GNI: linked series in Faroe Islands
Faroe Islands: GNI: linked series was 28.42 billion current LCU in 2024. ▲ Rising
GNI: linked series in Faroe Islands, 2008–2024
Source: Staff estimates, World Bank (WB). Measured in current LCU.
Analysis
In 2024, gni: linked series in Faroe Islands stood at 28.42 billion current LCU. That is the highest value across all 17 years on record.
Compared with earlier readings it is up 3.9% on the previous year and up 67.7% over ten years.
Over the whole period, gni: linked series in Faroe Islands peaked at 28.42 billion current LCU in 2024 and was at its lowest, 12.03 billion current LCU, in 2009.
Faroe Islands ranks 167th of 207 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
GNI: linked series in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 2008 | 12.77 billion current LCU | — |
| 2009 | 12.03 billion current LCU | -5.8% |
| 2010 | 13.28 billion current LCU | +10.4% |
| 2011 | 14.18 billion current LCU | +6.7% |
| 2012 | 14.79 billion current LCU | +4.3% |
| 2013 | 15.93 billion current LCU | +7.7% |
| 2014 | 16.94 billion current LCU | +6.3% |
| 2015 | 17.79 billion current LCU | +5.0% |
| 2016 | 19.63 billion current LCU | +10.4% |
| 2017 | 20.34 billion current LCU | +3.6% |
| 2018 | 20.71 billion current LCU | +1.8% |
| 2019 | 22.41 billion current LCU | +8.2% |
| 2020 | 21.92 billion current LCU | -2.2% |
| 2021 | 24.06 billion current LCU | +9.8% |
| 2022 | 26.21 billion current LCU | +9.0% |
| 2023 | 27.36 billion current LCU | +4.4% |
| 2024 | 28.42 billion current LCU | +3.9% |
Faroe Islands compared with similar countries
- Faroe Islands's 28.42 billion current LCU is below the median for high income countries, which is 291.94 billion current LCU, 10% of the median. (76 countries reporting)
- Faroe Islands's 28.42 billion current LCU is below the median for Europe & Central Asia, which is 437.80 billion current LCU, 6% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 12.40 billion current LCU | 12.03 billion current LCU | 12.77 billion current LCU | 2 |
| 2010s | 17.60 billion current LCU | 13.28 billion current LCU | 22.41 billion current LCU | 10 |
| 2020s | 25.59 billion current LCU | 21.92 billion current LCU | 28.42 billion current LCU | 5 |
Countries ranked near Faroe Islands
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 gni: linked series in Faroe Islands?
- Gni: linked series in Faroe Islands was 28.42 billion current LCU in 2024, according to Staff estimates, World Bank (WB).
- What is the highest gni: linked series recorded in Faroe Islands?
- The highest recorded value was 28.42 billion current LCU in 2024.
- What is the lowest gni: linked series recorded in Faroe Islands?
- The lowest recorded value was 12.03 billion current LCU in 2009.
- How does Faroe Islands rank for gni: linked series?
- Faroe Islands ranks 167th out of 207 countries with data for 2024.
- Is gni: linked series rising or falling in Faroe Islands?
- Over the last ten years it is up 67.7%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of GNI: linked series (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 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 series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.