Manufacturing, value added (current LCU), annual growth rate in Faroe Islands
Faroe Islands: Manufacturing, value added (current LCU), annual growth rate was -14.62 % change on previous year in 2024. ◆ Volatile
Manufacturing, value added (current LCU), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, manufacturing, value added (current lcu), annual growth rate in Faroe Islands stood at -14.62 % change on previous year. That is the lowest value across all 26 years on record.
Compared with earlier readings it is down 173.3% on the previous year and down 152.8% over ten years.
Over the whole period, manufacturing, value added (current lcu), annual growth rate in Faroe Islands peaked at 27.68 % change on previous year in 2014 and was at its lowest, -14.62 % change on previous year, in 2024.
Faroe Islands ranks 197th of 203 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Manufacturing, value added (current LCU), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 14.07 % change on previous year | — |
| 2000 | 6.5 % change on previous year | -53.8% |
| 2001 | 19.71 % change on previous year | +203.4% |
| 2002 | 4.34 % change on previous year | -78.0% |
| 2003 | -8.01 % change on previous year | -284.6% |
| 2004 | -4.86 % change on previous year | -39.4% |
| 2005 | -2.64 % change on previous year | -45.7% |
| 2006 | 10.88 % change on previous year | -512.4% |
| 2007 | 6.23 % change on previous year | -42.7% |
| 2008 | -1.1 % change on previous year | -117.6% |
| 2009 | -5.84 % change on previous year | +432.2% |
| 2010 | 1.39 % change on previous year | -123.7% |
| 2011 | -0.186 % change on previous year | -113.4% |
| 2012 | 8.41 % change on previous year | -4623.4% |
| 2013 | 0.0258 % change on previous year | -99.7% |
| 2014 | 27.68 % change on previous year | +107239.1% |
| 2015 | 8.64 % change on previous year | -68.8% |
| 2016 | -2.87 % change on previous year | -133.3% |
| 2017 | 15.91 % change on previous year | -653.4% |
| 2018 | -0.3467 % change on previous year | -102.2% |
| 2019 | 25.26 % change on previous year | -7387.2% |
| 2020 | 2.04 % change on previous year | -91.9% |
| 2021 | 7.34 % change on previous year | +260.2% |
| 2022 | 3.92 % change on previous year | -46.6% |
| 2023 | 19.95 % change on previous year | +409.4% |
| 2024 | -14.62 % change on previous year | -173.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 14.07 % change on previous year | 14.07 % change on previous year | 14.07 % change on previous year | 1 |
| 2000s | 2.52 % change on previous year | -8.01 % change on previous year | 19.71 % change on previous year | 10 |
| 2010s | 8.39 % change on previous year | -2.87 % change on previous year | 27.68 % change on previous year | 10 |
| 2020s | 3.72 % change on previous year | -14.62 % change on previous year | 19.95 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 194 Suriname -10.7 % change on previous year compare
- 195 Iraq -11.05 % change on previous year compare
- 196 Palestine, State of -11.6 % change on previous year compare
- 198 Fiji -15.22 % change on previous year compare
- 199 Equatorial Guinea -19.76 % change on previous year compare
- 200 Burkina Faso -20.16 % change on previous year compare
More economy & growth data for Faroe Islands
- Industry (including construction), value added (current US$), per 13,574 current US$ per person (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)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 93,585 current LCU per person (2024)
- Industry (including construction), value added (current LCU), per 1.26 current LCU per US$ of GDP (2024)
- Industry (including construction), value added (current LCU), annual -5.07 % change on previous year (2024)
- Manufacturing, value added (current US$), per capita 7,019 current US$ per person (2024)
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is manufacturing, value added (current lcu), annual growth rate in Faroe Islands?
- Manufacturing, value added (current lcu), annual growth rate in Faroe Islands was -14.62 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest manufacturing, value added (current lcu), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 27.68 % change on previous year in 2014.
- What is the lowest manufacturing, value added (current lcu), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -14.62 % change on previous year in 2024.
- How does Faroe Islands rank for manufacturing, value added (current lcu), annual growth rate?
- Faroe Islands ranks 197th out of 203 countries with data for 2024.
- Is manufacturing, value added (current lcu), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 152.8%. 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 Manufacturing, value added (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 Manufacturing, value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Manufacturing, 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 Manufacturing, value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.