Faroe Islands Live GDP
$2,495,068,882
GDP Added Today
$7,786,893
Faroe Islands GDP (2026)
LiveThe Faroe Islands have a prosperous North Atlantic economy built largely around fishing, aquaculture, seafood processing, and maritime services. Modern fisheries supply international markets, while transportation, construction, and other service industries contribute to domestic prosperity. This page presents Faeroe Islands GDP information, historical trends, and the economic outlook for 2026.
GDP Growth Rate (2024)
0.84%
vs 2023
โผ โ2.32%
GDP Per Capita (2024)
$74,175
vs 2023
โฒ +$1,689
Global Rank (Nominal)
N/A
of 218 countries
World Share
N/A
of 2026 World GDP
Years Covered
1965โ2024
60 years
Faroe Islands GDP Growth (1965โ2024)
Annual real GDP growth rate (%)
Historical Highlights
1965โ2024 GDP performance summary
Highest GDP
$4.05B
Lowest GDP
$57.95M
Average Growth
0.69%
1965โ2024
Best Growth
7.08%
Weakest Growth
-4.55%
Share of World GDP (2026)
Faroe Islands
0.00%
United States
25.58%
China
16.47%
Germany
4.31%
Japan
3.46%
Rest of World
50.18%
Key Findings
โ
Faroe Islands's GDP in 2026 is $4.05B.
โ
It ranks #0 among 218 countries.
โ
Faroe Islands contributes 0.00% to the world economy.
โ
GDP per capita is $74,175 in 2024.
โ
The economy recorded GDP growth of 0.84% in 2024.
Historical Data
Faroe Islands GDP Historical Data (1965โ2024)
| 2024 | $4,052,937,170 | 0.84% | $74,175 | 0.00% | #171 |
| 2023 | $3,943,131,022 | 3.16% | $72,487 | 0.00% | #172 |
| 2022 | $3,615,241,801 | 3.86% | $67,069 | 0.00% | #175 |
| 2021 | $3,699,551,717 | 5.07% | $69,422 | 0.00% | #172 |
| 2020 | $3,271,813,312 | -1.64% | $62,248 | 0.00% | #172 |
| 2019 | $3,266,432,734 | 4.54% | $63,071 | 0.00% | #174 |
| 2018 | $3,188,600,927 | 2.76% | $62,525 | 0.00% | #175 |
| 2017 | $2,980,057,378 | 3.51% | $59,389 | 0.00% | #177 |
| 2016 | $2,813,278,869 | 1.39% | $56,876 | 0.00% | #178 |
| 2015 | $2,573,905,971 | 0.96% | $52,638 | 0.00% | #178 |
| 2014 | $2,914,012,679 | 5.43% | $60,173 | 0.00% | #176 |
| 2013 | $2,690,110,521 | 5.86% | $55,759 | 0.00% | #176 |
| 2012 | $2,427,200,389 | 7.08% | $50,263 | 0.00% | #179 |
| 2011 | $2,505,740,669 | 3.57% | $51,620 | 0.00% | #177 |
| 2010 | $2,331,796,784 | -0.38% | $47,924 | 0.00% | #175 |
| 2009 | $2,296,065,170 | -4.55% | $47,060 | 0.00% | #174 |
| 2008 | $2,489,873,250 | 0.00% | $51,288 | 0.00% | #173 |
| 2007 | $2,339,015,313 | 0.00% | $48,349 | 0.00% | #171 |
| 2006 | $2,017,680,835 | 0.00% | $41,744 | 0.00% | #171 |
| 2005 | $1,759,739,599 | 0.00% | $36,389 | 0.00% | #172 |
| 2004 | $1,724,770,771 | 0.00% | $35,648 | 0.00% | #171 |
| 2003 | $1,501,941,581 | 0.00% | $31,270 | 0.00% | #172 |
| 2002 | $1,275,093,689 | 0.00% | $26,938 | 0.00% | #170 |
| 2001 | $1,160,268,212 | 0.00% | $24,880 | 0.00% | #167 |
| 2000 | $1,067,109,531 | 0.00% | $23,323 | 0.00% | #167 |
| 1999 | $1,127,684,827 | 0.00% | $24,979 | 0.00% | #160 |
| 1998 | $1,104,744,235 | 0.00% | $24,729 | 0.00% | #162 |
| 1997 | $933,763,083 | 0.00% | $21,158 | 0.00% | #165 |
| 1996 | $989,536,915 | 0.00% | $22,706 | 0.00% | #162 |
| 1995 | $901,404,710 | 0.00% | $20,669 | 0.00% | #162 |
| 1994 | $758,739,179 | 0.00% | $16,976 | 0.00% | #158 |
| 1993 | $760,957,190 | 0.00% | $16,374 | 0.00% | #154 |
| 1992 | $912,670,413 | 0.00% | $19,301 | 0.00% | #144 |
| 1991 | $909,253,215 | 0.00% | $19,164 | 0.00% | #136 |
| 1990 | $960,805,409 | 0.00% | $20,125 | 0.00% | #133 |
| 1989 | $871,935,350 | 0.00% | $18,181 | 0.00% | #132 |
| 1988 | $968,576,957 | 0.00% | $20,453 | 0.01% | #129 |
| 1987 | $886,508,622 | 0.00% | $18,982 | 0.01% | #129 |
| 1986 | $688,914,289 | 0.00% | $14,934 | 0.00% | #130 |
| 1985 | $459,307,281 | 0.00% | $10,049 | 0.00% | #133 |
| 1984 | $426,008,865 | 0.00% | $9,437 | 0.00% | #130 |
| 1983 | $486,605,128 | 0.00% | $10,893 | 0.00% | #131 |
| 1982 | $444,047,495 | 0.00% | $10,053 | 0.00% | #131 |
| 1981 | $456,244,919 | 0.00% | $10,458 | 0.00% | #131 |
| 1980 | $493,014,300 | 0.00% | $11,446 | 0.00% | #130 |
| 1979 | $448,568,493 | 0.00% | $10,549 | 1.02% | #8 |
| 1978 | $397,833,035 | 0.00% | $9,479 | 0.99% | #8 |
| 1977 | $347,798,305 | 0.00% | $8,387 | 1.02% | #8 |
| 1976 | $270,470,345 | 0.00% | $6,594 | 0.82% | #8 |
| 1975 | $227,404,436 | 0.00% | $5,606 | 0.73% | #8 |
| 1974 | $196,771,071 | 0.00% | $4,906 | 0.75% | #8 |
| 1973 | $161,236,466 | 0.00% | $4,068 | 0.73% | #8 |
| 1972 | $119,335,898 | 0.00% | $3,046 | 0.63% | #8 |
| 1971 | $99,219,083 | 0.00% | $2,564 | 0.60% | #8 |
| 1970 | $84,933,333 | 0.00% | $2,219 | 0.60% | #8 |
| 1969 | $70,106,667 | 0.00% | $1,849 | 2.35% | #5 |
| 1968 | $65,186,667 | 0.00% | $1,736 | 2.67% | #5 |
| 1967 | $66,225,404 | 0.00% | $1,780 | 3.03% | #5 |
| 1966 | $64,397,131 | 0.00% | $1,749 | 3.39% | #5 |
| 1965 | $57,954,522 | 0.00% | $1,594 | 2.95% | #5 |
Faroe Islands GDP Projections (IMF)
iProjection data is not available.
Faroe Islands Economy Overview
The Faroe Islands have developed a specialized maritime economy in which fishing and aquaculture dominate merchandise exports. Salmon farming and commercial fisheries supply high-value seafood to European, North American, and Asian markets, while fish processing creates additional value within the islands. Shipping, marine engineering, transportation, construction, retail, and public services support the broader economy. Modern fishing fleets and technological improvements have increased productivity in the seafood industry. Renewable electricity, tourism, and digital connectivity are receiving greater attention as the islands seek to broaden economic activity beyond marine exports.
Faroe Islands GDP Outlook
TheFaroe Islands are likely to remain supported by fisheries, salmon farming, seafood exports, and marine services. Investment in aquaculture technology, renewable energy, shipping, and tourism could broaden the economic base while preserving strong export competitiveness. Global seafood demand is an important advantage. Risks include fish-stock changes, biological threats to aquaculture, trade restrictions, labor shortages, and dependence on a narrow group of export industries.