Gross savings in Faroe Islands
Faroe Islands: Gross savings was 3.87 billion current LCU in 2011. ▼ Falling
Gross savings in Faroe Islands, 1998–2011
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current LCU.
Analysis
Faroe Islands recorded 3.87 billion current LCU for gross savings in 2011. That is the highest value across all 14 years on record.
The figure is up 26.5% on the previous year and up 2.1% over ten years.
Over the whole period, gross savings in Faroe Islands peaked at 3.87 billion current LCU in 2011 and was at its lowest, 1.47 billion current LCU, in 2009.
Faroe Islands ranks 151st of 177 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 14 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.08 billion current LCU | 3.06 billion current LCU | 3.10 billion current LCU | 2 |
| 2000s | 2.87 billion current LCU | 1.47 billion current LCU | 3.79 billion current LCU | 10 |
| 2010s | 3.47 billion current LCU | 3.06 billion current LCU | 3.87 billion current LCU | 2 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 14.31 billion current LCU (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 2.07 billion current US$ (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- External balance on goods and services 3.4% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- Exports of goods and services 54.6% (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is gross savings in Faroe Islands?
- Gross savings in Faroe Islands was 3.87 billion current LCU in 2011, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Faroe Islands?
- The highest recorded value was 3.87 billion current LCU in 2011.
- What is the lowest gross savings recorded in Faroe Islands?
- The lowest recorded value was 1.47 billion current LCU in 2009.
- How does Faroe Islands rank for gross savings?
- Faroe Islands ranks 151st out of 177 countries with data for 2011.
- Is gross savings rising or falling in Faroe Islands?
- Over the last ten years it is up 2.1%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.