Gross savings (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Gross savings (current US$), per unit of GDP was 0.2878 current US$ per US$ of GDP in 2011. ▼ Falling
Gross savings (current US$), per unit of GDP in Faroe Islands, 1998–2011
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
In 2011, gross savings (current us$), per unit of gdp in Faroe Islands stood at 0.2878 current US$ per US$ of GDP.
That represents a change of up 23.3% on the previous year and down 26.7% over ten years.
Over the whole period, gross savings (current us$), per unit of gdp in Faroe Islands peaked at 0.4193 current US$ per US$ of GDP in 1998 and was at its lowest, 0.1196 current US$ per US$ of GDP, in 2009.
Faroe Islands ranks 48th of 178 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 14 years of available data.
Gross savings (current US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.4193 current US$ per US$ of GDP | — |
| 1999 | 0.3895 current US$ per US$ of GDP | -7.1% |
| 2000 | 0.4046 current US$ per US$ of GDP | +3.9% |
| 2001 | 0.3928 current US$ per US$ of GDP | -2.9% |
| 2002 | 0.3394 current US$ per US$ of GDP | -13.6% |
| 2003 | 0.2851 current US$ per US$ of GDP | -16.0% |
| 2004 | 0.2549 current US$ per US$ of GDP | -10.6% |
| 2005 | 0.1611 current US$ per US$ of GDP | -36.8% |
| 2006 | 0.2522 current US$ per US$ of GDP | +56.5% |
| 2007 | 0.2846 current US$ per US$ of GDP | +12.8% |
| 2008 | 0.2124 current US$ per US$ of GDP | -25.4% |
| 2009 | 0.1196 current US$ per US$ of GDP | -43.7% |
| 2010 | 0.2334 current US$ per US$ of GDP | +95.3% |
| 2011 | 0.2878 current US$ per US$ of GDP | +23.3% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.2878 current US$ per US$ of GDP is above the median for high income countries, which is 0.237 current US$ per US$ of GDP, 1.2× the median. (63 countries reporting)
- Faroe Islands's 0.2878 current US$ per US$ of GDP is above the median for Europe & Central Asia, which is 0.2345 current US$ per US$ of GDP, 1.2× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.4044 current US$ per US$ of GDP | 0.3895 current US$ per US$ of GDP | 0.4193 current US$ per US$ of GDP | 2 |
| 2000s | 0.2707 current US$ per US$ of GDP | 0.1196 current US$ per US$ of GDP | 0.4046 current US$ per US$ of GDP | 10 |
| 2010s | 0.2606 current US$ per US$ of GDP | 0.2334 current US$ per US$ of GDP | 0.2878 current US$ per US$ of GDP | 2 |
Countries ranked near Faroe Islands
- 45 Kazakhstan 0.2899 current US$ per US$ of GDP compare
- 46 Saudi Arabia 0.289 current US$ per US$ of GDP compare
- 47 Netherlands 0.2883 current US$ per US$ of GDP compare
- 49 Democratic Republic of Congo 0.2869 current US$ per US$ of GDP compare
- 50 Russia 0.2864 current US$ per US$ of GDP compare
- 51 Nicaragua 0.2848 current US$ per US$ of GDP compare
More economy & growth data for Faroe Islands
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Imports of goods and services (current US$), per unit of GDP 0.512 current US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 2.8 current LCU per US$ of GDP (2024)
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Imports of goods and services (current US$), per capita 37,975 current US$ per person (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 207,672 current LCU per person (2024)
Frequently asked questions
- What is gross savings (current us$), per unit of gdp in Faroe Islands?
- Gross savings (current us$), per unit of gdp in Faroe Islands was 0.2878 current US$ per US$ of GDP in 2011, according to Statizoid (derived).
- What is the highest gross savings (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.4193 current US$ per US$ of GDP in 1998.
- What is the lowest gross savings (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.1196 current US$ per US$ of GDP in 2009.
- How does Faroe Islands rank for gross savings (current us$), per unit of gdp?
- Faroe Islands ranks 48th out of 178 countries with data for 2011.
- Is gross savings (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is down 26.7%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Gross savings (current US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross savings (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross savings (current US$) ÷ GDP (current US$)
Computed from
- Gross savings Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross savings (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.