Faroese wages reach 14 billion krona in past year

Taxed wages in the Faroe Islands totalled 14 billion krona from June 2025 to May 2026, an increase of nearly 1.88 billion krona—or 6.7 percent—over the previous 12-month period, according to the Faroese statistics agency Hagstova.

Fishing and aquaculture accounted for more than a third of the growth, driven by a near 50 percent rise in wages in the demersal fishing sector.

Men working for private-sector employers saw the largest increase, contributing over half of the total growth with 540 million krona, a 9 percent rise. Women in the public sector followed, with wages up by 144 million krona.

Hagstova defines the public sector as general government and services, excluding financial and non-financial corporations, households, and non-profit institutions. The private sector includes financial and non-financial corporations, households, and non-profit institutions under domestic or foreign control.