Commercial service imports (current US$) in Faroe Islands
Faroe Islands: Commercial service imports was 394.20 million current US$ in 2011. ◆ Volatile
Commercial service imports in Faroe Islands, 1998–2011
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current US$.
Analysis
In 2011, commercial service imports in Faroe Islands stood at 394.20 million current US$. 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 276.5% over ten years.
Over the whole period, commercial service imports in Faroe Islands peaked at 394.20 million current US$ in 2011 and was at its lowest, 90.32 million current US$, in 1998.
That places Faroe Islands 170th out of 200 countries with data for 2011, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Commercial service imports in Faroe Islands, year by year
| Year | current US$ | Change |
|---|---|---|
| 1998 | 90.32 million current US$ | — |
| 1999 | 95.35 million current US$ | +5.6% |
| 2000 | 96.61 million current US$ | +1.3% |
| 2001 | 104.70 million current US$ | +8.4% |
| 2002 | 131.36 million current US$ | +25.5% |
| 2003 | 145.50 million current US$ | +10.8% |
| 2004 | 161.09 million current US$ | +10.7% |
| 2005 | 229.78 million current US$ | +42.6% |
| 2006 | 274.10 million current US$ | +19.3% |
| 2007 | 359.21 million current US$ | +31.1% |
| 2008 | 381.87 million current US$ | +6.3% |
| 2009 | 342.65 million current US$ | -10.3% |
| 2010 | 366.12 million current US$ | +6.9% |
| 2011 | 394.20 million current US$ | +7.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 394.20 million current US$ is below the median for high income countries, which is 18.83 billion current US$, 2% of the median. (72 countries reporting)
- Faroe Islands's 394.20 million current US$ is below the median for Europe & Central Asia, which is 17.38 billion current US$, 2% of the median. (51 countries reporting)
Biggest year-on-year movements
Years where Commercial service imports in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +42.6% | 161.09 million current US$ | 229.78 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 92.83 million current US$ | 90.32 million current US$ | 95.35 million current US$ | 2 |
| 2000s | 222.69 million current US$ | 96.61 million current US$ | 381.87 million current US$ | 10 |
| 2010s | 380.16 million current US$ | 366.12 million current US$ | 394.20 million current US$ | 2 |
Countries ranked near Faroe Islands
More private sector data for Faroe Islands
- Merchandise trade 80.8% (2024)
- Food imports 17.1% (2009)
- Manufactures imports 62.3% (2009)
- Merchandise imports 1.67 billion current US$ (2025)
- Food exports 88.0% (2009)
- Manufactures exports 7.4% (2009)
- Merchandise exports 2.06 billion current US$ (2025)
- Merchandise exports (current US$), per capita 37,577 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.4389 current US$ per US$ of GDP (2024)
- Merchandise exports (current US$), annual growth rate 15.96 % change on previous year (2025)
Frequently asked questions
- What is commercial service imports in Faroe Islands?
- Commercial service imports in Faroe Islands was 394.20 million current US$ in 2011, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest commercial service imports recorded in Faroe Islands?
- The highest recorded value was 394.20 million current US$ in 2011.
- What is the lowest commercial service imports recorded in Faroe Islands?
- The lowest recorded value was 90.32 million current US$ in 1998.
- How does Faroe Islands rank for commercial service imports?
- Faroe Islands ranks 170th out of 200 countries with data for 2011.
- Is commercial service imports rising or falling in Faroe Islands?
- Over the last ten years it is up 276.5%. 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 Commercial service imports (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
Commercial service imports are total service imports minus imports of government services not included elsewhere. 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.