Households and NPISHs Final consumption expenditure (current LCU) in Faroe Islands
Faroe Islands: Households and NPISHs Final consumption expenditure (current LCU) was 2.89 % change on previous year in 2024. ◆ Volatile
Households and NPISHs Final consumption expenditure (current LCU) in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, households and npishs final consumption expenditure (current lcu) in Faroe Islands stood at 2.89 % change on previous year.
That represents a change of down 48.0% on the previous year and down 3.4% over ten years.
Over the whole period, households and npishs final consumption expenditure (current lcu) in Faroe Islands peaked at 16.98 % change on previous year in 2005 and was at its lowest, -6.55 % change on previous year, in 2010.
That places Faroe Islands 166th out of 189 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.
Households and NPISHs Final consumption expenditure (current LCU) in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 11.24 % change on previous year | — |
| 2000 | 5.58 % change on previous year | -50.4% |
| 2001 | 9.13 % change on previous year | +63.7% |
| 2002 | 5.17 % change on previous year | -43.4% |
| 2003 | 5.64 % change on previous year | +9.1% |
| 2004 | 8.32 % change on previous year | +47.4% |
| 2005 | 16.98 % change on previous year | +104.2% |
| 2006 | 1.14 % change on previous year | -93.3% |
| 2007 | 1.32 % change on previous year | +15.6% |
| 2008 | -1.87 % change on previous year | -241.2% |
| 2009 | 5.11 % change on previous year | -373.4% |
| 2010 | -6.55 % change on previous year | -228.3% |
| 2011 | 4.16 % change on previous year | -163.5% |
| 2012 | 8.33 % change on previous year | +100.3% |
| 2013 | 1.79 % change on previous year | -78.5% |
| 2014 | 2.99 % change on previous year | +66.7% |
| 2015 | 2.1 % change on previous year | -29.8% |
| 2016 | 6.35 % change on previous year | +202.5% |
| 2017 | -1.05 % change on previous year | -116.5% |
| 2018 | 1.48 % change on previous year | -240.9% |
| 2019 | 5.03 % change on previous year | +240.3% |
| 2020 | 2.23 % change on previous year | -55.7% |
| 2021 | 5.22 % change on previous year | +134.2% |
| 2022 | 6.51 % change on previous year | +24.7% |
| 2023 | 5.55 % change on previous year | -14.8% |
| 2024 | 2.89 % change on previous year | -48.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 11.24 % change on previous year | 11.24 % change on previous year | 11.24 % change on previous year | 1 |
| 2000s | 5.65 % change on previous year | -1.87 % change on previous year | 16.98 % change on previous year | 10 |
| 2010s | 2.46 % change on previous year | -6.55 % change on previous year | 8.33 % change on previous year | 10 |
| 2020s | 4.48 % change on previous year | 2.23 % change on previous year | 6.51 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 163 Republic of Korea 3.17 % change on previous year compare
- 164 American Samoa 3.16 % change on previous year compare
- 165 Estonia 2.99 % change on previous year compare
- 167 Hong Kong, China 2.87 % change on previous year compare
- 168 Thailand 2.65 % change on previous year compare
- 169 New Zealand 2.59 % change on previous year compare
More economy & growth data for Faroe Islands
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Imports of goods and services (current US$), per unit of GDP 0.512 current US$ 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 households and npishs final consumption expenditure (current lcu) in Faroe Islands?
- Households and npishs final consumption expenditure (current lcu) in Faroe Islands was 2.89 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest households and npishs final consumption expenditure (current lcu) recorded in Faroe Islands?
- The highest recorded value was 16.98 % change on previous year in 2005.
- What is the lowest households and npishs final consumption expenditure (current lcu) recorded in Faroe Islands?
- The lowest recorded value was -6.55 % change on previous year in 2010.
- How does Faroe Islands rank for households and npishs final consumption expenditure (current lcu)?
- Faroe Islands ranks 166th out of 189 countries with data for 2024.
- Is households and npishs final consumption expenditure (current lcu) rising or falling in Faroe Islands?
- Over the last ten years it is down 3.4%. 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 Households and NPISHs Final consumption expenditure (current LCU), 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 Households and NPISHs Final consumption expenditure (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Households and NPISHs Final consumption expenditure Country official statistics, National Statistical Offices (NSOs)
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 Households and NPISHs Final consumption expenditure (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.