GDP per capita (current US$) (UNESCO Institute) in Faroe Islands
Faroe Islands: GDP per capita (current US$) (UNESCO Institute) was 71,774 current US$ in 2023. ◆ Volatile
Latest (2023)
71,774 current US$
Change on year
up 8.5%
World rank
16th
of 211 countries
All-time high
71,774 current US$
in 2023
All-time low
2,219 current US$
in 1970
Years of data
54
1970–2023
GDP per capita in Faroe Islands, 1970–2023
Source: UNESCO Institute for Statistics. Measured in current US$.
Analysis
In 2023, gdp per capita in Faroe Islands stood at 71,774 current US$. That is the highest value across all 54 years on record.
Compared with earlier readings it is up 8.5% on the previous year and up 28.7% over ten years.
Over the whole period, gdp per capita in Faroe Islands peaked at 71,774 current US$ in 2023 and was at its lowest, 2,219 current US$, in 1970.
That places Faroe Islands 16th out of 211 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
GDP per capita (current US$) (UNESCO Institute) in Faroe Islands, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 2,219 current US$ | — |
| 1971 | 2,564 current US$ | +15.5% |
| 1972 | 3,046 current US$ | +18.8% |
| 1973 | 4,068 current US$ | +33.5% |
| 1974 | 4,906 current US$ | +20.6% |
| 1975 | 5,606 current US$ | +14.3% |
| 1976 | 6,594 current US$ | +17.6% |
| 1977 | 8,387 current US$ | +27.2% |
| 1978 | 9,479 current US$ | +13.0% |
| 1979 | 10,549 current US$ | +11.3% |
| 1980 | 11,446 current US$ | +8.5% |
| 1981 | 10,458 current US$ | -8.6% |
| 1982 | 10,053 current US$ | -3.9% |
| 1983 | 10,893 current US$ | +8.4% |
| 1984 | 9,437 current US$ | -13.4% |
| 1985 | 10,049 current US$ | +6.5% |
| 1986 | 14,934 current US$ | +48.6% |
| 1987 | 18,983 current US$ | +27.1% |
| 1988 | 20,454 current US$ | +7.7% |
| 1989 | 18,181 current US$ | -11.1% |
| 1990 | 20,126 current US$ | +10.7% |
| 1991 | 19,164 current US$ | -4.8% |
| 1992 | 19,301 current US$ | +0.7% |
| 1993 | 16,374 current US$ | -15.2% |
| 1994 | 16,976 current US$ | +3.7% |
| 1995 | 20,670 current US$ | +21.8% |
| 1996 | 22,706 current US$ | +9.9% |
| 1997 | 21,159 current US$ | -6.8% |
| 1998 | 24,729 current US$ | +16.9% |
| 1999 | 24,979 current US$ | +1.0% |
| 2000 | 23,323 current US$ | -6.6% |
| 2001 | 24,880 current US$ | +6.7% |
| 2002 | 26,938 current US$ | +8.3% |
| 2003 | 31,270 current US$ | +16.1% |
| 2004 | 35,648 current US$ | +14.0% |
| 2005 | 36,389 current US$ | +2.1% |
| 2006 | 41,744 current US$ | +14.7% |
| 2007 | 48,349 current US$ | +15.8% |
| 2008 | 51,288 current US$ | +6.1% |
| 2009 | 47,059 current US$ | -8.2% |
| 2010 | 47,923 current US$ | +1.8% |
| 2011 | 51,619 current US$ | +7.7% |
| 2012 | 50,262 current US$ | -2.6% |
| 2013 | 55,758 current US$ | +10.9% |
| 2014 | 60,172 current US$ | +7.9% |
| 2015 | 52,635 current US$ | -12.5% |
| 2016 | 56,875 current US$ | +8.1% |
| 2017 | 59,387 current US$ | +4.4% |
| 2018 | 62,526 current US$ | +5.3% |
| 2019 | 63,067 current US$ | +0.9% |
| 2020 | 62,241 current US$ | -1.3% |
| 2021 | 68,749 current US$ | +10.5% |
| 2022 | 66,139 current US$ | -3.8% |
| 2023 | 71,774 current US$ | +8.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 71,774 current US$ is above the median for high income countries, which is 38,080 current US$, 1.9× the median. (82 countries reporting)
- Faroe Islands's 71,774 current US$ is above the median for Europe & Central Asia, which is 29,386 current US$, 2.4× the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5,742 current US$ | 2,219 current US$ | 10,549 current US$ | 10 |
| 1980s | 13,489 current US$ | 9,437 current US$ | 20,454 current US$ | 10 |
| 1990s | 20,618 current US$ | 16,374 current US$ | 24,979 current US$ | 10 |
| 2000s | 36,689 current US$ | 23,323 current US$ | 51,288 current US$ | 10 |
| 2010s | 56,023 current US$ | 47,923 current US$ | 63,067 current US$ | 10 |
| 2020s | 67,226 current US$ | 62,241 current US$ | 71,774 current US$ | 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 71,774 current US$ in 2023, according to UNESCO Institute for Statistics.
- What is the highest gdp per capita recorded in Faroe Islands?
- The highest recorded value was 71,774 current US$ in 2023.
- What is the lowest gdp per capita recorded in Faroe Islands?
- The lowest recorded value was 2,219 current US$ in 1970.
- How does Faroe Islands rank for gdp per capita?
- Faroe Islands ranks 16th 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 28.7%. 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 US$). 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