Faroese households increased card payments last year

Faroese households used payment cards more frequently in 2025 than in the previous year, according to a new report from the Faroese Statistics Bureau (Hagstovurin), as cited by public broadcaster Kringvarp Føroya.

The trend suggests that consumer confidence has not declined, the bureau stated. While overall economic optimism remained unchanged, factors such as wage increases, tax reductions, lower interest rates, and inflation contributed to higher private consumption.

A separate loan survey by the National Bank of the Faroe Islands (Landsbanki Føroya) indicated that financial institutions observed improved household finances, as lower interest rates have increased disposable income.