Faroe Islands: GDP, current U.S. dollars

The latest value from 2024 is 4.05 billion U.S. dollars, an increase from 3.94 billion U.S. dollars in 2023. In comparison, the world average is 582.03 billion U.S. dollars, based on data from 190 countries. Historically, the average for the Faroe Islands from 1965 to 2024 is 1.37 billion U.S. dollars. The minimum value, 0.06 billion U.S. dollars, was reached in 1965 while the maximum of 4.05 billion U.S. dollars was recorded in 2024. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: 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. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.