Secondary income receipts in Faroe Islands
Faroe Islands: Secondary income receipts was 231.36 million BoP, current US$ in 2011. ▲ Rising
Secondary income receipts in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for secondary income receipts in Faroe Islands is 231.36 million BoP, current US$, measured in 2011. That is the highest value across all 14 years on record.
Compared with earlier readings it is up 28.2% on the previous year and up 57.5% over ten years.
Over the whole period, secondary income receipts in Faroe Islands peaked at 231.36 million BoP, current US$ in 2011 and was at its lowest, 109.16 million BoP, current US$, in 2002.
Faroe Islands ranks 158th of 198 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 14 years of available data.
Secondary income receipts in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 168.38 million BoP, current US$ | — |
| 1999 | 165.83 million BoP, current US$ | -1.5% |
| 2000 | 148.25 million BoP, current US$ | -10.6% |
| 2001 | 146.86 million BoP, current US$ | -0.9% |
| 2002 | 109.16 million BoP, current US$ | -25.7% |
| 2003 | 128.21 million BoP, current US$ | +17.5% |
| 2004 | 151.60 million BoP, current US$ | +18.2% |
| 2005 | 150.87 million BoP, current US$ | -0.5% |
| 2006 | 163.07 million BoP, current US$ | +8.1% |
| 2007 | 228.18 million BoP, current US$ | +39.9% |
| 2008 | 178.51 million BoP, current US$ | -21.8% |
| 2009 | 170.29 million BoP, current US$ | -4.6% |
| 2010 | 180.45 million BoP, current US$ | +6.0% |
| 2011 | 231.36 million BoP, current US$ | +28.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 167.10 million BoP, current US$ | 165.83 million BoP, current US$ | 168.38 million BoP, current US$ | 2 |
| 2000s | 157.50 million BoP, current US$ | 109.16 million BoP, current US$ | 228.18 million BoP, current US$ | 10 |
| 2010s | 205.90 million BoP, current US$ | 180.45 million BoP, current US$ | 231.36 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 155 Bermuda 271.84 million BoP, current US$ compare
- 156 Suriname 241.31 million BoP, current US$ compare
- 157 Tonga 241.16 million BoP, current US$ compare
- 159 Timor-Leste 230.69 million BoP, current US$ compare
- 160 Curaçao 226.96 million BoP, current US$
- 161 Guinea-Bissau 213.24 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- Inflation, GDP deflator 2.0% (2024)
- Gdp worldbank constant usd, annual growth rate 0.8437 % change on previous year (2024)
- Gdp worldbank constant usd, per unit of GDP 0.7995 units per US$ of GDP (2024)
- Gdp worldbank constant usd, per capita 59,302 units per person (2024)
- Manufacturing value added to gdp, per unit of GDP 0 units per US$ of GDP (2024)
- Manufacturing value added to gdp, per capita 0.0002 units per person (2024)
- External balance on goods and services as a percent of gdp 3.36 (2024)
- GDP 4.05 billion current US$ (2024)
- Gross value added at basic prices (GVA) 24.64 billion current LCU (2024)
- Gross value added at basic prices (GVA) 3.57 billion current US$ (2024)
Frequently asked questions
- What is secondary income receipts in Faroe Islands?
- Secondary income receipts in Faroe Islands was 231.36 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 receipts recorded in Faroe Islands?
- The highest recorded value was 231.36 million BoP, current US$ in 2011.
- What is the lowest secondary income receipts recorded in Faroe Islands?
- The lowest recorded value was 109.16 million BoP, current US$ in 2002.
- How does Faroe Islands rank for secondary income receipts?
- Faroe Islands ranks 158th out of 198 countries with data for 2011.
- Is secondary income receipts rising or falling in Faroe Islands?
- Over the last ten years it is up 57.5%. 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 Secondary income receipts (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.