Taxes less subsidies on products (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Taxes less subsidies on products (current US$), per unit of GDP was 0.1181 current US$ per US$ of GDP in 2024. ▼ Falling
Taxes less subsidies on products (current US$), per unit of GDP in Faroe Islands, 1998–2024
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
In 2024, taxes less subsidies on products (current us$), per unit of gdp in Faroe Islands stood at 0.1181 current US$ per US$ of GDP.
That represents a change of up 9.5% on the previous year and up 4.2% over ten years.
Over the whole period, taxes less subsidies on products (current us$), per unit of gdp in Faroe Islands peaked at 0.1478 current US$ per US$ of GDP in 2007 and was at its lowest, 0.1076 current US$ per US$ of GDP, in 2016.
Faroe Islands ranks 51st of 197 countries on this measure, 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 US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.1347 current US$ per US$ of GDP | — |
| 1999 | 0.1349 current US$ per US$ of GDP | +0.2% |
| 2000 | 0.1335 current US$ per US$ of GDP | -1.1% |
| 2001 | 0.1264 current US$ per US$ of GDP | -5.3% |
| 2002 | 0.1323 current US$ per US$ of GDP | +4.7% |
| 2003 | 0.1398 current US$ per US$ of GDP | +5.6% |
| 2004 | 0.1345 current US$ per US$ of GDP | -3.8% |
| 2005 | 0.1364 current US$ per US$ of GDP | +1.4% |
| 2006 | 0.14 current US$ per US$ of GDP | +2.6% |
| 2007 | 0.1478 current US$ per US$ of GDP | +5.6% |
| 2008 | 0.1408 current US$ per US$ of GDP | -4.7% |
| 2009 | 0.1293 current US$ per US$ of GDP | -8.1% |
| 2010 | 0.1275 current US$ per US$ of GDP | -1.4% |
| 2011 | 0.123 current US$ per US$ of GDP | -3.5% |
| 2012 | 0.1219 current US$ per US$ of GDP | -0.9% |
| 2013 | 0.1115 current US$ per US$ of GDP | -8.6% |
| 2014 | 0.1133 current US$ per US$ of GDP | +1.6% |
| 2015 | 0.1093 current US$ per US$ of GDP | -3.5% |
| 2016 | 0.1076 current US$ per US$ of GDP | -1.6% |
| 2017 | 0.109 current US$ per US$ of GDP | +1.3% |
| 2018 | 0.1121 current US$ per US$ of GDP | +2.9% |
| 2019 | 0.1101 current US$ per US$ of GDP | -1.8% |
| 2020 | 0.1182 current US$ per US$ of GDP | +7.3% |
| 2021 | 0.1249 current US$ per US$ of GDP | +5.7% |
| 2022 | 0.1184 current US$ per US$ of GDP | -5.2% |
| 2023 | 0.1078 current US$ per US$ of GDP | -9.0% |
| 2024 | 0.1181 current US$ per US$ of GDP | +9.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.1348 current US$ per US$ of GDP | 0.1347 current US$ per US$ of GDP | 0.1349 current US$ per US$ of GDP | 2 |
| 2000s | 0.1361 current US$ per US$ of GDP | 0.1264 current US$ per US$ of GDP | 0.1478 current US$ per US$ of GDP | 10 |
| 2010s | 0.1145 current US$ per US$ of GDP | 0.1076 current US$ per US$ of GDP | 0.1275 current US$ per US$ of GDP | 10 |
| 2020s | 0.1175 current US$ per US$ of GDP | 0.1078 current US$ per US$ of GDP | 0.1249 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 48 Nepal 0.1202 current US$ per US$ of GDP compare
- 49 Poland 0.1197 current US$ per US$ of GDP compare
- 50 Morocco 0.119 current US$ per US$ of GDP compare
- 52 Central African Republic 0.1172 current US$ per US$ of GDP compare
- 53 Antigua and Barbuda 0.1168 current US$ per US$ of GDP compare
- 54 Sri Lanka 0.1157 current US$ 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 us$), per unit of gdp in Faroe Islands?
- Taxes less subsidies on products (current us$), per unit of gdp in Faroe Islands was 0.1181 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.1478 current US$ per US$ of GDP in 2007.
- What is the lowest taxes less subsidies on products (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.1076 current US$ per US$ of GDP in 2016.
- How does Faroe Islands rank for taxes less subsidies on products (current us$), per unit of gdp?
- Faroe Islands ranks 51st out of 197 countries with data for 2024.
- Is taxes less subsidies on products (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 4.2%. 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 US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Taxes less subsidies on products (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Taxes less subsidies on products (current US$) ÷ GDP (current US$)
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Taxes less subsidies on products (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.