Service imports (BoP, current US$), per unit of GDP in Faroe Islands
Faroe Islands: Service imports (BoP, current US$), per unit of GDP was 0.1573 BoP, current US$ per US$ of GDP in 2011. ▲ Rising
Service imports (BoP, current US$), per unit of GDP in Faroe Islands, 1998–2011
Source: Statizoid (derived). Measured in BoP, current US$ per US$ of GDP.
Analysis
In 2011, service imports (bop, current us$), per unit of gdp in Faroe Islands stood at 0.1573 BoP, current US$ per US$ of GDP. That is the highest value across all 14 years on record.
The figure is up 0.2% on the previous year and up 73.4% over ten years.
Over the whole period, service imports (bop, current us$), per unit of gdp in Faroe Islands peaked at 0.1573 BoP, current US$ per US$ of GDP in 2011 and was at its lowest, 0.0821 BoP, current US$ per US$ of GDP, in 1998.
Faroe Islands ranks 54th of 199 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Service imports (BoP, current US$), per unit of GDP in Faroe Islands, year by year
| Year | BoP, current US$ per US$ of GDP | Change |
|---|---|---|
| 1998 | 0.0821 BoP, current US$ per US$ of GDP | — |
| 1999 | 0.084 BoP, current US$ per US$ of GDP | +2.4% |
| 2000 | 0.0911 BoP, current US$ per US$ of GDP | +8.3% |
| 2001 | 0.0907 BoP, current US$ per US$ of GDP | -0.4% |
| 2002 | 0.1036 BoP, current US$ per US$ of GDP | +14.2% |
| 2003 | 0.0978 BoP, current US$ per US$ of GDP | -5.6% |
| 2004 | 0.0934 BoP, current US$ per US$ of GDP | -4.5% |
| 2005 | 0.1306 BoP, current US$ per US$ of GDP | +39.8% |
| 2006 | 0.1358 BoP, current US$ per US$ of GDP | +4.0% |
| 2007 | 0.1536 BoP, current US$ per US$ of GDP | +13.0% |
| 2008 | 0.1534 BoP, current US$ per US$ of GDP | -0.1% |
| 2009 | 0.1492 BoP, current US$ per US$ of GDP | -2.7% |
| 2010 | 0.157 BoP, current US$ per US$ of GDP | +5.2% |
| 2011 | 0.1573 BoP, current US$ per US$ of GDP | +0.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.1573 BoP, current US$ per US$ of GDP is above the median for high income countries, which is 0.1373 BoP, current US$ per US$ of GDP, 1.1× the median. (72 countries reporting)
- Faroe Islands's 0.1573 BoP, current US$ per US$ of GDP is above the median for Europe & Central Asia, which is 0.1342 BoP, current US$ per US$ of GDP, 1.2× the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0831 BoP, current US$ per US$ of GDP | 0.0821 BoP, current US$ per US$ of GDP | 0.084 BoP, current US$ per US$ of GDP | 2 |
| 2000s | 0.1199 BoP, current US$ per US$ of GDP | 0.0907 BoP, current US$ per US$ of GDP | 0.1536 BoP, current US$ per US$ of GDP | 10 |
| 2010s | 0.1572 BoP, current US$ per US$ of GDP | 0.157 BoP, current US$ per US$ of GDP | 0.1573 BoP, current US$ per US$ of GDP | 2 |
Countries ranked near Faroe Islands
- 51 Chad 0.169 BoP, current US$ per US$ of GDP
- 52 Fiji 0.1669 BoP, current US$ per US$ of GDP compare
- 53 Armenia 0.1591 BoP, current US$ per US$ of GDP compare
- 55 Jamaica 0.1571 BoP, current US$ per US$ of GDP compare
- 56 Solomon Islands 0.1568 BoP, current US$ per US$ of GDP compare
- 57 Bahamas 0.1562 BoP, 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 service imports (bop, current us$), per unit of gdp in Faroe Islands?
- Service imports (bop, current us$), per unit of gdp in Faroe Islands was 0.1573 BoP, current US$ per US$ of GDP in 2011, according to Statizoid (derived).
- What is the highest service imports (bop, current us$), per unit of gdp recorded in Faroe Islands?
- The highest recorded value was 0.1573 BoP, current US$ per US$ of GDP in 2011.
- What is the lowest service imports (bop, current us$), per unit of gdp recorded in Faroe Islands?
- The lowest recorded value was 0.0821 BoP, current US$ per US$ of GDP in 1998.
- How does Faroe Islands rank for service imports (bop, current us$), per unit of gdp?
- Faroe Islands ranks 54th out of 199 countries with data for 2011.
- Is service imports (bop, current us$), per unit of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 73.4%. 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 Service imports (BoP, current US$), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Service imports (BoP, current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Service imports (BoP, current US$) ÷ GDP (current US$)
Computed from
- Service imports Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Service imports (BoP, current US$) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.