Merchandise imports by the reporting economy in Faroe Islands
Faroe Islands: Merchandise imports by the reporting economy was 1.93 billion current US$ in 2023. ◆ Volatile
Merchandise imports by the reporting economy in Faroe Islands, 1962–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
The most recent figure for merchandise imports by the reporting economy in Faroe Islands is 1.93 billion current US$, measured in 2023.
That represents a change of down 1.4% on the previous year and up 56.2% over ten years.
Over the whole period, merchandise imports by the reporting economy in Faroe Islands peaked at 1.96 billion current US$ in 2022 and was at its lowest, 100,000 current US$, in 1962.
Faroe Islands ranks 165th of 204 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 22.76 million current US$ | 100,000 current US$ | 30.96 million current US$ | 8 |
| 1970s | 106.55 million current US$ | 30.36 million current US$ | 204.49 million current US$ | 10 |
| 1980s | 300.89 million current US$ | 196.49 million current US$ | 504.43 million current US$ | 10 |
| 1990s | 307.43 million current US$ | 232.16 million current US$ | 411.88 million current US$ | 10 |
| 2000s | 719.58 million current US$ | 488.26 million current US$ | 1.01 billion current US$ | 10 |
| 2010s | 1.22 billion current US$ | 1.01 billion current US$ | 1.38 billion current US$ | 10 |
| 2020s | 1.70 billion current US$ | 1.39 billion current US$ | 1.96 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)
- Commercial service exports 206.81 million current US$ (2011)
- Transport services 23.8% (2011)
- Computer, communications and other services 50.9% (2011)
Frequently asked questions
- What is merchandise imports by the reporting economy in Faroe Islands?
- Merchandise imports by the reporting economy in Faroe Islands was 1.93 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports by the reporting economy recorded in Faroe Islands?
- The highest recorded value was 1.96 billion current US$ in 2022.
- What is the lowest merchandise imports by the reporting economy recorded in Faroe Islands?
- The lowest recorded value was 100,000 current US$ in 1962.
- How does Faroe Islands rank for merchandise imports by the reporting economy?
- Faroe Islands ranks 165th out of 204 countries with data for 2023.
- Is merchandise imports by the reporting economy rising or falling in Faroe Islands?
- Over the last ten years it is up 56.2%. 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 imports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
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About this data
Merchandise imports by the reporting economy are the total merchandise imports by the reporting economy from the rest of the world, as reported in the IMF's Direction of trade database. Data are in current U.S. dollars.