Faroe Islands 2016
Detailed economic analysis and indicators for 2016
Key Economic Indicators (2016)
GDP (Current USD)
$2.81 billion
↑ 9.30% vs 2015GDP per Capita
$56,875.28
↑ 8.06% vs 2015GDP Growth (Annual %)
1.39%
↑ 0.43pp vs 2015Inflation Rate (CPI %)
N/A
Year-over-Year Comparison
| Indicator | 2015 | 2016 | Change |
|---|---|---|---|
| GDP (Current USD) | $2.57 billion | $2.81 billion | +9.30% |
| GDP per Capita | $52,635.04 | $56,875.28 | +8.06% |
| GDP Growth (Annual %) | 0.96% | 1.39% | +0.43pp |
| Inflation (CPI %) | N/A | N/A | N/A |
All Economic Indicators (2016)
National Accounts
- GDP (Current USD)
- $2.81 billion
- GDP per Capita
- $56,875.28
- GDP Growth (Annual %)
- 1.39%
- Gross National Income
- $2.92 billion
Prices & Employment
- Inflation (CPI %)
- N/A
- Inflation (GDP Deflator %)
- 7.87%
- Unemployment Rate (%)
- N/A
- Interest Rate (Real %)
- N/A
Trade & Investment
- Exports (Goods & Services)
- N/A
- Imports (Goods & Services)
- N/A
- FDI Inflow
- N/A
- FDI Outflow
- N/A
Balance & Debt
- Current Account Balance (% GDP)
- N/A
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2016, Faroe Islands's Gross Domestic Product (GDP) is $2.81 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Faroe Islands for 2016 is $56,875.28. GDP per capita is calculated by dividing the country's GDP by its population.
Faroe Islands's annual GDP growth rate for 2016 is 1.39%. This indicates the rate at which the country's economy is expanding or contracting.