Net primary income (Net income from abroad) (current US$) (US current) in Faroe Islands
Faroe Islands: Net primary income (Net income from abroad) (current US$) (US current) was 68.52 million current US$ 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 US$.
Analysis
Faroe Islands recorded 68.52 million current US$ for net primary income (net income from abroad) in 2024.
That represents a change of up 143.5% on the previous year and down 34.7% over ten years.
Over the whole period, net primary income (net income from abroad) in Faroe Islands peaked at 146.88 million current US$ in 2013 and was at its lowest, -51.88 million current US$, in 2009.
That places Faroe Islands 42nd out of 209 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net primary income (Net income from abroad) (current US$) (US current) in Faroe Islands, year by year
| Year | current US$ | Change |
|---|---|---|
| 1998 | 34.25 million current US$ | — |
| 1999 | 42.80 million current US$ | +25.0% |
| 2000 | 40.96 million current US$ | -4.3% |
| 2001 | 30.63 million current US$ | -25.2% |
| 2002 | 40.03 million current US$ | +30.7% |
| 2003 | 54.94 million current US$ | +37.2% |
| 2004 | 65.81 million current US$ | +19.8% |
| 2005 | 60.86 million current US$ | -7.5% |
| 2006 | 67.38 million current US$ | +10.7% |
| 2007 | 68.80 million current US$ | +2.1% |
| 2008 | 15.44 million current US$ | -77.6% |
| 2009 | -51.88 million current US$ | -436.0% |
| 2010 | 30.25 million current US$ | -158.3% |
| 2011 | 135.23 million current US$ | +347.1% |
| 2012 | 126.23 million current US$ | -6.7% |
| 2013 | 146.88 million current US$ | +16.4% |
| 2014 | 104.91 million current US$ | -28.6% |
| 2015 | 69.67 million current US$ | -33.6% |
| 2016 | 102.66 million current US$ | +47.4% |
| 2017 | 100.17 million current US$ | -2.4% |
| 2018 | 91.01 million current US$ | -9.1% |
| 2019 | 93.59 million current US$ | +2.8% |
| 2020 | 78.69 million current US$ | -15.9% |
| 2021 | 127.18 million current US$ | +61.6% |
| 2022 | 89.34 million current US$ | -29.8% |
| 2023 | 28.14 million current US$ | -68.5% |
| 2024 | 68.52 million current US$ | +143.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 68.52 million current US$ is above the median for high income countries, which is -774.68 million current US$. (77 countries reporting)
- Faroe Islands's 68.52 million current US$ is above the median for Europe & Central Asia, which is -905.76 million current US$. (55 countries reporting)
Biggest year-on-year movements
Years where Net primary income (Net income from abroad) (current US$) (US current) in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | -436.0% | 15.44 million current US$ | -51.88 million current US$ |
| 2011 | +347.1% | 30.25 million current US$ | 135.23 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 38.53 million current US$ | 34.25 million current US$ | 42.80 million current US$ | 2 |
| 2000s | 39.30 million current US$ | -51.88 million current US$ | 68.80 million current US$ | 10 |
| 2010s | 100.06 million current US$ | 30.25 million current US$ | 146.88 million current US$ | 10 |
| 2020s | 78.38 million current US$ | 28.14 million current US$ | 127.18 million current US$ | 5 |
Countries ranked near Faroe Islands
- 39 Afghanistan 76.25 million current US$ compare
- 40 Nauru 74.43 million current US$ compare
- 41 Montenegro 71.07 million current US$ compare
- 43 Curacao 64.14 million current US$ compare
- 44 Marshall Islands 56.00 million current US$ compare
- 45 Micronesia (country) 51.90 million current US$ compare
More economy & growth data for Faroe Islands
- Exports of goods and services (current US$), annual growth rate -1.96 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ 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)
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross national expenditure (current US$), per capita 71,683 current US$ per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is net primary income (net income from abroad) in Faroe Islands?
- Net primary income (net income from abroad) in Faroe Islands was 68.52 million current US$ 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 146.88 million current US$ in 2013.
- What is the lowest net primary income (net income from abroad) recorded in Faroe Islands?
- The lowest recorded value was -51.88 million current US$ in 2009.
- How does Faroe Islands rank for net primary income (net income from abroad)?
- Faroe Islands ranks 42nd out of 209 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 34.7%. 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 US$). 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 indicator is expressed in United States dollars.