Gross capital formation (current US$), per unit of GDP (unit GDP US) in Faroe Islands
Faroe Islands: Gross capital formation (current US$), per unit of GDP (unit GDP US) was 0.2817 current US$ per US$ of GDP in 2024. ▲ Rising
Gross capital formation (current US$), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
In 2024, gross capital formation (current us$), per unit of gdp in Faroe Islands stood at 0.2817 current US$ per US$ of GDP.
That represents a change of down 10.2% on the previous year and up 29.5% over ten years.
Over the whole period, gross capital formation (current us$), per unit of gdp in Faroe Islands peaked at 0.3232 current US$ per US$ of GDP in 2022 and was at its lowest, 0.1626 current US$ per US$ of GDP, in 2011.
Faroe Islands ranks 49th of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 27 years of available data.
Gross capital formation (current US$), per unit of GDP (unit GDP US) in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.2212 current US$ per US$ of GDP | — |
| 1999 | 0.2366 current US$ per US$ of GDP | +7.0% |
| 2000 | 0.3082 current US$ per US$ of GDP | +30.2% |
| 2001 | 0.2612 current US$ per US$ of GDP | -15.2% |
| 2002 | 0.2329 current US$ per US$ of GDP | -10.8% |
| 2003 | 0.3141 current US$ per US$ of GDP | +34.8% |
| 2004 | 0.2023 current US$ per US$ of GDP | -35.6% |
| 2005 | 0.2202 current US$ per US$ of GDP | +8.8% |
| 2006 | 0.2867 current US$ per US$ of GDP | +30.2% |
| 2007 | 0.3215 current US$ per US$ of GDP | +12.1% |
| 2008 | 0.2617 current US$ per US$ of GDP | -18.6% |
| 2009 | 0.1754 current US$ per US$ of GDP | -33.0% |
| 2010 | 0.1952 current US$ per US$ of GDP | +11.3% |
| 2011 | 0.1626 current US$ per US$ of GDP | -16.7% |
| 2012 | 0.2626 current US$ per US$ of GDP | +61.5% |
| 2013 | 0.216 current US$ per US$ of GDP | -17.8% |
| 2014 | 0.2176 current US$ per US$ of GDP | +0.8% |
| 2015 | 0.2397 current US$ per US$ of GDP | +10.2% |
| 2016 | 0.2216 current US$ per US$ of GDP | -7.5% |
| 2017 | 0.2346 current US$ per US$ of GDP | +5.8% |
| 2018 | 0.2971 current US$ per US$ of GDP | +26.6% |
| 2019 | 0.2761 current US$ per US$ of GDP | -7.1% |
| 2020 | 0.2826 current US$ per US$ of GDP | +2.3% |
| 2021 | 0.2887 current US$ per US$ of GDP | +2.2% |
| 2022 | 0.3232 current US$ per US$ of GDP | +12.0% |
| 2023 | 0.3138 current US$ per US$ of GDP | -2.9% |
| 2024 | 0.2817 current US$ per US$ of GDP | -10.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.2817 current US$ per US$ of GDP is above the median for high income countries, which is 0.2293 current US$ per US$ of GDP, 1.2× the median. (67 countries reporting)
- Faroe Islands's 0.2817 current US$ per US$ of GDP is above the median for Europe & Central Asia, which is 0.2386 current US$ per US$ of GDP, 1.2× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.2289 current US$ per US$ of GDP | 0.2212 current US$ per US$ of GDP | 0.2366 current US$ per US$ of GDP | 2 |
| 2000s | 0.2584 current US$ per US$ of GDP | 0.1754 current US$ per US$ of GDP | 0.3215 current US$ per US$ of GDP | 10 |
| 2010s | 0.2323 current US$ per US$ of GDP | 0.1626 current US$ per US$ of GDP | 0.2971 current US$ per US$ of GDP | 10 |
| 2020s | 0.298 current US$ per US$ of GDP | 0.2817 current US$ per US$ of GDP | 0.3232 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 46 Bosnia and Herzegovina 0.2874 current US$ per US$ of GDP compare
- 47 Bangladesh 0.2854 current US$ per US$ of GDP compare
- 48 Bahrain 0.2836 current US$ per US$ of GDP compare
- 50 Somalia 0.2811 current US$ per US$ of GDP compare
- 51 Kyrgyzstan 0.2797 current US$ per US$ of GDP compare
- 52 Japan 0.2768 current US$ per US$ of GDP 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 gross capital formation (current us$), per unit of gdp in Faroe Islands?
- Gross capital formation (current us$), per unit of gdp in Faroe Islands was 0.2817 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gross capital formation (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.3232 current US$ per US$ of GDP in 2022.
- What is the lowest gross capital formation (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.1626 current US$ per US$ of GDP in 2011.
- How does Faroe Islands rank for gross capital formation (current us$), per unit of gdp?
- Faroe Islands ranks 49th out of 187 countries with data for 2024.
- Is gross capital formation (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 29.5%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Gross capital formation (current US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross capital formation (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross capital formation (current US$) ÷ GDP (current US$)
Computed from
- Gross capital formation Country official statistics, National Statistical Organizations and/or Central Banks
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross capital formation (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.