Personal remittances, received in Faroe Islands
Faroe Islands: Personal remittances, received was 158.41 million current US$ in 2011. ◆ Volatile
Personal remittances, received in Faroe Islands, 1998–2011
Source: IMF balance of payments data, International Monetary Fund (IMF). Measured in current US$.
Analysis
The most recent figure for personal remittances, received in Faroe Islands is 158.41 million current US$, measured in 2011. That is the highest value across all 14 years on record.
The figure is up 8.2% on the previous year and up 305.8% over ten years.
Over the whole period, personal remittances, received in Faroe Islands peaked at 158.41 million current US$ in 2011 and was at its lowest, 39.04 million current US$, in 2001.
Faroe Islands ranks 150th of 196 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 49.26 million current US$ | 48.48 million current US$ | 50.04 million current US$ | 2 |
| 2000s | 76.92 million current US$ | 39.04 million current US$ | 138.74 million current US$ | 10 |
| 2010s | 152.40 million current US$ | 146.39 million current US$ | 158.41 million current US$ | 2 |
Countries ranked near Faroe Islands
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, received in Faroe Islands?
- Personal remittances, received in Faroe Islands was 158.41 million current US$ in 2011, according to IMF balance of payments data, International Monetary Fund (IMF).
- What is the highest personal remittances, received recorded in Faroe Islands?
- The highest recorded value was 158.41 million current US$ in 2011.
- What is the lowest personal remittances, received recorded in Faroe Islands?
- The lowest recorded value was 39.04 million current US$ in 2001.
- How does Faroe Islands rank for personal remittances, received?
- Faroe Islands ranks 150th out of 196 countries with data for 2011.
- Is personal remittances, received rising or falling in Faroe Islands?
- Over the last ten years it is up 305.8%. 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, received (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.