GDP growth (annual %) in Faroe Islands stood at 0.84% in 2024, according to World Bank. The latest value is down 2.32 percentage points from 3.16% in 2023. Ten years earlier, in 2014, the value was 5.43% (down 4.59 percentage points since). The highest value since 2009 was 7.08% in 2012, the lowest -4.55% in 2009. Faroe Islands ranked 170th highest of the 200 countries in this dataset in 2024; Guyana ranked first.
Data source: World Bank · Unit: % · Category: Macroeconomics · Explore more indicators on EconDash
GDP growth (annual %), measured in %, measures the total economic output of Faroe Islands. It represents the broadest indicator of economic activity, capturing production, income, and expenditure across all sectors — from manufacturing and services to agriculture and government. GDP can be calculated three ways: by adding up all expenditures (consumption + investment + government spending + net exports), by summing all incomes earned, or by totaling value added at each production stage. In Faroe Islands, the statistical agency compiles GDP data through comprehensive surveys of businesses, government records, and household expenditure patterns. While GDP per capita provides insight into average living standards, it does not capture income distribution, environmental costs, or unpaid work like caregiving. Nevertheless, GDP growth remains the most widely followed metric for assessing whether an economy is expanding or contracting.
GDP growth (annual %) in Faroe Islands stood at 0.84% in 2024, according to World Bank.
The latest value is down 2.32 percentage points from 3.16% in 2023. Ten years earlier, in 2014, the value was 5.43% (down 4.59 percentage points since).
Faroe Islands ranked 170th highest of the 200 countries in this dataset in 2024; Guyana ranked first.
The highest value since 2009 was 7.08% in 2012, the lowest -4.55% in 2009.
| Indicator | GDP growth (annual %) |
|---|---|
| Country | Faroe Islands |
| Category | Macroeconomics |
| Unit | % |
| Source | World Bank |
| Interactive chart | View on EconDash |
| API access | EconDash API documentation |
Loading chart...
World Bank. (2026). GDP growth (annual %) — Faroe Islands [Data set]. Retrieved November 13, 2026, from EconDash: https://econdash.org/chart/gdp-growth-annual-percent/FRO. Original source: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG
World Bank. "GDP growth (annual %) — Faroe Islands." EconDash, 2026, https://econdash.org/chart/gdp-growth-annual-percent/FRO. Accessed 13 Nov. 2026. Original source: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG.
World Bank. 2026. "GDP growth (annual %) — Faroe Islands." EconDash. Accessed November 13, 2026. https://econdash.org/chart/gdp-growth-annual-percent/FRO. Original source: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG.
@misc{econdash_gdp_growth_annual_percent_fro,
author = {{World Bank}},
title = {{GDP growth (annual \%) --- Faroe Islands}},
howpublished = {EconDash},
year = {2026},
url = {https://econdash.org/chart/gdp-growth-annual-percent/FRO},
note = {Accessed: 2026-11-13. Original source: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG}
}Browse indicators available for Faroe Islands. Click any indicator to view its interactive chart, compare with other countries, and download historical data.
| Demographics | 34 indicators |
|---|---|
| Macroeconomics | 44 indicators |
| Commodities and Energy | 57 indicators |
| Technology and Internet | 7 indicators |
| Transport and Logistics | 7 indicators |
| Labor and Employment | 3 indicators |
| Financial Markets | 1 indicators |
| Total indicators | 153 |