Faroe Islands - Services
Services, value added (current US$)
The latest value for Services, value added (current US$) in Faroe Islands was $1,619,636,000 as of 2019. Over the past 21 years, the value for this indicator has fluctuated between $1,641,038,000 in 2018 and $538,803,200 in 2000.
Definition: Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges and import duties. 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 industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | $561,947,800 |
| 1999 | $584,171,900 |
| 2000 | $538,803,200 |
| 2001 | $582,436,200 |
| 2002 | $657,441,100 |
| 2003 | $825,250,100 |
| 2004 | $945,469,100 |
| 2005 | $985,075,600 |
| 2006 | $1,082,212,000 |
| 2007 | $1,260,925,000 |
| 2008 | $1,419,078,000 |
| 2009 | $1,376,243,000 |
| 2010 | $1,353,585,000 |
| 2011 | $1,462,309,000 |
| 2012 | $1,429,469,000 |
| 2013 | $1,551,983,000 |
| 2014 | $1,635,581,000 |
| 2015 | $1,420,547,000 |
| 2016 | $1,457,552,000 |
| 2017 | $1,531,206,000 |
| 2018 | $1,641,038,000 |
| 2019 | $1,619,636,000 |
Services, value added (current LCU)
The value for Services, value added (current LCU) in Faroe Islands was 10,802,000,000 as of 2019. As the graph below shows, over the past 21 years this indicator reached a maximum value of 10,802,000,000 in 2019 and a minimum value of 3,765,500,000 in 1998.
Definition: Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges and import duties. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1998 | 3,765,500,000 |
| 1999 | 4,075,300,000 |
| 2000 | 4,355,200,000 |
| 2001 | 4,847,500,000 |
| 2002 | 5,190,300,000 |
| 2003 | 5,436,500,000 |
| 2004 | 5,664,400,000 |
| 2005 | 5,907,400,000 |
| 2006 | 6,435,700,000 |
| 2007 | 6,864,100,000 |
| 2008 | 7,234,600,000 |
| 2009 | 7,377,900,000 |
| 2010 | 7,612,700,000 |
| 2011 | 7,850,700,000 |
| 2012 | 8,280,200,000 |
| 2013 | 8,716,400,000 |
| 2014 | 9,179,700,000 |
| 2015 | 9,557,300,000 |
| 2016 | 9,811,800,000 |
| 2017 | 10,110,400,000 |
| 2018 | 10,362,500,000 |
| 2019 | 10,802,000,000 |
Services, value added (constant 2010 US$)
Definition: Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4. 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 | 1,420,547,000 |
Services, value added (% of GDP)
Services, value added (% of GDP) in Faroe Islands was 51.81 as of 2019. Its highest value over the past 21 years was 60.67 in 2009, while its lowest value was 50.72 in 1998.
Definition: Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | 50.72 |
| 1999 | 52.15 |
| 2000 | 50.89 |
| 2001 | 50.75 |
| 2002 | 52.07 |
| 2003 | 55.24 |
| 2004 | 56.00 |
| 2005 | 57.01 |
| 2006 | 54.53 |
| 2007 | 55.06 |
| 2008 | 58.34 |
| 2009 | 60.67 |
| 2010 | 58.33 |
| 2011 | 58.71 |
| 2012 | 60.41 |
| 2013 | 59.08 |
| 2014 | 57.37 |
| 2015 | 56.41 |
| 2016 | 53.22 |
| 2017 | 52.81 |
| 2018 | 53.78 |
| 2019 | 51.81 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
