Service imports in Faroe Islands
Faroe Islands: Service imports was 394.20 million BoP, current US$ in 2011. ◆ Volatile
Service imports in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Faroe Islands recorded 394.20 million BoP, current US$ for service imports in 2011. That is the highest value across all 14 years on record.
Compared with earlier readings it is up 7.7% on the previous year and up 274.5% over ten years.
Over the whole period, service imports in Faroe Islands peaked at 394.20 million BoP, current US$ in 2011 and was at its lowest, 90.70 million BoP, current US$, in 1998.
Faroe Islands ranks 171st of 199 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 92.74 million BoP, current US$ | 90.70 million BoP, current US$ | 94.78 million BoP, current US$ | 2 |
| 2000s | 223.01 million BoP, current US$ | 97.17 million BoP, current US$ | 381.87 million BoP, current US$ | 10 |
| 2010s | 380.16 million BoP, current US$ | 366.12 million BoP, current US$ | 394.20 million BoP, current US$ | 2 |
Countries ranked near Faroe Islands
- 168 Togo 437.85 million BoP, current US$ compare
- 169 Burundi 406.28 million BoP, current US$ compare
- 170 Grenada 397.49 million BoP, current US$ compare
- 172 French Polynesia 384.04 million BoP, current US$ compare
- 173 Belize 351.61 million BoP, current US$ compare
- 174 Cape Verde 349.66 million BoP, 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 service imports in Faroe Islands?
- Service imports in Faroe Islands was 394.20 million BoP, current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest service imports recorded in Faroe Islands?
- The highest recorded value was 394.20 million BoP, current US$ in 2011.
- What is the lowest service imports recorded in Faroe Islands?
- The lowest recorded value was 90.70 million BoP, current US$ in 1998.
- How does Faroe Islands rank for service imports?
- Faroe Islands ranks 171st out of 199 countries with data for 2011.
- Is service imports rising or falling in Faroe Islands?
- Over the last ten years it is up 274.5%. 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 Service imports (BoP, 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
Imports of services are 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.