Skip to main content
Home › Countries › Faroe Islands › GDP per capita growth (annual %)

Faroe Islands: GDP per capita growth (annual %)

In , Faroe Islands's GDP per capita growth (annual %) was 0.35.

That's down 84.1% from 2023, the highest value since .

The global average for this indicator in 2024 was 1.94 . Faroe Islands ranks #151 globally out of 193 reporting countries. Within Europe & Central Asia, it ranks #44 of 52.

Source: World Bank Open Data (NY.GDP.PCAP.KD.ZG) • Data as of 2024

Trend (2009–2024)

Faroe Islands GDP per capita growth (annual %) trend 2020: COVID-19 pandemic 2014: Oil price collapse 2022: Russia–Ukraine war begins
  • 2020 · COVID-19 pandemic
  • 2014 · Oil price collapse
  • 2022 · Russia–Ukraine war begins

Highlights

Peak
7.64
Trough
-5.03
1-year change
-84.1%
5-year change
-88.0%
-34.6% / yr
10-year change
-93.0%
-23.4% / yr

Historical Data — Last 10 Years

Year GDP per capita growth (annual %)
0.3513
2.2070
2.6743
3.6253
-3.0838
2.9318
1.1194
2.0350
0.2284
-0.0144

About GDP per capita growth (annual %)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate.This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Indicator code: NY.GDP.PCAP.KD.ZG • Category: Economy

About per capita measures: Per capita figures divide a country's total value by its population, giving a measure of average individual share. This makes countries of different sizes more comparable — a large country like China may have a higher total GDP than Switzerland, but Switzerland's GDP per capita is much higher.

Frequently asked questions

What was Faroe Islands's GDP per capita growth (annual %) in 2024?
In 2024, Faroe Islands's GDP per capita growth (annual %) was 0.35, according to World Bank Open Data.
Is Faroe Islands's GDP per capita growth (annual %) rising or falling?
Faroe Islands's GDP per capita growth (annual %) fell 84.1% from 2023 to 2024.
How does Faroe Islands rank globally on GDP per capita growth (annual %)?
In 2024, Faroe Islands ranked #151 out of 193 countries reporting GDP per capita growth (annual %).
How does Faroe Islands's GDP per capita growth (annual %) compare to the world average?
The global average for GDP per capita growth (annual %) in 2024 was 1.94, so Faroe Islands is below the world average. Within Europe & Central Asia, it ranks #44 of 52.
What is GDP per capita growth (annual %) and how is it measured?
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate.This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Download this data: CSV JSON

Source: World Bank Open Data (NY.GDP.PCAP.KD.ZG), CC BY 4.0.