Faroe Islands: Government spending, percent of GDP

* indicates monthly or quarterly data series
 Faroe Islands

Government spending as percent of GDP

 Latest value 27.38
 Year 2022
 Measure percent
 Data availability 1998 - 2022
 Average 28.81
 Min - Max 25.17 - 33.48
 Source The World Bank
The latest value from 2022 is 27.38 percent, a decline from 28.87 percent in 2021. In comparison, the world average is 16.41 percent, based on data from 155 countries. Historically, the average for the Faroe Islands from 1998 to 2022 is 28.81 percent. The minimum value, 25.17 percent, was reached in 1998 while the maximum of 33.48 percent was recorded in 2009. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Faroe Islands - Government spending, percent of GDP - Recent values chart

Historical series
Faroe Islands - Government spending, percent of GDP - historical chart - 1998-2022




The government size of the Faroe Islands and other countries is calculated as the total government spending as percent of GDP.
Definition: General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.

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 Related indicators Latest Reference Measure
 Government spending, percent of GDP 27.38 2022 percent
 Government spending, in dollars 1.07 2023 billion U.S. dollars
 Fiscal balance, percent of GDP 1.09 2022 percent
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