Services, value added (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Services, value added (current US$), per unit of GDP was 0.5383 current US$ per US$ of GDP in 2024. ▬ Flat
Services, value added (current US$), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
Faroe Islands recorded 0.5383 current US$ per US$ of GDP for services, value added (current us$), per unit of gdp in 2024.
Compared with earlier readings it is up 4.2% on the previous year and down 7.2% over ten years.
Over the whole period, services, value added (current us$), per unit of gdp in Faroe Islands peaked at 0.6139 current US$ per US$ of GDP in 2012 and was at its lowest, 0.5077 current US$ per US$ of GDP, in 2001.
That places Faroe Islands 130th out of 204 countries with data for 2024, putting it in the middle of the range.
Services, value added (current US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.5144 current US$ per US$ of GDP | — |
| 1999 | 0.5215 current US$ per US$ of GDP | +1.4% |
| 2000 | 0.5083 current US$ per US$ of GDP | -2.5% |
| 2001 | 0.5077 current US$ per US$ of GDP | -0.1% |
| 2002 | 0.5196 current US$ per US$ of GDP | +2.3% |
| 2003 | 0.552 current US$ per US$ of GDP | +6.2% |
| 2004 | 0.5655 current US$ per US$ of GDP | +2.5% |
| 2005 | 0.5758 current US$ per US$ of GDP | +1.8% |
| 2006 | 0.5528 current US$ per US$ of GDP | -4.0% |
| 2007 | 0.5597 current US$ per US$ of GDP | +1.2% |
| 2008 | 0.5908 current US$ per US$ of GDP | +5.6% |
| 2009 | 0.611 current US$ per US$ of GDP | +3.4% |
| 2010 | 0.582 current US$ per US$ of GDP | -4.7% |
| 2011 | 0.5897 current US$ per US$ of GDP | +1.3% |
| 2012 | 0.6139 current US$ per US$ of GDP | +4.1% |
| 2013 | 0.6024 current US$ per US$ of GDP | -1.9% |
| 2014 | 0.5801 current US$ per US$ of GDP | -3.7% |
| 2015 | 0.5692 current US$ per US$ of GDP | -1.9% |
| 2016 | 0.5423 current US$ per US$ of GDP | -4.7% |
| 2017 | 0.5382 current US$ per US$ of GDP | -0.8% |
| 2018 | 0.5458 current US$ per US$ of GDP | +1.4% |
| 2019 | 0.5282 current US$ per US$ of GDP | -3.2% |
| 2020 | 0.5348 current US$ per US$ of GDP | +1.2% |
| 2021 | 0.5391 current US$ per US$ of GDP | +0.8% |
| 2022 | 0.5169 current US$ per US$ of GDP | -4.1% |
| 2023 | 0.5164 current US$ per US$ of GDP | -0.1% |
| 2024 | 0.5383 current US$ per US$ of GDP | +4.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.518 current US$ per US$ of GDP | 0.5144 current US$ per US$ of GDP | 0.5215 current US$ per US$ of GDP | 2 |
| 2000s | 0.5543 current US$ per US$ of GDP | 0.5077 current US$ per US$ of GDP | 0.611 current US$ per US$ of GDP | 10 |
| 2010s | 0.5692 current US$ per US$ of GDP | 0.5282 current US$ per US$ of GDP | 0.6139 current US$ per US$ of GDP | 10 |
| 2020s | 0.5291 current US$ per US$ of GDP | 0.5164 current US$ per US$ of GDP | 0.5391 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 127 Bahrain 0.5432 current US$ per US$ of GDP compare
- 128 Congo 0.5428 current US$ per US$ of GDP compare
- 129 Haiti 0.5419 current US$ per US$ of GDP compare
- 131 Bolivia, Plurinational State of 0.5336 current US$ per US$ of GDP compare
- 132 Bhutan 0.5316 current US$ per US$ of GDP compare
- 133 Gambia 0.5307 current US$ 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$), per capita 39,926 current US$ 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$), per unit of GDP 0.8819 current US$ 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 us$), per unit of gdp in Faroe Islands?
- Services, value added (current us$), per unit of gdp in Faroe Islands was 0.5383 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest services, value added (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.6139 current US$ per US$ of GDP in 2012.
- What is the lowest services, value added (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.5077 current US$ per US$ of GDP in 2001.
- How does Faroe Islands rank for services, value added (current us$), per unit of gdp?
- Faroe Islands ranks 130th out of 204 countries with data for 2024.
- Is services, value added (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is down 7.2%. 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 US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Services, value added (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Services, value added (current US$) ÷ GDP (current US$)
Computed from
- Services, value added Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Services, value added (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.