Merchandise exports to low- and middle-income economies outside region in Faroe Islands
Faroe Islands: Merchandise exports to low- and middle-income economies outside region was 11.6% in 2023. ◆ Volatile
Merchandise exports to low- and middle-income economies outside region in Faroe Islands, 1964–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise exports.
Analysis
Faroe Islands recorded 11.6% for merchandise exports to low- and middle-income economies outside region in 2023.
That represents a change of up 5.7% on the previous year and down 26.6% over ten years.
Over the whole period, merchandise exports to low- and middle-income economies outside region in Faroe Islands peaked at 21.0% in 2020 and was at its lowest, 0.0%, in 1990.
That places Faroe Islands 100th out of 206 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise exports to low- and middle-income economies outside region in Faroe Islands, year by year
| Year | % of total merchandise exports | Change |
|---|---|---|
| 1964 | 15.1% | — |
| 1965 | 8.8% | -41.5% |
| 1966 | 5.1% | -42.4% |
| 1967 | 5.7% | +12.7% |
| 1968 | 5.5% | -4.5% |
| 1969 | 1.0% | -81.6% |
| 1970 | 0.0% | -98.8% |
| 1975 | 0.8% | +6684.6% |
| 1977 | 0.7% | -16.8% |
| 1980 | 2.0% | +189.6% |
| 1981 | 0.2% | -91.3% |
| 1982 | 0.0% | -94.6% |
| 1989 | 0.0% | +27.5% |
| 1990 | 0.0% | -88.5% |
| 1991 | 0.1% | +8567.0% |
| 1992 | 0.2% | +99.8% |
| 1993 | 0.2% | +0.2% |
| 1994 | 0.2% | -24.4% |
| 1995 | 0.1% | -26.6% |
| 1996 | 0.1% | -55.8% |
| 1997 | 0.1% | +115.5% |
| 1998 | 1.0% | +696.3% |
| 1999 | 0.6% | -42.4% |
| 2000 | 1.0% | +67.4% |
| 2001 | 1.6% | +68.5% |
| 2002 | 1.4% | -12.1% |
| 2003 | 2.2% | +52.9% |
| 2004 | 2.6% | +18.9% |
| 2005 | 3.7% | +41.5% |
| 2006 | 3.3% | -9.9% |
| 2007 | 6.0% | +79.9% |
| 2008 | 4.5% | -25.1% |
| 2009 | 10.4% | +131.9% |
| 2010 | 13.0% | +25.0% |
| 2011 | 17.3% | +32.9% |
| 2012 | 15.6% | -10.0% |
| 2013 | 15.9% | +1.8% |
| 2014 | 16.1% | +1.7% |
| 2015 | 18.1% | +12.4% |
| 2016 | 15.6% | -13.8% |
| 2017 | 13.4% | -14.0% |
| 2018 | 15.7% | +16.7% |
| 2019 | 15.9% | +1.4% |
| 2020 | 21.0% | +32.1% |
| 2021 | 15.8% | -24.6% |
| 2022 | 11.0% | -30.5% |
| 2023 | 11.6% | +5.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 11.6% is above the median for high income countries, which is 9.2%, 1.3× the median. (74 countries reporting)
- Faroe Islands's 11.6% is above the median for Europe & Central Asia, which is 9.2%, 1.3× the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise exports to low- and middle-income economies outside region 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 |
|---|---|---|---|
| 1991 | +8567.0% | 0.0% | 0.1% |
| 1975 | +6684.6% | 0.0% | 0.8% |
| 1998 | +696.3% | 0.1% | 1.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 6.8% | 1.0% | 15.1% | 6 |
| 1970s | 0.5% | 0.0% | 0.8% | 3 |
| 1980s | 0.6% | 0.0% | 2.0% | 4 |
| 1990s | 0.3% | 0.0% | 1.0% | 10 |
| 2000s | 3.7% | 1.0% | 10.4% | 10 |
| 2010s | 15.7% | 13.0% | 18.1% | 10 |
| 2020s | 14.9% | 11.0% | 21.0% | 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 low- and middle-income economies outside region in Faroe Islands?
- Merchandise exports to low- and middle-income economies outside region in Faroe Islands was 11.6% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise exports to low- and middle-income economies outside region recorded in Faroe Islands?
- The highest recorded value was 21.0% in 2020.
- What is the lowest merchandise exports to low- and middle-income economies outside region recorded in Faroe Islands?
- The lowest recorded value was 0.0% in 1990.
- How does Faroe Islands rank for merchandise exports to low- and middle-income economies outside region?
- Faroe Islands ranks 100th out of 206 countries with data for 2023.
- Is merchandise exports to low- and middle-income economies outside region rising or falling in Faroe Islands?
- Over the last ten years it is down 26.6%. 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 to low- and middle-income economies outside region (% 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 low- and middle-income economies outside region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in other World Bank regions 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.