Faroe Islands—Gross Savings (% of GDP)
Faroe Islands's gross savings (% of GDP) was 28.8% in 2011. This represents a +23.3% change from 2010. Over the past 12 years, the highest recorded value was 40.5% (2000) and the lowest was 12.0% (2009). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2011 | 28.8% | +23.3% |
| 2010 | 23.3% | +95.3% |
| 2009 | 12.0% | -43.7% |
| 2008 | 21.2% | -25.4% |
| 2007 | 28.5% | +12.8% |
| 2006 | 25.2% | +56.5% |
| 2005 | 16.1% | -36.8% |
| 2004 | 25.5% | -10.6% |
| 2003 | 28.5% | -16.0% |
| 2002 | 33.9% | -13.6% |
| 2001 | 39.3% | -2.9% |
| 2000 | 40.5% |
Top Countries — Gross Savings (% of GDP)
About This Indicator
Definition
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Methodology
Original contributors: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB)
Unit
% of GDP