Services share of GDP in the Faroe Islands in 2024 — 53.8%. Ranked 110 in the world out of 189. Since 1998, the indicator has risen by 2.4 pp.
1998–2024 · % of GDP
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | % | Change, pp |
|---|---|---|
| 2024 | 53.8 | +2.2 pp |
| 2023 | 51.6 | −0.1 pp |
| 2022 | 51.7 | −2.2 pp |
| 2021 | 53.9 | +0.4 pp |
| 2020 | 53.5 | +0.7 pp |
| 2019 | 52.8 | −1.8 pp |
| 2018 | 54.6 | +0.8 pp |
| 2017 | 53.8 | −0.4 pp |
| 2016 | 54.2 | −2.7 pp |
| 2015 | 56.9 | −1.1 pp |
| 2014 | 58 | −2.2 pp |
| 2013 | 60.2 | −1.2 pp |
| 2012 | 61.4 | +2.4 pp |
| 2011 | 59 | +0.8 pp |
| 2010 | 58.2 | −2.9 pp |
| 2009 | 61.1 | +2 pp |
| 2008 | 59.1 | +3.1 pp |
| 2007 | 56 | +0.7 pp |
| 2006 | 55.3 | −2.3 pp |
| 2005 | 57.6 | +1 pp |
| 2004 | 56.6 | +1.4 pp |
| 2003 | 55.2 | +3.2 pp |
| 2002 | 52 | +1.2 pp |
| 2001 | 50.8 | −0.1 pp |
| 2000 | 50.8 | −1.3 pp |
| 1999 | 52.1 | +0.7 pp |
| 1998 | 51.4 | — |
The same indicator for neighboring countries — with links to their pages
The share of value added by the service sector in GDP: wholesale and retail trade, transport, communications, finance, real estate, business and government services, education and health care. In most high-income countries it exceeds 70%; in small island states and tourism economies it reaches 80–90%.
Source: World Development Indicators (World Bank), license CC BY 4.0.
How much the service sector creates — trade, transport, finance, health care, education.
Economy Industry share of GDPThe contribution of industry and construction to the value added of the economy.
Internet ICT service exportsThe share of computer, communications and information services in exports of services.
