Gross value added at basic prices (GVA) (current LCU), per unit of GDP in Faroe Islands
Faroe Islands: Gross value added at basic prices (GVA) (current LCU), per unit of GDP was 6.08 current LCU per US$ of GDP in 2024. ▬ Flat
Gross value added at basic prices (GVA) (current LCU), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
The most recent figure for gross value added at basic prices (gva) (current lcu), per unit of gdp in Faroe Islands is 6.08 current LCU per US$ of GDP, measured in 2024.
Compared with earlier readings it is down 1.1% on the previous year and up 22.2% over ten years.
Over the whole period, gross value added at basic prices (gva) (current lcu), per unit of gdp in Faroe Islands peaked at 7.27 current LCU per US$ of GDP in 2001 and was at its lowest, 4.38 current LCU per US$ of GDP, in 2008.
Faroe Islands ranks 115th of 205 countries on this measure, in the middle of the range.
Gross value added at basic prices (GVA) (current LCU), per unit of GDP in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1998 | 5.8 current LCU per US$ of GDP | — |
| 1999 | 6.03 current LCU per US$ of GDP | +4.1% |
| 2000 | 7 current LCU per US$ of GDP | +16.1% |
| 2001 | 7.27 current LCU per US$ of GDP | +3.8% |
| 2002 | 6.85 current LCU per US$ of GDP | -5.8% |
| 2003 | 5.67 current LCU per US$ of GDP | -17.3% |
| 2004 | 5.19 current LCU per US$ of GDP | -8.5% |
| 2005 | 5.18 current LCU per US$ of GDP | -0.1% |
| 2006 | 5.11 current LCU per US$ of GDP | -1.2% |
| 2007 | 4.64 current LCU per US$ of GDP | -9.3% |
| 2008 | 4.38 current LCU per US$ of GDP | -5.6% |
| 2009 | 4.67 current LCU per US$ of GDP | +6.6% |
| 2010 | 4.91 current LCU per US$ of GDP | +5.1% |
| 2011 | 4.71 current LCU per US$ of GDP | -4.0% |
| 2012 | 5.09 current LCU per US$ of GDP | +8.0% |
| 2013 | 4.99 current LCU per US$ of GDP | -1.9% |
| 2014 | 4.98 current LCU per US$ of GDP | -0.3% |
| 2015 | 5.99 current LCU per US$ of GDP | +20.4% |
| 2016 | 6.01 current LCU per US$ of GDP | +0.2% |
| 2017 | 5.88 current LCU per US$ of GDP | -2.1% |
| 2018 | 5.61 current LCU per US$ of GDP | -4.7% |
| 2019 | 5.94 current LCU per US$ of GDP | +5.9% |
| 2020 | 5.77 current LCU per US$ of GDP | -2.8% |
| 2021 | 5.5 current LCU per US$ of GDP | -4.6% |
| 2022 | 6.24 current LCU per US$ of GDP | +13.4% |
| 2023 | 6.15 current LCU per US$ of GDP | -1.5% |
| 2024 | 6.08 current LCU per US$ of GDP | -1.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.92 current LCU per US$ of GDP | 5.8 current LCU per US$ of GDP | 6.03 current LCU per US$ of GDP | 2 |
| 2000s | 5.6 current LCU per US$ of GDP | 4.38 current LCU per US$ of GDP | 7.27 current LCU per US$ of GDP | 10 |
| 2010s | 5.41 current LCU per US$ of GDP | 4.71 current LCU per US$ of GDP | 6.01 current LCU per US$ of GDP | 10 |
| 2020s | 5.95 current LCU per US$ of GDP | 5.5 current LCU per US$ of GDP | 6.24 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 112 Greenland 6.61 current LCU per US$ of GDP compare
- 113 Bolivia 6.46 current LCU per US$ of GDP compare
- 114 Trinidad and Tobago 6.39 current LCU per US$ of GDP compare
- 116 Denmark 5.87 current LCU per US$ of GDP compare
- 117 Libya 5.39 current LCU per US$ of GDP compare
- 118 Turkmenistan 5.28 current LCU per US$ of GDP compare
More economy & growth data for Faroe Islands
- Taxes less subsidies on products (current US$), annual growth rate 12.6 % change on previous year (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
- GDP 4.05 billion current US$ (2024)
- GDP 27.94 billion current LCU (2024)
- Net primary income (Net income from abroad) (current LCU), annual 143.63 % change on previous year (2024)
- GDP 3.24 billion constant 2015 US$ (2024)
- GDP growth 0.8% (2024)
- GDP 20.63 billion constant LCU (2024)
- GDP per capita 377,557 constant LCU (2024)
- GDP per capita growth 0.4% (2024)
Frequently asked questions
- What is gross value added at basic prices (gva) (current lcu), per unit of gdp in Faroe Islands?
- Gross value added at basic prices (gva) (current lcu), per unit of gdp in Faroe Islands was 6.08 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 7.27 current LCU per US$ of GDP in 2001.
- What is the lowest gross value added at basic prices (gva) (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 4.38 current LCU per US$ of GDP in 2008.
- How does Faroe Islands rank for gross value added at basic prices (gva) (current lcu), per unit of gdp?
- Faroe Islands ranks 115th out of 205 countries with data for 2024.
- Is gross value added at basic prices (gva) (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 22.2%. The long-run trend across the full record is flat.
- 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 unit of GDP. 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 GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross value added at basic prices (GVA) (current LCU) ÷ GDP (current US$)
Computed from
- Gross value added at basic prices (GVA) 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 value added at basic prices (GVA) (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.