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FO

Faroe Islands

FO · FRO · #220 · 6 cities

Nomad score 48/100 Compare

Key indicators

GDP per capita (PPP) (2024)
$82,089
GDP (2024)
$4.1B
GDP growth (2024)
0.8% ↓
Population (2025)
54.9K
Population growth (2025)
0.5% ↑
Current account (2011)
7.8% of GDP
Life expectancy (2024)
83.1 yrs
Internet users (2017)
97.6%
Mobile subscriptions (2022)
105.8/100
Trade openness (2024)
105.8% of GDP
Exchange rate (2025)
6.62/USD
Source: World Bank + IMF World Economic Outlook. Most recent data: 2025.

GDP overview

Nominal GDP and real growth. Dashed = IMF forecast.

GDP per capita (PPP)

Purchasing power parity adjusted, in international dollars

Inflation (CPI)

Inflation data not available.

Unemployment

Unemployment data not available.

ILO modeled estimate

Population

Fiscal and trade

Current account (2011)
7.8% of GDP

Business environment

Services sector (2024)
53.8% of GDP

Financial access and costs

ICT service exports (2011)
4.4%

Historical data

Historical economic data
Year GDP GDP/cap PPP Growth Inflation Unemp. Population Gini Debt Curr. acct FDI Life exp. Health Internet FX rate
2025 - - - - - 54.9K - - - - - - - 6.62
2024 $4.1B $82,089 0.8% - - 54.6K - - - - 83.1 - - 6.89
2023 $3.9B $79,784 3.2% - - 54.4K - - - - 83.0 - - 6.89
2022 $3.6B $75,266 3.9% - - 53.9K - - - - 82.8 - - 7.08
2021 $3.7B $68,433 5.1% - - 53.3K - - - - 82.7 - - 6.29
2020 $3.3B $61,656 -1.6% - - 52.6K - - - - 82.5 - - 6.54
2019 $3.3B $62,226 4.5% - - 51.8K - - - - 82.4 - - 6.67
2018 $3.2B $58,932 2.8% - - 51.0K - - - - 82.3 - - 6.31
2017 $3.0B $56,417 3.5% - - 50.2K - - - - 82.1 - 97.6% 6.60
2016 $2.8B $54,319 1.4% - - 49.5K - - - - 82.0 - 95.1% 6.73
2015 $2.6B $53,685 1.0% - - 48.9K - - - - 81.8 - 94.2% 6.73
2014 $2.9B $53,200 5.4% - - 48.4K - - - - 81.6 - 93.3% 5.61
2013 $2.7B $49,782 5.9% - - 48.2K - - - - 81.4 - 90.0% 5.62
2012 $2.4B $46,198 7.1% - - 48.3K - - - - 81.1 - 85.3% 5.79
2011 $2.5B $42,134 3.6% - - 48.5K - - 7.8% - 80.9 - 80.7% 5.37
2010 $2.3B $39,767 -0.4% - - 48.7K - - 6.2% - 80.6 - 75.2% 5.62
2009 $2.3B $39,331 -4.6% - - 48.8K - - -1.1% - 80.4 - 75.2% 5.36
2008 $2.5B $41,160 - - - 48.5K - - -1.2% - 80.2 - 75.6% 5.10
2007 $2.3B - - - - 48.4K - - -3.4% - 79.9 - 76.0% 5.44
2006 $2.0B - - - - 48.3K - - 1.1% - 79.7 - 69.4% 5.95
2005 $1.8B - - - - 48.4K - - 1.8% - 79.5 - 67.9% 6.00
Source: World Bank + IMF World Economic Outlook. * = IMF forecast.

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