GDP deflator (base year varies by country), annual growth rate in Faroe Islands
Faroe Islands: GDP deflator (base year varies by country), annual growth rate was 2 % change on previous year in 2024. ◆ Volatile
GDP deflator (base year varies by country), annual growth rate in Faroe Islands, 2009–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, gdp deflator (base year varies by country), annual growth rate in Faroe Islands stood at 2 % change on previous year.
That represents a change of down 32.2% on the previous year and down 25.3% over ten years.
Over the whole period, gdp deflator (base year varies by country), annual growth rate in Faroe Islands peaked at 7.87 % change on previous year in 2016 and was at its lowest, -2.4 % change on previous year, in 2012.
That places Faroe Islands 152nd out of 212 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP deflator (base year varies by country), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 2009 | 1.59 % change on previous year | — |
| 2010 | 6.95 % change on previous year | +335.8% |
| 2011 | -0.952 % change on previous year | -113.7% |
| 2012 | -2.4 % change on previous year | +152.1% |
| 2013 | 1.52 % change on previous year | -163.2% |
| 2014 | 2.67 % change on previous year | +76.2% |
| 2015 | 4.88 % change on previous year | +82.6% |
| 2016 | 7.87 % change on previous year | +61.2% |
| 2017 | 0.3755 % change on previous year | -95.2% |
| 2018 | -0.4256 % change on previous year | -213.4% |
| 2019 | 3.5 % change on previous year | -922.4% |
| 2020 | -0.1119 % change on previous year | -103.2% |
| 2021 | 3.43 % change on previous year | -3160.2% |
| 2022 | 5.9 % change on previous year | +72.1% |
| 2023 | 2.94 % change on previous year | -50.1% |
| 2024 | 2 % change on previous year | -32.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 2 % change on previous year is below the median for high income countries, which is 2.62 % change on previous year, 76% of the median. (82 countries reporting)
- Faroe Islands's 2 % change on previous year is below the median for Europe & Central Asia, which is 3.48 % change on previous year, 57% of the median. (56 countries reporting)
Biggest year-on-year movements
Years where GDP deflator (base year varies by country), annual growth rate in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2021 | +3160.2% | -0.1119 % change on previous year | 3.43 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.59 % change on previous year | 1.59 % change on previous year | 1.59 % change on previous year | 1 |
| 2010s | 2.4 % change on previous year | -2.4 % change on previous year | 7.87 % change on previous year | 10 |
| 2020s | 2.83 % change on previous year | -0.1119 % change on previous year | 5.9 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 149 Morocco 2.1 % change on previous year compare
- 150 Israel 2.09 % change on previous year compare
- 151 Fiji 2 % change on previous year compare
- 153 Italy 1.99 % change on previous year compare
- 154 Trinidad and Tobago 1.99 % change on previous year compare
- 155 Dominica 1.96 % change on previous year compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is gdp deflator (base year varies by country), annual growth rate in Faroe Islands?
- Gdp deflator (base year varies by country), annual growth rate in Faroe Islands was 2 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gdp deflator (base year varies by country), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 7.87 % change on previous year in 2016.
- What is the lowest gdp deflator (base year varies by country), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -2.4 % change on previous year in 2012.
- How does Faroe Islands rank for gdp deflator (base year varies by country), annual growth rate?
- Faroe Islands ranks 152nd out of 212 countries with data for 2024.
- Is gdp deflator (base year varies by country), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 25.3%. 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 GDP deflator (base year varies by country), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 16 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in GDP deflator (base year varies by country). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- GDP deflator 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 GDP deflator (base year varies by country). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.