Gross capital formation in Faroe Islands
Faroe Islands: Gross capital formation was 28.2% in 2024. ▲ Rising
Gross capital formation in Faroe Islands, 1998–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
The most recent figure for gross capital formation in Faroe Islands is 28.2%, measured in 2024.
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 in Faroe Islands peaked at 32.3% in 2022 and was at its lowest, 16.3%, 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 in Faroe Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1998 | 22.1% | — |
| 1999 | 23.7% | +7.0% |
| 2000 | 30.8% | +30.2% |
| 2001 | 26.1% | -15.2% |
| 2002 | 23.3% | -10.8% |
| 2003 | 31.4% | +34.8% |
| 2004 | 20.2% | -35.6% |
| 2005 | 22.0% | +8.8% |
| 2006 | 28.7% | +30.2% |
| 2007 | 32.1% | +12.1% |
| 2008 | 26.2% | -18.6% |
| 2009 | 17.5% | -33.0% |
| 2010 | 19.5% | +11.3% |
| 2011 | 16.3% | -16.7% |
| 2012 | 26.3% | +61.5% |
| 2013 | 21.6% | -17.8% |
| 2014 | 21.8% | +0.8% |
| 2015 | 24.0% | +10.2% |
| 2016 | 22.2% | -7.5% |
| 2017 | 23.5% | +5.8% |
| 2018 | 29.7% | +26.6% |
| 2019 | 27.6% | -7.1% |
| 2020 | 28.3% | +2.3% |
| 2021 | 28.9% | +2.2% |
| 2022 | 32.3% | +12.0% |
| 2023 | 31.4% | -2.9% |
| 2024 | 28.2% | -10.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 22.9% | 22.1% | 23.7% | 2 |
| 2000s | 25.8% | 17.5% | 32.1% | 10 |
| 2010s | 23.2% | 16.3% | 29.7% | 10 |
| 2020s | 29.8% | 28.2% | 32.3% | 5 |
Countries ranked near Faroe Islands
- 46 Bosnia and Herzegovina 28.7% compare
- 47 Bangladesh 28.5% compare
- 48 Bahrain 28.4% compare
- 50 Somalia 28.1% compare
- 51 Kyrgyzstan 28.0% compare
- 52 Japan 27.7% compare
More economy & growth data for Faroe Islands
- Agriculture, forestry, and fishing, value added (current LCU), per 82,165 current LCU per person (2024)
- Imports of goods and services (current LCU), per unit of GDP 3.53 current LCU per US$ of GDP (2024)
- Imports of goods and services (current LCU), per capita 261,819 current LCU per person (2024)
- External balance on goods and services (current US$), annual growth 227.91 % change on previous year (2024)
- External balance on goods and services (current LCU), annual growth 228.14 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual -6.93 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), per 1.11 current LCU per US$ of GDP (2024)
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
Frequently asked questions
- What is gross capital formation in Faroe Islands?
- Gross capital formation in Faroe Islands was 28.2% 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 32.3% in 2022.
- What is the lowest gross capital formation recorded in Faroe Islands?
- The lowest recorded value was 16.3% in 2011.
- How does Faroe Islands rank for gross capital formation?
- Faroe Islands ranks 49th out of 187 countries with data for 2024.
- Is gross capital formation 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 Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross capital formation (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.