Merchandise exports by the reporting economy in Faroe Islands
Faroe Islands: Merchandise exports by the reporting economy was 2.35 billion current US$ in 2023. ◆ Volatile
Latest (2023)
2.35 billion current US$
Change on year
up 10.8%
World rank
138th
of 206 countries
All-time high
2.35 billion current US$
in 2023
All-time low
700,000 current US$
in 1962
Years of data
62
1962–2023
Merchandise exports by the reporting economy in Faroe Islands, 1962–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
In 2023, merchandise exports by the reporting economy in Faroe Islands stood at 2.35 billion current US$. That is the highest value across all 62 years on record.
That represents a change of up 10.8% on the previous year and up 106.8% over ten years.
Over the whole period, merchandise exports by the reporting economy in Faroe Islands peaked at 2.35 billion current US$ in 2023 and was at its lowest, 700,000 current US$, in 1962.
Faroe Islands ranks 138th of 206 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise exports by the reporting economy in Faroe Islands, year by year
| Year | current US$ | Change |
|---|---|---|
| 1962 | 700,000 current US$ | — |
| 1963 | 1.30 million current US$ | +85.7% |
| 1964 | 18.60 million current US$ | +1330.8% |
| 1965 | 25.00 million current US$ | +34.4% |
| 1966 | 21.70 million current US$ | -13.2% |
| 1967 | 24.50 million current US$ | +12.9% |
| 1968 | 19.45 million current US$ | -20.6% |
| 1969 | 23.65 million current US$ | +21.6% |
| 1970 | 32.48 million current US$ | +37.3% |
| 1971 | 36.95 million current US$ | +13.8% |
| 1972 | 44.48 million current US$ | +20.4% |
| 1973 | 75.80 million current US$ | +70.4% |
| 1974 | 77.23 million current US$ | +1.9% |
| 1975 | 77.92 million current US$ | +0.9% |
| 1976 | 103.03 million current US$ | +32.2% |
| 1977 | 142.51 million current US$ | +38.3% |
| 1978 | 139.20 million current US$ | -2.3% |
| 1979 | 141.31 million current US$ | +1.5% |
| 1980 | 175.41 million current US$ | +24.1% |
| 1981 | 166.44 million current US$ | -5.1% |
| 1982 | 148.42 million current US$ | -10.8% |
| 1983 | 163.76 million current US$ | +10.3% |
| 1984 | 152.71 million current US$ | -6.7% |
| 1985 | 179.49 million current US$ | +17.5% |
| 1986 | 242.40 million current US$ | +35.1% |
| 1987 | 340.66 million current US$ | +40.5% |
| 1988 | 342.62 million current US$ | +0.6% |
| 1989 | 342.35 million current US$ | -0.1% |
| 1990 | 371.36 million current US$ | +8.5% |
| 1991 | 384.33 million current US$ | +3.5% |
| 1992 | 429.77 million current US$ | +11.8% |
| 1993 | 371.55 million current US$ | -13.5% |
| 1994 | 317.49 million current US$ | -14.6% |
| 1995 | 318.93 million current US$ | +0.5% |
| 1996 | 372.58 million current US$ | +16.8% |
| 1997 | 371.38 million current US$ | -0.3% |
| 1998 | 381.65 million current US$ | +2.8% |
| 1999 | 326.32 million current US$ | -14.5% |
| 2000 | 473.28 million current US$ | +45.0% |
| 2001 | 522.16 million current US$ | +10.3% |
| 2002 | 542.03 million current US$ | +3.8% |
| 2003 | 599.20 million current US$ | +10.5% |
| 2004 | 620.53 million current US$ | +3.6% |
| 2005 | 601.91 million current US$ | -3.0% |
| 2006 | 629.20 million current US$ | +4.5% |
| 2007 | 742.77 million current US$ | +18.1% |
| 2008 | 850.99 million current US$ | +14.6% |
| 2009 | 762.18 million current US$ | -10.4% |
| 2010 | 875.64 million current US$ | +14.9% |
| 2011 | 1.01 billion current US$ | +15.0% |
| 2012 | 966.09 million current US$ | -4.1% |
| 2013 | 1.13 billion current US$ | +17.5% |
| 2014 | 1.30 billion current US$ | +14.7% |
| 2015 | 1.25 billion current US$ | -3.9% |
| 2016 | 1.40 billion current US$ | +12.2% |
| 2017 | 1.52 billion current US$ | +8.2% |
| 2018 | 1.49 billion current US$ | -1.9% |
| 2019 | 1.64 billion current US$ | +10.1% |
| 2020 | 1.45 billion current US$ | -11.8% |
| 2021 | 1.58 billion current US$ | +9.1% |
| 2022 | 2.12 billion current US$ | +34.3% |
| 2023 | 2.35 billion current US$ | +10.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 16.86 million current US$ | 700,000 current US$ | 25.00 million current US$ | 8 |
| 1970s | 87.09 million current US$ | 32.48 million current US$ | 142.51 million current US$ | 10 |
| 1980s | 225.42 million current US$ | 148.42 million current US$ | 342.62 million current US$ | 10 |
| 1990s | 364.54 million current US$ | 317.49 million current US$ | 429.77 million current US$ | 10 |
| 2000s | 634.42 million current US$ | 473.28 million current US$ | 850.99 million current US$ | 10 |
| 2010s | 1.26 billion current US$ | 875.64 million current US$ | 1.64 billion current US$ | 10 |
| 2020s | 1.87 billion current US$ | 1.45 billion current US$ | 2.35 billion current US$ | 4 |
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$), annual growth rate 15.96 % change on previous year (2025)
Frequently asked questions
- What is merchandise exports by the reporting economy in Faroe Islands?
- Merchandise exports by the reporting economy in Faroe Islands was 2.35 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise exports by the reporting economy recorded in Faroe Islands?
- The highest recorded value was 2.35 billion current US$ in 2023.
- What is the lowest merchandise exports by the reporting economy recorded in Faroe Islands?
- The lowest recorded value was 700,000 current US$ in 1962.
- How does Faroe Islands rank for merchandise exports by the reporting economy?
- Faroe Islands ranks 138th out of 206 countries with data for 2023.
- Is merchandise exports by the reporting economy rising or falling in Faroe Islands?
- Over the last ten years it is up 106.8%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise exports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
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About this data
Merchandise exports by the reporting economy are the total merchandise exports by the reporting economy to the rest of the world, as reported in the IMF's Direction of trade database. Data are in current US$.