Manufacturing, value added in Faroe Islands
Faroe Islands: Manufacturing, value added was 383.50 million current US$ in 2024. ▲ Rising
Manufacturing, value added in Faroe Islands, 1998–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
Faroe Islands recorded 383.50 million current US$ for manufacturing, value added in 2024.
The figure is down 14.7% on the previous year and up 44.9% over ten years.
Over the whole period, manufacturing, value added in Faroe Islands peaked at 449.48 million current US$ in 2023 and was at its lowest, 111.58 million current US$, in 1998.
That places Faroe Islands 157th out of 204 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 116.92 million current US$ | 111.58 million current US$ | 122.26 million current US$ | 2 |
| 2000s | 168.02 million current US$ | 112.37 million current US$ | 220.90 million current US$ | 10 |
| 2010s | 243.88 million current US$ | 191.16 million current US$ | 340.12 million current US$ | 10 |
| 2020s | 389.36 million current US$ | 353.80 million current US$ | 449.48 million current US$ | 5 |
Countries ranked near Faroe Islands
- 154 Central African Republic 458.74 million current US$ compare
- 155 Burundi 440.75 million current US$ compare
- 156 South Sudan 424.04 million current US$ compare
- 158 Barbados 376.05 million current US$ compare
- 159 Lebanon 330.05 million current US$ compare
- 160 Macao 319.90 million current US$ compare
More economy & growth data for Faroe Islands
- Imports of goods and services 2.07 billion current US$ (2024)
- Exports of goods and services 54.6% (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 51.2% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- Exports of goods and services 15.24 billion current LCU (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
Frequently asked questions
- What is manufacturing, value added in Faroe Islands?
- Manufacturing, value added in Faroe Islands was 383.50 million current US$ in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest manufacturing, value added recorded in Faroe Islands?
- The highest recorded value was 449.48 million current US$ in 2023.
- What is the lowest manufacturing, value added recorded in Faroe Islands?
- The lowest recorded value was 111.58 million current US$ in 1998.
- How does Faroe Islands rank for manufacturing, value added?
- Faroe Islands ranks 157th out of 204 countries with data for 2024.
- Is manufacturing, value added rising or falling in Faroe Islands?
- Over the last ten years it is up 44.9%. 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 Manufacturing, value added (current US$). Statizoid updates them automatically from the source API.
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About this data
Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.