Gross value added at basic prices (GVA) (current LCU), per square in Faroe Islands
Faroe Islands: Gross value added at basic prices (GVA) (current LCU), per square was 17.69 million current LCU per square kilometre in 2023. ▲ Rising
Gross value added at basic prices (GVA) (current LCU), per square in Faroe Islands, 1998–2023
Source: Statizoid (derived). Measured in current LCU per square kilometre.
Analysis
The most recent figure for gross value added at basic prices (gva) (current lcu), per square in Faroe Islands is 17.69 million current LCU per square kilometre, measured in 2023. That is the highest value across all 26 years on record.
That represents a change of up 7.5% on the previous year and up 84.0% over ten years.
Over the whole period, gross value added at basic prices (gva) (current lcu), per square in Faroe Islands peaked at 17.69 million current LCU per square kilometre in 2023 and was at its lowest, 4.59 million current LCU per square kilometre, in 1998.
That places Faroe Islands 90th out of 204 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 26 years of available data.
Gross value added at basic prices (GVA) (current LCU), per square in Faroe Islands, year by year
| Year | current LCU per square kilometre | Change |
|---|---|---|
| 1998 | 4.59 million current LCU per square kilometre | — |
| 1999 | 4.87 million current LCU per square kilometre | +6.2% |
| 2000 | 5.35 million current LCU per square kilometre | +9.8% |
| 2001 | 6.04 million current LCU per square kilometre | +12.9% |
| 2002 | 6.26 million current LCU per square kilometre | +3.5% |
| 2003 | 6.10 million current LCU per square kilometre | -2.6% |
| 2004 | 6.41 million current LCU per square kilometre | +5.1% |
| 2005 | 6.53 million current LCU per square kilometre | +1.9% |
| 2006 | 7.39 million current LCU per square kilometre | +13.2% |
| 2007 | 7.77 million current LCU per square kilometre | +5.2% |
| 2008 | 7.81 million current LCU per square kilometre | +0.5% |
| 2009 | 7.68 million current LCU per square kilometre | -1.7% |
| 2010 | 8.20 million current LCU per square kilometre | +6.8% |
| 2011 | 8.45 million current LCU per square kilometre | +3.1% |
| 2012 | 8.84 million current LCU per square kilometre | +4.6% |
| 2013 | 9.62 million current LCU per square kilometre | +8.7% |
| 2014 | 10.39 million current LCU per square kilometre | +8.0% |
| 2015 | 11.05 million current LCU per square kilometre | +6.4% |
| 2016 | 12.11 million current LCU per square kilometre | +9.6% |
| 2017 | 12.56 million current LCU per square kilometre | +3.7% |
| 2018 | 12.81 million current LCU per square kilometre | +2.0% |
| 2019 | 13.89 million current LCU per square kilometre | +8.4% |
| 2020 | 13.82 million current LCU per square kilometre | -0.5% |
| 2021 | 14.86 million current LCU per square kilometre | +7.5% |
| 2022 | 16.46 million current LCU per square kilometre | +10.8% |
| 2023 | 17.69 million current LCU per square kilometre | +7.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.73 million current LCU per square kilometre | 4.59 million current LCU per square kilometre | 4.87 million current LCU per square kilometre | 2 |
| 2000s | 6.73 million current LCU per square kilometre | 5.35 million current LCU per square kilometre | 7.81 million current LCU per square kilometre | 10 |
| 2010s | 10.79 million current LCU per square kilometre | 8.20 million current LCU per square kilometre | 13.89 million current LCU per square kilometre | 10 |
| 2020s | 15.71 million current LCU per square kilometre | 13.82 million current LCU per square kilometre | 17.69 million current LCU per square kilometre | 4 |
Countries ranked near Faroe Islands
- 87 Bahrain 20.76 million current LCU per square kilometre compare
- 88 Switzerland 20.59 million current LCU per square kilometre compare
- 89 Belgium 17.88 million current LCU per square kilometre compare
- 91 Guyana 16.22 million current LCU per square kilometre compare
- 92 Uruguay 15.58 million current LCU per square kilometre compare
- 93 Mexico 15.41 million current LCU per square kilometre compare
More economy & growth data for Faroe Islands
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 6.08 current LCU per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current LCU), annual growth 1.67 % change on previous year (2024)
- GDP growth 0.8% (2024)
- Discrepancy in expenditure estimate of GDP 100,000 current LCU (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
- GDP 4.05 billion current US$ (2024)
- GDP 27.94 billion current LCU (2024)
Frequently asked questions
- What is gross value added at basic prices (gva) (current lcu), per square in Faroe Islands?
- Gross value added at basic prices (gva) (current lcu), per square in Faroe Islands was 17.69 million current LCU per square kilometre in 2023, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (current lcu), per square recorded in Faroe Islands?
- The highest recorded value was 17.69 million current LCU per square kilometre in 2023.
- What is the lowest gross value added at basic prices (gva) (current lcu), per square recorded in Faroe Islands?
- The lowest recorded value was 4.59 million current LCU per square kilometre in 1998.
- How does Faroe Islands rank for gross value added at basic prices (gva) (current lcu), per square?
- Faroe Islands ranks 90th out of 204 countries with data for 2023.
- Is gross value added at basic prices (gva) (current lcu), per square rising or falling in Faroe Islands?
- Over the last ten years it is up 84.0%. 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 value added at basic prices (GVA) (current LCU), per square kilometre. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross value added at basic prices (GVA) (current LCU) divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross value added at basic prices (GVA) (current LCU) ÷ Land area (sq. km)
Computed from
- Gross value added at basic prices (GVA) Country official statistics, National Statistical Organizations and/or Central Banks
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
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 value added at basic prices (GVA) (current LCU) divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.