Gross domestic product (GDP), per square kilometre in Faroe Islands
Faroe Islands: Gross domestic product (GDP), per square kilometre was 2.85 million international-$ in 2021 prices per square kilometre in 2023. ▲ Rising
Gross domestic product (GDP), per square kilometre in Faroe Islands, 2008–2023
Source: Statizoid (derived). Measured in international-$ in 2021 prices per square kilometre.
Analysis
In 2023, gross domestic product (gdp), per square kilometre in Faroe Islands stood at 2.85 million international-$ in 2021 prices per square kilometre. That is the highest value across all 16 years on record.
The figure is up 3.2% on the previous year and up 35.4% over ten years.
Over the whole period, gross domestic product (gdp), per square kilometre in Faroe Islands peaked at 2.85 million international-$ in 2021 prices per square kilometre in 2023 and was at its lowest, 1.79 million international-$ in 2021 prices per square kilometre, in 2010.
Faroe Islands ranks 68th of 198 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 16 years of available data.
Gross domestic product (GDP), per square kilometre in Faroe Islands, year by year
| Year | international-$ in 2021 prices per square kilometre | Change |
|---|---|---|
| 2008 | 1.89 million international-$ in 2021 prices per square kilometre | — |
| 2009 | 1.80 million international-$ in 2021 prices per square kilometre | -4.6% |
| 2010 | 1.79 million international-$ in 2021 prices per square kilometre | -0.4% |
| 2011 | 1.86 million international-$ in 2021 prices per square kilometre | +3.6% |
| 2012 | 1.99 million international-$ in 2021 prices per square kilometre | +7.1% |
| 2013 | 2.11 million international-$ in 2021 prices per square kilometre | +5.9% |
| 2014 | 2.22 million international-$ in 2021 prices per square kilometre | +5.4% |
| 2015 | 2.24 million international-$ in 2021 prices per square kilometre | +1.0% |
| 2016 | 2.27 million international-$ in 2021 prices per square kilometre | +1.4% |
| 2017 | 2.35 million international-$ in 2021 prices per square kilometre | +3.5% |
| 2018 | 2.42 million international-$ in 2021 prices per square kilometre | +2.8% |
| 2019 | 2.53 million international-$ in 2021 prices per square kilometre | +4.5% |
| 2020 | 2.54 million international-$ in 2021 prices per square kilometre | +0.5% |
| 2021 | 2.66 million international-$ in 2021 prices per square kilometre | +4.8% |
| 2022 | 2.76 million international-$ in 2021 prices per square kilometre | +3.9% |
| 2023 | 2.85 million international-$ in 2021 prices per square kilometre | +3.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 2.85 million international-$ in 2021 prices per square kilometre is below the median for high income countries, which is 6.38 million international-$ in 2021 prices per square kilometre, 45% of the median. (74 countries reporting)
- Faroe Islands's 2.85 million international-$ in 2021 prices per square kilometre is above the median for Europe & Central Asia, which is 2.73 million international-$ in 2021 prices per square kilometre, 1.0× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.84 million international-$ in 2021 prices per square kilometre | 1.80 million international-$ in 2021 prices per square kilometre | 1.89 million international-$ in 2021 prices per square kilometre | 2 |
| 2010s | 2.18 million international-$ in 2021 prices per square kilometre | 1.79 million international-$ in 2021 prices per square kilometre | 2.53 million international-$ in 2021 prices per square kilometre | 10 |
| 2020s | 2.70 million international-$ in 2021 prices per square kilometre | 2.54 million international-$ in 2021 prices per square kilometre | 2.85 million international-$ in 2021 prices per square kilometre | 4 |
Countries ranked near Faroe Islands
- 65 Jamaica 2.99 million international-$ in 2021 prices per square kilometre compare
- 66 Thailand 2.98 million international-$ in 2021 prices per square kilometre compare
- 67 Greece 2.96 million international-$ in 2021 prices per square kilometre compare
- 69 Croatia 2.85 million international-$ in 2021 prices per square kilometre compare
- 70 United States 2.74 million international-$ in 2021 prices per square kilometre compare
- 71 Costa Rica 2.64 million international-$ in 2021 prices per square kilometre 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 gross domestic product (gdp), per square kilometre in Faroe Islands?
- Gross domestic product (gdp), per square kilometre in Faroe Islands was 2.85 million international-$ in 2021 prices per square kilometre in 2023, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), per square kilometre recorded in Faroe Islands?
- The highest recorded value was 2.85 million international-$ in 2021 prices per square kilometre in 2023.
- What is the lowest gross domestic product (gdp), per square kilometre recorded in Faroe Islands?
- The lowest recorded value was 1.79 million international-$ in 2021 prices per square kilometre in 2010.
- How does Faroe Islands rank for gross domestic product (gdp), per square kilometre?
- Faroe Islands ranks 68th out of 198 countries with data for 2023.
- Is gross domestic product (gdp), per square kilometre rising or falling in Faroe Islands?
- Over the last ten years it is up 35.4%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Gross domestic product (GDP), per square kilometre. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross domestic product (GDP) divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross domestic product (GDP) ÷ Land area (sq. km)
Computed from
- Gross domestic product (GDP) Eurostat, OECD, IMF, and World Bank (2026) – with minor processing by Our World in Data
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross domestic product (GDP) divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.