Faeroe Islands GDP (2023)
International Monetary Fund (IMF) and World Bank (WB) data for Faeroe Islands are not available for recent years. The figures below are from the World Bank (WB) (2023).
WB (2023)
- Nominal (current) Gross Domestic Product (GDP) of Faeroe Islands is $3.91 billion ($3,907,323,961) as of 2023, according to the World Bank (WB).
- The GDP growth rate in 2023 was 2.5%, according to the World Bank (WB).
- GDP per Capita in Faeroe Islands (with a population of 54,714 people) was $71,774 in 2023, an increase of $5,635 from $66,139 in 2022; this represents a change of 8.5% in GDP per capita.
GDP Change (%)
Gross Domestic Product (GDP) of Faeroe Islands
| Year | GDP Nominal (Current USD) | GDP Real (Constant, Inflation Adjusted) | Pop. Change |
|---|---|---|---|
| 2023 | $3,907,323,961 | $3,196,193,980 | 1.3% |
| 2022 | $3,566,698,398 | $3,118,570,937 | 1.33% |
| 2021 | $3,664,686,797 | $3,011,481,923 | 1.36% |
| 2020 | $3,271,813,312 | $2,854,366,727 | 1.44% |
| 2019 | $3,266,432,734 | $2,901,879,820 | 1.58% |
| 2018 | $3,188,600,927 | $2,775,895,516 | 1.57% |
| 2017 | $2,980,057,378 | $2,701,241,060 | 1.45% |
| 2016 | $2,813,278,869 | $2,609,591,838 | 1.29% |
| 2015 | $2,573,905,971 | $2,573,905,971 | 0.83% |
| 2014 | $2,914,012,679 | $2,549,481,885 | 0.44% |
| 2013 | $2,690,110,521 | $2,418,125,854 | 0.39% |
| 2012 | $2,427,200,389 | $2,284,350,973 | 0.33% |
| 2011 | $2,505,740,669 | $2,133,282,898 | −0.49% |
| 2010 | $2,331,796,784 | $2,059,822,159 | −0.66% |
| 2009 | $2,296,065,170 | $2,067,675,563 | −0.02% |
| 2008 | $2,489,873,250 | $2,166,314,314 | 0.05% |
| 2007 | $2,339,015,313 | – | 0.09% |
| 2006 | $2,017,680,835 | – | 0.14% |
| 2005 | $1,759,739,599 | – | 0.72% |
| 2004 | $1,724,770,771 | – | 1.25% |
| 2003 | $1,501,941,581 | – | 1.27% |
| 2002 | $1,275,093,689 | – | 1.27% |
| 2001 | $1,160,268,212 | – | 1.26% |
| 2000 | $1,067,109,531 | – | 0.99% |
| 1999 | $1,127,684,827 | – | 0.72% |
| 1998 | $1,104,744,235 | – | 0.79% |
| 1997 | $933,763,083 | – | 0.82% |
| 1996 | $989,536,915 | – | 0.77% |
| 1995 | $901,404,710 | – | −0.75% |
| 1994 | $758,739,179 | – | −2.14% |
| 1993 | $760,957,190 | – | −1.93% |
| 1992 | $912,670,413 | – | −1.69% |
| 1991 | $909,253,215 | – | −1.43% |
| 1990 | $960,805,409 | – | −0.03% |
| 1989 | $871,935,350 | – | 1.18% |
| 1988 | $968,576,957 | – | 1.06% |
| 1987 | $886,508,622 | – | 0.99% |
| 1986 | $688,914,289 | – | 0.93% |
| 1985 | $459,307,281 | – | 0.97% |
| 1984 | $426,008,865 | – | 1.05% |
| 1983 | $486,605,128 | – | 1.13% |
| 1982 | $444,047,495 | – | 1.25% |
| 1981 | $456,244,919 | – | 1.29% |
| 1980 | $493,014,300 | – | 1.3% |
| 1979 | $448,568,493 | – | 1.32% |
| 1978 | $397,833,035 | – | 1.21% |
| 1977 | $347,798,305 | – | 1.09% |
| 1976 | $270,470,345 | – | 1.11% |
| 1975 | $227,404,436 | – | 1.15% |
| 1974 | $196,771,071 | – | 1.19% |
| 1973 | $161,236,466 | – | 1.18% |
| 1972 | $119,335,898 | – | 1.21% |
| 1971 | $99,219,083 | – | 1.13% |
| 1970 | $84,933,333 | – | 0.95% |
| 1969 | $70,106,667 | – | 0.92% |
| 1968 | $65,186,667 | – | 0.96% |
| 1967 | $66,225,404 | – | 1.05% |
| 1966 | $64,397,131 | – | 1.29% |
| 1965 | $57,954,522 | – | 1.39% |
Sources:
- IMF, World Economic Outlook (April 2026).
- World Bank
- National Accounts Data – United Nations Statistics Division
- World Population Prospects: The 2024 Revision – United Nations Population Division