GDP per capita (current LCU) (UNESCO Institute) in Faroe Islands
Faroe Islands: GDP per capita (current LCU) (UNESCO Institute) was 494,504 current LCU in 2023. ◆ Volatile
Latest (2023)
494,504 current LCU
Change on year
up 5.7%
World rank
69th
of 211 countries
All-time high
494,504 current LCU
in 2023
All-time low
16,645 current LCU
in 1970
Years of data
54
1970–2023
GDP per capita in Faroe Islands, 1970–2023
Source: UNESCO Institute for Statistics. Measured in current LCU.
Analysis
In 2023, gdp per capita in Faroe Islands stood at 494,504 current LCU. That is the highest value across all 54 years on record.
The figure is up 5.7% on the previous year and up 57.9% over ten years.
Over the whole period, gdp per capita in Faroe Islands peaked at 494,504 current LCU in 2023 and was at its lowest, 16,645 current LCU, in 1970.
That places Faroe Islands 69th out of 211 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 per capita (current LCU) (UNESCO Institute) in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 1970 | 16,645 current LCU | — |
| 1971 | 19,014 current LCU | +14.2% |
| 1972 | 21,171 current LCU | +11.3% |
| 1973 | 24,609 current LCU | +16.2% |
| 1974 | 29,903 current LCU | +21.5% |
| 1975 | 32,210 current LCU | +7.7% |
| 1976 | 39,859 current LCU | +23.7% |
| 1977 | 50,350 current LCU | +26.3% |
| 1978 | 52,276 current LCU | +3.8% |
| 1979 | 55,500 current LCU | +6.2% |
| 1980 | 64,511 current LCU | +16.2% |
| 1981 | 74,497 current LCU | +15.5% |
| 1982 | 83,765 current LCU | +12.4% |
| 1983 | 99,619 current LCU | +18.9% |
| 1984 | 97,738 current LCU | -1.9% |
| 1985 | 106,483 current LCU | +8.9% |
| 1986 | 120,830 current LCU | +13.5% |
| 1987 | 129,847 current LCU | +7.5% |
| 1988 | 137,683 current LCU | +6.0% |
| 1989 | 132,908 current LCU | -3.5% |
| 1990 | 124,550 current LCU | -6.3% |
| 1991 | 122,581 current LCU | -1.6% |
| 1992 | 116,504 current LCU | -5.0% |
| 1993 | 106,169 current LCU | -8.9% |
| 1994 | 107,979 current LCU | +1.7% |
| 1995 | 115,799 current LCU | +7.2% |
| 1996 | 131,666 current LCU | +13.7% |
| 1997 | 139,743 current LCU | +6.1% |
| 1998 | 165,705 current LCU | +18.6% |
| 1999 | 174,257 current LCU | +5.2% |
| 2000 | 188,521 current LCU | +8.2% |
| 2001 | 207,070 current LCU | +9.8% |
| 2002 | 212,665 current LCU | +2.7% |
| 2003 | 205,994 current LCU | -3.1% |
| 2004 | 213,566 current LCU | +3.7% |
| 2005 | 218,222 current LCU | +2.2% |
| 2006 | 248,240 current LCU | +13.8% |
| 2007 | 263,196 current LCU | +6.0% |
| 2008 | 261,472 current LCU | -0.7% |
| 2009 | 252,278 current LCU | -3.5% |
| 2010 | 269,523 current LCU | +6.8% |
| 2011 | 277,128 current LCU | +2.8% |
| 2012 | 291,141 current LCU | +5.1% |
| 2013 | 313,156 current LCU | +7.6% |
| 2014 | 337,714 current LCU | +7.8% |
| 2015 | 354,124 current LCU | +4.9% |
| 2016 | 382,868 current LCU | +8.1% |
| 2017 | 392,128 current LCU | +2.4% |
| 2018 | 394,831 current LCU | +0.7% |
| 2019 | 420,622 current LCU | +6.5% |
| 2020 | 407,189 current LCU | -3.2% |
| 2021 | 432,235 current LCU | +6.2% |
| 2022 | 468,012 current LCU | +8.3% |
| 2023 | 494,504 current LCU | +5.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 494,504 current LCU is above the median for high income countries, which is 67,855 current LCU, 7.3× the median. (82 countries reporting)
- Faroe Islands's 494,504 current LCU is above the median for Europe & Central Asia, which is 63,027 current LCU, 7.8× the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 34,154 current LCU | 16,645 current LCU | 55,500 current LCU | 10 |
| 1980s | 104,788 current LCU | 64,511 current LCU | 137,683 current LCU | 10 |
| 1990s | 130,495 current LCU | 106,169 current LCU | 174,257 current LCU | 10 |
| 2000s | 227,122 current LCU | 188,521 current LCU | 263,196 current LCU | 10 |
| 2010s | 343,324 current LCU | 269,523 current LCU | 420,622 current LCU | 10 |
| 2020s | 450,485 current LCU | 407,189 current LCU | 494,504 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 per capita in Faroe Islands?
- Gdp per capita in Faroe Islands was 494,504 current LCU in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp per capita recorded in Faroe Islands?
- The highest recorded value was 494,504 current LCU in 2023.
- What is the lowest gdp per capita recorded in Faroe Islands?
- The lowest recorded value was 16,645 current LCU in 1970.
- How does Faroe Islands rank for gdp per capita?
- Faroe Islands ranks 69th out of 211 countries with data for 2023.
- Is gdp per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 57.9%. 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 per capita (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