Faroe Islands: GDP per capita, current dollars

The latest value from 2023 is 71774.35 U.S. dollars, an increase from 66139.38 U.S. dollars in 2022. In comparison, the world average is 20898.06 U.S. dollars, based on data from 188 countries. Historically, the average for the Faroe Islands from 1965 to 2023 is 27173.13 U.S. dollars. The minimum value, 1594.48 U.S. dollars, was reached in 1965 while the maximum of 71774.35 U.S. dollars was recorded in 2023. See the global rankings or world map 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. The core indicator has been divided by the general population to achieve a per capita estimate.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.