Household consumption in the Faroe Islands in 2024 — 1,645,838,072 US$. Ranked 155 in the world out of 167. Since 1998, the indicator has risen by 192%.
1998–2024 · US$
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | US$ | Change | Change, % |
|---|---|---|---|
| 2024 | 1.65B | +45.09M | +2.82% |
| 2023 | 1.6B | +124M | +8.41% |
| 2022 | 1.48B | −83.67M | −5.36% |
| 2021 | 1.56B | +135M | +9.49% |
| 2020 | 1.43B | +57.7M | +4.22% |
| 2019 | 1.37B | −7.65M | −0.56% |
| 2018 | 1.37B | +79.19M | +6.11% |
| 2017 | 1.3B | +11.32M | +0.88% |
| 2016 | 1.28B | +75.97M | +6.29% |
| 2015 | 1.21B | −210M | −14.83% |
| 2014 | 1.42B | +42.12M | +3.06% |
| 2013 | 1.38B | +65.39M | +4.99% |
| 2012 | 1.31B | +5.32M | +0.41% |
| 2011 | 1.31B | +109M | +9.12% |
| 2010 | 1.2B | −147M | −10.93% |
| 2009 | 1.34B | −582,158 | −0.04% |
| 2008 | 1.34B | +61.37M | +4.78% |
| 2007 | 1.28B | +124M | +10.69% |
| 2006 | 1.16B | +22.7M | +2% |
| 2005 | 1.14B | +164M | +16.86% |
| 2004 | 972M | +156M | +19.1% |
| 2003 | 816M | +172M | +26.6% |
| 2002 | 645M | +63.25M | +10.87% |
| 2001 | 582M | +32.87M | +5.99% |
| 2000 | 549M | −53.48M | −8.88% |
| 1999 | 602M | +38.62M | +6.85% |
| 1998 | 564M | — | — |
The same indicator for neighboring countries — with links to their pages
Household final consumption expenditure in current US dollars — everything people buy for themselves, from food and housing to services. This is the largest part of GDP in almost any country, usually between half and three quarters, and in absolute terms it sets the size of the consumer market. For gauging the capacity of a market the indicator is more useful than GDP: it includes neither government spending nor investment nor exports.
Important: It includes the imputed value of living in owner-occupied housing and other imputed services — computed quantities that statistical offices estimate unevenly.
Source: World Development Indicators (World Bank), license CC BY 4.0.
What share of GDP is made up of household final consumption spending.
Economy Government consumption in US dollarsHow much the state spends on running itself: public sector wages, purchases, defense.
Economy Gross capital formation in US dollarsHow much a country puts in each year into buildings, equipment, infrastructure and inventories.
Economy GDPGross domestic product in current US dollars — the size of a country's economy.
