Services value added in the Faroe Islands in 2024 — 2,181,570,896 US$. Ranked 160 in the world out of 188. Since 1998, the indicator has risen by 283.9%.
1998–2024 · US$
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | US$ | Change | Change, % |
|---|---|---|---|
| 2024 | 2.18B | +145M | +7.14% |
| 2023 | 2.04B | +167M | +8.95% |
| 2022 | 1.87B | −126M | −6.3% |
| 2021 | 1.99B | +245M | +13.99% |
| 2020 | 1.75B | +24.17M | +1.4% |
| 2019 | 1.73B | −14.99M | −0.86% |
| 2018 | 1.74B | +137M | +8.52% |
| 2017 | 1.6B | +78.18M | +5.12% |
| 2016 | 1.53B | +60.55M | +4.13% |
| 2015 | 1.47B | −225M | −13.33% |
| 2014 | 1.69B | +69.94M | +4.32% |
| 2013 | 1.62B | +130M | +8.75% |
| 2012 | 1.49B | +12.38M | +0.84% |
| 2011 | 1.48B | +121M | +8.88% |
| 2010 | 1.36B | −45.73M | −3.26% |
| 2009 | 1.4B | −68.1M | −4.63% |
| 2008 | 1.47B | +162M | +12.37% |
| 2007 | 1.31B | +194M | +17.36% |
| 2006 | 1.12B | +102M | +10.09% |
| 2005 | 1.01B | +37.8M | +3.88% |
| 2004 | 975M | +146M | +17.66% |
| 2003 | 829M | +167M | +25.14% |
| 2002 | 662M | +73.46M | +12.47% |
| 2001 | 589M | +46.62M | +8.59% |
| 2000 | 542M | −45.65M | −7.76% |
| 1999 | 588M | +19.74M | +3.47% |
| 1998 | 568M | — | — |
The same indicator for neighboring countries — with links to their pages
Value added by the service sector in current US dollars: trade, transport, communications, finance, real estate, public administration, education, health care and everything else that is neither industry nor agriculture. In most advanced countries this is two thirds of the economy or more, and in absolute figures the sector is larger than industry almost everywhere except a few manufacturing economies of East Asia.
Important: A residual category by definition: everything not assigned to agriculture or industry. Its composition is therefore harder to compare across countries than its size.
Source: World Development Indicators (World Bank), license CC BY 4.0.
The contribution of trade, transport, finance, IT and public administration to value added.
Economy Industry value addedHow much a country's industry creates in money terms — all of it, including mining, construction and utilities.
Internet ICT service exportsThe share of computer, communications and information services in exports of services.
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.
