National economy has navigated 2021 well

17.01.2022 - 15:50
National economy has navigated 2021 well
Wage expenditures increased by two percent in 2021 compared to 2020 and by five percent compared to 2019

The Faroese national economy has managed to navigate the bumps and bruises of 2021 relatively well, according to the House of Industry.

In 2021, a total of DKK 12.7 billion in wages, pensions and other payments was transacted through the so-called A-tax system (for income taxed at source).

This is just over two percent more than in 2020 and five percent more than in 2019. Of the DKK 12.7 billion total, DKK 3.9 billion was paid in income tax, split into DKK 1.8 billion in state taxes and DKK 2.1 billion in council taxes.

The total income tax was also two percent higher in 2021 than in the previous year.

More travellers and vehicles

The number of travellers passing through Vágar Airport has also been on the increase.

A total of 239,000 people passed through the airport last year, a 33-percent increase on 2020.

The number of new passenger cars also went up last year.

Faroese Vehicle Administration Akstovan registered 1,991 new passenger cars last year, which is an increase of 104 on 2020 and roughly the same number as in 2016 and 2017.


Read the Faroese version of this article here.

More Faroese News in English.

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