Services, value added (current US$), per capita in Faroe Islands
Faroe Islands: Services, value added (current US$), per capita was 39,926 current US$ per person in 2024. ▲ Rising
Services, value added (current US$), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
The most recent figure for services, value added (current us$), per capita in Faroe Islands is 39,926 current US$ per person, measured in 2024. That is the highest value across all 27 years on record.
Compared with earlier readings it is up 6.7% on the previous year and up 14.4% over ten years.
Over the whole period, services, value added (current us$), per capita in Faroe Islands peaked at 39,926 current US$ per person in 2024 and was at its lowest, 11,855 current US$ per person, in 2000.
Faroe Islands ranks 23rd of 204 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Services, value added (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 12,721 current US$ per person | — |
| 1999 | 13,026 current US$ per person | +2.4% |
| 2000 | 11,855 current US$ per person | -9.0% |
| 2001 | 12,630 current US$ per person | +6.5% |
| 2002 | 13,996 current US$ per person | +10.8% |
| 2003 | 17,260 current US$ per person | +23.3% |
| 2004 | 20,160 current US$ per person | +16.8% |
| 2005 | 20,952 current US$ per person | +3.9% |
| 2006 | 23,077 current US$ per person | +10.1% |
| 2007 | 27,059 current US$ per person | +17.3% |
| 2008 | 30,301 current US$ per person | +12.0% |
| 2009 | 28,754 current US$ per person | -5.1% |
| 2010 | 27,894 current US$ per person | -3.0% |
| 2011 | 30,442 current US$ per person | +9.1% |
| 2012 | 30,858 current US$ per person | +1.4% |
| 2013 | 33,588 current US$ per person | +8.8% |
| 2014 | 34,906 current US$ per person | +3.9% |
| 2015 | 29,961 current US$ per person | -14.2% |
| 2016 | 30,843 current US$ per person | +2.9% |
| 2017 | 31,961 current US$ per person | +3.6% |
| 2018 | 34,128 current US$ per person | +6.8% |
| 2019 | 33,316 current US$ per person | -2.4% |
| 2020 | 33,287 current US$ per person | -0.1% |
| 2021 | 37,425 current US$ per person | +12.4% |
| 2022 | 34,670 current US$ per person | -7.4% |
| 2023 | 37,431 current US$ per person | +8.0% |
| 2024 | 39,926 current US$ per person | +6.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 39,926 current US$ per person is above the median for high income countries, which is 26,620 current US$ per person, 1.5× the median. (77 countries reporting)
- Faroe Islands's 39,926 current US$ per person is above the median for Europe & Central Asia, which is 21,354 current US$ per person, 1.9× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12,874 current US$ per person | 12,721 current US$ per person | 13,026 current US$ per person | 2 |
| 2000s | 20,604 current US$ per person | 11,855 current US$ per person | 30,301 current US$ per person | 10 |
| 2010s | 31,790 current US$ per person | 27,894 current US$ per person | 34,906 current US$ per person | 10 |
| 2020s | 36,548 current US$ per person | 33,287 current US$ per person | 39,926 current US$ per person | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ 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)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is services, value added (current us$), per capita in Faroe Islands?
- Services, value added (current us$), per capita in Faroe Islands was 39,926 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest services, value added (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 39,926 current US$ per person in 2024.
- What is the lowest services, value added (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 11,855 current US$ per person in 2000.
- How does Faroe Islands rank for services, value added (current us$), per capita?
- Faroe Islands ranks 23rd out of 204 countries with data for 2024.
- Is services, value added (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 14.4%. 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 Services, value added (current US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Services, value added (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Services, value added (current US$) ÷ Population, total
Computed from
- Services, value added Country official statistics, National Statistical Offices (NSOs)
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Services, value added (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.