Faroe Islands — GDP (PPP)
GDP (PPP) for Faroe Islands, 2008–2024.
GDP (PPP) for Faroe Islands was 4.49 billion in 2024, according to the latest World Bank data. The series covers 17 years, from 2008 to 2024. The latest year is also the highest value on record for this series. The lowest was 1.92 billion in 2009 (about 2.3× the low point). Across that span the compound annual growth rate works out to 5.18% per year.
Faroe Islands ranks 180 of 201 economies on this measure (1 = highest), putting it in the top 90%. The median for Europe & Central Asia is 285.97 billion, so Faroe Islands sits below it. Over the last decade (2014–2024) the figure moved up 74%. Within Europe & Central Asia it ranks 52 of 53 economies; San Marino (2.67 billion) is just below it. Its sharpest one-year move was up 13% in 2021. That is 34% above this series' own ten-year average.
Data highlights
From its 2008 level: doubled by 2022. Doubling roughly every 14 years at that pace.
World ranking. Climbed: 179th of 199 in 2008 → 181st of 200 in 2010 → 175th of 198 in 2020 → 175th of 195 in 2024.
Key figures
Full history — 2008 to 2024
| Year | current international $ | Change |
|---|---|---|
| 2024 | 4,485,358,437.19 | +3.3% |
| 2023 | 4,340,094,171.34 | +7.0% |
| 2022 | 4,057,079,113.89 | +11.2% |
| 2021 | 3,646,874,430.18 | +12.5% |
| 2020 | 3,240,676,994.68 | +0.6% |
| 2019 | 3,222,676,562.52 | +7.2% |
| 2018 | 3,005,353,972.72 | +6.2% |
| 2017 | 2,830,966,519.25 | +5.4% |
| 2016 | 2,686,800,585.69 | +2.3% |
| 2015 | 2,625,111,870.08 | +1.9% |
| 2014 | 2,576,292,786.08 | +7.3% |
| 2013 | 2,401,726,484.05 | +7.7% |
| 2012 | 2,230,891,736.8 | +9.1% |
| 2011 | 2,045,272,663.02 | +5.7% |
| 2010 | 1,934,923,023.29 | +0.8% |
| 2009 | 1,918,979,131.24 | -4.0% |
| 2008 | 1,998,199,787.79 | — |
Frequently asked questions
What was Faroe Islands’s GDP (PPP) in 2009?
1,918,979,131.24 (2009). The full year-by-year table above lists every published year, most recent first.
Are Faroe Islands’s GDP (PPP) figures nominal or inflation-adjusted?
They are exactly as the World Bank publishes them — current international $ — with no inflation restatement and no PPP conversion. Years the source does not report are omitted rather than interpolated.
Is Faroe Islands’s GDP (PPP) growing or shrinking?
Between 2008 and 2024 the series was growing overall: +124.5% in total — about 5.2% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.MKTP.PP.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: 4,485,358,437.19; 2023: 4,340,094,171.34; 2022: 4,057,079,113.89; 2021: 3,646,874,430.18; 2020: 3,240,676,994.68. Earlier years are in the full-history table below.
Related data
NY.GDP.MKTP.PP.CD — GDP (PPP). 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.