Faroe Islands 2024
Detailed economic analysis and indicators for 2024
Key Economic Indicators (2024)
GDP (Current USD)
$4.00 billion
↑ 2.48% vs 2023GDP per Capita
$73,494.89
↑ 2.48% vs 2023GDP Growth (Annual %)
2.48%
↓ 0.01pp vs 2023Inflation Rate (CPI %)
N/A
Year-over-Year Comparison
| Indicator | 2023 | 2024 | Change |
|---|---|---|---|
| GDP (Current USD) | $3.91 billion | $4.00 billion | +2.48% |
| GDP per Capita | $71,717.70 | $73,494.89 | +2.48% |
| GDP Growth (Annual %) | 2.49% | 2.48% | -0.01pp |
| Inflation (CPI %) | N/A | N/A | N/A |
All Economic Indicators (2024)
National Accounts
- GDP (Current USD)
- $4.00 billion
- GDP per Capita
- $73,494.89
- GDP Growth (Annual %)
- 2.48%
- Gross National Income
- N/A
Prices & Employment
- Inflation (CPI %)
- N/A
- Inflation (GDP Deflator %)
- N/A
- 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 2024, Faroe Islands's Gross Domestic Product (GDP) is $4.00 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Faroe Islands for 2024 is $73,494.89. GDP per capita is calculated by dividing the country's GDP by its population.
Faroe Islands's annual GDP growth rate for 2024 is 2.48%. This indicates the rate at which the country's economy is expanding or contracting.