Final consumption expenditure (current LCU), annual growth rate in Faroe Islands
Faroe Islands: Final consumption expenditure (current LCU), annual growth rate was 4.23 % change on previous year in 2024. ◆ Volatile
Final consumption expenditure (current LCU), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Faroe Islands recorded 4.23 % change on previous year for final consumption expenditure (current lcu), annual growth rate in 2024.
That represents a change of down 27.7% on the previous year and up 45.4% over ten years.
Over the whole period, final consumption expenditure (current lcu), annual growth rate in Faroe Islands peaked at 12.93 % change on previous year in 2005 and was at its lowest, -2.48 % change on previous year, in 2010.
That places Faroe Islands 148th out of 187 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Final consumption expenditure (current LCU), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 10.62 % change on previous year | — |
| 2000 | 6.53 % change on previous year | -38.4% |
| 2001 | 9.92 % change on previous year | +51.8% |
| 2002 | 6.37 % change on previous year | -35.7% |
| 2003 | 6.06 % change on previous year | -4.9% |
| 2004 | 7.53 % change on previous year | +24.3% |
| 2005 | 12.93 % change on previous year | +71.7% |
| 2006 | 2.03 % change on previous year | -84.3% |
| 2007 | 3.6 % change on previous year | +76.8% |
| 2008 | 2.43 % change on previous year | -32.5% |
| 2009 | 4.49 % change on previous year | +85.1% |
| 2010 | -2.48 % change on previous year | -155.1% |
| 2011 | 3.19 % change on previous year | -229.0% |
| 2012 | 5.82 % change on previous year | +82.3% |
| 2013 | 2.2 % change on previous year | -62.2% |
| 2014 | 2.91 % change on previous year | +32.3% |
| 2015 | 2.68 % change on previous year | -7.8% |
| 2016 | 6.61 % change on previous year | +146.4% |
| 2017 | 0.6885 % change on previous year | -89.6% |
| 2018 | 3.02 % change on previous year | +338.0% |
| 2019 | 5.08 % change on previous year | +68.6% |
| 2020 | 3.4 % change on previous year | -33.1% |
| 2021 | 5.02 % change on previous year | +47.6% |
| 2022 | 5.52 % change on previous year | +9.8% |
| 2023 | 5.85 % change on previous year | +6.0% |
| 2024 | 4.23 % change on previous year | -27.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.62 % change on previous year | 10.62 % change on previous year | 10.62 % change on previous year | 1 |
| 2000s | 6.19 % change on previous year | 2.03 % change on previous year | 12.93 % change on previous year | 10 |
| 2010s | 2.97 % change on previous year | -2.48 % change on previous year | 6.61 % change on previous year | 10 |
| 2020s | 4.8 % change on previous year | 3.4 % change on previous year | 5.85 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 145 Bahamas 4.63 % change on previous year compare
- 146 Germany 4.62 % change on previous year compare
- 147 Marshall Islands 4.54 % change on previous year compare
- 149 Belgium 4.16 % change on previous year compare
- 150 Bhutan 4.15 % change on previous year compare
- 151 Cyprus 4.1 % change on previous year compare
More economy & growth data for Faroe Islands
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual -6.93 % change on previous year (2024)
Frequently asked questions
- What is final consumption expenditure (current lcu), annual growth rate in Faroe Islands?
- Final consumption expenditure (current lcu), annual growth rate in Faroe Islands was 4.23 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest final consumption expenditure (current lcu), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 12.93 % change on previous year in 2005.
- What is the lowest final consumption expenditure (current lcu), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -2.48 % change on previous year in 2010.
- How does Faroe Islands rank for final consumption expenditure (current lcu), annual growth rate?
- Faroe Islands ranks 148th out of 187 countries with data for 2024.
- Is final consumption expenditure (current lcu), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is up 45.4%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Final consumption expenditure (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
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How this figure is calculated
The year-on-year percentage change in Final consumption expenditure (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Final consumption expenditure Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Final consumption expenditure (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.