MercoPress. South Atlantic News Agency

Falklands: Gross National Income per capita £58,749 in 2024, FIG National Accounts

In 2024, the GNP grew by 2.7% in nominal terms to £288 million, while the GDP in real terms rose by 3.6% to £175 million.

The Falkland Islands Government Policy Department has announced the publication of the Falkland Islands National Accounts for the years 2014 to 2024.

In 2024, the Gross National Product for the Falkland Islands grew by 2.7% in nominal terms to £288 million, while the GDP in real terms rose by 3.6% to £175 million. Fishing and aquaculture remained the dominant sector, contributing £168 million or 58.3% of GDP.

GDP per capita reached £85,060, with Gross National Income per capita increasing to £58,749, reflecting the positive evolution of the economic landscape.

It is important to note that National Accounts for the Falkland Islands are only notionally prepared on a calendar year basis. However, company accounting periods often run to 31 March or 30 June, similar to Government accounts. The resolution to this issue has been to use figures for each entity for an accounting period ending in the national accounts year in question. This presents difficulties for the interpretation of National Accounts where there are significant changes in performance by entities between accounting periods, and those periods do not map to calendar years.

In the case of 2024 National Accounts aggregates, the impact of the non-existent second loligo season is not reflected in the figure for the year, but will be reflected in the 2025 figures to be published next year.

The full report is available online at www.falklands.gov.fk/policy/statistics/national-accounts