Gross national expenditure (current US$), annual growth rate (current) in Faroe Islands
Faroe Islands: Gross national expenditure (current US$), annual growth rate (current) was 0.3888 % change on previous year in 2024. ◆ Volatile
Gross national expenditure (current US$), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Faroe Islands recorded 0.3888 % change on previous year for gross national expenditure (current us$), annual growth rate in 2024.
That represents a change of down 95.0% on the previous year and down 90.9% over ten years.
Over the whole period, gross national expenditure (current us$), annual growth rate in Faroe Islands peaked at 34.46 % change on previous year in 2003 and was at its lowest, -11.79 % change on previous year, in 2015.
That places Faroe Islands 163rd out of 185 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross national expenditure (current US$), annual growth rate (current) in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 6.91 % change on previous year | — |
| 2000 | -0.8621 % change on previous year | -112.5% |
| 2001 | 2.58 % change on previous year | -399.8% |
| 2002 | 8.51 % change on previous year | +229.4% |
| 2003 | 34.46 % change on previous year | +304.7% |
| 2004 | 6.12 % change on previous year | -82.2% |
| 2005 | 12.48 % change on previous year | +103.8% |
| 2006 | 11.64 % change on previous year | -6.7% |
| 2007 | 17.4 % change on previous year | +49.5% |
| 2008 | 3.03 % change on previous year | -82.6% |
| 2009 | -9.44 % change on previous year | -411.4% |
| 2010 | -3.83 % change on previous year | -59.5% |
| 2011 | 4.6 % change on previous year | -220.3% |
| 2012 | 7.48 % change on previous year | +62.5% |
| 2013 | 2.06 % change on previous year | -72.4% |
| 2014 | 4.27 % change on previous year | +106.7% |
| 2015 | -11.79 % change on previous year | -376.3% |
| 2016 | 5.22 % change on previous year | -144.3% |
| 2017 | 4.85 % change on previous year | -7.1% |
| 2018 | 14.62 % change on previous year | +201.3% |
| 2019 | -1.76 % change on previous year | -112.1% |
| 2020 | 4.59 % change on previous year | -360.0% |
| 2021 | 11.02 % change on previous year | +140.2% |
| 2022 | -1.7 % change on previous year | -115.5% |
| 2023 | 7.8 % change on previous year | -557.9% |
| 2024 | 0.3888 % change on previous year | -95.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.3888 % change on previous year is below the median for high income countries, which is 7.92 % change on previous year, 5% of the median. (66 countries reporting)
- Faroe Islands's 0.3888 % change on previous year is below the median for Europe & Central Asia, which is 11.02 % change on previous year, 4% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.91 % change on previous year | 6.91 % change on previous year | 6.91 % change on previous year | 1 |
| 2000s | 8.59 % change on previous year | -9.44 % change on previous year | 34.46 % change on previous year | 10 |
| 2010s | 2.57 % change on previous year | -11.79 % change on previous year | 14.62 % change on previous year | 10 |
| 2020s | 4.42 % change on previous year | -1.7 % change on previous year | 11.02 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 160 Panama 0.9683 % change on previous year compare
- 161 Dominican Republic 0.5536 % change on previous year compare
- 162 New Zealand 0.5121 % change on previous year compare
- 164 Oman 0.2142 % change on previous year compare
- 165 Ghana 0.155 % change on previous year compare
- 166 Macao -0.4688 % change on previous year compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ 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)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is gross national expenditure (current us$), annual growth rate in Faroe Islands?
- Gross national expenditure (current us$), annual growth rate in Faroe Islands was 0.3888 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross national expenditure (current us$), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 34.46 % change on previous year in 2003.
- What is the lowest gross national expenditure (current us$), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -11.79 % change on previous year in 2015.
- How does Faroe Islands rank for gross national expenditure (current us$), annual growth rate?
- Faroe Islands ranks 163rd out of 185 countries with data for 2024.
- Is gross national expenditure (current us$), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 90.9%. 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 national expenditure (current US$), annual growth rate. Statizoid updates them automatically from the source API.
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How this figure is calculated
The year-on-year percentage change in Gross national expenditure (current US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross national expenditure 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 national expenditure (current US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.