Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands
Faroe Islands: Households and NPISHs Final consumption expenditure (current US$) was 30,122 current US$ per person in 2024. ▲ Rising
Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
The most recent figure for households and npishs final consumption expenditure (current us$) in Faroe Islands is 30,122 current US$ per person, measured in 2024. That is the highest value across all 27 years on record.
Compared with earlier readings it is up 2.4% on the previous year and up 2.8% over ten years.
Over the whole period, households and npishs final consumption expenditure (current us$) in Faroe Islands peaked at 30,122 current US$ per person in 2024 and was at its lowest, 11,995 current US$ per person, in 2000.
That places Faroe Islands 20th out of 190 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 12,618 current US$ per person | — |
| 1999 | 13,341 current US$ per person | +5.7% |
| 2000 | 11,995 current US$ per person | -10.1% |
| 2001 | 12,473 current US$ per person | +4.0% |
| 2002 | 13,625 current US$ per person | +9.2% |
| 2003 | 16,999 current US$ per person | +24.8% |
| 2004 | 20,099 current US$ per person | +18.2% |
| 2005 | 23,500 current US$ per person | +16.9% |
| 2006 | 23,982 current US$ per person | +2.0% |
| 2007 | 26,521 current US$ per person | +10.6% |
| 2008 | 27,692 current US$ per person | +4.4% |
| 2009 | 27,543 current US$ per person | -0.5% |
| 2010 | 24,601 current US$ per person | -10.7% |
| 2011 | 26,907 current US$ per person | +9.4% |
| 2012 | 27,157 current US$ per person | +0.9% |
| 2013 | 28,538 current US$ per person | +5.1% |
| 2014 | 29,300 current US$ per person | +2.7% |
| 2015 | 24,715 current US$ per person | -15.6% |
| 2016 | 25,969 current US$ per person | +5.1% |
| 2017 | 25,824 current US$ per person | -0.6% |
| 2018 | 26,962 current US$ per person | +4.4% |
| 2019 | 26,402 current US$ per person | -2.1% |
| 2020 | 27,112 current US$ per person | +2.7% |
| 2021 | 29,279 current US$ per person | +8.0% |
| 2022 | 27,394 current US$ per person | -6.4% |
| 2023 | 29,427 current US$ per person | +7.4% |
| 2024 | 30,122 current US$ per person | +2.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12,979 current US$ per person | 12,618 current US$ per person | 13,341 current US$ per person | 2 |
| 2000s | 20,443 current US$ per person | 11,995 current US$ per person | 27,692 current US$ per person | 10 |
| 2010s | 26,638 current US$ per person | 24,601 current US$ per person | 29,300 current US$ per person | 10 |
| 2020s | 28,667 current US$ per person | 27,112 current US$ per person | 30,122 current US$ per person | 5 |
Countries ranked near Faroe Islands
- 17 Canada 31,070 current US$ per person compare
- 18 Singapore 30,720 current US$ per person compare
- 19 United States Virgin Islands 30,556 current US$ per person compare
- 21 Israel 29,295 current US$ per person compare
- 22 Sweden 29,028 current US$ per person compare
- 23 Finland 28,507 current US$ per person compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
Frequently asked questions
- What is households and npishs final consumption expenditure (current us$) in Faroe Islands?
- Households and npishs final consumption expenditure (current us$) in Faroe Islands was 30,122 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest households and npishs final consumption expenditure (current us$) recorded in Faroe Islands?
- The highest recorded value was 30,122 current US$ per person in 2024.
- What is the lowest households and npishs final consumption expenditure (current us$) recorded in Faroe Islands?
- The lowest recorded value was 11,995 current US$ per person in 2000.
- How does Faroe Islands rank for households and npishs final consumption expenditure (current us$)?
- Faroe Islands ranks 20th out of 190 countries with data for 2024.
- Is households and npishs final consumption expenditure (current us$) rising or falling in Faroe Islands?
- Over the last ten years it is up 2.8%. 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 Households and NPISHs Final consumption expenditure (current US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Households and NPISHs Final consumption expenditure (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Households and NPISHs Final consumption expenditure (current US$) ÷ Population, total
Computed from
- Households and NPISHs Final consumption expenditure Country official statistics, National Statistical Offices (NSOs)
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Households and NPISHs Final consumption expenditure (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.