Personal remittances, paid (current US$), per unit of GDP in Faroe Islands
Faroe Islands: Personal remittances, paid (current US$), per unit of GDP was 0.0137 current US$ per US$ of GDP in 2011. ▲ Rising
Personal remittances, paid (current US$), per unit of GDP in Faroe Islands, 1998–2011
Source: Statizoid (derived). Measured in current US$ per US$ of GDP.
Analysis
Faroe Islands recorded 0.0137 current US$ per US$ of GDP for personal remittances, paid (current us$), per unit of gdp in 2011.
Compared with earlier readings it is up 3.2% on the previous year and up 18.8% over ten years.
Over the whole period, personal remittances, paid (current us$), per unit of gdp in Faroe Islands peaked at 0.0165 current US$ per US$ of GDP in 2008 and was at its lowest, 0.0031 current US$ per US$ of GDP, in 2004.
That places Faroe Islands 65th out of 195 countries with data for 2011, putting it in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Personal remittances, paid (current US$), per unit of GDP in Faroe Islands, year by year
| Year | current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.0063 current US$ per US$ of GDP | — |
| 1999 | 0.0055 current US$ per US$ of GDP | -12.9% |
| 2000 | 0.0054 current US$ per US$ of GDP | -1.4% |
| 2001 | 0.0116 current US$ per US$ of GDP | +114.9% |
| 2002 | 0.0076 current US$ per US$ of GDP | -34.6% |
| 2003 | 0.0034 current US$ per US$ of GDP | -55.0% |
| 2004 | 0.0031 current US$ per US$ of GDP | -9.1% |
| 2005 | 0.0104 current US$ per US$ of GDP | +236.9% |
| 2006 | 0.0116 current US$ per US$ of GDP | +11.4% |
| 2007 | 0.0143 current US$ per US$ of GDP | +22.9% |
| 2008 | 0.0165 current US$ per US$ of GDP | +15.5% |
| 2009 | 0.0137 current US$ per US$ of GDP | -17.1% |
| 2010 | 0.0133 current US$ per US$ of GDP | -2.6% |
| 2011 | 0.0137 current US$ per US$ of GDP | +3.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.0137 current US$ per US$ of GDP is above the median for high income countries, which is 0.0111 current US$ per US$ of GDP, 1.2× the median. (71 countries reporting)
- Faroe Islands's 0.0137 current US$ per US$ of GDP is above the median for Europe & Central Asia, which is 0.0085 current US$ per US$ of GDP, 1.6× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Personal remittances, paid (current US$), per unit of GDP in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +236.9% | 0.0031 current US$ per US$ of GDP | 0.0104 current US$ per US$ of GDP |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0059 current US$ per US$ of GDP | 0.0055 current US$ per US$ of GDP | 0.0063 current US$ per US$ of GDP | 2 |
| 2000s | 0.0097 current US$ per US$ of GDP | 0.0031 current US$ per US$ of GDP | 0.0165 current US$ per US$ of GDP | 10 |
| 2010s | 0.0135 current US$ per US$ of GDP | 0.0133 current US$ per US$ of GDP | 0.0137 current US$ per US$ of GDP | 2 |
Countries ranked near Faroe Islands
- 62 Jamaica 0.0142 current US$ per US$ of GDP compare
- 63 Latvia 0.0138 current US$ per US$ of GDP compare
- 64 Belize 0.0138 current US$ per US$ of GDP compare
- 66 Togo 0.0135 current US$ per US$ of GDP compare
- 67 Chad 0.0131 current US$ per US$ of GDP
- 68 Dominica 0.0125 current US$ per US$ of GDP compare
More economy & growth data for Faroe Islands
- 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$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current 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)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is personal remittances, paid (current us$), per unit of gdp in Faroe Islands?
- Personal remittances, paid (current us$), per unit of gdp in Faroe Islands was 0.0137 current US$ per US$ of GDP in 2011, according to Statizoid (derived).
- What is the highest personal remittances, paid (current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.0165 current US$ per US$ of GDP in 2008.
- What is the lowest personal remittances, paid (current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.0031 current US$ per US$ of GDP in 2004.
- How does Faroe Islands rank for personal remittances, paid (current us$), per unit of gdp?
- Faroe Islands ranks 65th out of 195 countries with data for 2011.
- Is personal remittances, paid (current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 18.8%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of Personal remittances, paid (current US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Personal remittances, paid (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Personal remittances, paid (current US$) ÷ GDP (current US$)
Computed from
- Personal remittances, paid IMF balance of payments data, International Monetary Fund (IMF)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Personal remittances, paid (current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.