Taxes less subsidies on products (current US$), per capita in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current US$), per capita was 8,758 current US$ per person in 2024. ▲ Rising
Taxes less subsidies on products (current US$), per capita in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
The most recent figure for taxes less subsidies on products (current us$), per capita in Faroe Islands is 8,758 current US$ per person, measured in 2024. That is the highest value across all 27 years on record.
That represents a change of up 12.1% on the previous year and up 28.5% over ten years.
Over the whole period, taxes less subsidies on products (current us$), per capita in Faroe Islands peaked at 8,758 current US$ per person in 2024 and was at its lowest, 3,113 current US$ per person, in 2000.
That places Faroe Islands 3rd out of 197 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 27 years of available data.
Taxes less subsidies on products (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1998 | 3,330 current US$ per person | — |
| 1999 | 3,371 current US$ per person | +1.2% |
| 2000 | 3,113 current US$ per person | -7.6% |
| 2001 | 3,144 current US$ per person | +1.0% |
| 2002 | 3,564 current US$ per person | +13.4% |
| 2003 | 4,371 current US$ per person | +22.6% |
| 2004 | 4,794 current US$ per person | +9.7% |
| 2005 | 4,963 current US$ per person | +3.5% |
| 2006 | 5,843 current US$ per person | +17.7% |
| 2007 | 7,145 current US$ per person | +22.3% |
| 2008 | 7,221 current US$ per person | +1.1% |
| 2009 | 6,086 current US$ per person | -15.7% |
| 2010 | 6,109 current US$ per person | +0.4% |
| 2011 | 6,349 current US$ per person | +3.9% |
| 2012 | 6,128 current US$ per person | -3.5% |
| 2013 | 6,216 current US$ per person | +1.4% |
| 2014 | 6,817 current US$ per person | +9.7% |
| 2015 | 5,754 current US$ per person | -15.6% |
| 2016 | 6,120 current US$ per person | +6.4% |
| 2017 | 6,472 current US$ per person | +5.8% |
| 2018 | 7,008 current US$ per person | +8.3% |
| 2019 | 6,945 current US$ per person | -0.9% |
| 2020 | 7,356 current US$ per person | +5.9% |
| 2021 | 8,668 current US$ per person | +17.8% |
| 2022 | 7,941 current US$ per person | -8.4% |
| 2023 | 7,813 current US$ per person | -1.6% |
| 2024 | 8,758 current US$ per person | +12.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3,350 current US$ per person | 3,330 current US$ per person | 3,371 current US$ per person | 2 |
| 2000s | 5,024 current US$ per person | 3,113 current US$ per person | 7,221 current US$ per person | 10 |
| 2010s | 6,392 current US$ per person | 5,754 current US$ per person | 7,008 current US$ per person | 10 |
| 2020s | 8,107 current US$ per person | 7,356 current US$ per person | 8,758 current US$ per person | 5 |
Countries ranked near Faroe Islands
- 1 Luxembourg 13,908 current US$ per person compare
- 2 Iceland 9,894 current US$ per person compare
- 4 Denmark 8,720 current US$ per person compare
- 5 Norway 8,374 current US$ per person compare
- 6 Netherlands 7,536 current US$ per person compare
More economy & growth data for Faroe Islands
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 93,585 current LCU per person (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Industry (including construction), value added (current LCU), annual -5.07 % change on previous year (2024)
- Industry (including construction), value added (current US$), per 13,574 current US$ 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$), annual -5.14 % change on previous year (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
- External balance on goods and services (current LCU), annual growth 228.14 % change on previous year (2024)
Frequently asked questions
- What is taxes less subsidies on products (current us$), per capita in Faroe Islands?
- Taxes less subsidies on products (current us$), per capita in Faroe Islands was 8,758 current US$ per person in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 8,758 current US$ per person in 2024.
- What is the lowest taxes less subsidies on products (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 3,113 current US$ per person in 2000.
- How does Faroe Islands rank for taxes less subsidies on products (current us$), per capita?
- Faroe Islands ranks 3rd out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 28.5%. 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 US$), per capita. Statizoid updates them automatically from the source API.
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How this figure is calculated
Taxes less subsidies on products (current US$) 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 US$) ÷ Population, total
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Taxes less subsidies on products (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.