Households and NPISHs Final consumption expenditure in Faroe Islands
Faroe Islands: Households and NPISHs Final consumption expenditure was 11.35 billion current LCU in 2024. ▲ Rising
Households and NPISHs Final consumption expenditure in Faroe Islands, 1998–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current LCU.
Analysis
In 2024, households and npishs final consumption expenditure in Faroe Islands stood at 11.35 billion current LCU. That is the highest value across all 27 years on record.
Compared with earlier readings it is up 2.9% on the previous year and up 42.5% over ten years.
Over the whole period, households and npishs final consumption expenditure in Faroe Islands peaked at 11.35 billion current LCU in 2024 and was at its lowest, 3.78 billion current LCU, in 1998.
Faroe Islands ranks 161st of 189 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.99 billion current LCU | 3.78 billion current LCU | 4.20 billion current LCU | 2 |
| 2000s | 6.03 billion current LCU | 4.44 billion current LCU | 7.20 billion current LCU | 10 |
| 2010s | 8.02 billion current LCU | 6.73 billion current LCU | 9.12 billion current LCU | 10 |
| 2020s | 10.39 billion current LCU | 9.32 billion current LCU | 11.35 billion current LCU | 5 |
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 households and npishs final consumption expenditure in Faroe Islands?
- Households and npishs final consumption expenditure in Faroe Islands was 11.35 billion current LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest households and npishs final consumption expenditure recorded in Faroe Islands?
- The highest recorded value was 11.35 billion current LCU in 2024.
- What is the lowest households and npishs final consumption expenditure recorded in Faroe Islands?
- The lowest recorded value was 3.78 billion current LCU in 1998.
- How does Faroe Islands rank for households and npishs final consumption expenditure?
- Faroe Islands ranks 161st out of 189 countries with data for 2024.
- Is households and npishs final consumption expenditure rising or falling in Faroe Islands?
- Over the last ten years it is up 42.5%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Households and NPISHs Final consumption expenditure (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 27 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
This field includes expenditure on goods and services by the Household and NPISH sector for the direct satisfaction of human needs or wants, whether individual or collective. 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.