For that indicator, The World Bank provides data for the Faroe Islands from 1998 to 2016. The average value for the Faroe Islands during that period was 0 percent with a minimum of 0 percent in 1998 and a maximum of 0 percent in 1998.
The latest value from 2016 is 0 percent. For comparison, the world average in 2016 based on 190
countries is 0.53 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
Definition: We calculated the world GDP as the sum of the GDP of all countries expressed in current USD. The share of GDP is the GDP of a particular country as percent of the world GDP. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.