GDP (current LCU) (UNESCO Institute) in Faroe Islands
Faroe Islands: GDP (current LCU) (UNESCO Institute) was 26.92 billion current LCU in 2023. ◆ Volatile
Latest (2023)
26.92 billion current LCU
Change on year
up 6.7%
World rank
168th
of 211 countries
All-time high
26.92 billion current LCU
in 2023
All-time low
637.00 million current LCU
in 1970
Years of data
54
1970–2023
GDP in Faroe Islands, 1970–2023
Source: UNESCO Institute for Statistics. Measured in current LCU.
Analysis
Faroe Islands recorded 26.92 billion current LCU for gdp in 2023. That is the highest value across all 54 years on record.
The figure is up 6.7% on the previous year and up 78.2% over ten years.
Over the whole period, gdp in Faroe Islands peaked at 26.92 billion current LCU in 2023 and was at its lowest, 637.00 million current LCU, in 1970.
Faroe Islands ranks 168th of 211 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP (current LCU) (UNESCO Institute) in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 1970 | 637.00 million current LCU | — |
| 1971 | 735.90 million current LCU | +15.5% |
| 1972 | 829.30 million current LCU | +12.7% |
| 1973 | 975.40 million current LCU | +17.6% |
| 1974 | 1.20 billion current LCU | +23.0% |
| 1975 | 1.31 billion current LCU | +9.0% |
| 1976 | 1.64 billion current LCU | +25.1% |
| 1977 | 2.09 billion current LCU | +27.7% |
| 1978 | 2.19 billion current LCU | +5.1% |
| 1979 | 2.36 billion current LCU | +7.6% |
| 1980 | 2.78 billion current LCU | +17.7% |
| 1981 | 3.25 billion current LCU | +17.0% |
| 1982 | 3.70 billion current LCU | +13.8% |
| 1983 | 4.45 billion current LCU | +20.3% |
| 1984 | 4.41 billion current LCU | -0.9% |
| 1985 | 4.87 billion current LCU | +10.3% |
| 1986 | 5.57 billion current LCU | +14.5% |
| 1987 | 6.06 billion current LCU | +8.8% |
| 1988 | 6.52 billion current LCU | +7.5% |
| 1989 | 6.37 billion current LCU | -2.2% |
| 1990 | 5.95 billion current LCU | -6.7% |
| 1991 | 5.82 billion current LCU | -2.2% |
| 1992 | 5.51 billion current LCU | -5.3% |
| 1993 | 4.93 billion current LCU | -10.4% |
| 1994 | 4.83 billion current LCU | -2.2% |
| 1995 | 5.05 billion current LCU | +4.6% |
| 1996 | 5.74 billion current LCU | +13.6% |
| 1997 | 6.17 billion current LCU | +7.5% |
| 1998 | 7.40 billion current LCU | +20.0% |
| 1999 | 7.87 billion current LCU | +6.3% |
| 2000 | 8.63 billion current LCU | +9.6% |
| 2001 | 9.66 billion current LCU | +12.0% |
| 2002 | 10.07 billion current LCU | +4.2% |
| 2003 | 9.89 billion current LCU | -1.7% |
| 2004 | 10.33 billion current LCU | +4.4% |
| 2005 | 10.55 billion current LCU | +2.1% |
| 2006 | 12.00 billion current LCU | +13.7% |
| 2007 | 12.73 billion current LCU | +6.1% |
| 2008 | 12.69 billion current LCU | -0.3% |
| 2009 | 12.31 billion current LCU | -3.0% |
| 2010 | 13.11 billion current LCU | +6.5% |
| 2011 | 13.45 billion current LCU | +2.6% |
| 2012 | 14.06 billion current LCU | +4.5% |
| 2013 | 15.11 billion current LCU | +7.5% |
| 2014 | 16.35 billion current LCU | +8.2% |
| 2015 | 17.32 billion current LCU | +5.9% |
| 2016 | 18.94 billion current LCU | +9.4% |
| 2017 | 19.68 billion current LCU | +3.9% |
| 2018 | 20.13 billion current LCU | +2.3% |
| 2019 | 21.79 billion current LCU | +8.2% |
| 2020 | 21.40 billion current LCU | -1.7% |
| 2021 | 23.04 billion current LCU | +7.6% |
| 2022 | 25.24 billion current LCU | +9.5% |
| 2023 | 26.92 billion current LCU | +6.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 26.92 billion current LCU is below the median for high income countries, which is 220.22 billion current LCU, 12% of the median. (82 countries reporting)
- Faroe Islands's 26.92 billion current LCU is below the median for Europe & Central Asia, which is 481.94 billion current LCU, 6% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.40 billion current LCU | 637.00 million current LCU | 2.36 billion current LCU | 10 |
| 1980s | 4.80 billion current LCU | 2.78 billion current LCU | 6.52 billion current LCU | 10 |
| 1990s | 5.93 billion current LCU | 4.83 billion current LCU | 7.87 billion current LCU | 10 |
| 2000s | 10.89 billion current LCU | 8.63 billion current LCU | 12.73 billion current LCU | 10 |
| 2010s | 16.99 billion current LCU | 13.11 billion current LCU | 21.79 billion current LCU | 10 |
| 2020s | 24.15 billion current LCU | 21.40 billion current LCU | 26.92 billion current 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 26.92 billion current LCU in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp recorded in Faroe Islands?
- The highest recorded value was 26.92 billion current LCU in 2023.
- What is the lowest gdp recorded in Faroe Islands?
- The lowest recorded value was 637.00 million current LCU in 1970.
- How does Faroe Islands rank for gdp?
- Faroe Islands ranks 168th out of 211 countries with data for 2023.
- Is gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 78.2%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from UNESCO Institute for Statistics, published as part of GDP (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release