GDP at market prices (constant 2010 US$) in Faroe Islands
Faroe Islands: GDP at market prices (constant 2010 US$) was 3.20 billion constant 2010 US$ in 2023. ▲ Rising
Latest (2023)
3.20 billion constant 2010 US$
Change on year
up 2.5%
World rank
173rd
of 208 countries
All-time high
3.20 billion constant 2010 US$
in 2023
All-time low
2.06 billion constant 2010 US$
in 2010
Years of data
16
2008–2023
GDP at market prices in Faroe Islands, 2008–2023
Source: UNESCO Institute for Statistics. Measured in constant 2010 US$.
Analysis
In 2023, gdp at market prices in Faroe Islands stood at 3.20 billion constant 2010 US$. That is the highest value across all 16 years on record.
The figure is up 2.5% on the previous year and up 32.2% over ten years.
Over the whole period, gdp at market prices in Faroe Islands peaked at 3.20 billion constant 2010 US$ in 2023 and was at its lowest, 2.06 billion constant 2010 US$, in 2010.
Faroe Islands ranks 173rd of 208 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 16 years of available data.
GDP at market prices (constant 2010 US$) in Faroe Islands, year by year
| Year | constant 2010 US$ | Change |
|---|---|---|
| 2008 | 2.17 billion constant 2010 US$ | — |
| 2009 | 2.07 billion constant 2010 US$ | -4.6% |
| 2010 | 2.06 billion constant 2010 US$ | -0.4% |
| 2011 | 2.13 billion constant 2010 US$ | +3.6% |
| 2012 | 2.28 billion constant 2010 US$ | +7.1% |
| 2013 | 2.42 billion constant 2010 US$ | +5.9% |
| 2014 | 2.55 billion constant 2010 US$ | +5.4% |
| 2015 | 2.57 billion constant 2010 US$ | +1.0% |
| 2016 | 2.61 billion constant 2010 US$ | +1.4% |
| 2017 | 2.70 billion constant 2010 US$ | +3.5% |
| 2018 | 2.78 billion constant 2010 US$ | +2.8% |
| 2019 | 2.90 billion constant 2010 US$ | +4.5% |
| 2020 | 2.85 billion constant 2010 US$ | -1.6% |
| 2021 | 3.01 billion constant 2010 US$ | +5.5% |
| 2022 | 3.12 billion constant 2010 US$ | +3.6% |
| 2023 | 3.20 billion constant 2010 US$ | +2.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 3.20 billion constant 2010 US$ is below the median for high income countries, which is 73.34 billion constant 2010 US$, 4% of the median. (80 countries reporting)
- Faroe Islands's 3.20 billion constant 2010 US$ is below the median for Europe & Central Asia, which is 69.56 billion constant 2010 US$, 5% of the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.12 billion constant 2010 US$ | 2.07 billion constant 2010 US$ | 2.17 billion constant 2010 US$ | 2 |
| 2010s | 2.50 billion constant 2010 US$ | 2.06 billion constant 2010 US$ | 2.90 billion constant 2010 US$ | 10 |
| 2020s | 3.05 billion constant 2010 US$ | 2.85 billion constant 2010 US$ | 3.20 billion constant 2010 US$ | 4 |
Countries ranked near Faroe Islands
- 170 Burundi 3.59 billion constant 2010 US$ compare
- 171 Andorra 3.36 billion constant 2010 US$ compare
- 172 Aruba 3.35 billion constant 2010 US$ compare
- 174 Greenland 2.84 billion constant 2010 US$ compare
- 175 Belize 2.76 billion constant 2010 US$ compare
- 176 Bhutan 2.74 billion constant 2010 US$ 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)
- Population growth rate -0.247 (2100)
- Population density 46.18 (2100)
- Projected population under age 5 2,935 (2100)
- Population growth rate by level of development -0.247 (2100)
- Urbanization vs gdp, annual growth rate 0.5838 % change on previous year (2025)
Frequently asked questions
- What is gdp at market prices in Faroe Islands?
- Gdp at market prices in Faroe Islands was 3.20 billion constant 2010 US$ in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp at market prices recorded in Faroe Islands?
- The highest recorded value was 3.20 billion constant 2010 US$ in 2023.
- What is the lowest gdp at market prices recorded in Faroe Islands?
- The lowest recorded value was 2.06 billion constant 2010 US$ in 2010.
- How does Faroe Islands rank for gdp at market prices?
- Faroe Islands ranks 173rd out of 208 countries with data for 2023.
- Is gdp at market prices rising or falling in Faroe Islands?
- Over the last ten years it is up 32.2%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from UNESCO Institute for Statistics, published as part of GDP at market prices (constant 2010 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 16 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release