Gross national expenditure (current LCU), per capita (current capita) in Faroe Islands
Faroe Islands: Gross national expenditure (current LCU), per capita (current capita) was 494,217 current LCU per person in 2024. ▲ Rising
Gross national expenditure (current LCU), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per person.
Analysis
In 2024, gross national expenditure (current lcu), per capita in Faroe Islands stood at 494,217 current LCU per person. That is the highest value across all 27 years on record.
The figure is up 47.3% over ten years.
Over the whole period, gross national expenditure (current lcu), per capita in Faroe Islands peaked at 494,217 current LCU per person in 2024 and was at its lowest, 162,905 current LCU per person, in 1998.
That places Faroe Islands 63rd out of 186 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 27 years of available data.
Gross national expenditure (current LCU), per capita (current capita) in Faroe Islands, year by year
| Year | current LCU per person | Change |
|---|---|---|
| 1998 | 162,905 current LCU per person | — |
| 1999 | 179,429 current LCU per person | +10.1% |
| 2000 | 203,368 current LCU per person | +13.3% |
| 2001 | 210,752 current LCU per person | +3.6% |
| 2002 | 213,721 current LCU per person | +1.4% |
| 2003 | 236,305 current LCU per person | +10.6% |
| 2004 | 226,405 current LCU per person | -4.2% |
| 2005 | 255,036 current LCU per person | +12.6% |
| 2006 | 282,487 current LCU per person | +10.8% |
| 2007 | 303,326 current LCU per person | +7.4% |
| 2008 | 291,664 current LCU per person | -3.8% |
| 2009 | 276,358 current LCU per person | -5.2% |
| 2010 | 279,602 current LCU per person | +1.2% |
| 2011 | 279,842 current LCU per person | +0.1% |
| 2012 | 326,198 current LCU per person | +16.6% |
| 2013 | 323,109 current LCU per person | -0.9% |
| 2014 | 335,404 current LCU per person | +3.8% |
| 2015 | 351,235 current LCU per person | +4.7% |
| 2016 | 365,568 current LCU per person | +4.1% |
| 2017 | 370,603 current LCU per person | +1.4% |
| 2018 | 399,714 current LCU per person | +7.9% |
| 2019 | 408,378 current LCU per person | +2.2% |
| 2020 | 412,812 current LCU per person | +1.1% |
| 2021 | 434,400 current LCU per person | +5.2% |
| 2022 | 475,135 current LCU per person | +9.4% |
| 2023 | 494,151 current LCU per person | +4.0% |
| 2024 | 494,217 current LCU per person | +0.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 494,217 current LCU per person is above the median for high income countries, which is 80,494 current LCU per person, 6.1× the median. (66 countries reporting)
- Faroe Islands's 494,217 current LCU per person is above the median for Europe & Central Asia, which is 54,549 current LCU per person, 9.1× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 171,167 current LCU per person | 162,905 current LCU per person | 179,429 current LCU per person | 2 |
| 2000s | 249,942 current LCU per person | 203,368 current LCU per person | 303,326 current LCU per person | 10 |
| 2010s | 343,965 current LCU per person | 279,602 current LCU per person | 408,378 current LCU per person | 10 |
| 2020s | 462,143 current LCU per person | 412,812 current LCU per person | 494,217 current LCU per person | 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 unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current US$), per capita 71,683 current US$ per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (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 national expenditure (current lcu), per capita in Faroe Islands?
- Gross national expenditure (current lcu), per capita in Faroe Islands was 494,217 current LCU per person in 2024, according to Statizoid (derived).
- What is the highest gross national expenditure (current lcu), per capita recorded in Faroe Islands?
- The highest recorded value was 494,217 current LCU per person in 2024.
- What is the lowest gross national expenditure (current lcu), per capita recorded in Faroe Islands?
- The lowest recorded value was 162,905 current LCU per person in 1998.
- How does Faroe Islands rank for gross national expenditure (current lcu), per capita?
- Faroe Islands ranks 63rd out of 186 countries with data for 2024.
- Is gross national expenditure (current lcu), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 47.3%. 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 national expenditure (current LCU), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross national expenditure (current LCU) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross national expenditure (current LCU) ÷ Population, total
Computed from
- Gross national expenditure Country official statistics, National Statistical Organizations and/or Central Banks
- Population, total World Population Prospects, United Nations (UN)
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 national expenditure (current LCU) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.