Net secondary income in Faroe Islands
Faroe Islands: Net secondary income was 202.96 million BoP, current US$ in 2011. ▲ Rising
Net secondary income in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Faroe Islands recorded 202.96 million BoP, current US$ for net secondary income in 2011. That is the highest value across all 14 years on record.
That represents a change of up 39.0% on the previous year and up 42.3% over ten years.
Over the whole period, net secondary income in Faroe Islands peaked at 202.96 million BoP, current US$ in 2011 and was at its lowest, 102.09 million BoP, current US$, in 2002.
Faroe Islands ranks 106th of 199 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Net secondary income in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 165.96 million BoP, current US$ | — |
| 1999 | 163.11 million BoP, current US$ | -1.7% |
| 2000 | 145.93 million BoP, current US$ | -10.5% |
| 2001 | 142.65 million BoP, current US$ | -2.2% |
| 2002 | 102.09 million BoP, current US$ | -28.4% |
| 2003 | 122.59 million BoP, current US$ | +20.1% |
| 2004 | 128.50 million BoP, current US$ | +4.8% |
| 2005 | 132.13 million BoP, current US$ | +2.8% |
| 2006 | 141.39 million BoP, current US$ | +7.0% |
| 2007 | 201.59 million BoP, current US$ | +42.6% |
| 2008 | 149.49 million BoP, current US$ | -25.8% |
| 2009 | 142.80 million BoP, current US$ | -4.5% |
| 2010 | 146.06 million BoP, current US$ | +2.3% |
| 2011 | 202.96 million BoP, current US$ | +39.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 164.53 million BoP, current US$ | 163.11 million BoP, current US$ | 165.96 million BoP, current US$ | 2 |
| 2000s | 140.92 million BoP, current US$ | 102.09 million BoP, current US$ | 201.59 million BoP, current US$ | 10 |
| 2010s | 174.51 million BoP, current US$ | 146.06 million BoP, current US$ | 202.96 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 103 Papua New Guinea 276.26 million BoP, current US$ compare
- 104 Benin 258.86 million BoP, current US$ compare
- 105 Lithuania 233.02 million BoP, current US$ compare
- 107 Tonga 201.37 million BoP, current US$ compare
- 108 Chad 190.97 million BoP, current US$
- 109 Venezuela, Bolivarian Republic of 174.00 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- Gdp per capita in international and market dollars 59,302 (2024)
- Industry (including construction), value added 741.68 million current US$ (2024)
- Industry (including construction), value added 5.11 billion current LCU (2024)
- Industry (including construction), value added 18.3% (2024)
- Services, value added 2.18 billion current US$ (2024)
- Services, value added 15.04 billion current LCU (2024)
- Services, value added 53.8% (2024)
- Net secondary income (Net current transfers from abroad) 70.43 million current US$ (2024)
- Taxes less subsidies on products 478.54 million current US$ (2024)
- Taxes less subsidies on products 3.30 billion current LCU (2024)
Frequently asked questions
- What is net secondary income in Faroe Islands?
- Net secondary income in Faroe Islands was 202.96 million BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net secondary income recorded in Faroe Islands?
- The highest recorded value was 202.96 million BoP, current US$ in 2011.
- What is the lowest net secondary income recorded in Faroe Islands?
- The lowest recorded value was 102.09 million BoP, current US$ in 2002.
- How does Faroe Islands rank for net secondary income?
- Faroe Islands ranks 106th out of 199 countries with data for 2011.
- Is net secondary income rising or falling in Faroe Islands?
- Over the last ten years it is up 42.3%. 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 Net secondary income (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. 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.