Share of manufacturing in gross domestic product (GDP) in Faroe Islands
Faroe Islands: Share of manufacturing in gross domestic product (GDP) was 9.5% in 2024. ▬ Flat
Share of manufacturing in gross domestic product (GDP) in Faroe Islands, 1998–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
In 2024, share of manufacturing in gross domestic product (gdp) in Faroe Islands stood at 9.5%.
The figure is down 17.0% on the previous year and up 4.2% over ten years.
Over the whole period, share of manufacturing in gross domestic product (gdp) in Faroe Islands peaked at 11.4% in 2023 and was at its lowest, 7.7%, in 2013.
That places Faroe Islands 106th out of 202 countries with data for 2024, putting it in the middle of the range.
Share of manufacturing in gross domestic product (GDP) in Faroe Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1998 | 10.1% | — |
| 1999 | 10.8% | +7.3% |
| 2000 | 10.5% | -2.9% |
| 2001 | 11.3% | +6.9% |
| 2002 | 11.3% | +0.1% |
| 2003 | 10.5% | -6.4% |
| 2004 | 9.6% | -8.9% |
| 2005 | 9.2% | -4.7% |
| 2006 | 8.9% | -2.5% |
| 2007 | 8.9% | +0.1% |
| 2008 | 8.9% | -0.8% |
| 2009 | 8.6% | -2.9% |
| 2010 | 8.2% | -4.8% |
| 2011 | 8.0% | -2.7% |
| 2012 | 8.3% | +3.7% |
| 2013 | 7.7% | -6.9% |
| 2014 | 9.1% | +17.9% |
| 2015 | 9.3% | +2.6% |
| 2016 | 8.3% | -11.2% |
| 2017 | 9.2% | +11.6% |
| 2018 | 9.0% | -2.6% |
| 2019 | 10.4% | +15.8% |
| 2020 | 10.8% | +3.9% |
| 2021 | 10.7% | -1.2% |
| 2022 | 10.1% | -5.5% |
| 2023 | 11.4% | +13.0% |
| 2024 | 9.5% | -17.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 9.5% is below the median for high income countries, which is 9.5%, 100% of the median. (75 countries reporting)
- Faroe Islands's 9.5% is below the median for Europe & Central Asia, which is 12.0%, 79% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.5% | 10.1% | 10.8% | 2 |
| 2000s | 9.8% | 8.6% | 11.3% | 10 |
| 2010s | 8.7% | 7.7% | 10.4% | 10 |
| 2020s | 10.5% | 9.5% | 11.4% | 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 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 share of manufacturing in gross domestic product (gdp) in Faroe Islands?
- Share of manufacturing in gross domestic product (gdp) in Faroe Islands was 9.5% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest share of manufacturing in gross domestic product (gdp) recorded in Faroe Islands?
- The highest recorded value was 11.4% in 2023.
- What is the lowest share of manufacturing in gross domestic product (gdp) recorded in Faroe Islands?
- The lowest recorded value was 7.7% in 2013.
- How does Faroe Islands rank for share of manufacturing in gross domestic product (gdp)?
- Faroe Islands ranks 106th out of 202 countries with data for 2024.
- Is share of manufacturing in gross domestic product (gdp) rising or falling in Faroe Islands?
- Over the last ten years it is up 4.2%. The long-run trend across the full record is flat.
- Where does this Faroe Islands data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of Share of manufacturing in gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Manufacturing comprises units engaged in the physical, or chemical transformation of materials, substances, or components into new products.