Gross domestic savings (current LCU), annual growth rate (LCU annual) in Faroe Islands
Faroe Islands: Gross domestic savings (current LCU), annual growth rate (LCU annual) was -0.0057 % change on previous year in 2024. ◆ Volatile
Gross domestic savings (current LCU), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, gross domestic savings (current lcu), annual growth rate in Faroe Islands stood at -0.0057 % change on previous year.
Compared with earlier readings it is down 100.1% on the previous year and down 100.0% over ten years.
Over the whole period, gross domestic savings (current lcu), annual growth rate in Faroe Islands peaked at 228.69 % change on previous year in 2006 and was at its lowest, -63.05 % change on previous year, in 2005.
That places Faroe Islands 126th out of 185 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.
Gross domestic savings (current LCU), annual growth rate (LCU annual) in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | -7.63 % change on previous year | — |
| 2000 | 21.55 % change on previous year | -382.4% |
| 2001 | 18.79 % change on previous year | -12.8% |
| 2002 | -2.38 % change on previous year | -112.7% |
| 2003 | -28.02 % change on previous year | +1078.5% |
| 2004 | -11.02 % change on previous year | -60.7% |
| 2005 | -63.05 % change on previous year | +472.2% |
| 2006 | 228.69 % change on previous year | -462.7% |
| 2007 | 20.54 % change on previous year | -91.0% |
| 2008 | -13.76 % change on previous year | -167.0% |
| 2009 | -46.97 % change on previous year | +241.4% |
| 2010 | 110.31 % change on previous year | -334.9% |
| 2011 | -0.6909 % change on previous year | -100.6% |
| 2012 | -2.75 % change on previous year | +297.9% |
| 2013 | 39.21 % change on previous year | -1526.5% |
| 2014 | 31.9 % change on previous year | -18.6% |
| 2015 | 16.95 % change on previous year | -46.9% |
| 2016 | 17.72 % change on previous year | +4.6% |
| 2017 | 12.73 % change on previous year | -28.2% |
| 2018 | 0.6355 % change on previous year | -95.0% |
| 2019 | 16.02 % change on previous year | +2420.4% |
| 2020 | -13.47 % change on previous year | -184.1% |
| 2021 | 18.57 % change on previous year | -237.9% |
| 2022 | 20.75 % change on previous year | +11.7% |
| 2023 | 6.93 % change on previous year | -66.6% |
| 2024 | -0.0057 % change on previous year | -100.1% |
Faroe Islands compared with similar countries
- Faroe Islands's -0.0057 % change on previous year is below the median for high income countries, which is 3.69 % change on previous year. (67 countries reporting)
- Faroe Islands's -0.0057 % change on previous year is below the median for Europe & Central Asia, which is 3.69 % change on previous year. (52 countries reporting)
Biggest year-on-year movements
Years where Gross domestic savings (current LCU), annual growth rate (LCU annual) 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 |
|---|---|---|---|
| 2019 | +2420.4% | 0.6355 % change on previous year | 16.02 % change on previous year |
| 2013 | +1526.5% | -2.75 % change on previous year | 39.21 % change on previous year |
| 2003 | -1078.5% | -2.38 % change on previous year | -28.02 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -7.63 % change on previous year | -7.63 % change on previous year | -7.63 % change on previous year | 1 |
| 2000s | 12.44 % change on previous year | -63.05 % change on previous year | 228.69 % change on previous year | 10 |
| 2010s | 24.2 % change on previous year | -2.75 % change on previous year | 110.31 % change on previous year | 10 |
| 2020s | 6.55 % change on previous year | -13.47 % change on previous year | 20.75 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 123 Switzerland 0.6889 % change on previous year compare
- 124 Bahamas 0.5798 % change on previous year compare
- 125 Madagascar 0.0286 % change on previous year compare
- 127 Mauritania -0.1017 % change on previous year compare
- 128 Bulgaria -0.1897 % change on previous year compare
- 129 Malaysia -0.1899 % change on previous year compare
More economy & growth data for Faroe Islands
- Final consumption expenditure (current LCU), per unit of GDP 4.72 current LCU per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 207,672 current LCU per person (2024)
- Final consumption expenditure (current US$), annual growth rate 4.16 % change on previous year (2024)
- Final consumption expenditure (current US$), per unit of GDP 0.6847 current US$ per US$ of GDP (2024)
- Final consumption expenditure (current US$), per capita 50,788 current US$ per person (2024)
- Final consumption expenditure (current LCU), annual growth rate 4.23 % change on previous year (2024)
- Gross national expenditure (current US$), annual growth rate 0.3888 % change on previous year (2024)
- Gross national expenditure (current US$), per capita 71,683 current US$ per person (2024)
- Gross national expenditure (current US$), per unit of GDP 0.9664 current US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 2.8 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is gross domestic savings (current lcu), annual growth rate in Faroe Islands?
- Gross domestic savings (current lcu), annual growth rate in Faroe Islands was -0.0057 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic savings (current lcu), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 228.69 % change on previous year in 2006.
- What is the lowest gross domestic savings (current lcu), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -63.05 % change on previous year in 2005.
- How does Faroe Islands rank for gross domestic savings (current lcu), annual growth rate?
- Faroe Islands ranks 126th out of 185 countries with data for 2024.
- Is gross domestic savings (current lcu), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 100.0%. 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 Gross domestic savings (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 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 Gross domestic savings (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross domestic savings 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 Gross domestic savings (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.