Gross domestic savings (current LCU), per unit of GDP in Faroe Islands
Faroe Islands: Gross domestic savings (current LCU), per unit of GDP was 2.17 current LCU per US$ of GDP in 2024. ▲ Rising
Gross domestic savings (current LCU), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
Faroe Islands recorded 2.17 current LCU per US$ of GDP for gross domestic savings (current lcu), per unit of gdp in 2024.
That represents a change of down 2.7% on the previous year and up 72.6% over ten years.
Over the whole period, gross domestic savings (current lcu), per unit of gdp in Faroe Islands peaked at 2.28 current LCU per US$ of GDP in 2022 and was at its lowest, 0.3086 current LCU per US$ of GDP, in 2005.
That places Faroe Islands 85th out of 187 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 27 years of available data.
Gross domestic savings (current LCU), per unit of GDP in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1998 | 1.6 current LCU per US$ of GDP | — |
| 1999 | 1.44 current LCU per US$ of GDP | -9.5% |
| 2000 | 1.85 current LCU per US$ of GDP | +28.5% |
| 2001 | 2.03 current LCU per US$ of GDP | +9.3% |
| 2002 | 1.8 current LCU per US$ of GDP | -11.2% |
| 2003 | 1.1 current LCU per US$ of GDP | -38.9% |
| 2004 | 0.8521 current LCU per US$ of GDP | -22.5% |
| 2005 | 0.3086 current LCU per US$ of GDP | -63.8% |
| 2006 | 0.8847 current LCU per US$ of GDP | +186.7% |
| 2007 | 0.92 current LCU per US$ of GDP | +4.0% |
| 2008 | 0.7453 current LCU per US$ of GDP | -19.0% |
| 2009 | 0.4286 current LCU per US$ of GDP | -42.5% |
| 2010 | 0.8877 current LCU per US$ of GDP | +107.1% |
| 2011 | 0.8204 current LCU per US$ of GDP | -7.6% |
| 2012 | 0.8236 current LCU per US$ of GDP | +0.4% |
| 2013 | 1.03 current LCU per US$ of GDP | +25.6% |
| 2014 | 1.26 current LCU per US$ of GDP | +21.8% |
| 2015 | 1.67 current LCU per US$ of GDP | +32.4% |
| 2016 | 1.8 current LCU per US$ of GDP | +7.7% |
| 2017 | 1.91 current LCU per US$ of GDP | +6.4% |
| 2018 | 1.8 current LCU per US$ of GDP | -5.9% |
| 2019 | 2.04 current LCU per US$ of GDP | +13.3% |
| 2020 | 1.76 current LCU per US$ of GDP | -13.6% |
| 2021 | 1.84 current LCU per US$ of GDP | +4.9% |
| 2022 | 2.28 current LCU per US$ of GDP | +23.6% |
| 2023 | 2.23 current LCU per US$ of GDP | -2.0% |
| 2024 | 2.17 current LCU per US$ of GDP | -2.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.52 current LCU per US$ of GDP | 1.44 current LCU per US$ of GDP | 1.6 current LCU per US$ of GDP | 2 |
| 2000s | 1.09 current LCU per US$ of GDP | 0.3086 current LCU per US$ of GDP | 2.03 current LCU per US$ of GDP | 10 |
| 2010s | 1.4 current LCU per US$ of GDP | 0.8204 current LCU per US$ of GDP | 2.04 current LCU per US$ of GDP | 10 |
| 2020s | 2.06 current LCU per US$ of GDP | 1.76 current LCU per US$ of GDP | 2.28 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 82 Qatar 2.46 current LCU per US$ of GDP compare
- 83 Turkmenistan 2.25 current LCU per US$ of GDP compare
- 84 Denmark 2.19 current LCU per US$ of GDP compare
- 86 Morocco 2.12 current LCU per US$ of GDP compare
- 87 Libya 1.95 current LCU per US$ of GDP compare
- 88 Greenland 1.77 current LCU per US$ of GDP compare
More economy & growth data for Faroe Islands
- Manufacturing, value added (current US$), per unit of GDP 0.0946 current US$ per US$ of GDP (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)
- Agriculture, forestry, and fishing, value added (current LCU), per 82,165 current LCU per person (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
- Industry (including construction), value added (current US$), per 0.183 current US$ per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Imports of goods and services (current LCU), per capita 261,819 current LCU per person (2024)
Frequently asked questions
- What is gross domestic savings (current lcu), per unit of gdp in Faroe Islands?
- Gross domestic savings (current lcu), per unit of gdp in Faroe Islands was 2.17 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gross domestic savings (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 2.28 current LCU per US$ of GDP in 2022.
- What is the lowest gross domestic savings (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.3086 current LCU per US$ of GDP in 2005.
- How does Faroe Islands rank for gross domestic savings (current lcu), per unit of gdp?
- Faroe Islands ranks 85th out of 187 countries with data for 2024.
- Is gross domestic savings (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 72.6%. 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 domestic savings (current LCU), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross domestic savings (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross domestic savings (current LCU) ÷ GDP (current US$)
Computed from
- Gross domestic savings 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 domestic savings (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.