Faroe Islands: Savings, percent of GDP
* indicates monthly or quarterly data series
| Faroe Islands |
Savings as percent of GDP |
|---|---|
| Latest value | 28.78 |
| Year | 2011 |
| Measure | percent |
| Data availability | 1998 - 2011 |
| Average | 28.83 |
| Min - Max | 11.96 - 41.93 |
| Source | The World Bank |
The latest value from 2011 is 28.78 percent, an increase from 23.34 percent in 2010. In comparison, the world average is 22.05 percent, based on data from 159 countries. Historically, the average for the Faroe Islands from 1998 to 2011 is 28.83 percent. The minimum value, 11.96 percent, was reached in 2009 while the maximum of 41.93 percent was recorded in 1998.
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* indicates monthly or quarterly data series
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The savings in the Faroe Islands and other countries is calculated as the difference between income and consumption, expressed as percent of GDP.
Definition: Gross savings are calculated as gross national income less total consumption, plus net transfers.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Share of industry | 19.67 | 2023 | percent |
| Share of manufacturing | 7.61 | 2023 | percent |
| Share of services | 52.04 | 2023 | percent |
| Industry value added | 0.77 | 2023 | billion U.S. dollars |
| Manufacturing value added | 0.30 | 2023 | billion U.S. dollars |
| Services value added | 2.03 | 2023 | billion U.S. dollars |
| Savings, percent of GDP | 28.78 | 2011 | percent |
| Savings, in dollars | 0.72 | 2011 | billion U.S. dollars |