Faroe Islands Gross Savings
Gross savings as % of GDP NY.GNS.ICTR.ZS
Faroe Islands's gross savings was 28.78% in 2011, ranked 46th globally. This represents a 23.3% increase from 2010. Data from World Bank, covering 1998–2011.
Overview
Faroe Islands's gross savings stood at 28.78% in 2011, a rise of +5.43% from 2010. Faroe Islands ranked 46th globally.
The Faroe Islands’ gross savings rate fell sharply from its all‑time peak of 41.93 percent in 1998 to a trough of 11.96 percent during the global financial crisis in 2009, before climbing modestly to 28.78 percent in 2011, ranking 46th worldwide. This 2011 figure is comparable to Sudan’s 28.76 percent and slightly below Hong Kong SAR, China’s 29.70 percent, suggesting that the islands have moved from a historically high savings posture to a level typical of many developing economies. The 14‑year coverage shows a long‑term downward trajectory punctuated by the 2009 collapse, after which policy measures and improved fiscal balances appear to have halted the decline. Continued diversification of the fisheries‑dependent economy and prudent fiscal management could sustain the modest recovery, while external shocks or a slowdown in export demand would likely reverse the upward trend.
Data & projection
| Year | Gross Savings | YoY change | Rank |
|---|---|---|---|
| 2011 | 28.78% | +5.43% | #46 |
| 2010 | 23.34% | +11.39% | #77 |
| 2009 | 11.96% | −9.29% | #146 |
| 2008 | 21.24% | −7.22% | #95 |
| 2007 | 28.46% | +3.23% | #58 |
| 2006 | 25.22% | +9.11% | #75 |
| 2005 | 16.11% | −9.38% | #132 |
| 2004 | 25.49% | −3.02% | #62 |
| 2003 | 28.51% | −5.43% | #38 |
| 2002 | 33.94% | −5.33% | #15 |
| 2001 | 39.28% | −1.18% | #9 |
| 2000 | 40.46% | +1.50% | #7 |
| 1999 | 38.95% | −2.98% | #6 |
| 1998 | 41.93% | – | #5 |
Analysis
Faroe Islands's gross savings was 28.78% in 2011, a rise of +5.43% from 2010.
Frequently Asked Questions
Faroe Islands's gross savings was 28.78% in 2011. Ranked 46th globally. This represents a 23.3% increase from the previous year.
Faroe Islands's gross savings peaked at 41.93% in 1998.
The lowest gross savings in Faroe Islands was 11.96% in 2009.
Faroe Islands ranks 46th globally in gross savings as of 2011.
The World Bank indicator code is NY.GNS.ICTR.ZS. Data sourced from World Bank.
The gross savings of Faroe Islands in 2011 was 28.78%. This ranks 46th in the world.
Cite this page
@misc{historysaid_faroe-islands_gross-savings,
title = {Faroe Islands Gross Savings},
url = {https://historysaid.com/faroe-islands/gross-savings/},
publisher = {HistorySaid},
year = {2026}
}