Home / GDP per capita / Faroe Islands
Faroe Islands — GDP per capita
GDP per Capita (Nominal) for Faroe Islands, 1965–2024.
Latest value · 2024
74,175
GDP per Capita (Nominal) · current US$ · +4552.0% since 1965
GDP per capita for Faroe Islands was 74,175 in 2024, according to the latest World Bank data. The series covers 60 years, from 1965 to 2024. The latest year is also the highest value on record for this series. The lowest was 1,594 in 1965 (about 46.5× the low point). Across that span the compound annual growth rate works out to 6.72% per year.
Faroe Islands ranks 16 of 212 economies on this measure (1 = highest), putting it in the top 8%. The median for Europe & Central Asia is 32,959, so Faroe Islands sits above it. Over the last decade (2014–2024) the figure moved up 23%.
Key figures
Latest (2024)
74,175
First (1965)
1,594
Change
+4552.0%
Highest
74,175
in 2024
Lowest
1,594
in 1965
Average
27,995
Annual growth (CAGR)
6.72%
Years of data
60
Recent years
| Year | current US$ |
|---|---|
| 2024 | 74,175.28 |
| 2023 | 72,486.69 |
| 2022 | 67,069.4 |
| 2021 | 69,421.7 |
| 2020 | 62,247.93 |
| 2019 | 63,070.72 |
| 2018 | 62,525.26 |
| 2017 | 59,388.54 |
| 2016 | 56,876.43 |
| 2015 | 52,638.27 |
| 2014 | 60,173.31 |
| 2013 | 55,759.36 |
Reading this correctly. Nominal GDP divided by midyear population. A rough proxy for average income; it does not account for income distribution. Figures are in current US$. Comparing this series with a different measure of the same concept (for example a nominal figure against a purchasing-power-parity figure) will give misleading results.
Related data
Source. World Bank Open Data, indicator
NY.GDP.PCAP.CD — GDP per Capita (Nominal). 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.