Faroe Islands
- Capital
- Torshavn
- Region
- Europe & Central Asia
- Income group
- High income
- Population
- 55,000 (2025)
At a glance
- The Faroe Islands' economy grew 0.8% in 2024, slower than most economies.
- Output per person in the Faroe Islands was US$74,175 in 2024, higher than in most countries.
- The Faroe Islands had 55,000 people in 2025: about less than 0.1% of everyone on Earth, the 202nd largest population of 217 countries and territories.
Economic growth
2024Real GDP, change over the year
Since 2009
Show the numbers
| Year | Faroe Islands | World median |
|---|---|---|
| 2024 | 0.8% | 3.4% |
| 2023 | 3.2% | 3.2% |
| 2022 | 3.9% | 4.3% |
| 2021 | 5.1% | 5.1% |
| 2020 | −1.6% | −3.8% |
| 2019 | 4.5% | 2.8% |
| 2018 | 2.8% | 3.2% |
| 2017 | 3.5% | 3.3% |
| 2016 | 1.4% | 3.1% |
| 2015 | 1.0% | 2.9% |
GDP per person
2024GDP divided by population, in US dollars at current prices
Since 2000
Show the numbers
| Year | Faroe Islands | World median |
|---|---|---|
| 2024 | US$74,175 | US$7,853 |
| 2023 | US$72,487 | US$7,862 |
| 2022 | US$67,069 | US$7,656 |
| 2021 | US$69,422 | US$7,269 |
| 2020 | US$62,248 | US$6,433 |
| 2019 | US$63,071 | US$7,037 |
| 2018 | US$62,525 | US$6,978 |
| 2017 | US$59,389 | US$6,548 |
| 2016 | US$56,876 | US$5,982 |
| 2015 | US$52,638 | US$6,148 |
Population
2025Everyone living in the country, mid-year
Since 2000
Show the numbers
| Year | Faroe Islands |
|---|---|
| 2025 | 55,000 |
| 2024 | 55,000 |
| 2023 | 54,000 |
| 2022 | 54,000 |
| 2021 | 53,000 |
| 2020 | 53,000 |
| 2019 | 52,000 |
| 2018 | 51,000 |
| 2017 | 50,000 |
| 2016 | 49,000 |
No recent World Bank figure for the Faroe Islands: inflation, unemployment, government debt, current account balance.
About these figures
All numbers are yearly. The world median is the middle value of all countries with a figure for the same year: half of them are above it and half below. Sparklines show the Faroe Islands since 2000 or since its first figure.
Source: World Bank, World Development Indicators (CC BY 4.0), updated 2026-10-08. Original sources: Economic growth: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; GDP per person: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; Population: United Nations Population Division (World Population Prospects) and national statistical offices. Yearly figures; recent years are often revised. All sources and terms.