GNI (current US$) in Faroe Islands
Faroe Islands: GNI (current US$) was 4.12 billion current US$ in 2024. ◆ Volatile
Latest (2024)
4.12 billion current US$
Change on year
up 3.8%
World rank
174th
of 210 countries
All-time high
4.12 billion current US$
in 2024
All-time low
52.15 million current US$
in 1965
Years of data
50
1965–2024
GNI in Faroe Islands, 1965–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
In 2024, gni in Faroe Islands stood at 4.12 billion current US$. That is the highest value across all 50 years on record.
Compared with earlier readings it is up 3.8% on the previous year and up 36.5% over ten years.
Over the whole period, gni in Faroe Islands peaked at 4.12 billion current US$ in 2024 and was at its lowest, 52.15 million current US$, in 1965.
That places Faroe Islands 174th out of 210 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GNI (current US$) in Faroe Islands, year by year
| Year | current US$ | Change |
|---|---|---|
| 1965 | 52.15 million current US$ | — |
| 1966 | 58.08 million current US$ | +11.4% |
| 1967 | 59.79 million current US$ | +2.9% |
| 1968 | 58.85 million current US$ | -1.6% |
| 1969 | 62.55 million current US$ | +6.3% |
| 1970 | 76.08 million current US$ | +21.6% |
| 1971 | 88.81 million current US$ | +16.7% |
| 1972 | 107.28 million current US$ | +20.8% |
| 1973 | 144.18 million current US$ | +34.4% |
| 1974 | 178.61 million current US$ | +23.9% |
| 1975 | 207.30 million current US$ | +16.1% |
| 1976 | 242.22 million current US$ | +16.8% |
| 1977 | 310.54 million current US$ | +28.2% |
| 1978 | 354.10 million current US$ | +14.0% |
| 1979 | 395.92 million current US$ | +11.8% |
| 1980 | 438.97 million current US$ | +10.9% |
| 1981 | 396.86 million current US$ | -9.6% |
| 1982 | 395.44 million current US$ | -0.4% |
| 1983 | 435.76 million current US$ | +10.2% |
| 1984 | 412.01 million current US$ | -5.5% |
| 1985 | 440.43 million current US$ | +6.9% |
| 1986 | 644.05 million current US$ | +46.2% |
| 1987 | 822.33 million current US$ | +27.7% |
| 1998 | 1.14 billion current US$ | +38.5% |
| 1999 | 1.17 billion current US$ | +2.8% |
| 2000 | 1.11 billion current US$ | -5.3% |
| 2001 | 1.19 billion current US$ | +7.5% |
| 2002 | 1.32 billion current US$ | +10.4% |
| 2003 | 1.56 billion current US$ | +18.4% |
| 2004 | 1.79 billion current US$ | +15.0% |
| 2005 | 1.82 billion current US$ | +1.7% |
| 2006 | 2.09 billion current US$ | +14.5% |
| 2007 | 2.41 billion current US$ | +15.5% |
| 2008 | 2.51 billion current US$ | +4.0% |
| 2009 | 2.24 billion current US$ | -10.4% |
| 2010 | 2.36 billion current US$ | +5.3% |
| 2011 | 2.64 billion current US$ | +11.8% |
| 2012 | 2.55 billion current US$ | -3.3% |
| 2013 | 2.84 billion current US$ | +11.1% |
| 2014 | 3.02 billion current US$ | +6.4% |
| 2015 | 2.64 billion current US$ | -12.4% |
| 2016 | 2.92 billion current US$ | +10.3% |
| 2017 | 3.08 billion current US$ | +5.6% |
| 2018 | 3.28 billion current US$ | +6.5% |
| 2019 | 3.36 billion current US$ | +2.5% |
| 2020 | 3.35 billion current US$ | -0.3% |
| 2021 | 3.83 billion current US$ | +14.2% |
| 2022 | 3.70 billion current US$ | -3.2% |
| 2023 | 3.97 billion current US$ | +7.2% |
| 2024 | 4.12 billion current US$ | +3.8% |
Faroe Islands compared with similar countries
- Faroe Islands's 4.12 billion current US$ is below the median for high income countries, which is 97.30 billion current US$, 4% of the median. (78 countries reporting)
- Faroe Islands's 4.12 billion current US$ is below the median for Europe & Central Asia, which is 103.95 billion current US$, 4% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 58.28 million current US$ | 52.15 million current US$ | 62.55 million current US$ | 5 |
| 1970s | 210.50 million current US$ | 76.08 million current US$ | 395.92 million current US$ | 10 |
| 1980s | 498.23 million current US$ | 395.44 million current US$ | 822.33 million current US$ | 8 |
| 1990s | 1.15 billion current US$ | 1.14 billion current US$ | 1.17 billion current US$ | 2 |
| 2000s | 1.80 billion current US$ | 1.11 billion current US$ | 2.51 billion current US$ | 10 |
| 2010s | 2.87 billion current US$ | 2.36 billion current US$ | 3.36 billion current US$ | 10 |
| 2020s | 3.79 billion current US$ | 3.35 billion current US$ | 4.12 billion current US$ | 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$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is gni in Faroe Islands?
- Gni in Faroe Islands was 4.12 billion current US$ in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gni recorded in Faroe Islands?
- The highest recorded value was 4.12 billion current US$ in 2024.
- What is the lowest gni recorded in Faroe Islands?
- The lowest recorded value was 52.15 million current US$ in 1965.
- How does Faroe Islands rank for gni?
- Faroe Islands ranks 174th out of 210 countries with data for 2024.
- Is gni rising or falling in Faroe Islands?
- Over the last ten years it is up 36.5%. 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 GNI (current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 50 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross national income is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.