Faroe Islands: Value added by industry as percent of GDP
For that indicator, The World Bank provides data for the Faroe Islands from to . The average value for the Faroe Islands during that period was percent with a minimum of percent in and a maximum of percent in .
The latest value from is percent. For comparison, the world average in based on
countries is 0.00 percent.
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The importance of industry in the economy of the Faroe Islands and other countries is measured as the value added of the industrial sector as percent of GDP. Industry includes mining, manufacturing, construction, electricity, water, and gas.
Definition: Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.