Faroe Islands—GDP Deflator (%)
Faroe Islands's gdp deflator (%) was 2.0% in 2024, ranking #161 out of 209 countries. This represents a -32.2% change from 2023. Over the past 16 years, the highest recorded value was 7.9% (2016) and the lowest was -2.4% (2012). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 2.0% | -32.2% |
| 2023 | 2.9% | -50.1% |
| 2022 | 5.9% | +72.1% |
| 2021 | 3.4% | +3170.7% |
| 2020 | -0.1% | -103.2% |
| 2019 | 3.5% | +922.8% |
| 2018 | -0.4% | -213.2% |
| 2017 | 0.4% | -95.2% |
| 2016 | 7.9% | +61.2% |
| 2015 | 4.9% | +82.6% |
| 2014 | 2.7% | +76.2% |
| 2013 | 1.5% | +163.2% |
| 2012 | -2.4% | -152.1% |
| 2011 | -1.0% | -113.7% |
| 2010 | 6.9% | +335.8% |
| 2009 | 1.6% |
Top Countries — GDP Deflator (%)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Zimbabwe | 1097.2% | 2024 |
| 2 | Sudan | 243.9% | 2024 |
| 3 | Argentina | 207.6% | 2024 |
| 4 | Lebanon | 202.9% | 2023 |
| 5 | Syrian Arab Republic | 112.1% | 2022 |
| 6 | Turkiye | 59.3% | 2024 |
| 7 | Venezuela, RB | 54.7% | 2024 |
| 8 | Egypt, Arab Rep. | 33.7% | 2024 |
| 9 | Cuba | 32.2% | 2024 |
| 10 | Iran, Islamic Rep. | 28.4% | 2024 |
About This Indicator
Definition
Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.
Methodology
Data compiled by Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB).