Gross value added at basic prices (GVA) (current US$), per square in Faroe Islands
Faroe Islands: Gross value added at basic prices (GVA) (current US$), per square was 2.57 million current US$ per square kilometre in 2023. ▲ Rising
Gross value added at basic prices (GVA) (current US$), per square in Faroe Islands, 1998–2023
Source: Statizoid (derived). Measured in current US$ per square kilometre.
Analysis
Faroe Islands recorded 2.57 million current US$ per square kilometre for gross value added at basic prices (gva) (current us$), per square in 2023. That is the highest value across all 26 years on record.
That represents a change of up 10.4% on the previous year and up 50.0% over ten years.
Over the whole period, gross value added at basic prices (gva) (current us$), per square in Faroe Islands peaked at 2.57 million current US$ per square kilometre in 2023 and was at its lowest, 662,385 current US$ per square kilometre, in 2000.
Faroe Islands ranks 50th of 204 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 26 years of available data.
Gross value added at basic prices (GVA) (current US$), per square in Faroe Islands, year by year
| Year | current US$ per square kilometre | Change |
|---|---|---|
| 1998 | 684,794 current US$ per square kilometre | — |
| 1999 | 698,790 current US$ per square kilometre | +2.0% |
| 2000 | 662,385 current US$ per square kilometre | -5.2% |
| 2001 | 726,103 current US$ per square kilometre | +9.6% |
| 2002 | 792,529 current US$ per square kilometre | +9.1% |
| 2003 | 925,494 current US$ per square kilometre | +16.8% |
| 2004 | 1.07 million current US$ per square kilometre | +15.5% |
| 2005 | 1.09 million current US$ per square kilometre | +1.8% |
| 2006 | 1.24 million current US$ per square kilometre | +14.2% |
| 2007 | 1.43 million current US$ per square kilometre | +14.9% |
| 2008 | 1.53 million current US$ per square kilometre | +7.3% |
| 2009 | 1.43 million current US$ per square kilometre | -6.6% |
| 2010 | 1.46 million current US$ per square kilometre | +1.8% |
| 2011 | 1.57 million current US$ per square kilometre | +8.0% |
| 2012 | 1.53 million current US$ per square kilometre | -3.0% |
| 2013 | 1.71 million current US$ per square kilometre | +12.2% |
| 2014 | 1.85 million current US$ per square kilometre | +8.1% |
| 2015 | 1.64 million current US$ per square kilometre | -11.3% |
| 2016 | 1.80 million current US$ per square kilometre | +9.5% |
| 2017 | 1.90 million current US$ per square kilometre | +5.8% |
| 2018 | 2.03 million current US$ per square kilometre | +6.6% |
| 2019 | 2.08 million current US$ per square kilometre | +2.7% |
| 2020 | 2.11 million current US$ per square kilometre | +1.4% |
| 2021 | 2.36 million current US$ per square kilometre | +11.9% |
| 2022 | 2.33 million current US$ per square kilometre | -1.6% |
| 2023 | 2.57 million current US$ per square kilometre | +10.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 691,792 current US$ per square kilometre | 684,794 current US$ per square kilometre | 698,790 current US$ per square kilometre | 2 |
| 2000s | 1.09 million current US$ per square kilometre | 662,385 current US$ per square kilometre | 1.53 million current US$ per square kilometre | 10 |
| 2010s | 1.76 million current US$ per square kilometre | 1.46 million current US$ per square kilometre | 2.08 million current US$ per square kilometre | 10 |
| 2020s | 2.34 million current US$ per square kilometre | 2.11 million current US$ per square kilometre | 2.57 million current US$ per square kilometre | 4 |
Countries ranked near Faroe Islands
- 47 Spain 2.96 million current US$ per square kilometre compare
- 48 Brunei Darussalam 2.91 million current US$ per square kilometre compare
- 49 Portugal 2.78 million current US$ per square kilometre compare
- 51 Slovakia 2.54 million current US$ per square kilometre compare
- 52 Palestine, State of 2.49 million current US$ per square kilometre compare
- 53 United States 2.46 million current US$ per square kilometre 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$), per capita 65,417 current US$ per person (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)
Frequently asked questions
- What is gross value added at basic prices (gva) (current us$), per square in Faroe Islands?
- Gross value added at basic prices (gva) (current us$), per square in Faroe Islands was 2.57 million current US$ per square kilometre in 2023, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (current us$), per square recorded in Faroe Islands?
- The highest recorded value was 2.57 million current US$ per square kilometre in 2023.
- What is the lowest gross value added at basic prices (gva) (current us$), per square recorded in Faroe Islands?
- The lowest recorded value was 662,385 current US$ per square kilometre in 2000.
- How does Faroe Islands rank for gross value added at basic prices (gva) (current us$), per square?
- Faroe Islands ranks 50th out of 204 countries with data for 2023.
- Is gross value added at basic prices (gva) (current us$), per square rising or falling in Faroe Islands?
- Over the last ten years it is up 50.0%. 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 value added at basic prices (GVA) (current US$), per square kilometre. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross value added at basic prices (GVA) (current US$) divided by Land area (sq. km), 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$) ÷ Land area (sq. km)
Computed from
- Gross value added at basic prices (GVA) Country official statistics, National Statistical Offices (NSOs)
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross value added at basic prices (GVA) (current US$) 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.