Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands
Faroe Islands: Households and NPISHs Final consumption expenditure (current US$) was 1.17 million current US$ per square kilometre in 2023. ▲ Rising
Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands, 1998–2023
Source: Statizoid (derived). Measured in current US$ per square kilometre.
Analysis
In 2023, households and npishs final consumption expenditure (current us$) in Faroe Islands stood at 1.17 million current US$ per square kilometre. That is the highest value across all 26 years on record.
That represents a change of up 8.4% on the previous year and up 18.5% over ten years.
Over the whole period, households and npishs final consumption expenditure (current us$) in Faroe Islands peaked at 1.17 million current US$ per square kilometre in 2023 and was at its lowest, 393,138 current US$ per square kilometre, in 2000.
Faroe Islands ranks 50th of 188 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 26 years of available data.
Households and NPISHs Final consumption expenditure (current US$) in Faroe Islands, year by year
| Year | current US$ per square kilometre | Change |
|---|---|---|
| 1998 | 403,780 current US$ per square kilometre | — |
| 1999 | 431,448 current US$ per square kilometre | +6.9% |
| 2000 | 393,138 current US$ per square kilometre | -8.9% |
| 2001 | 416,683 current US$ per square kilometre | +6.0% |
| 2002 | 461,990 current US$ per square kilometre | +10.9% |
| 2003 | 584,882 current US$ per square kilometre | +26.6% |
| 2004 | 696,609 current US$ per square kilometre | +19.1% |
| 2005 | 814,076 current US$ per square kilometre | +16.9% |
| 2006 | 830,337 current US$ per square kilometre | +2.0% |
| 2007 | 919,069 current US$ per square kilometre | +10.7% |
| 2008 | 963,030 current US$ per square kilometre | +4.8% |
| 2009 | 962,615 current US$ per square kilometre | -0.0% |
| 2010 | 857,450 current US$ per square kilometre | -10.9% |
| 2011 | 935,602 current US$ per square kilometre | +9.1% |
| 2012 | 939,420 current US$ per square kilometre | +0.4% |
| 2013 | 986,254 current US$ per square kilometre | +5.0% |
| 2014 | 1.02 million current US$ per square kilometre | +3.1% |
| 2015 | 865,702 current US$ per square kilometre | -14.8% |
| 2016 | 920,122 current US$ per square kilometre | +6.3% |
| 2017 | 928,231 current US$ per square kilometre | +0.9% |
| 2018 | 984,957 current US$ per square kilometre | +6.1% |
| 2019 | 979,477 current US$ per square kilometre | -0.6% |
| 2020 | 1.04 million current US$ per square kilometre | +6.5% |
| 2021 | 1.14 million current US$ per square kilometre | +9.2% |
| 2022 | 1.08 million current US$ per square kilometre | -5.4% |
| 2023 | 1.17 million current US$ per square kilometre | +8.4% |
Faroe Islands compared with similar countries
- Faroe Islands's 1.17 million current US$ per square kilometre is below the median for high income countries, which is 1.88 million current US$ per square kilometre, 62% of the median. (70 countries reporting)
- Faroe Islands's 1.17 million current US$ per square kilometre is above the median for Europe & Central Asia, which is 719,193 current US$ per square kilometre, 1.6× the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 417,614 current US$ per square kilometre | 403,780 current US$ per square kilometre | 431,448 current US$ per square kilometre | 2 |
| 2000s | 704,243 current US$ per square kilometre | 393,138 current US$ per square kilometre | 963,030 current US$ per square kilometre | 10 |
| 2010s | 941,364 current US$ per square kilometre | 857,450 current US$ per square kilometre | 1.02 million current US$ per square kilometre | 10 |
| 2020s | 1.11 million current US$ per square kilometre | 1.04 million current US$ per square kilometre | 1.17 million current US$ per square kilometre | 4 |
Countries ranked near Faroe Islands
- 47 El Salvador 1.34 million current US$ per square kilometre compare
- 48 Greece 1.30 million current US$ per square kilometre compare
- 49 French Polynesia 1.30 million current US$ per square kilometre compare
- 51 Hungary 1.15 million current US$ per square kilometre compare
- 52 Philippines 1.12 million current US$ per square kilometre compare
- 53 Costa Rica 1.12 million current US$ per square kilometre compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ 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$), per capita 40,467 current US$ per person (2024)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU 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 us$) in Faroe Islands?
- Households and npishs final consumption expenditure (current us$) in Faroe Islands was 1.17 million current US$ per square kilometre in 2023, according to Statizoid (derived).
- What is the highest households and npishs final consumption expenditure (current us$) recorded in Faroe Islands?
- The highest recorded value was 1.17 million current US$ per square kilometre in 2023.
- What is the lowest households and npishs final consumption expenditure (current us$) recorded in Faroe Islands?
- The lowest recorded value was 393,138 current US$ per square kilometre in 2000.
- How does Faroe Islands rank for households and npishs final consumption expenditure (current us$)?
- Faroe Islands ranks 50th out of 188 countries with data for 2023.
- Is households and npishs final consumption expenditure (current us$) rising or falling in Faroe Islands?
- Over the last ten years it is up 18.5%. 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$), per square kilometre. Statizoid updates them automatically from the source API.
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How this figure is calculated
Households and NPISHs Final consumption expenditure (current US$) divided by Land area (sq. km), 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$) ÷ Land area (sq. km)
Computed from
- Households and NPISHs Final consumption expenditure Country official statistics, National Statistical Offices (NSOs)
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Households and NPISHs Final consumption expenditure (current US$) 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.