Faroe Islands: Household consumption, percent of GDP
* indicates monthly or quarterly data series
Faroe Islands |
Household consumption as percent of GDP |
---|---|
Latest value | 41.35 |
Year | 2022 |
Measure | percent |
Data availability | 1998 - 2022 |
Average | 50.47 |
Min - Max | 41.35 - 64.58 |
Source | The World Bank |
The latest value from 2022 is 41.35 percent, a decline from 42.11 percent in 2021. In comparison, the world average is 63.39 percent, based on data from 154 countries. Historically, the average for the Faroe Islands from 1998 to 2022 is 50.47 percent. The minimum value, 41.35 percent, was reached in 2022 while the maximum of 64.58 percent was recorded in 2005.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
Recent data
Historical series
Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
Related indicators | Latest | Reference | Measure |
---|---|---|---|
Capital investment, percent of GDP | 31.39 | 2022 | percent |
Capital investment, in dollars | 1.12 | 2022 | billion U.S. dollars |
Household consumption, percent of GDP | 41.35 | 2022 | percent |
Household consumption, in dollars | 1.47 | 2022 | billion U.S. dollars |