GDP at market prices (constant 2010 US$), annual growth rate in Faroe Islands
Faroe Islands: GDP at market prices (constant 2010 US$), annual growth rate was 2.49 % change on previous year in 2023. ◆ Volatile
GDP at market prices (constant 2010 US$), annual growth rate in Faroe Islands, 2009–2023
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2023, gdp at market prices (constant 2010 us$), annual growth rate in Faroe Islands stood at 2.49 % change on previous year.
Compared with earlier readings it is down 30.0% on the previous year and down 57.5% over ten years.
Over the whole period, gdp at market prices (constant 2010 us$), annual growth rate in Faroe Islands peaked at 7.08 % change on previous year in 2012 and was at its lowest, -4.55 % change on previous year, in 2009.
That places Faroe Islands 132nd out of 208 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP at market prices (constant 2010 US$), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 2009 | -4.55 % change on previous year | — |
| 2010 | -0.3801 % change on previous year | -91.7% |
| 2011 | 3.57 % change on previous year | -1038.2% |
| 2012 | 7.08 % change on previous year | +98.6% |
| 2013 | 5.86 % change on previous year | -17.3% |
| 2014 | 5.43 % change on previous year | -7.2% |
| 2015 | 0.9582 % change on previous year | -82.4% |
| 2016 | 1.39 % change on previous year | +44.7% |
| 2017 | 3.51 % change on previous year | +153.4% |
| 2018 | 2.76 % change on previous year | -21.3% |
| 2019 | 4.54 % change on previous year | +64.2% |
| 2020 | -1.64 % change on previous year | -136.1% |
| 2021 | 5.5 % change on previous year | -436.2% |
| 2022 | 3.56 % change on previous year | -35.4% |
| 2023 | 2.49 % change on previous year | -30.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 2.49 % change on previous year is above the median for high income countries, which is 2.19 % change on previous year, 1.1× the median. (80 countries reporting)
- Faroe Islands's 2.49 % change on previous year is above the median for Europe & Central Asia, which is 2.38 % change on previous year, 1.0× the median. (54 countries reporting)
Biggest year-on-year movements
Years where GDP at market prices (constant 2010 US$), annual growth rate in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2011 | +1038.2% | -0.3801 % change on previous year | 3.57 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -4.55 % change on previous year | -4.55 % change on previous year | -4.55 % change on previous year | 1 |
| 2010s | 3.47 % change on previous year | -0.3801 % change on previous year | 7.08 % change on previous year | 10 |
| 2020s | 2.48 % change on previous year | -1.64 % change on previous year | 5.5 % change on previous year | 4 |
Countries ranked near Faroe Islands
- 129 Solomon Islands 2.54 % change on previous year compare
- 130 Thailand 2.53 % change on previous year compare
- 131 Jordan 2.49 % change on previous year compare
- 133 Bosnia and Herzegovina 2.48 % change on previous year compare
- 134 Egypt 2.4 % change on previous year compare
- 135 Greece 2.27 % change on previous year compare
More population data for Faroe Islands
- Population regions with projections, annual growth rate -0.2397 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -1.07 % change on previous year (2050)
- Population long run with projections, annual growth rate -0.2397 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate 0.1096 % change on previous year (2100)
- Projected population under age 5, annual growth rate -0.4747 % change on previous year (2100)
- World population growth -0.2% (2100)
- Population density 46.18 people per km² (2100)
- Number of children under 5, by world region 2,935 people (2100)
- Population growth rate, by level of development -0.2% (2100)
- Number of people living in urban and rural areas, annual growth rate 1.68 % change on previous year (2025)
Frequently asked questions
- What is gdp at market prices (constant 2010 us$), annual growth rate in Faroe Islands?
- Gdp at market prices (constant 2010 us$), annual growth rate in Faroe Islands was 2.49 % change on previous year in 2023, according to Statizoid (derived).
- What is the highest gdp at market prices (constant 2010 us$), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 7.08 % change on previous year in 2012.
- What is the lowest gdp at market prices (constant 2010 us$), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -4.55 % change on previous year in 2009.
- How does Faroe Islands rank for gdp at market prices (constant 2010 us$), annual growth rate?
- Faroe Islands ranks 132nd out of 208 countries with data for 2023.
- Is gdp at market prices (constant 2010 us$), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 57.5%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of GDP at market prices (constant 2010 US$), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in GDP at market prices (constant 2010 US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- GDP at market prices UNESCO Institute for Statistics
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in GDP at market prices (constant 2010 US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.