Government consumption in US dollars in the Faroe Islands in 2024 — 1,129,207,482 US$. Ranked 143 in the world out of 168. Since 1998, the indicator has risen by 306.2%.
1998–2024 · US$
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | US$ | Change | Change, % |
|---|---|---|---|
| 2024 | 1.13B | +65.68M | +6.18% |
| 2023 | 1.06B | +89.36M | +9.17% |
| 2022 | 974M | −79.66M | −7.56% |
| 2021 | 1.05B | +86.83M | +8.98% |
| 2020 | 967M | +65.16M | +7.23% |
| 2019 | 902M | −3.88M | −0.43% |
| 2018 | 906M | +84.24M | +10.25% |
| 2017 | 821M | +43.4M | +5.58% |
| 2016 | 778M | +50.76M | +6.98% |
| 2015 | 727M | −114M | −13.52% |
| 2014 | 841M | +23.26M | +2.84% |
| 2013 | 818M | +47.12M | +6.11% |
| 2012 | 771M | −46.1M | −5.64% |
| 2011 | 817M | +50.01M | +6.52% |
| 2010 | 767M | −1.91M | −0.25% |
| 2009 | 769M | −12.8M | −1.64% |
| 2008 | 781M | +121M | +18.28% |
| 2007 | 661M | +102M | +18.33% |
| 2006 | 558M | +25.63M | +4.81% |
| 2005 | 533M | +25.74M | +5.08% |
| 2004 | 507M | +72.27M | +16.62% |
| 2003 | 435M | +95.25M | +28.06% |
| 2002 | 339M | +43.33M | +14.63% |
| 2001 | 296M | +22.67M | +8.29% |
| 2000 | 273M | −18.56M | −6.36% |
| 1999 | 292M | +14.01M | +5.04% |
| 1998 | 278M | — | — |
The same indicator for neighboring countries — with links to their pages
Government final consumption expenditure in current US dollars: compensation of employees in the public sector, purchases of goods and services for the current work of the state, and spending on defense and security. This is not the whole budget: pensions, benefits and other transfers are left out because they are recorded as household income, while public investment is recorded as capital formation. The quantity therefore comes to roughly two thirds of total budget expense, not all of it.
Important: Not to be confused with budget expense: transfers and capital outlays are not counted here. This same indicator serves as the weight when aggregating military spending as a share of government spending.
Source: World Development Indicators (World Bank), license CC BY 4.0.
The share of GDP taken by government final consumption spending.
Economy Household consumptionHow much money the residents of a country spend in a year on goods and services for themselves.
Economy GDPGross domestic product in current US dollars — the size of a country's economy.
Economy GDP per capitaGDP divided by the population, in current US dollars.
Economy GDP growthThe annual growth rate of GDP in constant prices — with inflation stripped out.
