Country official) was 0.4% in 2024. ◆ Volatile
GDP per capita growth in Faroe Islands, 2009–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in annual %.
Analysis
The most recent figure for gdp per capita growth in Faroe Islands is 0.4%, measured in 2024.
Compared with earlier readings it is down 82.1% on the previous year and down 92.1% over ten years.
Over the whole period, gdp per capita growth in Faroe Islands peaked at 7.6% in 2012 and was at its lowest, -5.0%, in 2009.
Faroe Islands ranks 169th of 215 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP per capita growth (annual %) (Country official) in Faroe Islands, year by year
| Year | annual % | Change |
|---|---|---|
| 2009 | -5.0% | — |
| 2010 | -0.1% | -97.9% |
| 2011 | 3.8% | -3712.3% |
| 2012 | 7.6% | +100.6% |
| 2013 | 6.0% | -22.1% |
| 2014 | 5.0% | -15.4% |
| 2015 | -0.0% | -100.3% |
| 2016 | 0.2% | -1679.6% |
| 2017 | 2.0% | +791.2% |
| 2018 | 1.1% | -45.2% |
| 2019 | 2.9% | +163.4% |
| 2020 | -3.1% | -204.8% |
| 2021 | 3.6% | -217.8% |
| 2022 | 2.7% | -26.1% |
| 2023 | 2.2% | -17.2% |
| 2024 | 0.4% | -82.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.4% is below the median for high income countries, which is 1.7%, 23% of the median. (83 countries reporting)
- Faroe Islands's 0.4% is below the median for Europe & Central Asia, which is 1.8%, 22% of the median. (56 countries reporting)
Biggest year-on-year movements
Years where GDP per capita growth (annual %) (Country official) in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2011 | +3712.3% | -0.1% | 3.8% |
| 2016 | +1679.6% | -0.0% | 0.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -5.0% | -5.0% | -5.0% | 1 |
| 2010s | 2.9% | -0.1% | 7.6% | 10 |
| 2020s | 1.2% | -3.1% | 3.6% | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Households and NPISHs Final consumption expenditure (current US$) 2.82 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 142,484 current LCU per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Households and NPISHs Final consumption expenditure (current US$) 0.4061 current US$ per US$ of GDP (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is gdp per capita growth in Faroe Islands?
- Gdp per capita growth in Faroe Islands was 0.4% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp per capita growth recorded in Faroe Islands?
- The highest recorded value was 7.6% in 2012.
- What is the lowest gdp per capita growth recorded in Faroe Islands?
- The lowest recorded value was -5.0% in 2009.
- How does Faroe Islands rank for gdp per capita growth?
- Faroe Islands ranks 169th out of 215 countries with data for 2024.
- Is gdp per capita growth rising or falling in Faroe Islands?
- Over the last ten years it is down 92.1%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of GDP per capita growth (annual %). Statizoid updates them automatically from the source API.
Download this data
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About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate.This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.