Merchandise imports from high-income economies in Faroe Islands
Faroe Islands: Merchandise imports from high-income economies was 84.1% in 2023. ▼ Falling
Merchandise imports from high-income economies in Faroe Islands, 1962–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise imports.
Analysis
Faroe Islands recorded 84.1% for merchandise imports from high-income economies in 2023.
The figure is down 4.2% on the previous year and down 1.6% over ten years.
Over the whole period, merchandise imports from high-income economies in Faroe Islands peaked at 100.0% in 1962 and was at its lowest, 70.6%, in 2015.
Faroe Islands ranks 27th of 206 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 62 years of available data.
Merchandise imports from high-income economies in Faroe Islands, year by year
| Year | % of total merchandise imports | Change |
|---|---|---|
| 1962 | 100.0% | — |
| 1963 | 100.0% | +0.0% |
| 1964 | 100.0% | +0.0% |
| 1965 | 100.0% | +0.0% |
| 1966 | 100.0% | +0.0% |
| 1967 | 100.0% | +0.0% |
| 1968 | 99.7% | -0.3% |
| 1969 | 99.7% | -0.0% |
| 1970 | 99.8% | +0.1% |
| 1971 | 99.8% | -0.0% |
| 1972 | 99.9% | +0.0% |
| 1973 | 99.9% | +0.0% |
| 1974 | 99.8% | -0.1% |
| 1975 | 99.4% | -0.4% |
| 1976 | 99.9% | +0.5% |
| 1977 | 99.9% | -0.0% |
| 1978 | 99.8% | -0.1% |
| 1979 | 99.9% | +0.0% |
| 1980 | 99.9% | +0.1% |
| 1981 | 99.9% | +0.0% |
| 1982 | 100.0% | +0.0% |
| 1983 | 100.0% | +0.0% |
| 1984 | 100.0% | -0.0% |
| 1985 | 99.2% | -0.7% |
| 1986 | 99.2% | -0.0% |
| 1987 | 99.4% | +0.2% |
| 1988 | 99.3% | -0.2% |
| 1989 | 99.3% | +0.0% |
| 1990 | 99.2% | -0.0% |
| 1991 | 99.1% | -0.1% |
| 1992 | 98.8% | -0.4% |
| 1993 | 97.4% | -1.3% |
| 1994 | 96.6% | -0.9% |
| 1995 | 99.9% | +3.4% |
| 1996 | 99.9% | +0.0% |
| 1997 | 99.5% | -0.4% |
| 1998 | 100.0% | +0.5% |
| 1999 | 99.0% | -0.9% |
| 2000 | 92.5% | -6.6% |
| 2001 | 96.5% | +4.3% |
| 2002 | 95.7% | -0.8% |
| 2003 | 96.2% | +0.5% |
| 2004 | 94.7% | -1.6% |
| 2005 | 89.8% | -5.1% |
| 2006 | 92.7% | +3.2% |
| 2007 | 88.2% | -4.9% |
| 2008 | 92.3% | +4.7% |
| 2009 | 91.4% | -1.0% |
| 2010 | 82.6% | -9.7% |
| 2011 | 84.3% | +2.1% |
| 2012 | 86.4% | +2.4% |
| 2013 | 85.5% | -1.0% |
| 2014 | 86.0% | +0.6% |
| 2015 | 70.6% | -17.9% |
| 2016 | 84.6% | +19.8% |
| 2017 | 85.0% | +0.5% |
| 2018 | 86.1% | +1.2% |
| 2019 | 86.6% | +0.7% |
| 2020 | 87.2% | +0.7% |
| 2021 | 88.3% | +1.2% |
| 2022 | 87.8% | -0.5% |
| 2023 | 84.1% | -4.2% |
Faroe Islands compared with similar countries
- Faroe Islands's 84.1% is above the median for high income countries, which is 78.4%, 1.1× the median. (74 countries reporting)
- Faroe Islands's 84.1% is above the median for Europe & Central Asia, which is 78.9%, 1.1× the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 99.9% | 99.7% | 100.0% | 8 |
| 1970s | 99.8% | 99.4% | 99.9% | 10 |
| 1980s | 99.6% | 99.2% | 100.0% | 10 |
| 1990s | 98.9% | 96.6% | 100.0% | 10 |
| 2000s | 93.0% | 88.2% | 96.5% | 10 |
| 2010s | 83.8% | 70.6% | 86.6% | 10 |
| 2020s | 86.9% | 84.1% | 88.3% | 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 from high-income economies in Faroe Islands?
- Merchandise imports from high-income economies in Faroe Islands was 84.1% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports from high-income economies recorded in Faroe Islands?
- The highest recorded value was 100.0% in 1962.
- What is the lowest merchandise imports from high-income economies recorded in Faroe Islands?
- The lowest recorded value was 70.6% in 2015.
- How does Faroe Islands rank for merchandise imports from high-income economies?
- Faroe Islands ranks 27th out of 206 countries with data for 2023.
- Is merchandise imports from high-income economies rising or falling in Faroe Islands?
- Over the last ten years it is down 1.6%. 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 imports from high-income economies (% of total merchandise imports). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 62 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Merchandise imports from high-income economies are the sum of merchandise imports by the reporting economy from high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.