Gross value added at basic prices (GVA) (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Gross value added at basic prices (GVA) (current US$), per unit of GDP was 0.8819 current US$ per US$ of GDP in 2024. ▬ Flat
Gross value added at basic prices (GVA) (current US$), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
Faroe Islands recorded 0.8819 current US$ per US$ of GDP for gross value added at basic prices (gva) (current us$), per unit of gdp in 2024.
The figure is down 1.2% on the previous year and down 0.5% over ten years.
Over the whole period, gross value added at basic prices (gva) (current us$), per unit of gdp in Faroe Islands peaked at 0.8924 current US$ per US$ of GDP in 2016 and was at its lowest, 0.8522 current US$ per US$ of GDP, in 2007.
That places Faroe Islands 154th out of 205 countries with data for 2024, putting it in the bottom quarter.
Gross value added at basic prices (GVA) (current US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.8653 current US$ per US$ of GDP | — |
| 1999 | 0.8651 current US$ per US$ of GDP | -0.0% |
| 2000 | 0.8665 current US$ per US$ of GDP | +0.2% |
| 2001 | 0.8736 current US$ per US$ of GDP | +0.8% |
| 2002 | 0.8677 current US$ per US$ of GDP | -0.7% |
| 2003 | 0.8602 current US$ per US$ of GDP | -0.9% |
| 2004 | 0.8655 current US$ per US$ of GDP | +0.6% |
| 2005 | 0.8636 current US$ per US$ of GDP | -0.2% |
| 2006 | 0.86 current US$ per US$ of GDP | -0.4% |
| 2007 | 0.8522 current US$ per US$ of GDP | -0.9% |
| 2008 | 0.8592 current US$ per US$ of GDP | +0.8% |
| 2009 | 0.8707 current US$ per US$ of GDP | +1.3% |
| 2010 | 0.8725 current US$ per US$ of GDP | +0.2% |
| 2011 | 0.877 current US$ per US$ of GDP | +0.5% |
| 2012 | 0.8781 current US$ per US$ of GDP | +0.1% |
| 2013 | 0.8885 current US$ per US$ of GDP | +1.2% |
| 2014 | 0.8867 current US$ per US$ of GDP | -0.2% |
| 2015 | 0.8907 current US$ per US$ of GDP | +0.4% |
| 2016 | 0.8924 current US$ per US$ of GDP | +0.2% |
| 2017 | 0.891 current US$ per US$ of GDP | -0.2% |
| 2018 | 0.8879 current US$ per US$ of GDP | -0.3% |
| 2019 | 0.8899 current US$ per US$ of GDP | +0.2% |
| 2020 | 0.8818 current US$ per US$ of GDP | -0.9% |
| 2021 | 0.8751 current US$ per US$ of GDP | -0.8% |
| 2022 | 0.8816 current US$ per US$ of GDP | +0.7% |
| 2023 | 0.8922 current US$ per US$ of GDP | +1.2% |
| 2024 | 0.8819 current US$ per US$ of GDP | -1.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.8652 current US$ per US$ of GDP | 0.8651 current US$ per US$ of GDP | 0.8653 current US$ per US$ of GDP | 2 |
| 2000s | 0.8639 current US$ per US$ of GDP | 0.8522 current US$ per US$ of GDP | 0.8736 current US$ per US$ of GDP | 10 |
| 2010s | 0.8855 current US$ per US$ of GDP | 0.8725 current US$ per US$ of GDP | 0.8924 current US$ per US$ of GDP | 10 |
| 2020s | 0.8825 current US$ per US$ of GDP | 0.8751 current US$ per US$ of GDP | 0.8922 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 151 Sri Lanka 0.8843 current US$ per US$ of GDP compare
- 152 Antigua and Barbuda 0.8832 current US$ per US$ of GDP compare
- 153 Central African Republic 0.8828 current US$ per US$ of GDP compare
- 155 Morocco 0.881 current US$ per US$ of GDP compare
- 156 Poland 0.8803 current US$ per US$ of GDP compare
- 157 Nepal 0.8798 current US$ per US$ of GDP 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)
- Gross value added at basic prices (GVA) (current US$), per capita 65,417 current US$ per person (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- GDP growth 0.8% (2024)
- Discrepancy in expenditure estimate of GDP 100,000 current LCU (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
Frequently asked questions
- What is gross value added at basic prices (gva) (current us$), per unit of gdp in Faroe Islands?
- Gross value added at basic prices (gva) (current us$), per unit of gdp in Faroe Islands was 0.8819 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.8924 current US$ per US$ of GDP in 2016.
- What is the lowest gross value added at basic prices (gva) (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.8522 current US$ per US$ of GDP in 2007.
- How does Faroe Islands rank for gross value added at basic prices (gva) (current us$), per unit of gdp?
- Faroe Islands ranks 154th out of 205 countries with data for 2024.
- Is gross value added at basic prices (gva) (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is down 0.5%. 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 US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross value added at basic prices (GVA) (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross value added at basic prices (GVA) (current US$) ÷ GDP (current US$)
Computed from
- Gross value added at basic prices (GVA) Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross value added at basic prices (GVA) (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.