Gross value added at basic prices (GVA) (current US$), per capita in Faroe Islands
Faroe Islands: Gross value added at basic prices (GVA) (current US$), per capita was 65,417 current US$ per person in 2024. ▲ Rising
Gross value added at basic prices (GVA) (current US$), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
Faroe Islands recorded 65,417 current US$ per person for gross value added at basic prices (gva) (current us$), per capita in 2024. That is the highest value across all 27 years on record.
The figure is up 1.1% on the previous year and up 22.6% over ten years.
Over the whole period, gross value added at basic prices (gva) (current us$), per capita in Faroe Islands peaked at 65,417 current US$ per person in 2024 and was at its lowest, 20,210 current US$ per person, in 2000.
Faroe Islands ranks 17th of 205 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 27 years of available data.
Gross value added at basic prices (GVA) (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 21,399 current US$ per person | — |
| 1999 | 21,608 current US$ per person | +1.0% |
| 2000 | 20,210 current US$ per person | -6.5% |
| 2001 | 21,736 current US$ per person | +7.5% |
| 2002 | 23,373 current US$ per person | +7.5% |
| 2003 | 26,898 current US$ per person | +15.1% |
| 2004 | 30,854 current US$ per person | +14.7% |
| 2005 | 31,426 current US$ per person | +1.9% |
| 2006 | 35,901 current US$ per person | +14.2% |
| 2007 | 41,203 current US$ per person | +14.8% |
| 2008 | 44,067 current US$ per person | +6.9% |
| 2009 | 40,974 current US$ per person | -7.0% |
| 2010 | 41,815 current US$ per person | +2.1% |
| 2011 | 45,272 current US$ per person | +8.3% |
| 2012 | 44,135 current US$ per person | -2.5% |
| 2013 | 49,543 current US$ per person | +12.3% |
| 2014 | 53,356 current US$ per person | +7.7% |
| 2015 | 46,884 current US$ per person | -12.1% |
| 2016 | 50,756 current US$ per person | +8.3% |
| 2017 | 52,917 current US$ per person | +4.3% |
| 2018 | 55,517 current US$ per person | +4.9% |
| 2019 | 56,125 current US$ per person | +1.1% |
| 2020 | 54,892 current US$ per person | -2.2% |
| 2021 | 60,754 current US$ per person | +10.7% |
| 2022 | 59,129 current US$ per person | -2.7% |
| 2023 | 64,674 current US$ per person | +9.4% |
| 2024 | 65,417 current US$ per person | +1.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 21,503 current US$ per person | 21,399 current US$ per person | 21,608 current US$ per person | 2 |
| 2000s | 31,664 current US$ per person | 20,210 current US$ per person | 44,067 current US$ per person | 10 |
| 2010s | 49,632 current US$ per person | 41,815 current US$ per person | 56,125 current US$ per person | 10 |
| 2020s | 60,973 current US$ per person | 54,892 current US$ per person | 65,417 current US$ per person | 5 |
Countries ranked near Faroe Islands
- 14 Denmark 68,250 current US$ per person compare
- 15 United States 67,708 current US$ per person compare
- 16 Netherlands 66,148 current US$ per person compare
- 18 Australia 60,991 current US$ per person compare
- 19 Sweden 56,545 current US$ per person compare
- 20 Austria 56,190 current US$ per person compare
More economy & growth data for Faroe Islands
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 6.08 current LCU per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current LCU), annual growth 1.67 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8819 current US$ per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- GDP growth 0.8% (2024)
- Discrepancy in expenditure estimate of GDP 100,000 current LCU (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
Frequently asked questions
- What is gross value added at basic prices (gva) (current us$), per capita in Faroe Islands?
- Gross value added at basic prices (gva) (current us$), per capita in Faroe Islands was 65,417 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 65,417 current US$ per person in 2024.
- What is the lowest gross value added at basic prices (gva) (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 20,210 current US$ per person in 2000.
- How does Faroe Islands rank for gross value added at basic prices (gva) (current us$), per capita?
- Faroe Islands ranks 17th out of 205 countries with data for 2024.
- Is gross value added at basic prices (gva) (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 22.6%. 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 value added at basic prices (GVA) (current US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross value added at basic prices (GVA) (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross value added at basic prices (GVA) (current US$) ÷ Population, total
Computed from
- Gross value added at basic prices (GVA) Country official statistics, National Statistical Offices (NSOs)
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross value added at basic prices (GVA) (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.