Imports of goods and services (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Imports of goods and services (current US$), per unit of GDP was 0.512 current US$ per US$ of GDP in 2024. ▲ Rising
Latest (2024)
0.512 current US$ per US$ of GDP
Change on year
down 8.8%
World rank
82nd
of 193 countries
All-time high
0.646 current US$ per US$ of GDP
in 2012
All-time low
0.289 current US$ per US$ of GDP
in 1993
Years of data
60
1965–2024
Imports 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
The most recent figure for imports of goods and services (current us$), per unit of gdp in Faroe Islands is 0.512 current US$ per US$ of GDP, measured in 2024.
Compared with earlier readings it is down 8.8% on the previous year and down 2.9% over ten years.
Over the whole period, imports of goods and services (current us$), per unit of gdp in Faroe Islands peaked at 0.646 current US$ per US$ of GDP in 2012 and was at its lowest, 0.289 current US$ per US$ of GDP, in 1993.
Faroe Islands ranks 82nd 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 US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1965 | 0.4554 current US$ per US$ of GDP | — |
| 1966 | 0.4388 current US$ per US$ of GDP | -3.6% |
| 1967 | 0.4044 current US$ per US$ of GDP | -7.9% |
| 1968 | 0.4324 current US$ per US$ of GDP | +6.9% |
| 1969 | 0.446 current US$ per US$ of GDP | +3.1% |
| 1970 | 0.3586 current US$ per US$ of GDP | -19.6% |
| 1971 | 0.4092 current US$ per US$ of GDP | +14.1% |
| 1972 | 0.3927 current US$ per US$ of GDP | -4.0% |
| 1973 | 0.4227 current US$ per US$ of GDP | +7.6% |
| 1974 | 0.531 current US$ per US$ of GDP | +25.6% |
| 1975 | 0.4984 current US$ per US$ of GDP | -6.1% |
| 1976 | 0.4829 current US$ per US$ of GDP | -3.1% |
| 1977 | 0.4362 current US$ per US$ of GDP | -9.7% |
| 1978 | 0.4494 current US$ per US$ of GDP | +3.0% |
| 1979 | 0.4589 current US$ per US$ of GDP | +2.1% |
| 1980 | 0.4505 current US$ per US$ of GDP | -1.8% |
| 1981 | 0.4696 current US$ per US$ of GDP | +4.2% |
| 1982 | 0.4558 current US$ per US$ of GDP | -2.9% |
| 1983 | 0.4942 current US$ per US$ of GDP | +8.4% |
| 1984 | 0.6164 current US$ per US$ of GDP | +24.7% |
| 1985 | 0.5404 current US$ per US$ of GDP | -12.3% |
| 1986 | 0.5152 current US$ per US$ of GDP | -4.6% |
| 1987 | 0.5331 current US$ per US$ of GDP | +3.5% |
| 1988 | 0.494 current US$ per US$ of GDP | -7.3% |
| 1989 | 0.3969 current US$ per US$ of GDP | -19.7% |
| 1990 | 0.3505 current US$ per US$ of GDP | -11.7% |
| 1991 | 0.3329 current US$ per US$ of GDP | -5.0% |
| 1992 | 0.3647 current US$ per US$ of GDP | +9.6% |
| 1993 | 0.289 current US$ per US$ of GDP | -20.7% |
| 1994 | 0.3218 current US$ per US$ of GDP | +11.3% |
| 1995 | 0.3497 current US$ per US$ of GDP | +8.7% |
| 1996 | 0.4892 current US$ per US$ of GDP | +39.9% |
| 1997 | 0.4889 current US$ per US$ of GDP | -0.1% |
| 1998 | 0.4496 current US$ per US$ of GDP | -8.0% |
| 1999 | 0.5173 current US$ per US$ of GDP | +15.1% |
| 2000 | 0.5921 current US$ per US$ of GDP | +14.5% |
| 2001 | 0.5334 current US$ per US$ of GDP | -9.9% |
| 2002 | 0.4956 current US$ per US$ of GDP | -7.1% |
| 2003 | 0.6149 current US$ per US$ of GDP | +24.1% |
| 2004 | 0.4971 current US$ per US$ of GDP | -19.1% |
| 2005 | 0.5892 current US$ per US$ of GDP | +18.5% |
| 2006 | 0.556 current US$ per US$ of GDP | -5.6% |
| 2007 | 0.5738 current US$ per US$ of GDP | +3.2% |
| 2008 | 0.5752 current US$ per US$ of GDP | +0.3% |
| 2009 | 0.532 current US$ per US$ of GDP | -7.5% |
| 2010 | 0.5046 current US$ per US$ of GDP | -5.2% |
| 2011 | 0.5341 current US$ per US$ of GDP | +5.9% |
| 2012 | 0.646 current US$ per US$ of GDP | +20.9% |
| 2013 | 0.5862 current US$ per US$ of GDP | -9.3% |
| 2014 | 0.5273 current US$ per US$ of GDP | -10.0% |
| 2015 | 0.5239 current US$ per US$ of GDP | -0.6% |
| 2016 | 0.5002 current US$ per US$ of GDP | -4.5% |
| 2017 | 0.5087 current US$ per US$ of GDP | +1.7% |
| 2018 | 0.5406 current US$ per US$ of GDP | +6.3% |
| 2019 | 0.5285 current US$ per US$ of GDP | -2.2% |
| 2020 | 0.488 current US$ per US$ of GDP | -7.7% |
| 2021 | 0.5151 current US$ per US$ of GDP | +5.6% |
| 2022 | 0.6149 current US$ per US$ of GDP | +19.4% |
| 2023 | 0.5614 current US$ per US$ of GDP | -8.7% |
| 2024 | 0.512 current US$ per US$ of GDP | -8.8% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.512 current US$ per US$ of GDP is above the median for high income countries, which is 0.5115 current US$ per US$ of GDP, 1.0× the median. (72 countries reporting)
- Faroe Islands's 0.512 current US$ per US$ of GDP is below the median for Europe & Central Asia, which is 0.5267 current US$ per US$ of GDP, 97% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 0.4354 current US$ per US$ of GDP | 0.4044 current US$ per US$ of GDP | 0.4554 current US$ per US$ of GDP | 5 |
| 1970s | 0.444 current US$ per US$ of GDP | 0.3586 current US$ per US$ of GDP | 0.531 current US$ per US$ of GDP | 10 |
| 1980s | 0.4966 current US$ per US$ of GDP | 0.3969 current US$ per US$ of GDP | 0.6164 current US$ per US$ of GDP | 10 |
| 1990s | 0.3954 current US$ per US$ of GDP | 0.289 current US$ per US$ of GDP | 0.5173 current US$ per US$ of GDP | 10 |
| 2000s | 0.5559 current US$ per US$ of GDP | 0.4956 current US$ per US$ of GDP | 0.6149 current US$ per US$ of GDP | 10 |
| 2010s | 0.54 current US$ per US$ of GDP | 0.5002 current US$ per US$ of GDP | 0.646 current US$ per US$ of GDP | 10 |
| 2020s | 0.5383 current US$ per US$ of GDP | 0.488 current US$ per US$ of GDP | 0.6149 current US$ per US$ of GDP | 5 |
Countries ranked near Faroe Islands
- 79 Brunei Darussalam 0.5204 current US$ per US$ of GDP compare
- 80 Ukraine 0.5185 current US$ per US$ of GDP compare
- 81 Bulgaria 0.5178 current US$ per US$ of GDP compare
- 83 Morocco 0.5113 current US$ per US$ of GDP compare
- 84 Sweden 0.5111 current US$ per US$ of GDP compare
- 85 Greenland 0.5109 current US$ 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 us$), per unit of gdp in Faroe Islands?
- Imports of goods and services (current us$), per unit of gdp in Faroe Islands was 0.512 current US$ per US$ of GDP in 2024, according to Statizoid (derived).
- What is the highest imports of goods and services (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.646 current US$ per US$ of GDP in 2012.
- What is the lowest imports of goods and services (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.289 current US$ per US$ of GDP in 1993.
- How does Faroe Islands rank for imports of goods and services (current us$), per unit of gdp?
- Faroe Islands ranks 82nd out of 193 countries with data for 2024.
- Is imports of goods and services (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is down 2.9%. 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 US$), per unit of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Imports of goods and services (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Imports of goods and services (current US$) ÷ GDP (current US$)
Computed from
- Imports of goods and services Country official statistics, National Statistical Offices (NSOs)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Imports of goods and services (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.