Service exports in Faroe Islands
Faroe Islands: Service exports was 206.81 million BoP, current US$ in 2011. ◆ Volatile
Service exports in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for service exports in Faroe Islands is 206.81 million BoP, current US$, measured in 2011.
The figure is up 8.5% on the previous year and up 263.8% over ten years.
Over the whole period, service exports in Faroe Islands peaked at 251.88 million BoP, current US$ in 2008 and was at its lowest, 51.02 million BoP, current US$, in 1998.
That places Faroe Islands 173rd out of 200 countries with data for 2011, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Service exports in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 51.02 million BoP, current US$ | — |
| 1999 | 55.55 million BoP, current US$ | +8.9% |
| 2000 | 53.97 million BoP, current US$ | -2.8% |
| 2001 | 56.84 million BoP, current US$ | +5.3% |
| 2002 | 71.28 million BoP, current US$ | +25.4% |
| 2003 | 77.53 million BoP, current US$ | +8.8% |
| 2004 | 86.30 million BoP, current US$ | +11.3% |
| 2005 | 132.51 million BoP, current US$ | +53.5% |
| 2006 | 174.52 million BoP, current US$ | +31.7% |
| 2007 | 214.44 million BoP, current US$ | +22.9% |
| 2008 | 251.88 million BoP, current US$ | +17.5% |
| 2009 | 169.97 million BoP, current US$ | -32.5% |
| 2010 | 190.68 million BoP, current US$ | +12.2% |
| 2011 | 206.81 million BoP, current US$ | +8.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 206.81 million BoP, current US$ is below the median for high income countries, which is 24.56 billion BoP, current US$, 1% of the median. (72 countries reporting)
- Faroe Islands's 206.81 million BoP, current US$ is below the median for Europe & Central Asia, which is 24.77 billion BoP, current US$, 1% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 53.28 million BoP, current US$ | 51.02 million BoP, current US$ | 55.55 million BoP, current US$ | 2 |
| 2000s | 128.92 million BoP, current US$ | 53.97 million BoP, current US$ | 251.88 million BoP, current US$ | 10 |
| 2010s | 198.74 million BoP, current US$ | 190.68 million BoP, current US$ | 206.81 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 170 Eswatini 233.66 million BoP, current US$ compare
- 171 Mauritania 229.55 million BoP, current US$ compare
- 172 Suriname 218.43 million BoP, current US$ compare
- 174 Dominica 180.57 million BoP, current US$ compare
- 175 Tajikistan 168.19 million BoP, current US$ compare
- 176 Burundi 148.12 million BoP, current US$ 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 service exports in Faroe Islands?
- Service exports in Faroe Islands was 206.81 million BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest service exports recorded in Faroe Islands?
- The highest recorded value was 251.88 million BoP, current US$ in 2008.
- What is the lowest service exports recorded in Faroe Islands?
- The lowest recorded value was 51.02 million BoP, current US$ in 1998.
- How does Faroe Islands rank for service exports?
- Faroe Islands ranks 173rd out of 200 countries with data for 2011.
- Is service exports rising or falling in Faroe Islands?
- Over the last ten years it is up 263.8%. 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 Service exports (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Exports of services are services provided by residents to non-residents. 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.