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Faroe Islands

Headline economic indicators for Faroe Islands, with the most recent official readings.

Prices

Prices — Faroe Islands
Indicator Value Change
GDP deflator inflation · 2.0% -0.95 (-32.2%)

GDP

GDP — Faroe Islands
Indicator Value Change
GDP growth rate · 0.8% -2.32 (-73.3%)
GDP per capita · 74,175.28 +1,689 (+2.3%)
GDP · 4,052,937,169.77 +109,806,148 (+2.8%)
GDP, PPP · 4,485,358,437 +145,264,266 (+3.3%)
GDP per capita, PPP · 82,089 +2,305 (+2.9%)
GDP per capita growth · 0.4% -1.82 (-82.1%)
GNI per capita · 73,120 -300.00 (-0.4%)
Agriculture to GDP · 16.1% -1.69 (-9.5%)
Industry to GDP · 18.3% -1.53 (-7.7%)
Manufacturing to GDP · 9.5% -1.94 (-17.0%)
Services to GDP · 53.8% +2.19 (+4.2%)
Household consumption to GDP · 40.6% +0.01 (+0.0%)
Gross capital formation to GDP · 28.2% -3.21 (-10.2%)
Gross savings to GDP · 28.8% +5.43 (+23.3%)

Money

Money — Faroe Islands
Indicator Value Change
Official exchange rate · 6.62 -0.27 (-4.0%)

Trade

Trade — Faroe Islands
Indicator Value Change
Current account to GDP · 7.8% +1.57 (+25.3%)
Exports to GDP · 54.6% -2.64 (-4.6%)
Imports to GDP · 51.2% -4.95 (-8.8%)
Trade to GDP · 105.8% -7.58 (-6.7%)
Exports of goods and services · 2,211,130,769.47 -44,133,490 (-2.0%)
Imports of goods and services · 2,074,963,892.91 -138,774,626 (-6.3%)
Trade balance, goods and services (annual) · -130,430,094.8 -45,411,010 (-53.4%)
Current account balance (annual) · 194,304,400.89 +50,028,122 (+34.7%)
Remittances received to GDP · 6.3% +0.04 (+0.7%)

Government

Government — Faroe Islands
Indicator Value Change
Government consumption to GDP · 27.9% +0.89 (+3.3%)

Demography

Demography — Faroe Islands
Indicator Value Change
Population · 54,900 +260.00 (+0.5%)
Population growth · 0.5% +0.03 (+6.9%)
Life expectancy · 83.1 +0.13 (+0.2%)
Fertility rate · 1.91 +0.05 (+2.4%)
Birth rate · 10.8 +0.20 (+1.9%)
Death rate · 8.2 +0.56 (+7.4%)
Urban population share · 39.6% +0.23 (+0.6%)
Population aged 65 and over · 17.8% +0.04 (+0.2%)
Population density · 39.9 +0.18 (+0.4%)
Net migration · 386 -102.00 (-20.9%)

Economies nearby

Comparable readings from neighbouring economies.