Net primary income (Net income from abroad) in Faroe Islands
Faroe Islands: Net primary income (Net income from abroad) was 472.40 million current LCU in 2024. ◆ Volatile
Net primary income (Net income from abroad) in Faroe Islands, 1998–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current LCU.
Analysis
The most recent figure for net primary income (net income from abroad) in Faroe Islands is 472.40 million current LCU, measured in 2024.
The figure is up 143.6% on the previous year and down 19.8% over ten years.
Over the whole period, net primary income (net income from abroad) in Faroe Islands peaked at 824.90 million current LCU in 2013 and was at its lowest, -278.10 million current LCU, in 2009.
Faroe Islands ranks 38th of 207 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net primary income (Net income from abroad) in Faroe Islands, year by year
| Year | current LCU | Change |
|---|---|---|
| 1998 | 229.50 million current LCU | — |
| 1999 | 298.60 million current LCU | +30.1% |
| 2000 | 331.10 million current LCU | +10.9% |
| 2001 | 254.90 million current LCU | -23.0% |
| 2002 | 316.00 million current LCU | +24.0% |
| 2003 | 361.90 million current LCU | +14.5% |
| 2004 | 394.30 million current LCU | +9.0% |
| 2005 | 365.00 million current LCU | -7.4% |
| 2006 | 400.70 million current LCU | +9.8% |
| 2007 | 374.50 million current LCU | -6.5% |
| 2008 | 78.70 million current LCU | -79.0% |
| 2009 | -278.10 million current LCU | -453.4% |
| 2010 | 170.10 million current LCU | -161.2% |
| 2011 | 726.00 million current LCU | +326.8% |
| 2012 | 731.20 million current LCU | +0.7% |
| 2013 | 824.90 million current LCU | +12.8% |
| 2014 | 588.80 million current LCU | -28.6% |
| 2015 | 468.70 million current LCU | -20.4% |
| 2016 | 691.10 million current LCU | +47.5% |
| 2017 | 661.40 million current LCU | -4.3% |
| 2018 | 574.70 million current LCU | -13.1% |
| 2019 | 624.20 million current LCU | +8.6% |
| 2020 | 514.80 million current LCU | -17.5% |
| 2021 | 799.60 million current LCU | +55.3% |
| 2022 | 632.20 million current LCU | -20.9% |
| 2023 | 193.90 million current LCU | -69.3% |
| 2024 | 472.40 million current LCU | +143.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 264.05 million current LCU | 229.50 million current LCU | 298.60 million current LCU | 2 |
| 2000s | 259.90 million current LCU | -278.10 million current LCU | 400.70 million current LCU | 10 |
| 2010s | 606.11 million current LCU | 170.10 million current LCU | 824.90 million current LCU | 10 |
| 2020s | 522.58 million current LCU | 193.90 million current LCU | 799.60 million current LCU | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Services, value added (current US$), per unit of GDP 0.5383 current US$ per US$ of GDP (2024)
- Services, value added (current US$), per capita 39,926 current US$ per person (2024)
- Services, value added (current LCU), annual growth rate 7.22 % change on previous year (2024)
- Services, value added (current LCU), per unit of GDP 3.71 current LCU per US$ of GDP (2024)
- Services, value added (current LCU), per capita 275,271 current LCU per person (2024)
- GDP deflator (base year varies by country), annual growth rate 2 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8819 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is net primary income (net income from abroad) in Faroe Islands?
- Net primary income (net income from abroad) in Faroe Islands was 472.40 million current LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest net primary income (net income from abroad) recorded in Faroe Islands?
- The highest recorded value was 824.90 million current LCU in 2013.
- What is the lowest net primary income (net income from abroad) recorded in Faroe Islands?
- The lowest recorded value was -278.10 million current LCU in 2009.
- How does Faroe Islands rank for net primary income (net income from abroad)?
- Faroe Islands ranks 38th out of 207 countries with data for 2024.
- Is net primary income (net income from abroad) rising or falling in Faroe Islands?
- Over the last ten years it is down 19.8%. 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 Offices (NSOs), published as part of Net primary income (Net income from abroad) (current LCU). Statizoid updates them automatically from the source API.
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About this data
Net primary income includes the net labor income and net property and entrepreneurial income components of the SNA. Labor income covers compensation of employees paid to nonresident workers. Property and entrepreneurial income covers investment income from the ownership of foreign financial claims (interest, dividends, rent, etc.) and nonfinancial property income (patents, copyrights, etc.). 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.