Taxes less subsidies on products (current US$), annual growth rate in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current US$), annual growth rate was 12.6 % change on previous year in 2024. ◆ Volatile
Taxes less subsidies on products (current US$), annual growth rate in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, taxes less subsidies on products (current us$), annual growth rate in Faroe Islands stood at 12.6 % change on previous year.
That represents a change of up 1,878.6% on the previous year and up 24.9% over ten years.
Over the whole period, taxes less subsidies on products (current us$), annual growth rate in Faroe Islands peaked at 24.44 % change on previous year in 2003 and was at its lowest, -15.3 % change on previous year, in 2009.
That places Faroe Islands 66th out of 197 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes less subsidies on products (current US$), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 2.29 % change on previous year | — |
| 2000 | -6.4 % change on previous year | -380.0% |
| 2001 | 2.95 % change on previous year | -146.1% |
| 2002 | 15.06 % change on previous year | +410.7% |
| 2003 | 24.44 % change on previous year | +62.2% |
| 2004 | 10.48 % change on previous year | -57.1% |
| 2005 | 3.48 % change on previous year | -66.8% |
| 2006 | 17.67 % change on previous year | +408.3% |
| 2007 | 22.41 % change on previous year | +26.8% |
| 2008 | 1.41 % change on previous year | -93.7% |
| 2009 | -15.3 % change on previous year | -1184.6% |
| 2010 | 0.0983 % change on previous year | -100.6% |
| 2011 | 3.68 % change on previous year | +3647.0% |
| 2012 | -3.97 % change on previous year | -207.8% |
| 2013 | 1.34 % change on previous year | -133.7% |
| 2014 | 10.09 % change on previous year | +654.1% |
| 2015 | -14.77 % change on previous year | -246.5% |
| 2016 | 7.59 % change on previous year | -151.4% |
| 2017 | 7.28 % change on previous year | -4.0% |
| 2018 | 10.05 % change on previous year | +38.0% |
| 2019 | 0.641 % change on previous year | -93.6% |
| 2020 | 7.49 % change on previous year | +1068.7% |
| 2021 | 19.47 % change on previous year | +159.9% |
| 2022 | -7.34 % change on previous year | -137.7% |
| 2023 | -0.7084 % change on previous year | -90.3% |
| 2024 | 12.6 % change on previous year | -1878.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.29 % change on previous year | 2.29 % change on previous year | 2.29 % change on previous year | 1 |
| 2000s | 7.62 % change on previous year | -15.3 % change on previous year | 24.44 % change on previous year | 10 |
| 2010s | 2.2 % change on previous year | -14.77 % change on previous year | 10.09 % change on previous year | 10 |
| 2020s | 6.3 % change on previous year | -7.34 % change on previous year | 19.47 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 63 Latvia 12.94 % change on previous year compare
- 64 Kosovo 12.75 % change on previous year compare
- 65 Estonia 12.66 % change on previous year compare
- 67 Hungary 12.56 % change on previous year compare
- 68 Portugal 12.47 % change on previous year compare
- 69 Antigua and Barbuda 12.43 % change on previous year compare
More economy & growth data for Faroe Islands
- Agriculture, forestry, and fishing, value added (current LCU), per 82,165 current LCU per person (2024)
- Imports of goods and services (current LCU), per unit of GDP 3.53 current LCU per US$ of GDP (2024)
- Imports of goods and services (current LCU), per capita 261,819 current LCU per person (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)
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
Frequently asked questions
- What is taxes less subsidies on products (current us$), annual growth rate in Faroe Islands?
- Taxes less subsidies on products (current us$), annual growth rate in Faroe Islands was 12.6 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current us$), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 24.44 % change on previous year in 2003.
- What is the lowest taxes less subsidies on products (current us$), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -15.3 % change on previous year in 2009.
- How does Faroe Islands rank for taxes less subsidies on products (current us$), annual growth rate?
- Faroe Islands ranks 66th out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current us$), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is up 24.9%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Taxes less subsidies on products (current US$), 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 US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Taxes less subsidies on products (current US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.