Taxes less subsidies on products (current LCU), per capita in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current LCU), per capita was 60,382 current LCU per person in 2024. ▲ Rising
Taxes less subsidies on products (current LCU), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per person.
Analysis
The most recent figure for taxes less subsidies on products (current lcu), per capita in Faroe Islands is 60,382 current LCU per person, measured in 2024. That is the highest value across all 27 years on record.
The figure is up 12.2% on the previous year and up 57.8% over ten years.
Over the whole period, taxes less subsidies on products (current lcu), per capita in Faroe Islands peaked at 60,382 current LCU per person in 2024 and was at its lowest, 22,315 current LCU per person, in 1998.
That places Faroe Islands 50th out of 197 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Taxes less subsidies on products (current LCU), per capita in Faroe Islands, year by year
| Year | current LCU per person | Change |
|---|---|---|
| 1998 | 22,315 current LCU per person | — |
| 1999 | 23,515 current LCU per person | +5.4% |
| 2000 | 25,163 current LCU per person | +7.0% |
| 2001 | 26,169 current LCU per person | +4.0% |
| 2002 | 28,140 current LCU per person | +7.5% |
| 2003 | 28,795 current LCU per person | +2.3% |
| 2004 | 28,720 current LCU per person | -0.3% |
| 2005 | 29,763 current LCU per person | +3.6% |
| 2006 | 34,745 current LCU per person | +16.7% |
| 2007 | 38,898 current LCU per person | +12.0% |
| 2008 | 36,814 current LCU per person | -5.4% |
| 2009 | 32,626 current LCU per person | -11.4% |
| 2010 | 34,356 current LCU per person | +5.3% |
| 2011 | 34,084 current LCU per person | -0.8% |
| 2012 | 35,498 current LCU per person | +4.1% |
| 2013 | 34,911 current LCU per person | -1.7% |
| 2014 | 38,262 current LCU per person | +9.6% |
| 2015 | 38,713 current LCU per person | +1.2% |
| 2016 | 41,198 current LCU per person | +6.4% |
| 2017 | 42,735 current LCU per person | +3.7% |
| 2018 | 44,256 current LCU per person | +3.6% |
| 2019 | 46,322 current LCU per person | +4.7% |
| 2020 | 48,125 current LCU per person | +3.9% |
| 2021 | 54,497 current LCU per person | +13.2% |
| 2022 | 56,190 current LCU per person | +3.1% |
| 2023 | 53,827 current LCU per person | -4.2% |
| 2024 | 60,382 current LCU per person | +12.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 22,915 current LCU per person | 22,315 current LCU per person | 23,515 current LCU per person | 2 |
| 2000s | 30,983 current LCU per person | 25,163 current LCU per person | 38,898 current LCU per person | 10 |
| 2010s | 39,033 current LCU per person | 34,084 current LCU per person | 46,322 current LCU per person | 10 |
| 2020s | 54,604 current LCU per person | 48,125 current LCU per person | 60,382 current LCU per person | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Manufacturing, value added (current US$), per unit of GDP 0.0946 current US$ per US$ of GDP (2024)
- External balance on goods and services (current US$), annual growth 227.91 % change on previous year (2024)
- External balance on goods and services (current LCU), annual growth 228.14 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual -6.93 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), per 1.11 current LCU per US$ of GDP (2024)
- Agriculture, forestry, and fishing, value added (current LCU), per 82,165 current LCU per person (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
- Industry (including construction), value added (current US$), per 0.183 current US$ per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Imports of goods and services (current LCU), per capita 261,819 current LCU per person (2024)
Frequently asked questions
- What is taxes less subsidies on products (current lcu), per capita in Faroe Islands?
- Taxes less subsidies on products (current lcu), per capita in Faroe Islands was 60,382 current LCU per person in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current lcu), per capita recorded in Faroe Islands?
- The highest recorded value was 60,382 current LCU per person in 2024.
- What is the lowest taxes less subsidies on products (current lcu), per capita recorded in Faroe Islands?
- The lowest recorded value was 22,315 current LCU per person in 1998.
- How does Faroe Islands rank for taxes less subsidies on products (current lcu), per capita?
- Faroe Islands ranks 50th out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current lcu), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 57.8%. The long-run trend across the full record is rising.
- 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), per capita. Statizoid updates them automatically from the source API.
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CSV · JSON — 27 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Taxes less subsidies on products (current LCU) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Taxes less subsidies on products (current LCU) ÷ Population, total
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
- Population, total World Population Prospects, United Nations (UN)
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
Taxes less subsidies on products (current LCU) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.