GNI (current LCU), annual growth rate in Faroe Islands
Faroe Islands: GNI (current LCU), annual growth rate was 3.85 % change on previous year in 2024. ◆ Volatile
GNI (current LCU), annual growth rate in Faroe Islands, 1961–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, gni (current lcu), annual growth rate in Faroe Islands stood at 3.85 % change on previous year.
Compared with earlier readings it is down 11.9% on the previous year and down 39.2% over ten years.
Over the whole period, gni (current lcu), annual growth rate in Faroe Islands peaked at 27.32 % change on previous year in 1977 and was at its lowest, -5.81 % change on previous year, in 2009.
Faroe Islands ranks 170th of 207 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GNI (current LCU), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1961 | 11.11 % change on previous year | — |
| 1962 | 8.65 % change on previous year | -22.1% |
| 1963 | 19.46 % change on previous year | +124.9% |
| 1964 | 13.65 % change on previous year | -29.8% |
| 1965 | 12.99 % change on previous year | -4.9% |
| 1966 | 11.38 % change on previous year | -12.3% |
| 1967 | 3.66 % change on previous year | -67.8% |
| 1968 | 6.13 % change on previous year | +67.3% |
| 1969 | 6.28 % change on previous year | +2.4% |
| 1970 | 21.64 % change on previous year | +244.8% |
| 1971 | 15.44 % change on previous year | -28.6% |
| 1972 | 13.18 % change on previous year | -14.7% |
| 1973 | 17 % change on previous year | +29.0% |
| 1974 | 24.81 % change on previous year | +46.0% |
| 1975 | 9.42 % change on previous year | -62.0% |
| 1976 | 22.92 % change on previous year | +143.2% |
| 1977 | 27.32 % change on previous year | +19.2% |
| 1978 | 4.75 % change on previous year | -82.6% |
| 1979 | 6.67 % change on previous year | +40.5% |
| 1980 | 18.78 % change on previous year | +181.6% |
| 1981 | 14.27 % change on previous year | -24.0% |
| 1982 | 16.55 % change on previous year | +16.0% |
| 1983 | 20.94 % change on previous year | +26.5% |
| 1984 | 7.08 % change on previous year | -66.2% |
| 1985 | 9.37 % change on previous year | +32.5% |
| 1986 | 11.66 % change on previous year | +24.3% |
| 1987 | 7.94 % change on previous year | -31.8% |
| 1999 | 6.99 % change on previous year | -12.0% |
| 2000 | 9.69 % change on previous year | +38.6% |
| 2001 | 10.66 % change on previous year | +10.0% |
| 2002 | 4.75 % change on previous year | -55.4% |
| 2003 | -1.22 % change on previous year | -125.6% |
| 2004 | 4.6 % change on previous year | -477.8% |
| 2005 | 1.78 % change on previous year | -61.4% |
| 2006 | 13.57 % change on previous year | +664.1% |
| 2007 | 5.71 % change on previous year | -57.9% |
| 2008 | -2.56 % change on previous year | -144.8% |
| 2009 | -5.81 % change on previous year | +127.2% |
| 2010 | 10.42 % change on previous year | -279.4% |
| 2011 | 6.73 % change on previous year | -35.4% |
| 2012 | 4.32 % change on previous year | -35.9% |
| 2013 | 7.73 % change on previous year | +79.0% |
| 2014 | 6.34 % change on previous year | -17.9% |
| 2015 | 4.97 % change on previous year | -21.6% |
| 2016 | 10.37 % change on previous year | +108.6% |
| 2017 | 3.61 % change on previous year | -65.1% |
| 2018 | 1.82 % change on previous year | -49.5% |
| 2019 | 8.21 % change on previous year | +349.9% |
| 2020 | -2.19 % change on previous year | -126.6% |
| 2021 | 9.76 % change on previous year | -546.4% |
| 2022 | 8.96 % change on previous year | -8.2% |
| 2023 | 4.37 % change on previous year | -51.2% |
| 2024 | 3.85 % change on previous year | -11.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 10.37 % change on previous year | 3.66 % change on previous year | 19.46 % change on previous year | 9 |
| 1970s | 16.31 % change on previous year | 4.75 % change on previous year | 27.32 % change on previous year | 10 |
| 1980s | 13.32 % change on previous year | 7.08 % change on previous year | 20.94 % change on previous year | 8 |
| 1990s | 6.99 % change on previous year | 6.99 % change on previous year | 6.99 % change on previous year | 1 |
| 2000s | 4.12 % change on previous year | -5.81 % change on previous year | 13.57 % change on previous year | 10 |
| 2010s | 6.45 % change on previous year | 1.82 % change on previous year | 10.42 % change on previous year | 10 |
| 2020s | 4.95 % change on previous year | -2.19 % change on previous year | 9.76 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 167 Switzerland 4.02 % change on previous year compare
- 168 South Africa 3.99 % change on previous year compare
- 169 Netherlands 3.87 % change on previous year compare
- 171 Singapore 3.67 % change on previous year compare
- 172 French Polynesia 3.65 % change on previous year compare
- 173 Ireland 3.54 % change on previous year compare
More economy & growth data for Faroe Islands
- Gdp per capita worldbank constant usd 59,302 (2024)
- Services, value added 15.04 billion current LCU (2024)
- Services, value added 53.8% (2024)
- Gdp worldbank constant usd, per capita 59,302 units per person (2024)
- Manufacturing value added to gdp, per unit of GDP 0 units per US$ of GDP (2024)
- Manufacturing value added to gdp, per capita 0.0002 units per person (2024)
- External balance on goods and services as a percent of gdp 3.36 (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
- Discrepancy in expenditure estimate of GDP 100,000 current LCU (2024)
- GDP deflator 135.45 base year varies by country (2024)
Frequently asked questions
- What is gni (current lcu), annual growth rate in Faroe Islands?
- Gni (current lcu), annual growth rate in Faroe Islands was 3.85 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gni (current lcu), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 27.32 % change on previous year in 1977.
- What is the lowest gni (current lcu), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -5.81 % change on previous year in 2009.
- How does Faroe Islands rank for gni (current lcu), annual growth rate?
- Faroe Islands ranks 170th out of 207 countries with data for 2024.
- Is gni (current lcu), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 39.2%. 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 GNI (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 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 GNI (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- GNI 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 GNI (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.