Exports of goods and services (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Exports of goods and services (current US$), per unit of GDP was 0.5456 current US$ per US$ of GDP in 2024. ▲ Rising
Latest (2024)
0.5456 current US$ per US$ of GDP
Change on year
down 4.6%
World rank
49th
of 193 countries
All-time high
0.6137 current US$ per US$ of GDP
in 2022
All-time low
0.3152 current US$ per US$ of GDP
in 1968
Years of data
60
1965–2024
Exports of goods and services (current US$), per unit of GDP in Faroe Islands, 1965–2024
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
In 2024, exports of goods and services (current us$), per unit of gdp in Faroe Islands stood at 0.5456 current US$ per US$ of GDP.
That represents a change of down 4.6% on the previous year and up 2.1% over ten years.
Over the whole period, exports of goods and services (current us$), per unit of gdp in Faroe Islands peaked at 0.6137 current US$ per US$ of GDP in 2022 and was at its lowest, 0.3152 current US$ per US$ of GDP, in 1968.
That places Faroe Islands 49th out of 193 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 60 years of available data.
Exports of goods and services (current US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1965 | 0.4192 current US$ per US$ of GDP | — |
| 1966 | 0.3235 current US$ per US$ of GDP | -22.8% |
| 1967 | 0.3853 current US$ per US$ of GDP | +19.1% |
| 1968 | 0.3152 current US$ per US$ of GDP | -18.2% |
| 1969 | 0.3465 current US$ per US$ of GDP | +9.9% |
| 1970 | 0.394 current US$ per US$ of GDP | +13.7% |
| 1971 | 0.3787 current US$ per US$ of GDP | -3.9% |
| 1972 | 0.3884 current US$ per US$ of GDP | +2.6% |
| 1973 | 0.4833 current US$ per US$ of GDP | +24.4% |
| 1974 | 0.4052 current US$ per US$ of GDP | -16.2% |
| 1975 | 0.3551 current US$ per US$ of GDP | -12.4% |
| 1976 | 0.3862 current US$ per US$ of GDP | +8.8% |
| 1977 | 0.4129 current US$ per US$ of GDP | +6.9% |
| 1978 | 0.3532 current US$ per US$ of GDP | -14.5% |
| 1979 | 0.3361 current US$ per US$ of GDP | -4.8% |
| 1980 | 0.3624 current US$ per US$ of GDP | +7.8% |
| 1981 | 0.365 current US$ per US$ of GDP | +0.7% |
| 1982 | 0.3368 current US$ per US$ of GDP | -7.7% |
| 1983 | 0.3514 current US$ per US$ of GDP | +4.3% |
| 1984 | 0.3808 current US$ per US$ of GDP | +8.3% |
| 1985 | 0.3988 current US$ per US$ of GDP | +4.7% |
| 1986 | 0.3647 current US$ per US$ of GDP | -8.5% |
| 1987 | 0.3983 current US$ per US$ of GDP | +9.2% |
| 1988 | 0.3646 current US$ per US$ of GDP | -8.5% |
| 1989 | 0.4019 current US$ per US$ of GDP | +10.3% |
| 1990 | 0.4383 current US$ per US$ of GDP | +9.0% |
| 1991 | 0.4837 current US$ per US$ of GDP | +10.4% |
| 1992 | 0.4839 current US$ per US$ of GDP | +0.1% |
| 1993 | 0.438 current US$ per US$ of GDP | -9.5% |
| 1994 | 0.4358 current US$ per US$ of GDP | -0.5% |
| 1995 | 0.4073 current US$ per US$ of GDP | -6.5% |
| 1996 | 0.4984 current US$ per US$ of GDP | +22.4% |
| 1997 | 0.4874 current US$ per US$ of GDP | -2.2% |
| 1998 | 0.4665 current US$ per US$ of GDP | -4.3% |
| 1999 | 0.4876 current US$ per US$ of GDP | +4.5% |
| 2000 | 0.5134 current US$ per US$ of GDP | +5.3% |
| 2001 | 0.5156 current US$ per US$ of GDP | +0.4% |
| 2002 | 0.4906 current US$ per US$ of GDP | -4.8% |
| 2003 | 0.4677 current US$ per US$ of GDP | -4.7% |
| 2004 | 0.437 current US$ per US$ of GDP | -6.6% |
| 2005 | 0.4205 current US$ per US$ of GDP | -3.8% |
| 2006 | 0.418 current US$ per US$ of GDP | -0.6% |
| 2007 | 0.4213 current US$ per US$ of GDP | +0.8% |
| 2008 | 0.4597 current US$ per US$ of GDP | +9.1% |
| 2009 | 0.4366 current US$ per US$ of GDP | -5.0% |
| 2010 | 0.4672 current US$ per US$ of GDP | +7.0% |
| 2011 | 0.5243 current US$ per US$ of GDP | +12.2% |
| 2012 | 0.5256 current US$ per US$ of GDP | +0.2% |
| 2013 | 0.5544 current US$ per US$ of GDP | +5.5% |
| 2014 | 0.5341 current US$ per US$ of GDP | -3.7% |
| 2015 | 0.5322 current US$ per US$ of GDP | -0.4% |
| 2016 | 0.5454 current US$ per US$ of GDP | +2.5% |
| 2017 | 0.5637 current US$ per US$ of GDP | +3.4% |
| 2018 | 0.5282 current US$ per US$ of GDP | -6.3% |
| 2019 | 0.5577 current US$ per US$ of GDP | +5.6% |
| 2020 | 0.4743 current US$ per US$ of GDP | -15.0% |
| 2021 | 0.5198 current US$ per US$ of GDP | +9.6% |
| 2022 | 0.6137 current US$ per US$ of GDP | +18.1% |
| 2023 | 0.5719 current US$ per US$ of GDP | -6.8% |
| 2024 | 0.5456 current US$ per US$ of GDP | -4.6% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.5456 current US$ per US$ of GDP is above the median for high income countries, which is 0.5198 current US$ per US$ of GDP, 1.0× the median. (72 countries reporting)
- Faroe Islands's 0.5456 current US$ per US$ of GDP is above the median for Europe & Central Asia, which is 0.4639 current US$ per US$ of GDP, 1.2× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 0.3579 current US$ per US$ of GDP | 0.3152 current US$ per US$ of GDP | 0.4192 current US$ per US$ of GDP | 5 |
| 1970s | 0.3893 current US$ per US$ of GDP | 0.3361 current US$ per US$ of GDP | 0.4833 current US$ per US$ of GDP | 10 |
| 1980s | 0.3725 current US$ per US$ of GDP | 0.3368 current US$ per US$ of GDP | 0.4019 current US$ per US$ of GDP | 10 |
| 1990s | 0.4627 current US$ per US$ of GDP | 0.4073 current US$ per US$ of GDP | 0.4984 current US$ per US$ of GDP | 10 |
| 2000s | 0.458 current US$ per US$ of GDP | 0.418 current US$ per US$ of GDP | 0.5156 current US$ per US$ of GDP | 10 |
| 2010s | 0.5333 current US$ per US$ of GDP | 0.4672 current US$ per US$ of GDP | 0.5637 current US$ per US$ of GDP | 10 |
| 2020s | 0.5451 current US$ per US$ of GDP | 0.4743 current US$ per US$ of GDP | 0.6137 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 46 Belarus 0.5508 current US$ per US$ of GDP compare
- 47 Antigua and Barbuda 0.55 current US$ per US$ of GDP compare
- 48 Austria 0.547 current US$ per US$ of GDP compare
- 50 Fiji 0.5441 current US$ per US$ of GDP compare
- 51 Serbia 0.5431 current US$ per US$ of GDP compare
- 52 Jordan 0.5423 current US$ per US$ of GDP compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ 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)
- 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$), per capita 20,895 current US$ per person (2024)
Frequently asked questions
- What is exports of goods and services (current us$), per unit of gdp in Faroe Islands?
- Exports of goods and services (current us$), per unit of gdp in Faroe Islands was 0.5456 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest exports of goods and services (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.6137 current US$ per US$ of GDP in 2022.
- What is the lowest exports of goods and services (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.3152 current US$ per US$ of GDP in 1968.
- How does Faroe Islands rank for exports of goods and services (current us$), per unit of gdp?
- Faroe Islands ranks 49th out of 193 countries with data for 2024.
- Is exports of goods and services (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 2.1%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Exports of goods and services (current US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Exports of goods and services (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Exports of goods and services (current US$) ÷ GDP (current US$)
Computed from
- Exports of goods and services Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Exports of goods and services (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.