fo Faroe Islands

Comprehensive economic analysis featuring GDP, inflation, unemployment, and other key economic indicators from 2010 to 2025.

16 Years of Data

13 Economic Indicators

Key Economic Indicators

GDP (Current USD)

$4.12 billion

2025
Est. ↑ 2.9%
GDP per Capita

$75,656.06

2025
Est. ↑ 2.9%
GDP Growth (Annual %)

2.94%

2025
↑ 18.67% from previous year
Inflation Rate (CPI %)

2.50%

2025
Estimated
Unemployment Rate
5.00% (2025) Est.
Exports
N/A
Imports
N/A
FDI Inflow
N/A

Historical Economic Trends (2010-2025)

GDP Trend
GDP Growth Rate
Inflation Rate (CPI)
Unemployment Rate

Economic Analysis

GDP Overview

Faroe Islands has faced economic challenges in recent years, with GDP showing a declining trend. As of 2025, the GDP is $4.12 billion. Various factors including global economic conditions and domestic policy changes may have contributed to this pattern.

Inflation Trends

Inflation in Faroe Islands has remained within a moderate range, averaging 2.50%, which is generally considered healthy for economic growth. The current rate stands at 2.50%.

Historical Economic Data

Economic indicators for Faroe Islands
Year GDP (USD) GDP per Capita GDP Growth (%) Inflation (CPI %) Unemployment (%)
2025 $4.12 billion $75,656.06 2.94% 2.50% 5.00%
2024 $4.00 billion $73,494.89 2.48% N/A N/A
2023 $3.91 billion $71,717.70 2.49% N/A N/A
2022 $3.57 billion $66,108.73 3.56% N/A N/A
2021 $3.66 billion $68,736.51 5.50% N/A N/A
2020 $3.27 billion $62,236.09 -1.64% N/A N/A
2019 $3.27 billion $63,064.63 4.54% N/A N/A
2018 $3.19 billion $62,524.04 2.76% N/A N/A
2017 $2.98 billion $59,384.99 3.51% N/A N/A
2016 $2.81 billion $56,875.28 1.39% N/A N/A
2015 $2.57 billion $52,635.04 0.96% N/A N/A
2014 $2.91 billion $60,172.06 5.43% N/A N/A
2013 $2.69 billion $55,758.21 5.86% N/A N/A
2012 $2.43 billion $50,261.96 7.08% N/A N/A
2011 $2.51 billion $51,618.99 3.57% N/A N/A
2010 $2.33 billion $47,923.15 -0.38% N/A N/A

Detailed Data by Year

2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010

Frequently Asked Questions

As of 2025, Faroe Islands's Gross Domestic Product (GDP) is $4.12 billion. This represents the total value of goods and services produced in the country.

The GDP per capita in Faroe Islands for 2025 is $75,656.06. GDP per capita is calculated by dividing the country's GDP by its population.

The Consumer Price Index (CPI) inflation rate in Faroe Islands for 2025 is 2.50%. This measures the annual percentage change in the cost of consumer goods and services.

Faroe Islands's annual GDP growth rate for 2025 is 2.94%. This indicates the rate at which the country's economy is expanding or contracting.

The unemployment rate in Faroe Islands for 2025 is 5.00%. This represents the percentage of the labor force that is unemployed and actively seeking employment.