GDP at market prices (constant 2010 US$), per capita in Faroe Islands
Faroe Islands: GDP at market prices (constant 2010 US$), per capita was 58,756 constant 2010 US$ per person in 2023. ▲ Rising
GDP at market prices (constant 2010 US$), per capita in Faroe Islands, 2008–2023
Source: Statizoid (derived). Measured in constant 2010 US$ per person.
Analysis
In 2023, gdp at market prices (constant 2010 us$), per capita in Faroe Islands stood at 58,756 constant 2010 US$ per person. That is the highest value across all 16 years on record.
That represents a change of up 1.6% on the previous year and up 17.2% over ten years.
Over the whole period, gdp at market prices (constant 2010 us$), per capita in Faroe Islands peaked at 58,756 constant 2010 US$ per person in 2023 and was at its lowest, 42,334 constant 2010 US$ per person, in 2010.
That places Faroe Islands 16th out of 208 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently rising across the 16 years of available data.
GDP at market prices (constant 2010 US$), per capita in Faroe Islands, year by year
| Year | constant 2010 US$ per person | Change |
|---|---|---|
| 2008 | 44,623 constant 2010 US$ per person | — |
| 2009 | 42,379 constant 2010 US$ per person | -5.0% |
| 2010 | 42,334 constant 2010 US$ per person | -0.1% |
| 2011 | 43,947 constant 2010 US$ per person | +3.8% |
| 2012 | 47,305 constant 2010 US$ per person | +7.6% |
| 2013 | 50,122 constant 2010 US$ per person | +6.0% |
| 2014 | 52,646 constant 2010 US$ per person | +5.0% |
| 2015 | 52,638 constant 2010 US$ per person | -0.0% |
| 2016 | 52,758 constant 2010 US$ per person | +0.2% |
| 2017 | 53,832 constant 2010 US$ per person | +2.0% |
| 2018 | 54,433 constant 2010 US$ per person | +1.1% |
| 2019 | 56,032 constant 2010 US$ per person | +2.9% |
| 2020 | 54,306 constant 2010 US$ per person | -3.1% |
| 2021 | 56,510 constant 2010 US$ per person | +4.1% |
| 2022 | 57,855 constant 2010 US$ per person | +2.4% |
| 2023 | 58,756 constant 2010 US$ per person | +1.6% |
Faroe Islands compared with similar countries
- Faroe Islands's 58,756 constant 2010 US$ per person is above the median for high income countries, which is 33,770 constant 2010 US$ per person, 1.7× the median. (80 countries reporting)
- Faroe Islands's 58,756 constant 2010 US$ per person is above the median for Europe & Central Asia, which is 20,221 constant 2010 US$ per person, 2.9× the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 43,501 constant 2010 US$ per person | 42,379 constant 2010 US$ per person | 44,623 constant 2010 US$ per person | 2 |
| 2010s | 50,605 constant 2010 US$ per person | 42,334 constant 2010 US$ per person | 56,032 constant 2010 US$ per person | 10 |
| 2020s | 56,857 constant 2010 US$ per person | 54,306 constant 2010 US$ per person | 58,756 constant 2010 US$ per person | 4 |
Countries ranked near Faroe Islands
- 13 Qatar 62,189 constant 2010 US$ per person compare
- 14 Australia 61,236 constant 2010 US$ per person compare
- 15 Iceland 60,669 constant 2010 US$ per person compare
- 17 Sweden 54,916 constant 2010 US$ per person compare
- 18 Netherlands 51,473 constant 2010 US$ per person compare
- 19 San Marino 51,277 constant 2010 US$ per person 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$), per capita in Faroe Islands?
- Gdp at market prices (constant 2010 us$), per capita in Faroe Islands was 58,756 constant 2010 US$ per person in 2023, according to Statizoid (derived).
- What is the highest gdp at market prices (constant 2010 us$), per capita recorded in Faroe Islands?
- The highest recorded value was 58,756 constant 2010 US$ per person in 2023.
- What is the lowest gdp at market prices (constant 2010 us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 42,334 constant 2010 US$ per person in 2010.
- How does Faroe Islands rank for gdp at market prices (constant 2010 us$), per capita?
- Faroe Islands ranks 16th out of 208 countries with data for 2023.
- Is gdp at market prices (constant 2010 us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 17.2%. The long-run trend across the full record is rising.
- 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$), per capita. Statizoid updates them automatically from the source API.
Download this data
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How this figure is calculated
GDP at market prices (constant 2010 US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
GDP at market prices (constant 2010 US$) ÷ Population, total
Computed from
- GDP at market prices UNESCO Institute for Statistics
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
GDP at market prices (constant 2010 US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.