Services, value added (current LCU), per unit of GDP in Faroe Islands
Faroe Islands: Services, value added (current LCU), per unit of GDP was 3.71 current LCU per US$ of GDP in 2024. ▬ Flat
Services, value added (current LCU), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
The most recent figure for services, value added (current lcu), per unit of gdp in Faroe Islands is 3.71 current LCU per US$ of GDP, measured in 2024.
Compared with earlier readings it is up 4.3% on the previous year and up 14.0% over ten years.
Over the whole period, services, value added (current lcu), per unit of gdp in Faroe Islands peaked at 4.23 current LCU per US$ of GDP in 2001 and was at its lowest, 3.01 current LCU per US$ of GDP, in 2008.
Faroe Islands ranks 114th of 204 countries on this measure, in the middle of the range.
Services, value added (current LCU), per unit of GDP in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1998 | 3.45 current LCU per US$ of GDP | — |
| 1999 | 3.64 current LCU per US$ of GDP | +5.5% |
| 2000 | 4.11 current LCU per US$ of GDP | +12.9% |
| 2001 | 4.23 current LCU per US$ of GDP | +2.8% |
| 2002 | 4.1 current LCU per US$ of GDP | -2.9% |
| 2003 | 3.64 current LCU per US$ of GDP | -11.4% |
| 2004 | 3.39 current LCU per US$ of GDP | -6.8% |
| 2005 | 3.45 current LCU per US$ of GDP | +1.9% |
| 2006 | 3.29 current LCU per US$ of GDP | -4.8% |
| 2007 | 3.05 current LCU per US$ of GDP | -7.3% |
| 2008 | 3.01 current LCU per US$ of GDP | -1.1% |
| 2009 | 3.28 current LCU per US$ of GDP | +8.7% |
| 2010 | 3.27 current LCU per US$ of GDP | -0.1% |
| 2011 | 3.17 current LCU per US$ of GDP | -3.3% |
| 2012 | 3.56 current LCU per US$ of GDP | +12.3% |
| 2013 | 3.38 current LCU per US$ of GDP | -4.9% |
| 2014 | 3.26 current LCU per US$ of GDP | -3.8% |
| 2015 | 3.83 current LCU per US$ of GDP | +17.6% |
| 2016 | 3.65 current LCU per US$ of GDP | -4.7% |
| 2017 | 3.55 current LCU per US$ of GDP | -2.7% |
| 2018 | 3.45 current LCU per US$ of GDP | -3.0% |
| 2019 | 3.52 current LCU per US$ of GDP | +2.2% |
| 2020 | 3.5 current LCU per US$ of GDP | -0.7% |
| 2021 | 3.39 current LCU per US$ of GDP | -3.1% |
| 2022 | 3.66 current LCU per US$ of GDP | +7.9% |
| 2023 | 3.56 current LCU per US$ of GDP | -2.7% |
| 2024 | 3.71 current LCU per US$ of GDP | +4.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.54 current LCU per US$ of GDP | 3.45 current LCU per US$ of GDP | 3.64 current LCU per US$ of GDP | 2 |
| 2000s | 3.55 current LCU per US$ of GDP | 3.01 current LCU per US$ of GDP | 4.23 current LCU per US$ of GDP | 10 |
| 2010s | 3.46 current LCU per US$ of GDP | 3.17 current LCU per US$ of GDP | 3.83 current LCU per US$ of GDP | 10 |
| 2020s | 3.56 current LCU per US$ of GDP | 3.39 current LCU per US$ of GDP | 3.71 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 111 Trinidad and Tobago 3.99 current LCU per US$ of GDP compare
- 112 Solomon Islands 3.97 current LCU per US$ of GDP compare
- 113 Tajikistan 3.94 current LCU per US$ of GDP compare
- 115 Bolivia, Plurinational State of 3.69 current LCU per US$ of GDP compare
- 116 Brazil 3.34 current LCU per US$ of GDP compare
- 117 Romania 2.76 current LCU per US$ of GDP compare
More economy & growth data for Faroe Islands
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- Services, value added (current US$), 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 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$), per unit of GDP 0.8819 current US$ per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current US$), per capita 65,417 current US$ per person (2024)
- Gross value added at basic prices (GVA) (current LCU), annual growth 1.67 % change on previous year (2024)
Frequently asked questions
- What is services, value added (current lcu), per unit of gdp in Faroe Islands?
- Services, value added (current lcu), per unit of gdp in Faroe Islands was 3.71 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest services, value added (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 4.23 current LCU per US$ of GDP in 2001.
- What is the lowest services, value added (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 3.01 current LCU per US$ of GDP in 2008.
- How does Faroe Islands rank for services, value added (current lcu), per unit of gdp?
- Faroe Islands ranks 114th out of 204 countries with data for 2024.
- Is services, value added (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 14.0%. The long-run trend across the full record is flat.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Services, value added (current LCU), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Services, value added (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Services, value added (current LCU) ÷ GDP (current US$)
Computed from
- Services, value added Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
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
Services, value added (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.