Gdp worldbank in Faroe Islands
Faroe Islands: Gdp worldbank was 3.94 billion in 2024. ▲ Rising
Latest (2024)
3.94 billion
Change on year
up 0.8%
World rank
177th
of 198 countries
All-time high
3.94 billion
in 2024
All-time low
2.50 billion
in 2010
Years of data
17
2008–2024
Gdp worldbank in Faroe Islands, 2008–2024
Source: Our World in Data.
Analysis
In 2024, gdp worldbank in Faroe Islands stood at 3.94 billion. That is the highest value across all 17 years on record.
That represents a change of up 0.8% on the previous year and up 27.1% over ten years.
Over the whole period, gdp worldbank in Faroe Islands peaked at 3.94 billion in 2024 and was at its lowest, 2.50 billion, in 2010.
That places Faroe Islands 177th out of 198 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Gdp worldbank in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2008 | 2.63 billion | — |
| 2009 | 2.51 billion | -4.6% |
| 2010 | 2.50 billion | -0.4% |
| 2011 | 2.59 billion | +3.6% |
| 2012 | 2.78 billion | +7.1% |
| 2013 | 2.94 billion | +5.9% |
| 2014 | 3.10 billion | +5.4% |
| 2015 | 3.13 billion | +1.0% |
| 2016 | 3.17 billion | +1.4% |
| 2017 | 3.28 billion | +3.5% |
| 2018 | 3.38 billion | +2.8% |
| 2019 | 3.53 billion | +4.5% |
| 2020 | 3.47 billion | -1.6% |
| 2021 | 3.65 billion | +5.1% |
| 2022 | 3.79 billion | +3.9% |
| 2023 | 3.91 billion | +3.2% |
| 2024 | 3.94 billion | +0.8% |
Faroe Islands compared with similar countries
- Faroe Islands's 3.94 billion is below the median for high income countries, which is 209.44 billion, 2% of the median. (74 countries reporting)
- Faroe Islands's 3.94 billion is below the median for Europe & Central Asia, which is 249.10 billion, 2% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.57 billion | 2.51 billion | 2.63 billion | 2 |
| 2010s | 3.04 billion | 2.50 billion | 3.53 billion | 10 |
| 2020s | 3.75 billion | 3.47 billion | 3.94 billion | 5 |
Countries ranked near Faroe Islands
- 174 Curacao 4.49 billion compare
- 175 Saint Lucia 4.41 billion compare
- 176 Greenland 4.04 billion compare
- 178 Seychelles 3.76 billion compare
- 179 Comoros 3.20 billion compare
- 180 Antigua and Barbuda 2.88 billion compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ 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)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is gdp worldbank in Faroe Islands?
- Gdp worldbank in Faroe Islands was 3.94 billion in 2024, according to Our World in Data.
- What is the highest gdp worldbank recorded in Faroe Islands?
- The highest recorded value was 3.94 billion in 2024.
- What is the lowest gdp worldbank recorded in Faroe Islands?
- The lowest recorded value was 2.50 billion in 2010.
- How does Faroe Islands rank for gdp worldbank?
- Faroe Islands ranks 177th out of 198 countries with data for 2024.
- Is gdp worldbank 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 Our World in Data, published as part of Gdp worldbank. Statizoid updates them automatically from the source API.
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CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (Our World in Data).