Imports of goods, services and primary income in Faroe Islands
Faroe Islands: Imports of goods, services and primary income was 1.46 billion BoP, current US$ in 2011. ▲ Rising
Imports of goods, services and primary income in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for imports of goods, services and primary income in Faroe Islands is 1.46 billion BoP, current US$, measured in 2011.
The figure is up 18.0% on the previous year and up 121.2% over ten years.
Over the whole period, imports of goods, services and primary income in Faroe Islands peaked at 1.52 billion BoP, current US$ in 2008 and was at its lowest, 547.24 million BoP, current US$, in 1998.
Faroe Islands ranks 178th of 200 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 14 years of available data.
Imports of goods, services and primary income in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 547.24 million BoP, current US$ | — |
| 1999 | 628.21 million BoP, current US$ | +14.8% |
| 2000 | 678.99 million BoP, current US$ | +8.1% |
| 2001 | 660.06 million BoP, current US$ | -2.8% |
| 2002 | 676.95 million BoP, current US$ | +2.6% |
| 2003 | 906.72 million BoP, current US$ | +33.9% |
| 2004 | 808.23 million BoP, current US$ | -10.9% |
| 2005 | 982.53 million BoP, current US$ | +21.6% |
| 2006 | 1.13 billion BoP, current US$ | +14.5% |
| 2007 | 1.47 billion BoP, current US$ | +30.3% |
| 2008 | 1.52 billion BoP, current US$ | +3.5% |
| 2009 | 1.26 billion BoP, current US$ | -16.8% |
| 2010 | 1.24 billion BoP, current US$ | -2.0% |
| 2011 | 1.46 billion BoP, current US$ | +18.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 1.46 billion BoP, current US$ is below the median for high income countries, which is 76.45 billion BoP, current US$, 2% of the median. (72 countries reporting)
- Faroe Islands's 1.46 billion BoP, current US$ is below the median for Europe & Central Asia, which is 104.49 billion BoP, current US$, 1% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 587.73 million BoP, current US$ | 547.24 million BoP, current US$ | 628.21 million BoP, current US$ | 2 |
| 2000s | 1.01 billion BoP, current US$ | 660.06 million BoP, current US$ | 1.52 billion BoP, current US$ | 10 |
| 2010s | 1.35 billion BoP, current US$ | 1.24 billion BoP, current US$ | 1.46 billion BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 175 Burundi 1.56 billion BoP, current US$ compare
- 176 Sint Maarten (Dutch part) 1.56 billion BoP, current US$
- 177 Antigua and Barbuda 1.51 billion BoP, current US$ compare
- 179 Grenada 1.12 billion BoP, current US$ compare
- 180 Solomon Islands 924.31 million BoP, current US$ compare
- 181 Saint Kitts and Nevis 761.71 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- General government final consumption expenditure (current LCU) 6.25 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 6.08 current LCU 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 US$), per capita 40,467 current US$ per person (2024)
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
Frequently asked questions
- What is imports of goods, services and primary income in Faroe Islands?
- Imports of goods, services and primary income in Faroe Islands was 1.46 billion BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest imports of goods, services and primary income recorded in Faroe Islands?
- The highest recorded value was 1.52 billion BoP, current US$ in 2008.
- What is the lowest imports of goods, services and primary income recorded in Faroe Islands?
- The lowest recorded value was 547.24 million BoP, current US$ in 1998.
- How does Faroe Islands rank for imports of goods, services and primary income?
- Faroe Islands ranks 178th out of 200 countries with data for 2011.
- Is imports of goods, services and primary income rising or falling in Faroe Islands?
- Over the last ten years it is up 121.2%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Imports of goods, services and primary income (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. Primary income represents the return that accrues to institutional units for their contribution to the production process or for the provision of financial assets and renting natural resources to other institutional units. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.