Net secondary income (Net current transfers from abroad) (current) in Faroe Islands
Faroe Islands: Net secondary income (Net current transfers from abroad) (current) was -39.94 % change on previous year in 2024. ◆ Volatile
Net secondary income (Net current transfers from abroad) (current) in Faroe Islands, 1999–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, net secondary income (net current transfers from abroad) (current) in Faroe Islands stood at -39.94 % change on previous year. That is the lowest value across all 26 years on record.
That represents a change of down 208.0% on the previous year and down 11,395.6% over ten years.
Over the whole period, net secondary income (net current transfers from abroad) (current) in Faroe Islands peaked at 38.45 % change on previous year in 2017 and was at its lowest, -39.94 % change on previous year, in 2024.
Faroe Islands ranks 179th of 201 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net secondary income (Net current transfers from abroad) (current) in Faroe Islands, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1999 | 1.92 % change on previous year | — |
| 2000 | 4.19 % change on previous year | +117.9% |
| 2001 | -1.77 % change on previous year | -142.2% |
| 2002 | -33.64 % change on previous year | +1802.6% |
| 2003 | -0.0935 % change on previous year | -99.7% |
| 2004 | 2.98 % change on previous year | -3288.7% |
| 2005 | 5.87 % change on previous year | +96.8% |
| 2006 | 8.06 % change on previous year | +37.3% |
| 2007 | 28.11 % change on previous year | +248.8% |
| 2008 | -30.49 % change on previous year | -208.5% |
| 2009 | -3.75 % change on previous year | -87.7% |
| 2010 | 12.49 % change on previous year | -433.2% |
| 2011 | 20.7 % change on previous year | +65.7% |
| 2012 | -24.21 % change on previous year | -217.0% |
| 2013 | 5.59 % change on previous year | -123.1% |
| 2014 | 0.3536 % change on previous year | -93.7% |
| 2015 | 4.64 % change on previous year | +1212.6% |
| 2016 | -1.78 % change on previous year | -138.3% |
| 2017 | 38.45 % change on previous year | -2264.6% |
| 2018 | -24.83 % change on previous year | -164.6% |
| 2019 | 7.75 % change on previous year | -131.2% |
| 2020 | 12.76 % change on previous year | +64.8% |
| 2021 | -32.18 % change on previous year | -352.1% |
| 2022 | -18.65 % change on previous year | -42.1% |
| 2023 | 36.99 % change on previous year | -298.3% |
| 2024 | -39.94 % change on previous year | -208.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.92 % change on previous year | 1.92 % change on previous year | 1.92 % change on previous year | 1 |
| 2000s | -2.05 % change on previous year | -33.64 % change on previous year | 28.11 % change on previous year | 10 |
| 2010s | 3.92 % change on previous year | -24.83 % change on previous year | 38.45 % change on previous year | 10 |
| 2020s | -8.2 % change on previous year | -39.94 % change on previous year | 36.99 % change on previous year | 5 |
Countries ranked near Faroe Islands
- 176 Israel -33.29 % change on previous year compare
- 177 San Marino -34.75 % change on previous year compare
- 178 Republic of Korea -38.58 % change on previous year compare
- 180 Mauritius -41.46 % change on previous year compare
- 181 Tanzania, United Republic of -42.76 % change on previous year compare
- 182 Haiti -43.03 % change on previous year compare
More economy & growth data for Faroe Islands
- Manufacturing, value added (current LCU), per unit of GDP 0.6524 current LCU per US$ of GDP (2024)
- Services, value added (current US$), annual growth rate 7.14 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 93,585 current LCU per person (2024)
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Industry (including construction), value added (current LCU), annual -5.07 % change on previous year (2024)
- Industry (including construction), value added (current US$), per 13,574 current US$ per person (2024)
- Industry (including construction), value added (current US$), per 0.183 current US$ per US$ of GDP (2024)
- Industry (including construction), value added (current US$), annual -5.14 % change on previous year (2024)
- Manufacturing, value added (current LCU), per capita 48,390 current LCU per person (2024)
- External balance on goods and services (current LCU), annual growth 228.14 % change on previous year (2024)
Frequently asked questions
- What is net secondary income (net current transfers from abroad) (current) in Faroe Islands?
- Net secondary income (net current transfers from abroad) (current) in Faroe Islands was -39.94 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest net secondary income (net current transfers from abroad) (current) recorded in Faroe Islands?
- The highest recorded value was 38.45 % change on previous year in 2017.
- What is the lowest net secondary income (net current transfers from abroad) (current) recorded in Faroe Islands?
- The lowest recorded value was -39.94 % change on previous year in 2024.
- How does Faroe Islands rank for net secondary income (net current transfers from abroad) (current)?
- Faroe Islands ranks 179th out of 201 countries with data for 2024.
- Is net secondary income (net current transfers from abroad) (current) rising or falling in Faroe Islands?
- Over the last ten years it is down 11,395.6%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Net secondary income (Net current transfers from abroad) (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
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How this figure is calculated
The year-on-year percentage change in Net secondary income (Net current transfers from abroad) (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Net secondary income (Net current transfers from abroad) Country official statistics, National Statistical Offices (NSOs)
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
The year-on-year percentage change in Net secondary income (Net current transfers from abroad) (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.