Faroe Islands
Capital: TorshavnRegion: Europe & Central AsiaIncome: High income
GDP
N/A
Population
54,681
2024
GDP per Capita
N/A
Life Expectancy
83.1 years
2023
Economy
| Indicator | Value | Year |
|---|---|---|
| GNI (Current USD) | $4.12B | 2024 |
| GNI per Capita (USD) | $73K | 2024 |
| GNI per Capita, PPP (USD) | $83K | 2024 |
| Industry Value Added (% of GDP) | 18.3% | 2024 |
| Services Value Added (% of GDP) | 53.8% | 2024 |
| Agriculture Value Added (% of GDP) | 16.1% | 2024 |
| Government Consumption (% of GDP) | 27.9% | 2024 |
| Household Consumption (% of GDP) | 40.6% | 2024 |
| Gross Capital Formation (% of GDP) | 28.2% | 2024 |
| GDP Deflator (%) | 2.0% | 2024 |
| Manufacturing Value Added (% of GDP) | 9.5% | 2024 |
| External Balance on Goods & Services (% of GDP) | 3.4% | 2024 |
| Mineral Rents (% of GDP) | 0.00% | 2021 |
| Oil Rents (% of GDP) | 0.00% | 2021 |
| Natural Gas Rents (% of GDP) | 0.00% | 2021 |
| Total Natural Resources Rents (% of GDP) | 0.0% | 2021 |
| Forest Rents (% of GDP) | 0.00% | 2021 |
| Industry Value Added (Current USD) | $741.7M | 2024 |
Fiscal & Monetary
| Indicator | Value | Year |
|---|---|---|
| Official Exchange Rate (per USD) | 6.89 | 2024 |
Trade
| Indicator | Value | Year |
|---|---|---|
| Trade (% of GDP) | 105.8% | 2024 |
| Imports of Goods & Services (% of GDP) | 51.2% | 2024 |
| Exports of Goods & Services (USD) | $2.21B | 2024 |
| Imports of Goods & Services (USD) | $2.07B | 2024 |
People
| Indicator | Value | Year |
|---|---|---|
| Population | 54,681 | 2024 |
| Population Growth (%) | 0.5% | 2024 |
| Population Density (per km²) | 40 | 2023 |
| Surface Area (sq km) | 12,960 | 2023 |
| Land Area (sq km) | 1,370 | 2023 |
| Urban Population (%) | 39.4% | 2024 |
| Urban Population (total) | 21,552 | 2024 |
| Rural Population (%) | 60.6% | 2024 |
| Life Expectancy at Birth | 83.1 years | 2023 |
| Life Expectancy, Male | 80.9 years | 2023 |
| Life Expectancy, Female | 85.5 years | 2023 |
| Fertility Rate (births per woman) | 1.9 | 2023 |
| Birth Rate (per 1,000) | 10.6 | 2023 |
| Death Rate (per 1,000) | 7.6 | 2023 |
| Net Migration | 386 | 2025 |
| Population Ages 0–14 (%) | 20.0% | 2024 |
| Population Ages 15–64 (%) | 62.3% | 2024 |
| Population Ages 65+ (%) | 17.7% | 2024 |
| Age Dependency Ratio (%) | 60.5% | 2024 |
| Mortality Rate, Adult Male (per 1,000) | 62.5 | 2023 |
| Mortality Rate, Adult Female (per 1,000) | 36.2 | 2023 |
Energy & Environment
| Indicator | Value | Year |
|---|---|---|
| Renewable Electricity Output (%) | 38.1% | 2021 |
| Renewable Energy Consumption (%) | 7.9% | 2022 |
| Forest Area (%) | 0.1% | 2023 |
| Forest Area (sq km) | 1 | 2023 |
| Terrestrial Protected Areas (%) | 0.0% | 2024 |
| Marine Protected Areas (%) | 0.0% | 2024 |
| Access to Basic Drinking Water (%) | 100.0% | 2024 |
Agriculture
| Indicator | Value | Year |
|---|---|---|
| Agricultural Land (%) | 70.1% | 2023 |
| Food Production Index (2014–2016=100) | 106.6 | 2022 |
| Crop Production Index (2014–2016=100) | 99.4 | 2022 |
| Livestock Production Index (2014–2016=100) | 107.1 | 2022 |
| Fertilizer Consumption (kg per hectare) | 614.3 | 2023 |
Technology
| Indicator | Value | Year |
|---|---|---|
| Fixed Broadband Subscriptions (per 100) | 34.6 | 2022 |
| Secure Internet Servers (per million) | 11,411.6 | 2024 |
Infrastructure
| Indicator | Value | Year |
|---|---|---|
| Container Port Traffic (TEU) | 31,214 | 2019 |
| Electricity from Oil (%) | 61.9% | 2021 |
| Electricity from Nuclear (%) | 0.0% | 2021 |
Gender
| Indicator | Value | Year |
|---|---|---|
| Adolescent Fertility Rate (per 1,000) | 4.7 | 2023 |
Urban Development
| Indicator | Value | Year |
|---|---|---|
| Rural Population Growth (%) | 0.1% | 2024 |