GDP growth (annual %) (UNESCO Institute) in Faroe Islands
Faroe Islands: GDP growth (annual %) (UNESCO Institute) was 2.5% in 2023. ◆ Volatile
GDP growth in Faroe Islands, 2009–2023
Source: UNESCO Institute for Statistics. Measured in annual %.
Analysis
The most recent figure for gdp growth in Faroe Islands is 2.5%, measured in 2023.
That represents a change of down 30.0% on the previous year and down 57.5% over ten years.
Over the whole period, gdp growth in Faroe Islands peaked at 7.1% in 2012 and was at its lowest, -4.6%, in 2009.
That places Faroe Islands 133rd out of 212 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 growth (annual %) (UNESCO Institute) in Faroe Islands, year by year
| Year | annual % | Change |
|---|---|---|
| 2009 | -4.6% | — |
| 2010 | -0.4% | -91.7% |
| 2011 | 3.6% | -1039.0% |
| 2012 | 7.1% | +98.6% |
| 2013 | 5.9% | -17.3% |
| 2014 | 5.4% | -7.2% |
| 2015 | 1.0% | -82.4% |
| 2016 | 1.4% | +44.7% |
| 2017 | 3.5% | +153.3% |
| 2018 | 2.8% | -21.3% |
| 2019 | 4.5% | +64.2% |
| 2020 | -1.6% | -136.1% |
| 2021 | 5.5% | -436.2% |
| 2022 | 3.6% | -35.4% |
| 2023 | 2.5% | -30.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 2.5% is above the median for high income countries, which is 2.3%, 1.1× the median. (83 countries reporting)
- Faroe Islands's 2.5% is above the median for Europe & Central Asia, which is 2.3%, 1.1× the median. (55 countries reporting)
Biggest year-on-year movements
Years where GDP growth (annual %) (UNESCO Institute) 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 | +1039.0% | -0.4% | 3.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -4.6% | -4.6% | -4.6% | 1 |
| 2010s | 3.5% | -0.4% | 7.1% | 10 |
| 2020s | 2.5% | -1.6% | 5.5% | 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 growth in Faroe Islands?
- Gdp growth in Faroe Islands was 2.5% in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp growth recorded in Faroe Islands?
- The highest recorded value was 7.1% in 2012.
- What is the lowest gdp growth recorded in Faroe Islands?
- The lowest recorded value was -4.6% in 2009.
- How does Faroe Islands rank for gdp growth?
- Faroe Islands ranks 133rd out of 212 countries with data for 2023.
- Is gdp growth 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 UNESCO Institute for Statistics, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release