Faroe Islands — GDP per capita
GDP per Capita (Nominal) for Faroe Islands, 1965–2024.
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%. Within Europe & Central Asia it ranks 11 of 57 economies; Netherlands (73,684) is just below it. Its sharpest one-year move was up 49% in 1986. That is 17% above this series' own ten-year average.
Data highlights
From its 1965 level: doubled by 1973; grown tenfold by 1987. Doubling roughly every 11 years at that pace.
World ranking. Climbed: 23rd of 121 in 1965 → 29th of 146 in 1970 → 21st of 163 in 1980 → 22nd of 192 in 1990 → 26th of 204 in 2000 → 19th of 212 in 2010 → 11th of 210 in 2020 → 13th of 200 in 2024.
Key figures
Full history — 1965 to 2024
| Year | current US$ | Change |
|---|---|---|
| 2024 | 74,175.28 | +2.3% |
| 2023 | 72,486.69 | +8.1% |
| 2022 | 67,069.4 | -3.4% |
| 2021 | 69,421.7 | +11.5% |
| 2020 | 62,247.93 | -1.3% |
| 2019 | 63,070.72 | +0.9% |
| 2018 | 62,525.26 | +5.3% |
| 2017 | 59,388.54 | +4.4% |
| 2016 | 56,876.43 | +8.1% |
| 2015 | 52,638.27 | -12.5% |
| 2014 | 60,173.31 | +7.9% |
| 2013 | 55,759.36 | +10.9% |
| 2012 | 50,263 | -2.6% |
| 2011 | 51,620.05 | +7.7% |
| 2010 | 47,924.14 | +1.8% |
| 2009 | 47,060.16 | -8.2% |
| 2008 | 51,287.89 | +6.1% |
| 2007 | 48,348.74 | +15.8% |
| 2006 | 41,743.68 | +14.7% |
| 2005 | 36,389.08 | +2.1% |
| 2004 | 35,647.54 | +14.0% |
| 2003 | 31,269.6 | +16.1% |
| 2002 | 26,937.65 | +8.3% |
| 2001 | 24,879.77 | +6.7% |
| 2000 | 23,322.76 | -6.6% |
| 1999 | 24,978.62 | +1.0% |
| 1998 | 24,729.02 | +16.9% |
| 1997 | 21,158.41 | -6.8% |
| 1996 | 22,705.7 | +9.9% |
| 1995 | 20,669.21 | +21.8% |
| 1994 | 16,975.93 | +3.7% |
| 1993 | 16,373.83 | -15.2% |
| 1992 | 19,300.66 | +0.7% |
| 1991 | 19,163.56 | -4.8% |
| 1990 | 20,125.37 | +10.7% |
| 1989 | 18,180.85 | -11.1% |
| 1988 | 20,453.1 | +7.7% |
| 1987 | 18,982.24 | +27.1% |
| 1986 | 14,933.54 | +48.6% |
| 1985 | 10,048.51 | +6.5% |
| 1984 | 9,437.29 | -13.4% |
| 1983 | 10,893.33 | +8.4% |
| 1982 | 10,052.92 | -3.9% |
| 1981 | 10,458.1 | -8.6% |
| 1980 | 11,446.28 | +8.5% |
| 1979 | 10,549.34 | +11.3% |
| 1978 | 9,479.44 | +13.0% |
| 1977 | 8,387.15 | +27.2% |
| 1976 | 6,593.62 | +17.6% |
| 1975 | 5,605.51 | +14.3% |
| 1974 | 4,906.28 | +20.6% |
| 1973 | 4,067.93 | +33.5% |
| 1972 | 3,046.46 | +18.8% |
| 1971 | 2,563.6 | +15.5% |
| 1970 | 2,219.38 | +20.0% |
| 1969 | 1,849.44 | +6.6% |
| 1968 | 1,735.53 | -2.5% |
| 1967 | 1,780.16 | +1.8% |
| 1966 | 1,749.16 | +9.7% |
| 1965 | 1,594.48 | — |
Frequently asked questions
What was Faroe Islands’s GDP per capita in 1966?
1,749.16 (1966). The full year-by-year table above lists every published year, most recent first.
Are Faroe Islands’s GDP per capita figures nominal or inflation-adjusted?
They are exactly as the World Bank publishes them — current US$ — with no inflation restatement and no PPP conversion. Years the source does not report are omitted rather than interpolated.
Is Faroe Islands’s GDP per capita growing or shrinking?
Between 1965 and 2024 the series was growing overall: +4552.0% in total — about 6.7% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.PCAP.CD. 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: 74,175.28; 2023: 72,486.69; 2022: 67,069.4; 2021: 69,421.7; 2020: 62,247.93. Earlier years are in the full-history table below.
Related data
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.