Faroe Islands — GDP growth
GDP Growth (Annual %) for Faroe Islands, 2009–2024.
GDP growth for Faroe Islands was 0.84% in 2024, according to the latest World Bank data. The series covers 16 years, from 2009 to 2024. The highest recorded value was 7.08% in 2012. The lowest was -4.55% in 2009 (about -5.4× the latest value).
Faroe Islands ranks 178 of 212 economies on this measure (1 = highest), putting it in the top 84%. The median for Europe & Central Asia is 2.03%, so Faroe Islands sits below it. It peaked in 2012 and has fallen 88% since. Over the last decade (2014–2024) the figure moved down 84%. Within Europe & Central Asia it ranks 44 of 57 economies; France (0.84%) is just below it. Its sharpest one-year move was up 1039% in 2011. That is 69% below this series' own ten-year average.
Data highlights
World ranking. Slipped: 163rd of 208 in 2009 → 184th of 209 in 2010 → 60th of 209 in 2020 → 170th of 200 in 2024.
Key figures
Full history — 2009 to 2024
| Year | annual % | Change |
|---|---|---|
| 2024 | 0.84% | -2.3 pp |
| 2023 | 3.16% | -0.7 pp |
| 2022 | 3.86% | -1.2 pp |
| 2021 | 5.07% | +6.7 pp |
| 2020 | -1.64% | -6.2 pp |
| 2019 | 4.54% | +1.8 pp |
| 2018 | 2.76% | -0.7 pp |
| 2017 | 3.51% | +2.1 pp |
| 2016 | 1.39% | +0.4 pp |
| 2015 | 0.96% | -4.5 pp |
| 2014 | 5.43% | -0.4 pp |
| 2013 | 5.86% | -1.2 pp |
| 2012 | 7.08% | +3.5 pp |
| 2011 | 3.57% | +3.9 pp |
| 2010 | -0.38% | +4.2 pp |
| 2009 | -4.55% | — |
Frequently asked questions
What was Faroe Islands’s GDP growth in 2010?
-0.38% (2010). The full year-by-year table above lists every published year, most recent first.
Are changes in this series measured in percentage points?
Yes. The series is a share expressed in annual %, so year-over-year movements in the Change column are percentage points (pp), not percent.
Is Faroe Islands’s GDP growth growing or shrinking?
Between 2009 and 2024 the series was growing overall: +118.5% in total.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.MKTP.KD.ZG. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2024: 0.84%; 2023: 3.16%; 2022: 3.86%; 2021: 5.07%; 2020: -1.64%. Earlier years are in the full-history table below.
Related data
NY.GDP.MKTP.KD.ZG — GDP Growth (Annual %). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.