The Faroe Islands have a strong and stable economy, with a GDP of $2.7 billion in 2019. This is a significant increase from the $2.3 billion GDP in 2018. The Faroe Islands have a low unemployment rate of 2.2%, and the average salary is around $50,000 per year. The Faroe Islands have a strong fishing industry, which accounts for around 90% of their exports. The Faroe Islands also have a thriving tourism industry, with over 200,000 visitors in 2019. The Faroe Islands have a strong banking sector, with the Faroese Bank being the largest financial institution in the country. The Faroe Islands also have a strong renewable energy sector, with wind and hydroelectric power accounting for around 40% of their energy production. Overall, the Faroe Islands have a strong and stable economy, with a GDP growth rate of around 3.5% in 2019.