Nominal GDP in billions of USD
Year -
$4.05 billions(2.79%)
In 2024, Faroe Islands witnessed an increase in its Nominal GDP, rising to 4.05 billion dollars, and an increase in its GDP based on Purchasing Power Parity (PPP), which reached 4.48 international billion dollars.
Relatedly, in the preceding year of 2023, Faroe Islands has Nominal GDP stood at 3.94 billion dollars, while the GDP based on PPP was 4.34 international billion dollars.
The net change in Faroe Islands's GDP (Nominal) in 2024 increased by 0.11 billion dollars(2.79%), and GDP (PPP) increased by 0.14 international billion dollars(3.23%).
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | 0.06 | - | - | - | - | - |
| 1966 | 0.06 | 0 | 0 % | - | - | - |
| 1967 | 0.07 | 0.01 | 16.67 % | - | - | - |
| 1968 | 0.07 | 0 | 0 % | - | - | - |
| 1969 | 0.07 | 0 | 0 % | - | - | - |
| 1970 | 0.08 | 0.01 | 14.29 % | - | - | - |
| 1971 | 0.10 | 0.02 | 25 % | - | - | - |
| 1972 | 0.12 | 0.02 | 20 % | - | - | - |
| 1973 | 0.16 | 0.04 | 33.33 % | - | - | - |
| 1974 | 0.20 | 0.04 | 25 % | - | - | - |
| 1975 | 0.23 | 0.03 | 15 % | - | - | - |
| 1976 | 0.27 | 0.04 | 17.39 % | - | - | - |
| 1977 | 0.35 | 0.08 | 29.63 % | - | - | - |
| 1978 | 0.40 | 0.05 | 14.29 % | - | - | - |
| 1979 | 0.45 | 0.05 | 12.5 % | - | - | - |
| 1980 | 0.49 | 0.04 | 8.89 % | - | - | - |
| 1981 | 0.46 | -0.03 | -6.12 % | - | - | - |
| 1982 | 0.44 | -0.02 | -4.35 % | - | - | - |
| 1983 | 0.49 | 0.05 | 11.36 % | - | - | - |
| 1984 | 0.43 | -0.06 | -12.24 % | - | - | - |
| 1985 | 0.46 | 0.03 | 6.98 % | - | - | - |
| 1986 | 0.69 | 0.23 | 50 % | - | - | - |
| 1987 | 0.89 | 0.2 | 28.99 % | - | - | - |
| 1988 | 0.97 | 0.08 | 8.99 % | - | - | - |
| 1989 | 0.87 | -0.1 | -10.31 % | - | - | - |
| 1990 | 0.96 | 0.09 | 10.34 % | - | - | - |
| 1991 | 0.91 | -0.05 | -5.21 % | - | - | - |
| 1992 | 0.91 | 0 | 0 % | - | - | - |
| 1993 | 0.76 | -0.15 | -16.48 % | - | - | - |
| 1994 | 0.76 | 0 | 0 % | - | - | - |
| 1995 | 0.90 | 0.14 | 18.42 % | - | - | - |
| 1996 | 0.99 | 0.09 | 10 % | - | - | - |
| 1997 | 0.93 | -0.06 | -6.06 % | - | - | - |
| 1998 | 1.10 | 0.17 | 18.28 % | - | - | - |
| 1999 | 1.13 | 0.03 | 2.73 % | - | - | - |
| 2000 | 1.07 | -0.06 | -5.31 % | - | - | - |
| 2001 | 1.16 | 0.09 | 8.41 % | - | - | - |
| 2002 | 1.28 | 0.12 | 10.34 % | - | - | - |
| 2003 | 1.50 | 0.22 | 17.19 % | - | - | - |
| 2004 | 1.72 | 0.22 | 14.67 % | - | - | - |
| 2005 | 1.76 | 0.04 | 2.33 % | - | - | - |
| 2006 | 2.02 | 0.26 | 14.77 % | - | - | - |
| 2007 | 2.34 | 0.32 | 15.84 % | - | - | - |
| 2008 | 2.49 | 0.15 | 6.41 % | 2.00 | - | - |
| 2009 | 2.30 | -0.19 | -7.63 % | 1.92 | -0.08 | -4 % |
| 2010 | 2.33 | 0.03 | 1.3 % | 1.93 | 0.01 | 0.52 % |
| 2011 | 2.51 | 0.18 | 7.73 % | 2.05 | 0.12 | 6.22 % |
| 2012 | 2.43 | -0.08 | -3.19 % | 2.23 | 0.18 | 8.78 % |
| 2013 | 2.69 | 0.26 | 10.7 % | 2.40 | 0.17 | 7.62 % |
| 2014 | 2.91 | 0.22 | 8.18 % | 2.58 | 0.18 | 7.5 % |
| 2015 | 2.57 | -0.34 | -11.68 % | 2.63 | 0.05 | 1.94 % |
| 2016 | 2.81 | 0.24 | 9.34 % | 2.69 | 0.06 | 2.28 % |
| 2017 | 2.98 | 0.17 | 6.05 % | 2.83 | 0.14 | 5.2 % |
| 2018 | 3.19 | 0.21 | 7.05 % | 3.01 | 0.18 | 6.36 % |
| 2019 | 3.27 | 0.08 | 2.51 % | 3.22 | 0.21 | 6.98 % |
| 2020 | 3.27 | 0 | 0 % | 3.24 | 0.02 | 0.62 % |
| 2021 | 3.70 | 0.43 | 13.15 % | 3.65 | 0.41 | 12.65 % |
| 2022 | 3.62 | -0.08 | -2.16 % | 4.06 | 0.41 | 11.23 % |
| 2023 | 3.94 | 0.32 | 8.84 % | 4.34 | 0.28 | 6.9 % |
| 2024 | 4.05 | 0.11 | 2.79 % | 4.48 | 0.14 | 3.23 % |