Industry (including construction) … current LCU rate annual growth in Faroe Islands
Faroe Islands: Industry (including construction) … current LCU rate annual growth was -5.07 % change on previous year in 2024. ◆ Volatile
Industry (including construction), value added (current LCU), annual in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, industry (including construction), value added (current lcu), annual in Faroe Islands stood at -5.07 % change on previous year.
Compared with earlier readings it is down 127.0% on the previous year and down 122.3% over ten years.
Over the whole period, industry (including construction), value added (current lcu), annual in Faroe Islands peaked at 22.78 % change on previous year in 2014 and was at its lowest, -10.65 % change on previous year, in 2009.
Faroe Islands ranks 192nd of 207 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Industry (including construction) … current LCU rate annual growth in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 13.1 % change on previous year | — |
| 2000 | 7.18 % change on previous year | -45.2% |
| 2001 | 16.84 % change on previous year | +134.5% |
| 2002 | 8.46 % change on previous year | -49.8% |
| 2003 | -4.51 % change on previous year | -153.3% |
| 2004 | 0.5586 % change on previous year | -112.4% |
| 2005 | -2.84 % change on previous year | -608.7% |
| 2006 | 11.75 % change on previous year | -513.4% |
| 2007 | 5.66 % change on previous year | -51.8% |
| 2008 | 2.38 % change on previous year | -57.9% |
| 2009 | -10.65 % change on previous year | -546.6% |
| 2010 | -4.99 % change on previous year | -53.1% |
| 2011 | 3.06 % change on previous year | -161.4% |
| 2012 | 3.72 % change on previous year | +21.3% |
| 2013 | 4.58 % change on previous year | +23.3% |
| 2014 | 22.78 % change on previous year | +397.5% |
| 2015 | 11.41 % change on previous year | -49.9% |
| 2016 | 3.49 % change on previous year | -69.4% |
| 2017 | 15.26 % change on previous year | +337.0% |
| 2018 | 5.76 % change on previous year | -62.2% |
| 2019 | 15.61 % change on previous year | +170.8% |
| 2020 | 7.89 % change on previous year | -49.4% |
| 2021 | 0.3806 % change on previous year | -95.2% |
| 2022 | 0.5832 % change on previous year | +53.2% |
| 2023 | 18.75 % change on previous year | +3115.8% |
| 2024 | -5.07 % change on previous year | -127.0% |
Faroe Islands compared with similar countries
- Faroe Islands's -5.07 % change on previous year is below the median for high income countries, which is 3.19 % change on previous year. (77 countries reporting)
- Faroe Islands's -5.07 % change on previous year is below the median for Europe & Central Asia, which is 3.58 % change on previous year. (56 countries reporting)
Biggest year-on-year movements
Years where Industry (including construction) … current LCU rate annual growth in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2023 | +3115.8% | 0.5832 % change on previous year | 18.75 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13.1 % change on previous year | 13.1 % change on previous year | 13.1 % change on previous year | 1 |
| 2000s | 3.48 % change on previous year | -10.65 % change on previous year | 16.84 % change on previous year | 10 |
| 2010s | 8.07 % change on previous year | -4.99 % change on previous year | 22.78 % change on previous year | 10 |
| 2020s | 4.51 % change on previous year | -5.07 % change on previous year | 18.75 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 189 Chad -3.73 % change on previous year compare
- 190 Luxembourg -4.55 % change on previous year compare
- 191 Azerbaijan -5.04 % change on previous year compare
- 193 Lesotho -5.96 % change on previous year compare
- 194 Sint Maarten (Dutch part) -6.51 % change on previous year compare
- 195 Macao -6.66 % change on previous year compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ 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)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is industry (including construction), value added (current lcu), annual in Faroe Islands?
- Industry (including construction), value added (current lcu), annual in Faroe Islands was -5.07 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest industry (including construction), value added (current lcu), annual recorded in Faroe Islands?
- The highest recorded value was 22.78 % change on previous year in 2014.
- What is the lowest industry (including construction), value added (current lcu), annual recorded in Faroe Islands?
- The lowest recorded value was -10.65 % change on previous year in 2009.
- How does Faroe Islands rank for industry (including construction), value added (current lcu), annual?
- Faroe Islands ranks 192nd out of 207 countries with data for 2024.
- Is industry (including construction), value added (current lcu), annual rising or falling in Faroe Islands?
- Over the last ten years it is down 122.3%. 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 Industry (including construction), value added (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Industry (including construction), value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Industry (including construction), value added 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 Industry (including construction), value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.