Net trade in goods in Faroe Islands
Faroe Islands: Net trade in goods was 56.97 million BoP, current US$ in 2011. ◆ Volatile
Net trade in goods in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Faroe Islands recorded 56.97 million BoP, current US$ for net trade in goods in 2011.
The figure is down 37.0% on the previous year and up 52.6% over ten years.
Over the whole period, net trade in goods in Faroe Islands peaked at 90.42 million BoP, current US$ in 2010 and was at its lowest, -225.55 million BoP, current US$, in 2007.
That places Faroe Islands 64th out of 199 countries with data for 2011, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 43.28 million BoP, current US$ | 17.33 million BoP, current US$ | 69.24 million BoP, current US$ | 2 |
| 2000s | -49.30 million BoP, current US$ | -225.55 million BoP, current US$ | 65.77 million BoP, current US$ | 10 |
| 2010s | 73.69 million BoP, current US$ | 56.97 million BoP, current US$ | 90.42 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 61 Burkina Faso 294.53 million BoP, current US$ compare
- 62 San Marino 277.08 million BoP, current US$ compare
- 63 Eswatini 255.12 million BoP, current US$ compare
- 65 Djibouti 41.45 million BoP, current US$ compare
- 66 Central African Republic 15.31 million BoP, current US$ compare
- 67 Mali -11.98 million BoP, current US$ compare
More economy & growth data for Faroe Islands
- Imports of goods and services 51.2% (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 2.07 billion current US$ (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- Trade 105.8% (2024)
- External balance on goods and services 3.4% (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- External balance on goods and services 136.17 million current US$ (2024)
Frequently asked questions
- What is net trade in goods in Faroe Islands?
- Net trade in goods in Faroe Islands was 56.97 million BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net trade in goods recorded in Faroe Islands?
- The highest recorded value was 90.42 million BoP, current US$ in 2010.
- What is the lowest net trade in goods recorded in Faroe Islands?
- The lowest recorded value was -225.55 million BoP, current US$ in 2007.
- How does Faroe Islands rank for net trade in goods?
- Faroe Islands ranks 64th out of 199 countries with data for 2011.
- Is net trade in goods rising or falling in Faroe Islands?
- Over the last ten years it is up 52.6%. The long-run trend across the full record is volatile.
- 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 Net trade in goods (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods is the difference between the exports and imports of goods. 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.