Current account balance (BoP, current US$), annual growth rate in Faroe Islands
Faroe Islands: Current account balance (BoP, current US$), annual growth rate was 34.68 % change on previous year in 2011. ◆ Volatile
Current account balance (BoP, current US$), annual growth rate in Faroe Islands, 1999–2011
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for current account balance (bop, current us$), annual growth rate in Faroe Islands is 34.68 % change on previous year, measured in 2011.
Compared with earlier readings it is down 94.9% on the previous year and down 26.8% over ten years.
Over the whole period, current account balance (bop, current us$), annual growth rate in Faroe Islands peaked at 685.64 % change on previous year in 2010 and was at its lowest, -479.32 % change on previous year, in 2007.
That places Faroe Islands 51st out of 198 countries with data for 2011, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (BoP, current US$), annual growth rate in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | -21.38 % change on previous year | — |
| 2000 | -43.67 % change on previous year | +104.2% |
| 2001 | 47.39 % change on previous year | -208.5% |
| 2002 | -13.99 % change on previous year | -129.5% |
| 2003 | -105.22 % change on previous year | +651.8% |
| 2005 | -75.96 % change on previous year | -27.8% |
| 2006 | -31.88 % change on previous year | -58.0% |
| 2007 | -479.32 % change on previous year | +1403.5% |
| 2008 | 62.05 % change on previous year | -112.9% |
| 2009 | 19.44 % change on previous year | -68.7% |
| 2010 | 685.64 % change on previous year | +3427.6% |
| 2011 | 34.68 % change on previous year | -94.9% |
Faroe Islands compared with similar countries
- Faroe Islands's 34.68 % change on previous year is above the median for high income countries, which is 1.97 % change on previous year, 17.6× the median. (71 countries reporting)
- Faroe Islands's 34.68 % change on previous year is above the median for Europe & Central Asia, which is -2.34 % change on previous year. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -21.38 % change on previous year | -21.38 % change on previous year | -21.38 % change on previous year | 1 |
| 2000s | -69.02 % change on previous year | -479.32 % change on previous year | 62.05 % change on previous year | 9 |
| 2010s | 360.16 % change on previous year | 34.68 % change on previous year | 685.64 % change on previous year | 2 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is current account balance (bop, current us$), annual growth rate in Faroe Islands?
- Current account balance (bop, current us$), annual growth rate in Faroe Islands was 34.68 % change on previous year in 2011, according to Statizoid (derived).
- What is the highest current account balance (bop, current us$), annual growth rate recorded in Faroe Islands?
- The highest recorded value was 685.64 % change on previous year in 2010.
- What is the lowest current account balance (bop, current us$), annual growth rate recorded in Faroe Islands?
- The lowest recorded value was -479.32 % change on previous year in 2007.
- How does Faroe Islands rank for current account balance (bop, current us$), annual growth rate?
- Faroe Islands ranks 51st out of 198 countries with data for 2011.
- Is current account balance (bop, current us$), annual growth rate rising or falling in Faroe Islands?
- Over the last ten years it is down 26.8%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Current account balance (BoP, current US$), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 12 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Current account balance (BoP, current US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Current account balance Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Current account balance (BoP, current US$). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.