Faroe Islands GDP from Agriculture
Agriculture, forestry and fishing value added as a share of GDP.
GDP from Agriculture in Faroe Islands decreased to 16.07 percent of GDP in 2024 from 17.76 percent of GDP in 2023.
Faroe Islands GDP from Agriculture — History
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Faroe Islands GDP from Agriculture — analysis in simple words
Latest reading
GDP from Agriculture in Faroe Islands decreased to 16.07 percent of GDP in 2024 from 17.76 percent of GDP in 2023.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2023) it was 17.8%, so the latest figure is 1.7 percentage points lower.
Over the past five years the average was 16.1%, with a range from 13.7% to 18.7%. The latest value is below that five-year average.
Historical context
This data series starts in 1998 and has 27 annual observations. The latest reading is higher than 59% of all of them.
The highest value on record is 19.4% (2016) and the lowest is 9.5% (2008). The long-run average is 15.0%.
Compared with other countries
Among 199 economies with recent data, Faroe Islands ranks 51st from the top. The median across all these economies is 6.0%, so Faroe Islands is above the typical country.
Within Europe & Central Asia (56 economies with data) it ranks 4th; the regional median is 2.6%.
Statistics
- Latest
- 16.1%2024
- Previous
- 17.8%
- 5-year average
- 16.1%
- Long-run average
- 15.0%since 1998
- All-time high
- 19.4%2016
- All-time low
- 9.5%2008
- Observations
- 27Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | 16.1% | ▼ −1.7 pp |
| 2023 | 17.8% | ▼ −1.0 pp |
| 2022 | 18.7% | ▲ +4.5 pp |
| 2021 | 14.2% | ▲ +0.5 pp |
| 2020 | 13.7% | ▼ −3.3 pp |
| 2019 | 17.1% | ▲ +0.7 pp |
| 2018 | 16.3% | ▼ −1.7 pp |
| 2017 | 18.0% | ▼ −1.4 pp |
| 2016 | 19.4% | ▲ +3.7 pp |
| 2015 | 15.7% | ▲ +0.7 pp |
| 2014 | 15.0% | ▲ +0.2 pp |
| 2013 | 14.8% | ▲ +2.6 pp |
| 2012 | 12.2% | ▼ −2.2 pp |
| 2011 | 14.4% | ▼ −0.4 pp |
| 2010 | 14.8% | ▲ +4.8 pp |
| 2009 | 10.0% | ▲ +0.5 pp |
| 2008 | 9.5% | ▼ −2.9 pp |
| 2007 | 12.4% | ▼ −1.4 pp |
| 2006 | 13.8% | ▲ +2.2 pp |
| 2005 | 11.5% | ▼ −0.3 pp |
| 2004 | 11.9% | ▼ −0.1 pp |
| 2003 | 12.0% | ▼ −3.4 pp |
| 2002 | 15.4% | ▼ −2.5 pp |
| 2001 | 18.0% | ▼ −0.0 pp |
| 2000 | 18.0% | ▲ +1.9 pp |
| 1999 | 16.1% | ▼ −1.8 pp |
| 1998 | 17.9% |
GDP from Agriculture — Faroe Islands vs Peers
Latest available reading for each economy (periods may differ). Faroe Islands highlighted.
More Faroe Islands indicators
Understanding GDP from Agriculture — a simple guide
What it measures
Value added by agriculture, forestry and fishing as a share of GDP.
How it is calculated
Value added by farming, forestry and fishing ÷ GDP × 100.
A share of 16% means about one-sixth of the economy’s output comes from agriculture.
A high share means the economy depends more on monsoon, weather and crop prices.
A low share is typical of industrialised, service-based economies.
Why it matters for the economy and markets
The share indicates the economy’s structure; it typically falls as countries develop.
How to read it
A high share means output and incomes are more exposed to weather and commodity prices.
Data source
World Bank — World Development Indicators (series NV.AGR.TOTL.ZS), annual data from 1998 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current gdp from agriculture of Faroe Islands?
What is the highest and lowest gdp from agriculture of Faroe Islands?
What does gdp from agriculture measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.