Faroe Islands
Everything Palanor holds about Faroe Islands, in one place: 10 public signals, what its economy runs on, how often America’s largest companies name it, the news that names it, and Country Posture. Every figure is computed from stored readings and carries its source and date.
Europe
The latest read
- GDP in current U.S. dollars: $4.05 billion (2024); record high since 1990; 1y +2.8%.
- Household consumption, share of GDP: 40.6% of GDP (2024); 6th percentile since 1998; 1y +0.01 pts.
- Net exports, share of GDP: 3.36% of GDP (2024); 76th percentile since 1990; highest since 2017; 1y +2.31 pts.
Country Posture
What Faroe Islands’s economy is doing
Momentum
2024Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.590 below 0.60; AUC 0.590 below the single-input baseline (0.624); 2010–2022: AUC 0.595 below 0.60; AUC 0.595 below the single-input baseline (0.641).
Inputs
| Real GDP growth | 0.8 |
| Growth against its three-year average | -3.2 |
| Change in unemployment | — |
| Change in the employment rate | — |
| Export volume growth | 0.2 |
| OECD leading indicator | — |
Resilience
2012Withheld: 1 of 5 core inputs reported for 2012.
Inputs
| Interest as a share of revenue | — |
| Budget balance | — |
| Reserves, months of imports | — |
| Current account (2011) | 7.8 |
| Governance (WGI mean) | — |
| External debt | — |
Pressure
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.657 below the single-input baseline (0.672).
Inputs
| Inflation | — |
| Change in inflation | — |
| Currency move against the dollar | -4.0% |
| Conflict deaths per million | 0.0 |
| Political stability | — |
| Private credit, three-year change | — |
| Bond spread over U.S. Treasuries | — |
Posture describes what an economy is doing; it is not a rating and never ranks countries. Each input is read against the country’s own history and against every other economy that year. An axis shows a score only after passing a back-test fixed before any result was computed. Method and back-test.
GDP by expenditure
What Faroe Islands’s economy runs on
In 2024, household spending was 40.6% of GDP, government consumption 27.9%, investment 28.2% and net exports +3.4% (exports 54.6%, imports 51.2%).
World Bank national accounts. The parts can miss 100 by a few points (the statistical discrepancy).
Same World Bank definition for every country, so the shares compare directly: What each economy runs on.
Signals
Every series about Faroe Islands
Grouped by theme, the most-read first. All 10 in the Library.
Growth and output1
- Faroe Islands · GDP · USD bn (current)record high since 1990; 1y +2.8%$4.05bn2024
Migration1 of 3
- U.S.-Born People Living in the Faroe Islands (UN)record high since 199054 people2024
Peers
Elsewhere in Europe
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