Secondary income, other sectors, payments in Faroe Islands
Faroe Islands: Secondary income, other sectors, payments was 24.20 million BoP, current US$ in 2011. ◆ Volatile
Secondary income, other sectors, payments in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for secondary income, other sectors, payments in Faroe Islands is 24.20 million BoP, current US$, measured in 2011.
That represents a change of down 23.8% on the previous year and up 559.4% over ten years.
Over the whole period, secondary income, other sectors, payments in Faroe Islands peaked at 31.75 million BoP, current US$ in 2010 and was at its lowest, 2.03 million BoP, current US$, in 2000.
Faroe Islands ranks 179th of 197 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Secondary income, other sectors, payments in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 2.07 million BoP, current US$ | — |
| 1999 | 2.19 million BoP, current US$ | +5.8% |
| 2000 | 2.03 million BoP, current US$ | -7.3% |
| 2001 | 3.67 million BoP, current US$ | +80.8% |
| 2002 | 4.65 million BoP, current US$ | +26.7% |
| 2003 | 4.84 million BoP, current US$ | +4.1% |
| 2004 | 17.26 million BoP, current US$ | +256.7% |
| 2005 | 16.86 million BoP, current US$ | -2.3% |
| 2006 | 19.72 million BoP, current US$ | +17.0% |
| 2007 | 23.96 million BoP, current US$ | +21.5% |
| 2008 | 26.10 million BoP, current US$ | +8.9% |
| 2009 | 24.54 million BoP, current US$ | -6.0% |
| 2010 | 31.75 million BoP, current US$ | +29.4% |
| 2011 | 24.20 million BoP, current US$ | -23.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.13 million BoP, current US$ | 2.07 million BoP, current US$ | 2.19 million BoP, current US$ | 2 |
| 2000s | 14.36 million BoP, current US$ | 2.03 million BoP, current US$ | 26.10 million BoP, current US$ | 10 |
| 2010s | 27.97 million BoP, current US$ | 24.20 million BoP, current US$ | 31.75 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 176 Dominica 30.53 million BoP, current US$ compare
- 177 Central African Republic 28.28 million BoP, current US$
- 178 Naoero 27.93 million BoP, current US$
- 180 Mauritania 23.81 million BoP, current US$ compare
- 181 Burundi 19.91 million BoP, current US$ compare
- 182 Palau 19.56 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- GDP (current US$), annual growth rate 2.78 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 451,018 current LCU per person (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 6.08 current LCU per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current LCU), annual growth 1.67 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per capita 65,417 current US$ per person (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8819 current US$ per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 1.6 % change on previous year (2024)
- GNI 28.42 billion current LCU (2024)
- GDP per capita 377,557 constant LCU (2024)
- Gross domestic savings (current US$), per unit of GDP 0.3153 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is secondary income, other sectors, payments in Faroe Islands?
- Secondary income, other sectors, payments in Faroe Islands was 24.20 million BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest secondary income, other sectors, payments recorded in Faroe Islands?
- The highest recorded value was 31.75 million BoP, current US$ in 2010.
- What is the lowest secondary income, other sectors, payments recorded in Faroe Islands?
- The lowest recorded value was 2.03 million BoP, current US$ in 2000.
- How does Faroe Islands rank for secondary income, other sectors, payments?
- Faroe Islands ranks 179th out of 197 countries with data for 2011.
- Is secondary income, other sectors, payments rising or falling in Faroe Islands?
- Over the last ten years it is up 559.4%. The long-run trend across the full record is volatile.
- 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 Secondary income, other sectors, payments (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Secondary income refers to transfers recorded in the balance of payments whenever an economy provides or receives goods, services, income, or financial items without a quid pro quo. All transfers not considered to be capital are current. 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.