Faroe Islands - GDP
GDP (current US$)
The latest value for GDP (current US$) in Faroe Islands was $3,126,293,000 as of 2019. Over the past 21 years, the value for this indicator has fluctuated between $3,126,293,000 in 2019 and $1,058,703,000 in 2000.
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | $1,107,883,000 |
| 1999 | $1,120,280,000 |
| 2000 | $1,058,703,000 |
| 2001 | $1,147,655,000 |
| 2002 | $1,262,670,000 |
| 2003 | $1,494,012,000 |
| 2004 | $1,688,238,000 |
| 2005 | $1,727,793,000 |
| 2006 | $1,984,445,000 |
| 2007 | $2,290,134,000 |
| 2008 | $2,432,416,000 |
| 2009 | $2,268,388,000 |
| 2010 | $2,320,425,000 |
| 2011 | $2,490,808,000 |
| 2012 | $2,366,301,000 |
| 2013 | $2,627,050,000 |
| 2014 | $2,850,744,000 |
| 2015 | $2,518,096,000 |
| 2016 | $2,738,833,000 |
| 2017 | $2,899,226,000 |
| 2018 | $3,051,341,000 |
| 2019 | $3,126,293,000 |
GDP (current LCU)
The value for GDP (current LCU) in Faroe Islands was 20,850,500,000 as of 2019. As the graph below shows, over the past 21 years this indicator reached a maximum value of 20,850,500,000 in 2019 and a minimum value of 7,423,700,000 in 1998.
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1998 | 7,423,700,000 |
| 1999 | 7,815,300,000 |
| 2000 | 8,557,600,000 |
| 2001 | 9,551,700,000 |
| 2002 | 9,968,400,000 |
| 2003 | 9,842,100,000 |
| 2004 | 10,114,400,000 |
| 2005 | 10,361,400,000 |
| 2006 | 11,801,100,000 |
| 2007 | 12,466,800,000 |
| 2008 | 12,400,700,000 |
| 2009 | 12,160,600,000 |
| 2010 | 13,050,300,000 |
| 2011 | 13,372,400,000 |
| 2012 | 13,706,800,000 |
| 2013 | 14,754,300,000 |
| 2014 | 15,999,800,000 |
| 2015 | 16,941,500,000 |
| 2016 | 18,437,000,000 |
| 2017 | 19,143,300,000 |
| 2018 | 19,268,000,000 |
| 2019 | 20,850,500,000 |
GDP (constant 2010 US$)
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2010 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 2010 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 2015 | 2,518,096,000 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
