Merchandise imports by the reporting economy, residual in Faroe Islands
Faroe Islands: Merchandise imports by the reporting economy, residual was 0.0% in 2023. ◆ Volatile
Merchandise imports by the reporting economy, residual in Faroe Islands, 1962–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise imports.
Analysis
Faroe Islands recorded 0.0% for merchandise imports by the reporting economy, residual in 2023.
Compared with earlier readings it is down 1.1% on the previous year and down 2.5% over ten years.
Over the whole period, merchandise imports by the reporting economy, residual in Faroe Islands peaked at 0.3% in 2006 and was at its lowest, -0.0%, in 1999.
Faroe Islands ranks 104th 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 imports by the reporting economy, residual in Faroe Islands, year by year
| Year | % of total merchandise imports | Change |
|---|---|---|
| 1962 | 0.0% | — |
| 1963 | 0.0% | — |
| 1964 | 0.0% | — |
| 1965 | 0.0% | — |
| 1966 | 0.0% | — |
| 1967 | 0.0% | — |
| 1968 | 0.0% | — |
| 1969 | 0.0% | — |
| 1970 | 0.0% | — |
| 1971 | 0.0% | — |
| 1972 | 0.0% | -100.0% |
| 1973 | 0.0% | — |
| 1974 | 0.0% | -100.0% |
| 1975 | 0.0% | — |
| 1976 | -0.0% | — |
| 1977 | 0.0% | -100.0% |
| 1978 | 0.0% | — |
| 1979 | 0.0% | — |
| 1980 | 0.0% | — |
| 1981 | 0.0% | — |
| 1982 | 0.0% | — |
| 1983 | 0.0% | — |
| 1984 | 0.0% | — |
| 1985 | 0.0% | — |
| 1986 | 0.0% | — |
| 1987 | -0.0% | — |
| 1988 | 0.0% | -188.2% |
| 1989 | 0.0% | -100.0% |
| 1990 | 0.0% | — |
| 1991 | 0.0% | — |
| 1992 | -0.0% | — |
| 1993 | 0.0% | -100.0% |
| 1994 | 0.0% | — |
| 1995 | 0.0% | -100.0% |
| 1996 | 0.0% | +36.5% |
| 1997 | -0.0% | -124.4% |
| 1998 | 0.0% | -187.6% |
| 1999 | -0.0% | -555.4% |
| 2000 | 0.0% | -51799866586.4% |
| 2001 | 0.0% | -24.5% |
| 2002 | 0.0% | +264.0% |
| 2003 | 0.0% | -46.1% |
| 2004 | 0.0% | -64.9% |
| 2005 | 0.1% | +495610.5% |
| 2006 | 0.3% | +148.2% |
| 2007 | 0.0% | -99.9% |
| 2008 | 0.0% | -70.7% |
| 2009 | 0.0% | +467.3% |
| 2010 | 0.0% | -15.5% |
| 2011 | 0.0% | +9.5% |
| 2012 | 0.0% | +5.8% |
| 2013 | 0.0% | +0.3% |
| 2014 | 0.0% | -1.2% |
| 2015 | 0.0% | -7.6% |
| 2016 | 0.0% | +4.6% |
| 2017 | 0.0% | +6.3% |
| 2018 | 0.0% | +3.1% |
| 2019 | 0.0% | +1.7% |
| 2020 | 0.0% | -1.7% |
| 2021 | 0.0% | +4.0% |
| 2022 | 0.0% | -9.2% |
| 2023 | 0.0% | -1.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 0.0% is below the median for high income countries, which is 0.0%, 35% of the median. (74 countries reporting)
- Faroe Islands's 0.0% is below the median for Europe & Central Asia, which is 0.0%, 50% of the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise imports by the reporting economy, residual 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 |
|---|---|---|---|
| 2000 | +51799866586.4% | -0.0% | 0.0% |
| 2005 | +495610.5% | 0.0% | 0.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 0.0% | 0.0% | 0.0% | 8 |
| 1970s | 0.0% | -0.0% | 0.0% | 10 |
| 1980s | -0.0% | -0.0% | 0.0% | 10 |
| 1990s | 0.0% | -0.0% | 0.0% | 10 |
| 2000s | 0.0% | 0.0% | 0.3% | 10 |
| 2010s | 0.0% | 0.0% | 0.0% | 10 |
| 2020s | 0.0% | 0.0% | 0.0% | 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 imports by the reporting economy, residual in Faroe Islands?
- Merchandise imports by the reporting economy, residual in Faroe Islands was 0.0% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports by the reporting economy, residual recorded in Faroe Islands?
- The highest recorded value was 0.3% in 2006.
- What is the lowest merchandise imports by the reporting economy, residual recorded in Faroe Islands?
- The lowest recorded value was -0.0% in 1999.
- How does Faroe Islands rank for merchandise imports by the reporting economy, residual?
- Faroe Islands ranks 104th out of 206 countries with data for 2023.
- Is merchandise imports by the reporting economy, residual rising or falling in Faroe Islands?
- Over the last ten years it is down 2.5%. 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, residual (% of total merchandise imports). Statizoid updates them automatically from the source API.
Download this data
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About this data
Merchandise imports by the reporting economy residuals 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, less the sum of imports by the reporting economy from high-, low-, and middle-income economies according to the World Bank classification of economies. Includes trade with unspecified partners or with economies not covered by World Bank classification. Data are as a percentage of total merchandise imports by the economy.