Transport services in Faroe Islands
Faroe Islands: Transport services was 40.6% in 2011. ▲ Rising
Transport services in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
In 2011, transport services in Faroe Islands stood at 40.6%.
Compared with earlier readings it is down 10.8% on the previous year and up 3.7% over ten years.
Over the whole period, transport services in Faroe Islands peaked at 59.5% in 2008 and was at its lowest, 33.8%, in 1998.
That places Faroe Islands 19th out of 198 countries with data for 2011, putting it in the top 10%.
The long-run direction has been consistently rising across the 14 years of available data.
Transport services in Faroe Islands, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1998 | 33.8% | — |
| 1999 | 34.7% | +2.8% |
| 2000 | 34.2% | -1.5% |
| 2001 | 39.2% | +14.6% |
| 2002 | 36.1% | -7.8% |
| 2003 | 44.3% | +22.6% |
| 2004 | 42.7% | -3.6% |
| 2005 | 35.7% | -16.3% |
| 2006 | 47.6% | +33.3% |
| 2007 | 53.2% | +11.7% |
| 2008 | 59.5% | +11.8% |
| 2009 | 43.9% | -26.2% |
| 2010 | 45.5% | +3.7% |
| 2011 | 40.6% | -10.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 34.2% | 33.8% | 34.7% | 2 |
| 2000s | 43.6% | 34.2% | 59.5% | 10 |
| 2010s | 43.1% | 40.6% | 45.5% | 2 |
Countries ranked near Faroe Islands
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 transport services in Faroe Islands?
- Transport services in Faroe Islands was 40.6% in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest transport services recorded in Faroe Islands?
- The highest recorded value was 59.5% in 2008.
- What is the lowest transport services recorded in Faroe Islands?
- The lowest recorded value was 33.8% in 1998.
- How does Faroe Islands rank for transport services?
- Faroe Islands ranks 19th out of 198 countries with data for 2011.
- Is transport services rising or falling in Faroe Islands?
- Over the last ten years it is up 3.7%. 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 Transport services (% of service exports, BoP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Transport services covers the process of carriage of people and objects from one location to another as well as related supporting and auxiliary services. Also included are postal and courier services. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.