Faroe Islands - Gross value added at factor cost

Gross value added at factor cost (current US$)

The latest value for Gross value added at factor cost (current US$) in Faroe Islands was $2,767,490,000 as of 2019. Over the past 21 years, the value for this indicator has fluctuated between $2,767,490,000 in 2019 and $916,999,700 in 2000.

Definition: Gross value added at factor cost (formerly GDP at factor cost) is derived as the sum of the value added in the agriculture, industry and services sectors. If the value added of these sectors is calculated at purchaser values, gross value added at factor cost is derived by subtracting net product taxes from GDP. Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1998 $959,333,200
1999 $969,066,200
2000 $916,999,700
2001 $1,002,595,000
2002 $1,094,886,000
2003 $1,284,439,000
2004 $1,457,913,000
2005 $1,488,336,000
2006 $1,703,017,000
2007 $1,945,588,000
2008 $2,083,443,000
2009 $1,972,076,000
2010 $2,023,915,000
2011 $2,183,061,000
2012 $2,071,265,000
2013 $2,327,707,000
2014 $2,521,675,000
2015 $2,237,429,000
2016 $2,436,769,000
2017 $2,575,247,000
2018 $2,694,549,000
2019 $2,767,490,000

Gross value added at factor cost (current LCU)

The value for Gross value added at factor cost (current LCU) in Faroe Islands was 18,457,500,000 as of 2019. As the graph below shows, over the past 21 years this indicator reached a maximum value of 18,457,500,000 in 2019 and a minimum value of 6,428,300,000 in 1998.

Definition: Gross value added at factor cost (formerly GDP at factor cost) is derived as the sum of the value added in the agriculture, industry and services sectors. If the value added of these sectors is calculated at purchaser values, gross value added at factor cost is derived by subtracting net product taxes from GDP. Data are in current local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

Year Value
1998 6,428,300,000
1999 6,760,400,000
2000 7,412,200,000
2001 8,344,400,000
2002 8,643,800,000
2003 8,461,500,000
2004 8,734,500,000
2005 8,925,400,000
2006 10,127,500,000
2007 10,591,200,000
2008 10,621,600,000
2009 10,572,100,000
2010 11,382,700,000
2011 11,720,200,000
2012 11,997,800,000
2013 13,073,100,000
2014 14,152,900,000
2015 15,053,200,000
2016 16,403,600,000
2017 17,004,100,000
2018 17,015,000,000
2019 18,457,500,000

Gross value added at factor cost (constant 2010 US$)

Definition: Gross value added at factor cost (formerly GDP at factor cost) is derived as the sum of the value added in the agriculture, industry and services sectors. If the value added of these sectors is calculated at purchaser values, gross value added at factor cost is derived by subtracting net product taxes from GDP. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
2015 2,237,429,000

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts