Gross capital formation in Faroe Islands
Faroe Islands: Gross capital formation was 7.87 billion current LCU in 2024. β² Rising
Gross capital formation in Faroe Islands, 1998β2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2024, gross capital formation in Faroe Islands stood at 7.87 billion current LCU.
That represents a change of down 7.7% on the previous year and up 121.2% over ten years.
Over the whole period, gross capital formation in Faroe Islands peaked at 8.52 billion current LCU in 2023 and was at its lowest, 1.64 billion current LCU, in 1998.
Faroe Islands ranks 155th of 186 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.75 billion current LCU | 1.64 billion current LCU | 1.86 billion current LCU | 2 |
| 2000s | 2.81 billion current LCU | 2.09 billion current LCU | 4.09 billion current LCU | 10 |
| 2010s | 4.02 billion current LCU | 2.19 billion current LCU | 6.02 billion current LCU | 10 |
| 2020s | 7.49 billion current LCU | 6.05 billion current LCU | 8.52 billion current LCU | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Inflation, GDP deflator 2.0% (2024)
- Services, value added 15.04 billion current LCU (2024)
- Services, value added 53.8% (2024)
- External balance on goods and services as a percent of gdp 3.36 (2024)
- Gdp per capita worldbank constant usd 59,302 (2024)
- Manufacturing value added to gdp 9.46 (2024)
- Gdp worldbank constant usd 3.24 billion (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
- GDP 4.05 billion current US$ (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
Frequently asked questions
- What is gross capital formation in Faroe Islands?
- Gross capital formation in Faroe Islands was 7.87 billion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross capital formation recorded in Faroe Islands?
- The highest recorded value was 8.52 billion current LCU in 2023.
- What is the lowest gross capital formation recorded in Faroe Islands?
- The lowest recorded value was 1.64 billion current LCU in 1998.
- How does Faroe Islands rank for gross capital formation?
- Faroe Islands ranks 155th out of 186 countries with data for 2024.
- Is gross capital formation rising or falling in Faroe Islands?
- Over the last ten years it is up 121.2%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross capital formation (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV Β· JSON β 27 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.