EUROPE · COUNTRY REFERENCE
Faroe Islands
Written and compiled by American Business Capital Group Inc.
Selected country or entityMap: Natural Earth ↗
ANNUAL ECONOMIC SNAPSHOT
Population & economic scale
The most recent non-empty observations returned by the World Bank when this snapshot was collected. Read the year on each card: these are annual statistics, not live measurements.
World Bank reporting entity: Faroe Islands · 3 of 3 indicators available.
Population
54,900
people
observation
Definition, value & source
Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. The values shown are midyear estimates.
Received value: 54900 people. The main card rounds for readability.
- Collected
- Oct 7, 2026
- Dataset update reported by API
- Jul 13, 2026; separate from the observation year
World Bank indicator ↗ · API record ↗
World Bank, World Development Indicators. CC BY 4.0. Underlying sources: World Population Prospects, United Nations (UN), uri: https://population.un.org/wpp/, publisher: UN Population Division; Statistical databases and publications from national statistical offices, National Statistical Offices (NSOs), uri: https://unstats.un.org/home/nso_sites/, publisher: National Statistical Offices; Eurostat: Demographic Statistics, Eurostat (ESTAT), uri: https://ec.europa.eu/eurostat/data/database?node_code=earn_ses_monthly, publisher: Eurostat; Population and Vital Statistics Report (various years), United Nations (UN), uri: https://unstats.un.org, publisher: UN Statistics Division
GDP
$4.05 billion
current US$
observation
Definition, value & source
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Received value: 4052937169.76536 current US$. The main card rounds for readability.
- Collected
- Oct 7, 2026
- Dataset update reported by API
- Jul 13, 2026; separate from the observation year
World Bank indicator ↗ · API record ↗
World Bank, World Development Indicators. CC BY 4.0. Underlying sources: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB)
GDP per capita
$74,175
current US$ per person
observation
Definition, value & source
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate.This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Received value: 74175.2776311377 current US$ per person. The main card rounds for readability.
- Collected
- Oct 7, 2026
- Dataset update reported by API
- Jul 13, 2026; separate from the observation year
World Bank indicator ↗ · API record ↗
World Bank, World Development Indicators. CC BY 4.0. Underlying sources: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB)
GDP and GDP per capita use current US dollars, without an inflation or purchasing-power-parity adjustment. Source years can differ. Missing data is not zero; earlier archive figures below are retained as a separate historical reference.
THE REFERENCE FILE
Faroe Islands at a glance
These are historical reference facts from the 2025 World Factbook archive. Each estimate keeps its own period; an archive edition does not make every figure a measurement from that year.
Government type
parliamentary democracy (Faroese Parliament); part of the Kingdom of Denmark
Population
total: 52,933 (2024 est.) male: 27,400 female: 25,533
Area
total : 1,393 sq km land: 1,393 sq km water: 0 sq km (some lakes and streams)
Real GDP (purchasing power parity)
$3.834 billion (2023 est.) $3.741 billion (2022 est.) $3.613 billion (2021 est.) note: data in 2021 dollars
GDP (official exchange rate)
$3.907 billion (2023 est.) note: data in current dollars at official exchange rate
Real GDP growth rate
2.5% (2023 est.) 3.6% (2022 est.) 5.5% (2021 est.) note: annual GDP % growth based on constant local currency
Real GDP per capita
$70,400 (2023 est.) $69,400 (2022 est.) $67,800 (2021 est.) note: data in 2021 dollars
Exports
$2.255 billion (2023 est.) $2.219 billion (2022 est.) $1.923 billion (2021 est.) note: GDP expenditure basis - exports of goods and services in current dollars
Imports
$2.212 billion (2023 est.) $2.223 billion (2022 est.) $1.906 billion (2021 est.) note: GDP expenditure basis - imports of goods and services in current dollars
Electricity access
electrification - total population: 100% (2022 est.) electrification - urban areas: 99.9% electrification - rural areas: 100%
Internet users
percent of population: 98% (2017 est.)
THE HISTORICAL REFERENCE LIBRARY
Explore the country in detail
Browse the economy, population, resources and infrastructure. These archived descriptions keep their original wording and dates; they have not been updated to describe current conditions.
29 of 29 sections
Location
Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about halfway between Iceland and Norway
archive edition 2025 · Archive source ↗
Capital
name: Torshavn geographic coordinates: 62 00 N, 6 46 W time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October etymology: the name means "Thor's harbor" in Danish
archive edition 2025 · Archive source ↗
Economic overview
high-income Danish territorial economy; party neither to the EU nor the Schengen Area; associate Nordic Council member; very low unemployment; unique foreign ownership allowance in fishing industry; known salmon exporter; growing IT industries
archive edition 2025 · Archive source ↗
Natural resources
fish, whales, hydropower, possible oil and gas
archive edition 2025 · Archive source ↗
Agricultural products
milk, potatoes, lamb/mutton, sheepskins, sheep offal, beef, sheep fat, beef offal, cattle hides, beef suet (2023) note: top ten agricultural products based on tonnage
2023 source periods; archive edition 2025 · Archive source ↗
Industries
fishing, fish processing, tourism, small ship repair and refurbishment, handicrafts
archive edition 2025 · Archive source ↗
Exports - partners
Russia 26.4%, UK 14.1%, Germany 8.4%, China 7.9%, Spain 6.8%, Denmark 6.2%, US 4.7%, Poland 4.4%, Norway 4.1% (2017)
2017 source periods; archive edition 2025 · Archive source ↗
Exports - commodities
fish and fish products (2021)
2021 source periods; archive edition 2025 · Archive source ↗
Imports - partners
Denmark 33%, China 10.7%, Germany 7.6%, Poland 6.8%, Norway 6.7%, Ireland 5%, Chile 4.3% (2017)
2017 source periods; archive edition 2025 · Archive source ↗
Imports - commodities
goods for household consumption, machinery and transport equipment, fuels, raw materials and semi-manufactures, cars
archive edition 2025 · Archive source ↗
Climate
mild winters, cool summers; usually overcast; foggy, windy
archive edition 2025 · Archive source ↗
Terrain
rugged, rocky, some low peaks; cliffs along most of coast
archive edition 2025 · Archive source ↗
Land use
agricultural land: 70.1% (2023 est.) arable land: 0.1% (2023 est.) permanent crops: 0% (2022 est.) permanent pasture: 70.1% (2023 est.) forest: 0.1% (2023 est.) other: 29.8% (2023 est.)
2023, 2022 dates in source text; archive edition 2025 · Archive source ↗
Natural hazards
strong winds and heavy rains can occur throughout the year
archive edition 2025 · Archive source ↗
Languages
Faroese 93.8% (derived from Old Norse), Danish 3.2%, other 3% (2011 est.) note: data represent population by primary language
2011 dates in source text; archive edition 2025 · Archive source ↗
Religions
Christian 87% (predominantly Evangelical Lutheran), other 0.9%, none 3.7%, unspecified 8.9% (2011 est.)
2011 dates in source text; archive edition 2025 · Archive source ↗
Age structure
0-14 years: 20% (male 5,489/female 5,122) 15-64 years: 61.5% (male 17,188/female 15,346) 65 years and over: 18.5% (2024 est.) (male 4,723/female 5,065)
2024 dates in source text; archive edition 2025 · Archive source ↗
Urbanization
urban population: 43% of total population (2023) rate of urbanization: 0.89% annual rate of change (2020-25 est.)
2023, 2020 dates in source text; archive edition 2025 · Archive source ↗
Life expectancy at birth
total population: 81.7 years (2024 est.) male: 79.2 years female: 84.4 years
2024 dates in source text; archive edition 2025 · Archive source ↗
Electricity
installed generating capacity: 180,000 kW (2023 est.) consumption: 463.285 million kWh (2023 est.) transmission/distribution losses: 25.115 million kWh (2023 est.)
2023 dates in source text; archive edition 2025 · Archive source ↗
Electricity generation sources
fossil fuels: 53.7% of total installed capacity (2023 est.) wind: 18.4% of total installed capacity (2023 est.) hydroelectricity: 26.8% of total installed capacity (2023 est.) biomass and waste: 1% of total installed capacity (2023 est.)
2023 dates in source text; archive edition 2025 · Archive source ↗
Petroleum
refined petroleum consumption: 5,000 bbl/day (2023 est.)
2023 dates in source text; archive edition 2025 · Archive source ↗
Carbon dioxide emissions
742,000 metric tonnes of CO2 (2023 est.) from petroleum and other liquids: 742,000 metric tonnes of CO2 (2023 est.)
2023 dates in source text; archive edition 2025 · Archive source ↗
Telephones - mobile cellular
total subscriptions: 57,146 (2022 est.) subscriptions per 100 inhabitants: 106 (2022 est.)
2022 dates in source text; archive edition 2025 · Archive source ↗
Broadband - fixed subscriptions
total: 19,000 (2022 est.) subscriptions per 100 inhabitants: 35 (2022 est.)
2022 dates in source text; archive edition 2025 · Archive source ↗
Airports
1 (2025)
2025 dates in source text; archive edition 2025 · Archive source ↗
Ports
total ports: 9 (2024) large: 0 medium: 0 small: 0 very small: 9 ports with oil terminals: 5 key ports: Fuglafjordur, Klaksvik, Kongshavn, Runavik, Sorvagur, Torshavn, Tvoroyri, Vagur, Vestmanna
2024 dates in source text; archive edition 2025 · Archive source ↗
GDP - composition, by sector of origin
agriculture: 18.2% (2023 est.) industry: 19.7% (2023 est.) services: 52% (2023 est.) note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
2023 dates in source text; archive edition 2025 · Archive source ↗
Remittances
4.1% of GDP (2023 est.) 4.4% of GDP (2022 est.) 4.3% of GDP (2021 est.) note: personal transfers and compensation between resident and non-resident individuals/households/entities
2023, 2022, 2021 dates in source text; archive edition 2025 · Archive source ↗
CURRENCY OBSERVATIONS
Money & exchange rates
The latest verified daily references are separate from the historical country profile. Values are currency units per US$1.
Danish Krone
DKK per US$1
Published reference snapshot; its original observation date is preserved.
1 DKK = US$0.1502065
6.4249–6.6594 DKK per US$1 across the displayed observations. The vertical scale follows this range.
View dated observations
| Observation date | DKK per US$1 |
|---|---|
| Oct 6, 2026 | 6.6575 |
| Oct 5, 2026 | 6.6594 |
| Oct 4, 2026 | 6.6412 |
| Oct 3, 2026 | 6.6378 |
| Oct 2, 2026 | 6.6324 |
| Oct 1, 2026 | 6.6053 |
| Sep 30, 2026 | 6.5861 |
| Sep 29, 2026 | 6.5796 |
| Sep 28, 2026 | 6.5634 |
| Sep 27, 2026 | 6.5613 |
| Sep 26, 2026 | 6.5624 |
| Sep 25, 2026 | 6.5641 |
| Sep 24, 2026 | 6.5623 |
| Sep 23, 2026 | 6.5397 |
| Sep 22, 2026 | 6.5191 |
| Sep 21, 2026 | 6.5119 |
| Sep 20, 2026 | 6.5141 |
| Sep 19, 2026 | 6.5142 |
| Sep 18, 2026 | 6.5126 |
| Sep 17, 2026 | 6.5009 |
| Sep 16, 2026 | 6.4777 |
| Sep 15, 2026 | 6.4758 |
| Sep 14, 2026 | 6.4613 |
| Sep 13, 2026 | 6.4399 |
| Sep 12, 2026 | 6.4383 |
| Sep 11, 2026 | 6.4361 |
| Sep 10, 2026 | 6.4269 |
| Sep 9, 2026 | 6.4249 |
| Sep 8, 2026 | 6.4321 |
| Sep 7, 2026 | 6.4323 |
Daily references are not live execution prices. A check time does not change a source observation date.
CAPITAL MARKETS
Stock exchanges
No venue from our curated stock exchange directory is listed for this entity.
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Official data & country reports
Research directories have their own coverage. A link is not a claim that every entity has an IMF report or a separate national statistical office.
SOURCES & DATES
Where the facts come from.
Editorial presentation by American Business Capital Group Inc. The organizations and archive links below are the underlying sources.
- Country reference
- CIA World Factbook · 2025 archive
- Archive retrieved
- Oct 6, 2026 · retrieval date, not an observation period
- Currency associations
- SIX / ISO 4217 currency registry ↗
- Rate observations
- Frankfurter / official reference providers ↗ · each observation is dated separately
- State classification
- UN member states ↗ · UN observer states ↗
- UN membership is shown separately from territory and currency coverage; inclusion is not a position on sovereignty or boundaries.
- CIA World Factbook text preserved by World Factbook Archive. Archive edition 2025; individual estimates retain their own dates. These are historical reference facts, not current observations.
About the editions. The CIA announced the end of its online World Factbook on February 4, 2026. Our historical profiles retain the archive editions shown above.
Skyhorse lists The CIA World Factbook 2026–2027, published April 7, 2026 (ISBN 9781510786042). That book’s full text has not been incorporated here; its edition title does not redate the imported archive. Archive distribution license.
Geography is a simplified reference. Displayed boundaries and entity inclusion do not express a position on sovereignty or disputed borders.