Households and NPISHs final consumption expenditure: linked series in Faroe Islands
Faroe Islands: Households and NPISHs final consumption expenditure: linked series was 11.35 billion current LCU in 2024. ▲ Rising
Households and NPISHs final consumption expenditure: linked series in Faroe Islands, 2008–2024
Source: Staff estimates, World Bank (WB). Measured in current LCU.
Analysis
Faroe Islands recorded 11.35 billion current LCU for households and npishs final consumption expenditure: linked series in 2024. That is the highest value across all 17 years on record.
The figure is up 2.9% on the previous year and up 42.5% over ten years.
Over the whole period, households and npishs final consumption expenditure: linked series in Faroe Islands peaked at 11.35 billion current LCU in 2024 and was at its lowest, 6.73 billion current LCU, in 2010.
Faroe Islands ranks 161st of 187 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Households and NPISHs final consumption expenditure: linked series in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 2008 | 6.85 billion current LCU | — |
| 2009 | 7.20 billion current LCU | +5.1% |
| 2010 | 6.73 billion current LCU | -6.6% |
| 2011 | 7.01 billion current LCU | +4.2% |
| 2012 | 7.60 billion current LCU | +8.3% |
| 2013 | 7.73 billion current LCU | +1.8% |
| 2014 | 7.96 billion current LCU | +3.0% |
| 2015 | 8.13 billion current LCU | +2.1% |
| 2016 | 8.65 billion current LCU | +6.3% |
| 2017 | 8.56 billion current LCU | -1.0% |
| 2018 | 8.68 billion current LCU | +1.5% |
| 2019 | 9.12 billion current LCU | +5.0% |
| 2020 | 9.32 billion current LCU | +2.2% |
| 2021 | 9.81 billion current LCU | +5.2% |
| 2022 | 10.45 billion current LCU | +6.5% |
| 2023 | 11.03 billion current LCU | +5.5% |
| 2024 | 11.35 billion current LCU | +2.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.03 billion current LCU | 6.85 billion current LCU | 7.20 billion current LCU | 2 |
| 2010s | 8.02 billion current LCU | 6.73 billion current LCU | 9.12 billion current LCU | 10 |
| 2020s | 10.39 billion current LCU | 9.32 billion current LCU | 11.35 billion current LCU | 5 |
Countries ranked near Faroe Islands
- 158 Palestine, State of 15.55 billion current LCU compare
- 159 Turkmenistan 15.11 billion current LCU compare
- 160 Jordan 11.90 billion current LCU
- 162 Solomon Islands 10.97 billion current LCU compare
- 163 Malta 10.95 billion current LCU compare
- 164 Papua New Guinea 10.21 billion current LCU
More economy & growth data for Faroe Islands
- Industry (including construction), value added (current LCU), per 1.26 current LCU per US$ of GDP (2024)
- Services, value added (current LCU), annual growth rate 7.22 % change on previous year (2024)
- Services, value added (current US$), per capita 39,926 current US$ per person (2024)
- Services, value added (current US$), per unit of GDP 0.5383 current US$ per US$ of GDP (2024)
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 93,585 current LCU per person (2024)
- Industry (including construction), value added (current US$), per 13,574 current US$ per person (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Industry (including construction), value added (current US$), per 0.183 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is households and npishs final consumption expenditure: linked series in Faroe Islands?
- Households and npishs final consumption expenditure: linked series in Faroe Islands was 11.35 billion current LCU in 2024, according to Staff estimates, World Bank (WB).
- What is the highest households and npishs final consumption expenditure: linked series recorded in Faroe Islands?
- The highest recorded value was 11.35 billion current LCU in 2024.
- What is the lowest households and npishs final consumption expenditure: linked series recorded in Faroe Islands?
- The lowest recorded value was 6.73 billion current LCU in 2010.
- How does Faroe Islands rank for households and npishs final consumption expenditure: linked series?
- Faroe Islands ranks 161st out of 187 countries with data for 2024.
- Is households and npishs final consumption expenditure: linked series rising or falling in Faroe Islands?
- Over the last ten years it is up 42.5%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Households and NPISHs final consumption expenditure: linked series (current LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
This field includes expenditure on goods and services by the Household and NPISH sector for the direct satisfaction of human needs or wants, whether individual or collective. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.