Imports of goods and services (current LCU), per unit of GDP in Faroe Islands
Faroe Islands: Imports of goods and services (current LCU), per unit of GDP was 3.53 current LCU per US$ of GDP in 2024. ▲ Rising
Latest (2024)
3.53 current LCU per US$ of GDP
Change on year
down 8.7%
World rank
107th
of 193 countries
All-time high
6.38 current LCU per US$ of GDP
in 1984
All-time low
1.87 current LCU per US$ of GDP
in 1993
Years of data
60
1965–2024
Imports of goods and services (current LCU), per unit of GDP in Faroe Islands, 1965–2024
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
Faroe Islands recorded 3.53 current LCU per US$ of GDP for imports of goods and services (current lcu), per unit of gdp in 2024.
Compared with earlier readings it is down 8.7% on the previous year and up 19.3% over ten years.
Over the whole period, imports of goods and services (current lcu), per unit of gdp in Faroe Islands peaked at 6.38 current LCU per US$ of GDP in 1984 and was at its lowest, 1.87 current LCU per US$ of GDP, in 1993.
Faroe Islands ranks 107th of 193 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 60 years of available data.
Imports of goods and services (current LCU), per unit of GDP in Faroe Islands, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1965 | 3.15 current LCU per US$ of GDP | — |
| 1966 | 3.03 current LCU per US$ of GDP | -3.6% |
| 1967 | 2.81 current LCU per US$ of GDP | -7.2% |
| 1968 | 3.24 current LCU per US$ of GDP | +15.3% |
| 1969 | 3.34 current LCU per US$ of GDP | +3.1% |
| 1970 | 2.69 current LCU per US$ of GDP | -19.6% |
| 1971 | 3.03 current LCU per US$ of GDP | +12.8% |
| 1972 | 2.73 current LCU per US$ of GDP | -10.1% |
| 1973 | 2.56 current LCU per US$ of GDP | -6.3% |
| 1974 | 3.24 current LCU per US$ of GDP | +26.6% |
| 1975 | 2.86 current LCU per US$ of GDP | -11.5% |
| 1976 | 2.92 current LCU per US$ of GDP | +1.9% |
| 1977 | 2.62 current LCU per US$ of GDP | -10.3% |
| 1978 | 2.48 current LCU per US$ of GDP | -5.3% |
| 1979 | 2.41 current LCU per US$ of GDP | -2.6% |
| 1980 | 2.54 current LCU per US$ of GDP | +5.2% |
| 1981 | 3.35 current LCU per US$ of GDP | +31.8% |
| 1982 | 3.8 current LCU per US$ of GDP | +13.5% |
| 1983 | 4.52 current LCU per US$ of GDP | +19.0% |
| 1984 | 6.38 current LCU per US$ of GDP | +41.2% |
| 1985 | 5.73 current LCU per US$ of GDP | -10.3% |
| 1986 | 4.17 current LCU per US$ of GDP | -27.2% |
| 1987 | 3.65 current LCU per US$ of GDP | -12.5% |
| 1988 | 3.33 current LCU per US$ of GDP | -8.8% |
| 1989 | 2.9 current LCU per US$ of GDP | -12.7% |
| 1990 | 2.17 current LCU per US$ of GDP | -25.2% |
| 1991 | 2.13 current LCU per US$ of GDP | -1.8% |
| 1992 | 2.2 current LCU per US$ of GDP | +3.4% |
| 1993 | 1.87 current LCU per US$ of GDP | -14.9% |
| 1994 | 2.05 current LCU per US$ of GDP | +9.2% |
| 1995 | 1.96 current LCU per US$ of GDP | -4.3% |
| 1996 | 2.84 current LCU per US$ of GDP | +44.8% |
| 1997 | 3.23 current LCU per US$ of GDP | +13.8% |
| 1998 | 3.01 current LCU per US$ of GDP | -6.7% |
| 1999 | 3.61 current LCU per US$ of GDP | +19.8% |
| 2000 | 4.79 current LCU per US$ of GDP | +32.6% |
| 2001 | 4.44 current LCU per US$ of GDP | -7.2% |
| 2002 | 3.91 current LCU per US$ of GDP | -11.9% |
| 2003 | 4.05 current LCU per US$ of GDP | +3.5% |
| 2004 | 2.98 current LCU per US$ of GDP | -26.5% |
| 2005 | 3.53 current LCU per US$ of GDP | +18.6% |
| 2006 | 3.31 current LCU per US$ of GDP | -6.4% |
| 2007 | 3.12 current LCU per US$ of GDP | -5.5% |
| 2008 | 2.93 current LCU per US$ of GDP | -6.1% |
| 2009 | 2.85 current LCU per US$ of GDP | -2.7% |
| 2010 | 2.84 current LCU per US$ of GDP | -0.5% |
| 2011 | 2.87 current LCU per US$ of GDP | +1.0% |
| 2012 | 3.74 current LCU per US$ of GDP | +30.5% |
| 2013 | 3.29 current LCU per US$ of GDP | -12.0% |
| 2014 | 2.96 current LCU per US$ of GDP | -10.1% |
| 2015 | 3.53 current LCU per US$ of GDP | +19.1% |
| 2016 | 3.37 current LCU per US$ of GDP | -4.5% |
| 2017 | 3.36 current LCU per US$ of GDP | -0.2% |
| 2018 | 3.41 current LCU per US$ of GDP | +1.6% |
| 2019 | 3.53 current LCU per US$ of GDP | +3.3% |
| 2020 | 3.19 current LCU per US$ of GDP | -9.4% |
| 2021 | 3.24 current LCU per US$ of GDP | +1.4% |
| 2022 | 4.35 current LCU per US$ of GDP | +34.4% |
| 2023 | 3.87 current LCU per US$ of GDP | -11.1% |
| 2024 | 3.53 current LCU per US$ of GDP | -8.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 3.53 current LCU per US$ of GDP is above the median for high income countries, which is 0.8457 current LCU per US$ of GDP, 4.2× the median. (72 countries reporting)
- Faroe Islands's 3.53 current LCU per US$ of GDP is above the median for Europe & Central Asia, which is 1.17 current LCU per US$ of GDP, 3.0× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.12 current LCU per US$ of GDP | 2.81 current LCU per US$ of GDP | 3.34 current LCU per US$ of GDP | 5 |
| 1970s | 2.75 current LCU per US$ of GDP | 2.41 current LCU per US$ of GDP | 3.24 current LCU per US$ of GDP | 10 |
| 1980s | 4.04 current LCU per US$ of GDP | 2.54 current LCU per US$ of GDP | 6.38 current LCU per US$ of GDP | 10 |
| 1990s | 2.51 current LCU per US$ of GDP | 1.87 current LCU per US$ of GDP | 3.61 current LCU per US$ of GDP | 10 |
| 2000s | 3.59 current LCU per US$ of GDP | 2.85 current LCU per US$ of GDP | 4.79 current LCU per US$ of GDP | 10 |
| 2010s | 3.29 current LCU per US$ of GDP | 2.84 current LCU per US$ of GDP | 3.74 current LCU per US$ of GDP | 10 |
| 2020s | 3.64 current LCU per US$ of GDP | 3.19 current LCU per US$ of GDP | 4.35 current LCU per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 104 Eritrea 4.5 current LCU per US$ of GDP compare
- 105 Denmark 3.91 current LCU per US$ of GDP compare
- 106 Macau, China 3.76 current LCU per US$ of GDP compare
- 108 Greenland 3.52 current LCU per US$ of GDP compare
- 109 Norway 3.5 current LCU per US$ of GDP compare
- 110 Libya 3.5 current LCU per US$ of GDP compare
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 imports of goods and services (current lcu), per unit of gdp in Faroe Islands?
- Imports of goods and services (current lcu), per unit of gdp in Faroe Islands was 3.53 current LCU per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest imports of goods and services (current lcu), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 6.38 current LCU per US$ of GDP in 1984.
- What is the lowest imports of goods and services (current lcu), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 1.87 current LCU per US$ of GDP in 1993.
- How does Faroe Islands rank for imports of goods and services (current lcu), per unit of gdp?
- Faroe Islands ranks 107th out of 193 countries with data for 2024.
- Is imports of goods and services (current lcu), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 19.3%. 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 Imports of goods and services (current LCU), per unit of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Imports of goods and services (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Imports of goods and services (current LCU) ÷ GDP (current US$)
Computed from
- Imports 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
Imports of goods and services (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.