GDP (constant LCU) (UNESCO Institute) in Faroe Islands
Faroe Islands: GDP (constant LCU) (UNESCO Institute) was 20.35 billion constant LCU in 2023. ▲ Rising
GDP in Faroe Islands, 2008–2023
Source: UNESCO Institute for Statistics. Measured in constant LCU.
Analysis
The most recent figure for gdp in Faroe Islands is 20.35 billion constant LCU, measured in 2023. 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 in Faroe Islands peaked at 20.35 billion constant LCU in 2023 and was at its lowest, 13.11 billion constant LCU, in 2010.
That places Faroe Islands 163rd out of 212 countries with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 16 years of available data.
GDP (constant LCU) (UNESCO Institute) in Faroe Islands, year by year
| Year | constant LCU | Change |
|---|---|---|
| 2008 | 13.79 billion constant LCU | — |
| 2009 | 13.16 billion constant LCU | -4.6% |
| 2010 | 13.11 billion constant LCU | -0.4% |
| 2011 | 13.58 billion constant LCU | +3.6% |
| 2012 | 14.54 billion constant LCU | +7.1% |
| 2013 | 15.40 billion constant LCU | +5.9% |
| 2014 | 16.23 billion constant LCU | +5.4% |
| 2015 | 16.39 billion constant LCU | +1.0% |
| 2016 | 16.61 billion constant LCU | +1.4% |
| 2017 | 17.20 billion constant LCU | +3.5% |
| 2018 | 17.67 billion constant LCU | +2.8% |
| 2019 | 18.48 billion constant LCU | +4.5% |
| 2020 | 18.17 billion constant LCU | -1.6% |
| 2021 | 19.17 billion constant LCU | +5.5% |
| 2022 | 19.85 billion constant LCU | +3.6% |
| 2023 | 20.35 billion constant LCU | +2.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 20.35 billion constant LCU is below the median for high income countries, which is 153.41 billion constant LCU, 13% of the median. (83 countries reporting)
- Faroe Islands's 20.35 billion constant LCU is below the median for Europe & Central Asia, which is 410.71 billion constant LCU, 5% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 13.48 billion constant LCU | 13.16 billion constant LCU | 13.79 billion constant LCU | 2 |
| 2010s | 15.92 billion constant LCU | 13.11 billion constant LCU | 18.48 billion constant LCU | 10 |
| 2020s | 19.39 billion constant LCU | 18.17 billion constant LCU | 20.35 billion constant LCU | 4 |
Countries ranked near Faroe Islands
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 in Faroe Islands?
- Gdp in Faroe Islands was 20.35 billion constant LCU in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp recorded in Faroe Islands?
- The highest recorded value was 20.35 billion constant LCU in 2023.
- What is the lowest gdp recorded in Faroe Islands?
- The lowest recorded value was 13.11 billion constant LCU in 2010.
- How does Faroe Islands rank for gdp?
- Faroe Islands ranks 163rd out of 212 countries with data for 2023.
- Is gdp 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 (constant LCU). 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