Imports of goods and services in Faroe Islands
Faroe Islands: Imports of goods and services was 2.07 billion current US$ in 2024. ◆ Volatile
Imports of goods and services in Faroe Islands, 1965–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
Faroe Islands recorded 2.07 billion current US$ for imports of goods and services in 2024.
Compared with earlier readings it is down 6.3% on the previous year and up 35.0% over ten years.
Over the whole period, imports of goods and services in Faroe Islands peaked at 2.22 billion current US$ in 2022 and was at its lowest, 26.39 million current US$, in 1965.
That places Faroe Islands 166th out of 192 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 28.18 million current US$ | 26.39 million current US$ | 31.27 million current US$ | 5 |
| 1970s | 107.08 million current US$ | 30.45 million current US$ | 205.84 million current US$ | 10 |
| 1980s | 304.22 million current US$ | 202.39 million current US$ | 478.50 million current US$ | 10 |
| 1990s | 377.22 million current US$ | 219.93 million current US$ | 583.35 million current US$ | 10 |
| 2000s | 981.79 million current US$ | 618.90 million current US$ | 1.43 billion current US$ | 10 |
| 2010s | 1.49 billion current US$ | 1.18 billion current US$ | 1.73 billion current US$ | 10 |
| 2020s | 2.00 billion current US$ | 1.60 billion current US$ | 2.22 billion current US$ | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 14.31 billion current LCU (2024)
- Exports of goods and services 54.6% (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- External balance on goods and services 3.4% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- Exports of goods and services 15.24 billion current LCU (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is imports of goods and services in Faroe Islands?
- Imports of goods and services in Faroe Islands was 2.07 billion current US$ in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest imports of goods and services recorded in Faroe Islands?
- The highest recorded value was 2.22 billion current US$ in 2022.
- What is the lowest imports of goods and services recorded in Faroe Islands?
- The lowest recorded value was 26.39 million current US$ in 1965.
- How does Faroe Islands rank for imports of goods and services?
- Faroe Islands ranks 166th out of 192 countries with data for 2024.
- Is imports of goods and services rising or falling in Faroe Islands?
- Over the last ten years it is up 35.0%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Imports of goods and services (current US$). Statizoid updates them automatically from the source API.
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About this data
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to 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.