Taxes less subsidies on products (current LCU), per unit of GDP in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current LCU), per unit of GDP was 0.8141 current LCU per US$ of GDP in 2024. ▼ Falling
Taxes less subsidies on products (current LCU), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
Faroe Islands recorded 0.8141 current LCU per US$ of GDP for taxes less subsidies on products (current lcu), per unit of gdp in 2024.
Compared with earlier readings it is up 9.6% on the previous year and up 28.0% over ten years.
Over the whole period, taxes less subsidies on products (current lcu), per unit of gdp in Faroe Islands peaked at 1.08 current LCU per US$ of GDP in 2000 and was at its lowest, 0.6261 current LCU per US$ of GDP, in 2013.
That places Faroe Islands 99th out of 197 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 27 years of available data.
Taxes less subsidies on products (current LCU), per unit of GDP in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.9024 current LCU per US$ of GDP | — |
| 1999 | 0.9414 current LCU per US$ of GDP | +4.3% |
| 2000 | 1.08 current LCU per US$ of GDP | +14.6% |
| 2001 | 1.05 current LCU per US$ of GDP | -2.5% |
| 2002 | 1.04 current LCU per US$ of GDP | -0.7% |
| 2003 | 0.9209 current LCU per US$ of GDP | -11.8% |
| 2004 | 0.8057 current LCU per US$ of GDP | -12.5% |
| 2005 | 0.8179 current LCU per US$ of GDP | +1.5% |
| 2006 | 0.8323 current LCU per US$ of GDP | +1.8% |
| 2007 | 0.8045 current LCU per US$ of GDP | -3.3% |
| 2008 | 0.7178 current LCU per US$ of GDP | -10.8% |
| 2009 | 0.6933 current LCU per US$ of GDP | -3.4% |
| 2010 | 0.7169 current LCU per US$ of GDP | +3.4% |
| 2011 | 0.6603 current LCU per US$ of GDP | -7.9% |
| 2012 | 0.7062 current LCU per US$ of GDP | +7.0% |
| 2013 | 0.6261 current LCU per US$ of GDP | -11.3% |
| 2014 | 0.6359 current LCU per US$ of GDP | +1.6% |
| 2015 | 0.7355 current LCU per US$ of GDP | +15.7% |
| 2016 | 0.7244 current LCU per US$ of GDP | -1.5% |
| 2017 | 0.7196 current LCU per US$ of GDP | -0.7% |
| 2018 | 0.7078 current LCU per US$ of GDP | -1.6% |
| 2019 | 0.7344 current LCU per US$ of GDP | +3.8% |
| 2020 | 0.7731 current LCU per US$ of GDP | +5.3% |
| 2021 | 0.785 current LCU per US$ of GDP | +1.5% |
| 2022 | 0.8378 current LCU per US$ of GDP | +6.7% |
| 2023 | 0.7426 current LCU per US$ of GDP | -11.4% |
| 2024 | 0.8141 current LCU per US$ of GDP | +9.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.9219 current LCU per US$ of GDP | 0.9024 current LCU per US$ of GDP | 0.9414 current LCU per US$ of GDP | 2 |
| 2000s | 0.8768 current LCU per US$ of GDP | 0.6933 current LCU per US$ of GDP | 1.08 current LCU per US$ of GDP | 10 |
| 2010s | 0.6967 current LCU per US$ of GDP | 0.6261 current LCU per US$ of GDP | 0.7355 current LCU per US$ of GDP | 10 |
| 2020s | 0.7905 current LCU per US$ of GDP | 0.7426 current LCU per US$ of GDP | 0.8378 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 96 Zambia 0.8868 current LCU per US$ of GDP compare
- 97 Japan 0.874 current LCU per US$ of GDP compare
- 98 Ghana 0.8285 current LCU per US$ of GDP compare
- 100 Brazil 0.7836 current LCU per US$ of GDP compare
- 101 Botswana 0.7708 current LCU per US$ of GDP compare
- 102 Denmark 0.7502 current LCU per US$ of GDP compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is taxes less subsidies on products (current lcu), per unit of gdp in Faroe Islands?
- Taxes less subsidies on products (current lcu), per unit of gdp in Faroe Islands was 0.8141 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 1.08 current LCU per US$ of GDP in 2000.
- What is the lowest taxes less subsidies on products (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.6261 current LCU per US$ of GDP in 2013.
- How does Faroe Islands rank for taxes less subsidies on products (current lcu), per unit of gdp?
- Faroe Islands ranks 99th out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 28.0%. The long-run trend across the full record is falling.
- 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 unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Taxes less subsidies on products (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Taxes less subsidies on products (current LCU) ÷ GDP (current US$)
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
- 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
Taxes less subsidies on products (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.