Faroe Islands 2021
Detailed economic analysis and indicators for 2021
Key Economic Indicators (2021)
GDP (Current USD)
$3.66 billion
↑ 12.01% vs 2020GDP per Capita
$68,736.51
↑ 10.44% vs 2020GDP Growth (Annual %)
5.50%
↑ 7.14pp vs 2020Inflation Rate (CPI %)
N/A
Year-over-Year Comparison
| Indicator | 2020 | 2021 | Change |
|---|---|---|---|
| GDP (Current USD) | $3.27 billion | $3.66 billion | +12.01% |
| GDP per Capita | $62,236.09 | $68,736.51 | +10.44% |
| GDP Growth (Annual %) | -1.64% | 5.50% | +7.14pp |
| Inflation (CPI %) | N/A | N/A | N/A |
All Economic Indicators (2021)
National Accounts
- GDP (Current USD)
- $3.66 billion
- GDP per Capita
- $68,736.51
- GDP Growth (Annual %)
- 5.50%
- Gross National Income
- $3.79 billion
Prices & Employment
- Inflation (CPI %)
- N/A
- Inflation (GDP Deflator %)
- 2.03%
- Unemployment Rate (%)
- N/A
- Interest Rate (Real %)
- N/A
Trade & Investment
- Exports (Goods & Services)
- N/A
- Imports (Goods & Services)
- N/A
- FDI Inflow
- N/A
- FDI Outflow
- N/A
Balance & Debt
- Current Account Balance (% GDP)
- N/A
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2021, Faroe Islands's Gross Domestic Product (GDP) is $3.66 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Faroe Islands for 2021 is $68,736.51. GDP per capita is calculated by dividing the country's GDP by its population.
Faroe Islands's annual GDP growth rate for 2021 is 5.50%. This indicates the rate at which the country's economy is expanding or contracting.