Faroe Islands

Economy

• GDP

  : 4.1 B$ (2024)

• GDP per capita

  : 74175 $ (2024)

• GDP growth

  : 0.8 % (2024)

• GDP, PPP

  : 4.5 B$ (2024)

• GDP per capita, PPP

  : 82089 $ (2024)

• Price level (relative cost of living)

  : 0.90 (2024)

• Exports

  : 54.6 % (2024)

• Imports

  : 51.2 % (2024)

• Trade balance (goods and services)

  : 136.2 M$ (2024)

• Current account balance

  : 7.8 % (2011)

• Agriculture

  : 16.1 % (2024)

• Industry

  : 18.3 % (2024)

• Services

  : 53.8 % (2024)

• Remittances received

  : 6.3 % (2011)

Demographics

• Population

  : 54 900 (2025)

• Population growth

  : 0.5 % (2025)

• Net migration

  : 386.0 (2025)

• Population density

  : 39.7 (2023)

• Life expectancy

  : 83.1 yrs (2024)

• Fertility rate

  : 1.91 (2024)

• Birth rate

  : 10.8 (2024)

• Death rate

  : 8.20 (2024)

• Urban population

  : 39.6 % (2025)

• Rural population

  : 60.4 % (2025)

• Infant mortality (under one year)

  : 0.6 % (2023)

• Age dependency ratio

  : 61.0 % (2023)

• Share of women in the population

  : 48.4 % (2025)

Social

• Internet users

  : 97.6 % (2017)

• Mobile subscriptions

  : 105.8 (2022)

• Access to electricity

  : 100.0 % (2024)

• Access to basic drinking water

  : 100.0 % (2024)

Environment

• CO₂ per capita

  : 0.04 (2024)

• Renewable energy

  : 7.9 % (2022)

• Renewable electricity production

  : 38.1 % (2021)

• Forest area

  : 0.1 % (2023)

• Threatened bird species

  : 5.00 (2022)

• Threatened fish species

  : 20.0 (2022)

• Threatened mammal species

  : 4.00 (2022)

• Electricity from coal

  : 0.0 % (2023)

• Electricity from gas

  : 0.0 % (2023)

• Electricity from hydropower

  : 26.5 % (2023)

• Electricity from nuclear

  : 0.0 % (2023)

• Electricity from solar

  : 0.0 % (2023)

• Electricity from wind

  : 18.4 % (2023)

• Fine particulate exposure (PM2.5)

  : 4.00 (2024)

• Forest area (absolute)

  : 0.08 (2020)

Health

• Diabetes prevalence (ages 20-79)

  : 5.3 % (2024)

• Adolescent fertility (ages 15-19)

  : 4.40 (2024)

Consumption

• Household consumption

  : 40.6 % (2024)

• Gross national savings

  : 28.8 % (2011)