Share of service in total exports in Faroe Islands
Faroe Islands: Share of service in total exports was 1.01 billion BoP, current US$ in 2011. ▲ Rising
Share of service in total exports in Faroe Islands, 1998–2011
Source: International Monetary Fund (IMF), via World Bank (2026) – processed by Our World in Data. Measured in BoP, current US$.
Analysis
The most recent figure for share of service in total exports in Faroe Islands is 1.01 billion BoP, current US$, measured in 2011. That is the highest value across all 14 years on record.
Compared with earlier readings it is up 20.5% on the previous year and up 94.9% over ten years.
Over the whole period, share of service in total exports in Faroe Islands peaked at 1.01 billion BoP, current US$ in 2011 and was at its lowest, 442.17 million BoP, current US$, in 1998.
Faroe Islands ranks 152nd of 198 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 14 years of available data.
Share of service in total exports in Faroe Islands, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1998 | 442.17 million BoP, current US$ | — |
| 1999 | 472.10 million BoP, current US$ | +6.8% |
| 2000 | 476.78 million BoP, current US$ | +1.0% |
| 2001 | 516.16 million BoP, current US$ | +8.3% |
| 2002 | 537.35 million BoP, current US$ | +4.1% |
| 2003 | 593.74 million BoP, current US$ | +10.5% |
| 2004 | 618.71 million BoP, current US$ | +4.2% |
| 2005 | 603.27 million BoP, current US$ | -2.5% |
| 2006 | 650.55 million BoP, current US$ | +7.8% |
| 2007 | 745.18 million BoP, current US$ | +14.5% |
| 2008 | 852.40 million BoP, current US$ | +14.4% |
| 2009 | 765.69 million BoP, current US$ | -10.2% |
| 2010 | 835.11 million BoP, current US$ | +9.1% |
| 2011 | 1.01 billion BoP, current US$ | +20.5% |
Faroe Islands compared with similar countries
- Faroe Islands's 1.01 billion BoP, current US$ is below the median for high income countries, which is 47.85 billion BoP, current US$, 2% of the median. (72 countries reporting)
- Faroe Islands's 1.01 billion BoP, current US$ is below the median for Europe & Central Asia, which is 47.85 billion BoP, current US$, 2% of the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 457.13 million BoP, current US$ | 442.17 million BoP, current US$ | 472.10 million BoP, current US$ | 2 |
| 2000s | 635.98 million BoP, current US$ | 476.78 million BoP, current US$ | 852.40 million BoP, current US$ | 10 |
| 2010s | 920.55 million BoP, current US$ | 835.11 million BoP, current US$ | 1.01 billion BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 149 Togo 1.21 billion BoP, current US$ compare
- 150 Fiji 1.13 billion BoP, current US$ compare
- 151 Malawi 1.02 billion BoP, current US$ compare
- 153 Lesotho 932.65 million BoP, current US$ compare
- 154 Bahamas 873.79 million BoP, current US$ compare
- 155 Afghanistan 776.74 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- Households and NPISHs Final consumption expenditure (current US$) 2.82 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 142,484 current LCU per person (2024)
- Gross capital formation (current LCU), annual growth rate -7.66 % change on previous year (2024)
- Gross capital formation (current US$), per capita 20,895 current US$ per person (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Households and NPISHs Final consumption expenditure (current US$) 0.4061 current US$ per US$ of GDP (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Gross capital formation (current LCU), per unit of GDP 1.94 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
Frequently asked questions
- What is share of service in total exports in Faroe Islands?
- Share of service in total exports in Faroe Islands was 1.01 billion BoP, current US$ in 2011, according to International Monetary Fund (IMF), via World Bank (2026) – processed by Our World in Data.
- What is the highest share of service in total exports recorded in Faroe Islands?
- The highest recorded value was 1.01 billion BoP, current US$ in 2011.
- What is the lowest share of service in total exports recorded in Faroe Islands?
- The lowest recorded value was 442.17 million BoP, current US$ in 1998.
- How does Faroe Islands rank for share of service in total exports?
- Faroe Islands ranks 152nd out of 198 countries with data for 2011.
- Is share of service in total exports rising or falling in Faroe Islands?
- Over the last ten years it is up 94.9%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from International Monetary Fund (IMF), via World Bank (2026) – processed by Our World in Data, published as part of Share of service in total exports. Statizoid updates them automatically from the source API.
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About this data
Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. The share of services in total exports comes from comparing trade in goods and services at current US dollars.