Personal remittances, paid in Faroe Islands
Faroe Islands: Personal remittances, paid was 34.40 million current US$ in 2011. ◆ Volatile
Personal remittances, paid in Faroe Islands, 1998–2011
Source: IMF balance of payments data, International Monetary Fund (IMF). Measured in current US$.
Analysis
In 2011, personal remittances, paid in Faroe Islands stood at 34.40 million current US$.
The figure is up 10.9% on the previous year and up 156.6% over ten years.
Over the whole period, personal remittances, paid in Faroe Islands peaked at 41.02 million current US$ in 2008 and was at its lowest, 5.11 million current US$, in 2003.
That places Faroe Islands 166th out of 195 countries with data for 2011, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.54 million current US$ | 6.15 million current US$ | 6.92 million current US$ | 2 |
| 2000s | 18.67 million current US$ | 5.11 million current US$ | 41.02 million current US$ | 10 |
| 2010s | 32.72 million current US$ | 31.03 million current US$ | 34.40 million current US$ | 2 |
Countries ranked near Faroe Islands
- 163 Zimbabwe 43.76 million current US$ compare
- 164 Cape Verde 36.60 million current US$ compare
- 165 Antigua and Barbuda 36.34 million current US$ compare
- 167 Guatemala 34.24 million current US$ compare
- 168 North Macedonia 28.46 million current US$ compare
- 169 Tonga 27.76 million current US$ compare
More economy & growth data for Faroe Islands
- Imports of goods and services 14.31 billion current LCU (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)
- Imports of goods and services 2.07 billion current US$ (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 54.6% (2024)
- Imports of goods and services 51.2% (2024)
Frequently asked questions
- What is personal remittances, paid in Faroe Islands?
- Personal remittances, paid in Faroe Islands was 34.40 million current US$ in 2011, according to IMF balance of payments data, International Monetary Fund (IMF).
- What is the highest personal remittances, paid recorded in Faroe Islands?
- The highest recorded value was 41.02 million current US$ in 2008.
- What is the lowest personal remittances, paid recorded in Faroe Islands?
- The lowest recorded value was 5.11 million current US$ in 2003.
- How does Faroe Islands rank for personal remittances, paid?
- Faroe Islands ranks 166th out of 195 countries with data for 2011.
- Is personal remittances, paid rising or falling in Faroe Islands?
- Over the last ten years it is up 156.6%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from IMF balance of payments data, International Monetary Fund (IMF), published as part of Personal remittances, paid (current US$). 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
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.