GDP per capita growth in Faroe Islands
Faroe Islands: GDP per capita growth 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 167th of 213 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 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% |
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
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Services, value added (current US$), per unit of GDP 0.5383 current US$ per US$ of GDP (2024)
- Services, value added (current US$), per capita 39,926 current US$ per person (2024)
- Services, value added (current LCU), annual growth rate 7.22 % change on previous year (2024)
- Services, value added (current LCU), per unit of GDP 3.71 current LCU per US$ of GDP (2024)
- Services, value added (current LCU), per capita 275,271 current LCU per person (2024)
- GDP deflator (base year varies by country), annual growth rate 2 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8819 current US$ per US$ of GDP (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 167th out of 213 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.
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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.