Manufacturing value added to gdp, annual growth rate in Faroe Islands
Faroe Islands: Manufacturing value added to gdp, annual growth rate was -16.99 % change on previous year in 2024. ◆ Volatile
Manufacturing value added to gdp, annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Faroe Islands recorded -16.99 % change on previous year for manufacturing value added to gdp, annual growth rate in 2024. That is the lowest value across all 26 years on record.
The figure is down 231.2% on the previous year and down 194.7% over ten years.
Over the whole period, manufacturing value added to gdp, annual growth rate in Faroe Islands peaked at 17.95 % change on previous year in 2014 and was at its lowest, -16.99 % change on previous year, in 2024.
Faroe Islands ranks 194th of 202 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 to gdp, annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 7.34 % change on previous year | — |
| 2000 | -2.87 % change on previous year | -139.1% |
| 2001 | 6.92 % change on previous year | -341.2% |
| 2002 | 0.0941 % change on previous year | -98.6% |
| 2003 | -6.41 % change on previous year | -6910.6% |
| 2004 | -8.9 % change on previous year | +38.8% |
| 2005 | -4.67 % change on previous year | -47.6% |
| 2006 | -2.48 % change on previous year | -46.9% |
| 2007 | 0.1063 % change on previous year | -104.3% |
| 2008 | -0.7922 % change on previous year | -845.0% |
| 2009 | -2.9 % change on previous year | +265.9% |
| 2010 | -4.84 % change on previous year | +66.9% |
| 2011 | -2.7 % change on previous year | -44.3% |
| 2012 | 3.73 % change on previous year | -238.5% |
| 2013 | -6.92 % change on previous year | -285.3% |
| 2014 | 17.95 % change on previous year | -359.4% |
| 2015 | 2.61 % change on previous year | -85.5% |
| 2016 | -11.19 % change on previous year | -529.5% |
| 2017 | 11.56 % change on previous year | -203.3% |
| 2018 | -2.61 % change on previous year | -122.6% |
| 2019 | 15.77 % change on previous year | -703.8% |
| 2020 | 3.85 % change on previous year | -75.6% |
| 2021 | -1.22 % change on previous year | -131.8% |
| 2022 | -5.52 % change on previous year | +350.9% |
| 2023 | 12.95 % change on previous year | -334.8% |
| 2024 | -16.99 % change on previous year | -231.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.34 % change on previous year | 7.34 % change on previous year | 7.34 % change on previous year | 1 |
| 2000s | -2.19 % change on previous year | -8.9 % change on previous year | 6.92 % change on previous year | 10 |
| 2010s | 2.34 % change on previous year | -11.19 % change on previous year | 17.95 % change on previous year | 10 |
| 2020s | -1.39 % change on previous year | -16.99 % change on previous year | 12.95 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 191 Macao -15.06 % change on previous year compare
- 192 Bhutan -15.71 % change on previous year compare
- 193 Eritrea -15.81 % change on previous year compare
- 195 Fiji -19.46 % change on previous year compare
- 196 Suriname -22.18 % change on previous year compare
- 197 Libya -23.21 % change on previous year compare
More economy & growth data for Faroe Islands
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Services, value added (current US$), per unit of GDP 0.5383 current US$ per US$ of GDP (2024)
- Services, value added (current US$), per capita 39,926 current US$ per person (2024)
- Services, value added (current LCU), annual growth rate 7.22 % change on previous year (2024)
- Services, value added (current LCU), per unit of GDP 3.71 current LCU per US$ of GDP (2024)
- Services, value added (current LCU), per capita 275,271 current LCU per person (2024)
- GDP deflator (base year varies by country), annual growth rate 2 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8819 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is manufacturing value added to gdp, annual growth rate in Faroe Islands?
- Manufacturing value added to gdp, annual growth rate in Faroe Islands was -16.99 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest manufacturing value added to gdp, annual growth rate recorded in Faroe Islands?
- The highest recorded value was 17.95 % change on previous year in 2014.
- What is the lowest manufacturing value added to gdp, annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -16.99 % change on previous year in 2024.
- How does Faroe Islands rank for manufacturing value added to gdp, annual growth rate?
- Faroe Islands ranks 194th out of 202 countries with data for 2024.
- Is manufacturing value added to gdp, annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 194.7%. 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 to gdp, 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 to gdp. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Share of manufacturing in gross domestic product (GDP) National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data
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 to gdp. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.