Gross national expenditure (current US$), per capita in Faroe Islands
Faroe Islands: Gross national expenditure (current US$), per capita was 71,683 current US$ per person in 2024. ▲ Rising
Gross national expenditure (current US$), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
In 2024, gross national expenditure (current us$), per capita in Faroe Islands stood at 71,683 current US$ per person.
Compared with earlier readings it is down 0.1% on the previous year and up 20.0% over ten years.
Over the whole period, gross national expenditure (current us$), per capita in Faroe Islands peaked at 71,723 current US$ per person in 2023 and was at its lowest, 24,311 current US$ per person, in 1998.
Faroe Islands ranks 8th of 186 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 27 years of available data.
Gross national expenditure (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 24,311 current US$ per person | — |
| 1999 | 25,720 current US$ per person | +5.8% |
| 2000 | 25,160 current US$ per person | -2.2% |
| 2001 | 25,322 current US$ per person | +0.6% |
| 2002 | 27,072 current US$ per person | +6.9% |
| 2003 | 35,871 current US$ per person | +32.5% |
| 2004 | 37,791 current US$ per person | +5.4% |
| 2005 | 42,528 current US$ per person | +12.5% |
| 2006 | 47,502 current US$ per person | +11.7% |
| 2007 | 55,721 current US$ per person | +17.3% |
| 2008 | 57,210 current US$ per person | +2.7% |
| 2009 | 51,551 current US$ per person | -9.9% |
| 2010 | 49,715 current US$ per person | -3.6% |
| 2011 | 52,125 current US$ per person | +4.8% |
| 2012 | 56,314 current US$ per person | +8.0% |
| 2013 | 57,530 current US$ per person | +2.2% |
| 2014 | 59,760 current US$ per person | +3.9% |
| 2015 | 52,206 current US$ per person | -12.6% |
| 2016 | 54,305 current US$ per person | +4.0% |
| 2017 | 56,128 current US$ per person | +3.4% |
| 2018 | 63,300 current US$ per person | +12.8% |
| 2019 | 61,231 current US$ per person | -3.3% |
| 2020 | 63,100 current US$ per person | +3.1% |
| 2021 | 69,094 current US$ per person | +9.5% |
| 2022 | 67,146 current US$ per person | -2.8% |
| 2023 | 71,723 current US$ per person | +6.8% |
| 2024 | 71,683 current US$ per person | -0.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 25,016 current US$ per person | 24,311 current US$ per person | 25,720 current US$ per person | 2 |
| 2000s | 40,573 current US$ per person | 25,160 current US$ per person | 57,210 current US$ per person | 10 |
| 2010s | 56,261 current US$ per person | 49,715 current US$ per person | 63,300 current US$ per person | 10 |
| 2020s | 68,549 current US$ per person | 63,100 current US$ per person | 71,723 current US$ per person | 5 |
Countries ranked near Faroe Islands
- 5 United States of America 88,812 current US$ per person compare
- 6 Norway 83,533 current US$ per person compare
- 7 Ireland 78,151 current US$ per person compare
- 9 Denmark 68,494 current US$ per person compare
- 10 Netherlands 65,418 current US$ per person compare
- 11 Australia 64,781 current US$ per person compare
More economy & growth data for Faroe Islands
- Imports of goods and services (current LCU), per capita 261,819 current LCU per person (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Imports of goods and services (current US$), per unit of GDP 0.512 current US$ per US$ of GDP (2024)
- Imports of goods and services (current US$), per capita 37,975 current US$ per person (2024)
- Imports of goods and services (current LCU), annual growth rate -6.2 % change on previous year (2024)
- Imports of goods and services (current LCU), per unit of GDP 3.53 current LCU per US$ of GDP (2024)
- Manufacturing, value added (current US$), per unit of GDP 0.0946 current US$ per US$ of GDP (2024)
- Agriculture, forestry, and fishing, value added (current LCU), per 1.11 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is gross national expenditure (current us$), per capita in Faroe Islands?
- Gross national expenditure (current us$), per capita in Faroe Islands was 71,683 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest gross national expenditure (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 71,723 current US$ per person in 2023.
- What is the lowest gross national expenditure (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 24,311 current US$ per person in 1998.
- How does Faroe Islands rank for gross national expenditure (current us$), per capita?
- Faroe Islands ranks 8th out of 186 countries with data for 2024.
- Is gross national expenditure (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 20.0%. 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 US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross national expenditure (current US$) 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 US$) ÷ Population, total
Computed from
- Gross national expenditure Country official statistics, National Statistical Organizations and/or Central Banks
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross national expenditure (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.