Gross domestic product (GDP) in Faroe Islands
Faroe Islands: Gross domestic product (GDP) was 3.24 billion constant 2015 US$ in 2024. ▲ Rising
Gross domestic product (GDP) in Faroe Islands, 2008–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data. Measured in constant 2015 US$.
Analysis
The most recent figure for gross domestic product (gdp) in Faroe Islands is 3.24 billion constant 2015 US$, measured in 2024. That is the highest value across all 17 years on record.
Compared with earlier readings it is up 0.8% on the previous year and up 27.1% over ten years.
Over the whole period, gross domestic product (gdp) in Faroe Islands peaked at 3.24 billion constant 2015 US$ in 2024 and was at its lowest, 2.06 billion constant 2015 US$, in 2010.
Faroe Islands ranks 174th of 209 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.12 billion constant 2015 US$ | 2.07 billion constant 2015 US$ | 2.17 billion constant 2015 US$ | 2 |
| 2010s | 2.50 billion constant 2015 US$ | 2.06 billion constant 2015 US$ | 2.90 billion constant 2015 US$ | 10 |
| 2020s | 3.08 billion constant 2015 US$ | 2.85 billion constant 2015 US$ | 3.24 billion constant 2015 US$ | 5 |
Countries ranked near Faroe Islands
- 171 United States Virgin Islands 3.90 billion constant 2015 US$ compare
- 172 Aruba 3.67 billion constant 2015 US$ compare
- 173 Andorra 3.51 billion constant 2015 US$ compare
- 175 Bhutan 3.18 billion constant 2015 US$ compare
- 176 Greenland 2.84 billion constant 2015 US$ compare
- 177 Curacao 2.81 billion constant 2015 US$ compare
More economy & growth data for Faroe Islands
- External balance on goods and services 938.80 million current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 2.07 billion current US$ (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
- Imports of goods and services 51.2% (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- Trade 105.8% (2024)
- Manufacturing, value added 383.50 million current US$ (2024)
- Agriculture, forestry, and fishing, value added 4.49 billion current LCU (2024)
- Gross capital formation 7.87 billion current LCU (2024)
Frequently asked questions
- What is gross domestic product (gdp) in Faroe Islands?
- Gross domestic product (gdp) in Faroe Islands was 3.24 billion constant 2015 US$ in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Faroe Islands?
- The highest recorded value was 3.24 billion constant 2015 US$ in 2024.
- What is the lowest gross domestic product (gdp) recorded in Faroe Islands?
- The lowest recorded value was 2.06 billion constant 2015 US$ in 2010.
- How does Faroe Islands rank for gross domestic product (gdp)?
- Faroe Islands ranks 174th out of 209 countries with data for 2024.
- Is gross domestic product (gdp) rising or falling in Faroe Islands?
- Over the last ten years it is up 27.1%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted by inflation but _does not_ account for differences in living costs between countries.