Travel services in Faroe Islands
Faroe Islands: Travel services was 19.9% in 2011. ▼ Falling
Travel 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
The most recent figure for travel services in Faroe Islands is 19.9%, measured in 2011. That is the lowest value across all 14 years on record.
Compared with earlier readings it is down 9.0% on the previous year and down 48.0% over ten years.
Over the whole period, travel services in Faroe Islands peaked at 46.4% in 1998 and was at its lowest, 19.9%, in 2011.
That places Faroe Islands 138th out of 198 countries with data for 2011, putting it in the middle of the range.
The long-run direction has been consistently falling across the 14 years of available data.
Travel services in Faroe Islands, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1998 | 46.4% | — |
| 1999 | 43.2% | -6.9% |
| 2000 | 39.0% | -9.5% |
| 2001 | 38.4% | -1.8% |
| 2002 | 33.5% | -12.5% |
| 2003 | 39.9% | +19.0% |
| 2004 | 42.3% | +6.0% |
| 2005 | 25.8% | -39.1% |
| 2006 | 24.6% | -4.7% |
| 2007 | 28.3% | +15.2% |
| 2008 | 25.1% | -11.2% |
| 2009 | 24.7% | -1.6% |
| 2010 | 21.9% | -11.3% |
| 2011 | 19.9% | -9.0% |
Faroe Islands compared with similar countries
- Faroe Islands's 19.9% is below the median for high income countries, which is 26.8%, 74% of the median. (72 countries reporting)
- Faroe Islands's 19.9% is below the median for Europe & Central Asia, which is 20.5%, 97% of the median. (51 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 44.8% | 43.2% | 46.4% | 2 |
| 2000s | 32.2% | 24.6% | 42.3% | 10 |
| 2010s | 20.9% | 19.9% | 21.9% | 2 |
Countries ranked near Faroe Islands
- 135 Hong Kong, China 20.7% compare
- 136 France 20.5% compare
- 137 Burkina Faso 20.1% compare
- 139 Russian Federation 19.3% compare
- 140 Brazil 19.2% compare
- 141 North Macedonia 19.1% 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 travel services in Faroe Islands?
- Travel services in Faroe Islands was 19.9% in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest travel services recorded in Faroe Islands?
- The highest recorded value was 46.4% in 1998.
- What is the lowest travel services recorded in Faroe Islands?
- The lowest recorded value was 19.9% in 2011.
- How does Faroe Islands rank for travel services?
- Faroe Islands ranks 138th out of 198 countries with data for 2011.
- Is travel services rising or falling in Faroe Islands?
- Over the last ten years it is down 48.0%. The long-run trend across the full record is falling.
- 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 Travel 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
Travel services cover goods and services for own use or to give away acquired from an economy by nonresidents during visits to that economy, or acquired from other economies by residents during visits to these other economies. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.