Faroe Islands: Age dependency ratio

The latest value from 2023 is 63.05 percent, an increase from 62.94 percent in 2022. In comparison, the world average is 58.49 percent, based on data from 196 countries. Historically, the average for the Faroe Islands from 1960 to 2023 is 61.46 percent. The minimum value, 56.21 percent, was reached in 2007 while the maximum of 68.8 percent was recorded in 1960. See the global rankings for that indicator or use the country comparator to compare trends over time.

The age dependency ratio for the Faroe Islands is calculated as follows: Age dependency = (people younger than 15 and older than 64) / (working age people ages 15-64). A higher value for the Faroe Islands and other countries means that employed people have to support more non-working people, either young or old.

Definition: Age dependency ratio is the ratio of dependents--people younger than 15 or older than 64--to the working-age population--those ages 15-64. Data are shown as the proportion of dependents per 100 working-age population.