Merchandise exports to high-income economies in Faroe Islands
Faroe Islands: Merchandise exports to high-income economies was 87.8% in 2023. ▼ Falling
Merchandise exports to high-income economies in Faroe Islands, 1962–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise exports.
Analysis
In 2023, merchandise exports to high-income economies in Faroe Islands stood at 87.8%.
The figure is up 0.1% on the previous year and up 5.3% over ten years.
Over the whole period, merchandise exports to high-income economies in Faroe Islands peaked at 100.0% in 1962 and was at its lowest, 77.9%, in 2020.
That places Faroe Islands 33rd out of 206 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently falling across the 62 years of available data.
Merchandise exports to high-income economies in Faroe Islands, year by year
| Year | % of total merchandise exports | Change |
|---|---|---|
| 1962 | 100.0% | — |
| 1963 | 100.0% | +0.0% |
| 1964 | 84.9% | -15.1% |
| 1965 | 91.2% | +7.4% |
| 1966 | 94.9% | +4.1% |
| 1967 | 94.3% | -0.7% |
| 1968 | 94.5% | +0.3% |
| 1969 | 99.0% | +4.7% |
| 1970 | 100.0% | +1.0% |
| 1971 | 100.0% | +0.0% |
| 1972 | 100.0% | +0.0% |
| 1973 | 100.0% | +0.0% |
| 1974 | 100.0% | +0.0% |
| 1975 | 99.2% | -0.8% |
| 1976 | 100.0% | +0.8% |
| 1977 | 99.3% | -0.7% |
| 1978 | 100.0% | +0.7% |
| 1979 | 100.0% | +0.0% |
| 1980 | 98.0% | -2.0% |
| 1981 | 99.8% | +1.9% |
| 1982 | 100.0% | +0.2% |
| 1983 | 100.0% | +0.0% |
| 1984 | 100.0% | +0.0% |
| 1985 | 100.0% | +0.0% |
| 1986 | 100.0% | +0.0% |
| 1987 | 100.0% | +0.0% |
| 1988 | 100.0% | +0.0% |
| 1989 | 100.0% | -0.0% |
| 1990 | 100.0% | +0.0% |
| 1991 | 99.9% | -0.1% |
| 1992 | 93.1% | -6.8% |
| 1993 | 99.8% | +7.2% |
| 1994 | 99.8% | +0.1% |
| 1995 | 99.9% | +0.0% |
| 1996 | 99.9% | +0.1% |
| 1997 | 99.8% | -0.1% |
| 1998 | 99.0% | -0.9% |
| 1999 | 99.3% | +0.4% |
| 2000 | 98.9% | -0.4% |
| 2001 | 98.3% | -0.6% |
| 2002 | 98.5% | +0.2% |
| 2003 | 97.7% | -0.8% |
| 2004 | 97.1% | -0.6% |
| 2005 | 95.0% | -2.1% |
| 2006 | 96.1% | +1.1% |
| 2007 | 93.7% | -2.5% |
| 2008 | 94.7% | +1.0% |
| 2009 | 88.4% | -6.6% |
| 2010 | 86.4% | -2.2% |
| 2011 | 82.1% | -5.1% |
| 2012 | 83.7% | +1.9% |
| 2013 | 83.3% | -0.4% |
| 2014 | 83.0% | -0.4% |
| 2015 | 81.3% | -2.1% |
| 2016 | 84.0% | +3.4% |
| 2017 | 86.1% | +2.5% |
| 2018 | 83.7% | -2.8% |
| 2019 | 83.3% | -0.5% |
| 2020 | 77.9% | -6.5% |
| 2021 | 82.8% | +6.4% |
| 2022 | 87.7% | +5.9% |
| 2023 | 87.8% | +0.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 87.8% is above the median for high income countries, which is 80.7%, 1.1× the median. (74 countries reporting)
- Faroe Islands's 87.8% is above the median for Europe & Central Asia, which is 83.1%, 1.1× the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 94.9% | 84.9% | 100.0% | 8 |
| 1970s | 99.8% | 99.2% | 100.0% | 10 |
| 1980s | 99.8% | 98.0% | 100.0% | 10 |
| 1990s | 99.1% | 93.1% | 100.0% | 10 |
| 2000s | 95.9% | 88.4% | 98.9% | 10 |
| 2010s | 83.7% | 81.3% | 86.4% | 10 |
| 2020s | 84.1% | 77.9% | 87.8% | 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 to high-income economies in Faroe Islands?
- Merchandise exports to high-income economies in Faroe Islands was 87.8% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise exports to high-income economies recorded in Faroe Islands?
- The highest recorded value was 100.0% in 1962.
- What is the lowest merchandise exports to high-income economies recorded in Faroe Islands?
- The lowest recorded value was 77.9% in 2020.
- How does Faroe Islands rank for merchandise exports to high-income economies?
- Faroe Islands ranks 33rd out of 206 countries with data for 2023.
- Is merchandise exports to high-income economies rising or falling in Faroe Islands?
- Over the last ten years it is up 5.3%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise exports to high-income economies (% of total merchandise exports). Statizoid updates them automatically from the source API.
Download this data
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About this data
Merchandise exports to high-income economies are the sum of merchandise exports from the reporting economy to high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.