Taxes less subsidies on products (current LCU), annual growth rate in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current LCU), annual growth rate was 12.68 % change on previous year in 2024. ◆ Volatile
Taxes less subsidies on products (current LCU), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Faroe Islands recorded 12.68 % change on previous year for taxes less subsidies on products (current lcu), annual growth rate in 2024.
That represents a change of up 481.3% on the previous year and up 26.6% over ten years.
Over the whole period, taxes less subsidies on products (current lcu), annual growth rate in Faroe Islands peaked at 16.68 % change on previous year in 2006 and was at its lowest, -10.93 % change on previous year, in 2009.
That places Faroe Islands 56th out of 197 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes less subsidies on products (current LCU), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 6.49 % change on previous year | — |
| 2000 | 8.45 % change on previous year | +30.2% |
| 2001 | 6 % change on previous year | -29.0% |
| 2002 | 9.14 % change on previous year | +52.4% |
| 2003 | 3.84 % change on previous year | -58.0% |
| 2004 | 0.47 % change on previous year | -87.7% |
| 2005 | 3.58 % change on previous year | +661.0% |
| 2006 | 16.68 % change on previous year | +366.4% |
| 2007 | 12.05 % change on previous year | -27.8% |
| 2008 | -5.03 % change on previous year | -141.7% |
| 2009 | -10.93 % change on previous year | +117.5% |
| 2010 | 5.01 % change on previous year | -145.9% |
| 2011 | -1.02 % change on previous year | -120.4% |
| 2012 | 3.61 % change on previous year | -452.7% |
| 2013 | -1.74 % change on previous year | -148.3% |
| 2014 | 10.01 % change on previous year | -673.9% |
| 2015 | 2.16 % change on previous year | -78.4% |
| 2016 | 7.65 % change on previous year | +253.4% |
| 2017 | 5.23 % change on previous year | -31.6% |
| 2018 | 5.25 % change on previous year | +0.3% |
| 2019 | 6.3 % change on previous year | +20.0% |
| 2020 | 5.44 % change on previous year | -13.6% |
| 2021 | 14.81 % change on previous year | +172.3% |
| 2022 | 4.29 % change on previous year | -71.0% |
| 2023 | -3.32 % change on previous year | -177.5% |
| 2024 | 12.68 % change on previous year | -481.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.49 % change on previous year | 6.49 % change on previous year | 6.49 % change on previous year | 1 |
| 2000s | 4.43 % change on previous year | -10.93 % change on previous year | 16.68 % change on previous year | 10 |
| 2010s | 4.25 % change on previous year | -1.74 % change on previous year | 10.01 % change on previous year | 10 |
| 2020s | 6.78 % change on previous year | -3.32 % change on previous year | 14.81 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 53 Turks and Caicos Islands 13.69 % change on previous year compare
- 54 Burkina Faso 12.93 % change on previous year compare
- 55 Bulgaria 12.88 % change on previous year compare
- 57 Antigua and Barbuda 12.43 % change on previous year compare
- 58 Lao People's Democratic Republic 12.43 % change on previous year compare
- 59 Curaçao 12.24 % change on previous year compare
More economy & growth data for Faroe Islands
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Gross capital formation (current LCU), per capita 144,061 current LCU per person (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Imports of goods and services (current US$), annual growth rate -6.27 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is taxes less subsidies on products (current lcu), annual growth rate in Faroe Islands?
- Taxes less subsidies on products (current lcu), annual growth rate in Faroe Islands was 12.68 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current lcu), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 16.68 % change on previous year in 2006.
- What is the lowest taxes less subsidies on products (current lcu), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -10.93 % change on previous year in 2009.
- How does Faroe Islands rank for taxes less subsidies on products (current lcu), annual growth rate?
- Faroe Islands ranks 56th out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current lcu), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is up 26.6%. 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 Taxes less subsidies on products (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 Taxes less subsidies on products (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Taxes less subsidies on products 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
The year-on-year percentage change in Taxes less subsidies on products (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.