Exports of goods and services in Faroe Islands
Faroe Islands: Exports of goods and services was 15.24 billion current LCU in 2024. ◆ Volatile
Latest (2024)
15.24 billion current LCU
Change on year
down 1.9%
World rank
160th
of 193 countries
All-time high
15.70 billion current LCU
in 2022
All-time low
120.80 million current LCU
in 1962
Years of data
63
1962–2024
Exports of goods and services in Faroe Islands, 1962–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
The most recent figure for exports of goods and services in Faroe Islands is 15.24 billion current LCU, measured in 2024.
The figure is down 1.9% on the previous year and up 74.5% over ten years.
Over the whole period, exports of goods and services in Faroe Islands peaked at 15.70 billion current LCU in 2022 and was at its lowest, 120.80 million current LCU, in 1962.
That places Faroe Islands 160th out of 193 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Exports of goods and services in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 1962 | 120.80 million current LCU | — |
| 1963 | 129.70 million current LCU | +7.4% |
| 1964 | 130.10 million current LCU | +0.3% |
| 1965 | 167.80 million current LCU | +29.0% |
| 1966 | 143.90 million current LCU | -14.2% |
| 1967 | 177.50 million current LCU | +23.3% |
| 1968 | 154.10 million current LCU | -13.2% |
| 1969 | 182.20 million current LCU | +18.2% |
| 1970 | 251.00 million current LCU | +37.8% |
| 1971 | 278.70 million current LCU | +11.0% |
| 1972 | 322.10 million current LCU | +15.6% |
| 1973 | 471.40 million current LCU | +46.4% |
| 1974 | 485.90 million current LCU | +3.1% |
| 1975 | 464.00 million current LCU | -4.5% |
| 1976 | 631.40 million current LCU | +36.1% |
| 1977 | 862.00 million current LCU | +36.5% |
| 1978 | 774.80 million current LCU | -10.1% |
| 1979 | 793.10 million current LCU | +2.4% |
| 1980 | 1.01 billion current LCU | +27.0% |
| 1981 | 1.19 billion current LCU | +17.8% |
| 1982 | 1.25 billion current LCU | +5.1% |
| 1983 | 1.56 billion current LCU | +25.5% |
| 1984 | 1.68 billion current LCU | +7.4% |
| 1985 | 1.94 billion current LCU | +15.5% |
| 1986 | 2.03 billion current LCU | +4.7% |
| 1987 | 2.42 billion current LCU | +18.8% |
| 1988 | 2.38 billion current LCU | -1.6% |
| 1989 | 2.56 billion current LCU | +7.8% |
| 1990 | 2.61 billion current LCU | +1.7% |
| 1991 | 2.81 billion current LCU | +7.9% |
| 1992 | 2.67 billion current LCU | -5.2% |
| 1993 | 2.16 billion current LCU | -18.9% |
| 1994 | 2.10 billion current LCU | -2.7% |
| 1995 | 2.06 billion current LCU | -2.2% |
| 1996 | 2.86 billion current LCU | +39.0% |
| 1997 | 3.01 billion current LCU | +5.1% |
| 1998 | 3.45 billion current LCU | +14.9% |
| 1999 | 3.84 billion current LCU | +11.1% |
| 2000 | 4.43 billion current LCU | +15.4% |
| 2001 | 4.98 billion current LCU | +12.5% |
| 2002 | 4.94 billion current LCU | -0.8% |
| 2003 | 4.63 billion current LCU | -6.3% |
| 2004 | 4.52 billion current LCU | -2.4% |
| 2005 | 4.44 billion current LCU | -1.7% |
| 2006 | 5.02 billion current LCU | +13.0% |
| 2007 | 5.36 billion current LCU | +7.0% |
| 2008 | 5.84 billion current LCU | +8.8% |
| 2009 | 5.37 billion current LCU | -7.9% |
| 2010 | 6.13 billion current LCU | +14.0% |
| 2011 | 7.05 billion current LCU | +15.1% |
| 2012 | 7.39 billion current LCU | +4.8% |
| 2013 | 8.38 billion current LCU | +13.4% |
| 2014 | 8.74 billion current LCU | +4.3% |
| 2015 | 9.22 billion current LCU | +5.5% |
| 2016 | 10.33 billion current LCU | +12.1% |
| 2017 | 11.09 billion current LCU | +7.4% |
| 2018 | 10.63 billion current LCU | -4.1% |
| 2019 | 12.15 billion current LCU | +14.2% |
| 2020 | 10.15 billion current LCU | -16.4% |
| 2021 | 12.09 billion current LCU | +19.1% |
| 2022 | 15.70 billion current LCU | +29.9% |
| 2023 | 15.54 billion current LCU | -1.0% |
| 2024 | 15.24 billion current LCU | -1.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 150.76 million current LCU | 120.80 million current LCU | 182.20 million current LCU | 8 |
| 1970s | 533.44 million current LCU | 251.00 million current LCU | 862.00 million current LCU | 10 |
| 1980s | 1.80 billion current LCU | 1.01 billion current LCU | 2.56 billion current LCU | 10 |
| 1990s | 2.76 billion current LCU | 2.06 billion current LCU | 3.84 billion current LCU | 10 |
| 2000s | 4.95 billion current LCU | 4.43 billion current LCU | 5.84 billion current LCU | 10 |
| 2010s | 9.11 billion current LCU | 6.13 billion current LCU | 12.15 billion current LCU | 10 |
| 2020s | 13.75 billion current LCU | 10.15 billion current LCU | 15.70 billion current LCU | 5 |
Countries ranked near Faroe Islands
- 157 Tajikistan 17.47 billion current LCU compare
- 158 South Sudan 15.85 billion current LCU compare
- 159 Bahrain 15.53 billion current LCU compare
- 161 Brunei Darussalam 14.07 billion current LCU compare
- 162 El Salvador 11.76 billion current LCU compare
- 163 Greenland 9.35 billion current LCU compare
More economy & growth data for Faroe Islands
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 93,585 current LCU per person (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Industry (including construction), value added (current LCU), annual -5.07 % change on previous year (2024)
- Industry (including construction), value added (current US$), per 13,574 current US$ per person (2024)
- Industry (including construction), value added (current US$), per 0.183 current US$ per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
- External balance on goods and services (current LCU), annual growth 228.14 % change on previous year (2024)
Frequently asked questions
- What is exports of goods and services in Faroe Islands?
- Exports of goods and services in Faroe Islands was 15.24 billion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest exports of goods and services recorded in Faroe Islands?
- The highest recorded value was 15.70 billion current LCU in 2022.
- What is the lowest exports of goods and services recorded in Faroe Islands?
- The lowest recorded value was 120.80 million current LCU in 1962.
- How does Faroe Islands rank for exports of goods and services?
- Faroe Islands ranks 160th out of 193 countries with data for 2024.
- Is exports of goods and services rising or falling in Faroe Islands?
- Over the last ten years it is up 74.5%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Exports of goods and services (current LCU). Statizoid updates them automatically from the source API.
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About this data
Exports of goods includes changes in the economic ownership of goods from residents of the compiling economy to non-residents, irrespective of physical movement of goods across national borders. Exports of services includes services provided by residents to non-residents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.