Merchandise trade in Faroe Islands
Faroe Islands: Merchandise trade was 80.8% in 2024. ▬ Flat
Merchandise trade in Faroe Islands, 1965–2024
Source: World Trade Organization (WTO). Measured in % of GDP.
Analysis
Faroe Islands recorded 80.8% for merchandise trade in 2024.
The figure is down 10.2% on the previous year and up 8.9% over ten years.
Over the whole period, merchandise trade in Faroe Islands peaked at 98.8% in 1984 and was at its lowest, 67.3%, in 2009.
That places Faroe Islands 49th out of 204 countries with data for 2024, putting it in the top quarter.
Merchandise trade in Faroe Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1965 | 89.7% | — |
| 1966 | 77.6% | -13.5% |
| 1967 | 80.0% | +3.1% |
| 1968 | 75.2% | -6.1% |
| 1969 | 81.3% | +8.2% |
| 1970 | 75.4% | -7.3% |
| 1971 | 79.6% | +5.7% |
| 1972 | 77.9% | -2.1% |
| 1973 | 91.2% | +17.0% |
| 1974 | 91.5% | +0.3% |
| 1975 | 85.3% | -6.7% |
| 1976 | 87.3% | +2.3% |
| 1977 | 85.1% | -2.5% |
| 1978 | 81.9% | -3.7% |
| 1979 | 77.6% | -5.3% |
| 1980 | 81.3% | +4.8% |
| 1981 | 83.9% | +3.2% |
| 1982 | 77.0% | -8.3% |
| 1983 | 83.8% | +8.9% |
| 1984 | 98.8% | +17.9% |
| 1985 | 93.0% | -5.9% |
| 1986 | 84.9% | -8.7% |
| 1987 | 96.8% | +14.0% |
| 1988 | 85.3% | -11.9% |
| 1989 | 79.4% | -6.9% |
| 1990 | 78.7% | -0.9% |
| 1991 | 81.2% | +3.2% |
| 1992 | 84.7% | +4.4% |
| 1993 | 71.8% | -15.3% |
| 1994 | 74.9% | +4.3% |
| 1995 | 75.1% | +0.3% |
| 1996 | 79.4% | +5.8% |
| 1997 | 79.9% | +0.6% |
| 1998 | 74.6% | -6.6% |
| 1999 | 83.2% | +11.5% |
| 2000 | 94.4% | +13.5% |
| 2001 | 87.4% | -7.4% |
| 2002 | 80.8% | -7.6% |
| 2003 | 88.7% | +9.8% |
| 2004 | 72.1% | -18.7% |
| 2005 | 76.3% | +5.7% |
| 2006 | 71.4% | -6.4% |
| 2007 | 75.3% | +5.5% |
| 2008 | 73.9% | -1.9% |
| 2009 | 67.3% | -8.9% |
| 2010 | 69.4% | +3.2% |
| 2011 | 79.6% | +14.7% |
| 2012 | 86.7% | +8.9% |
| 2013 | 81.9% | -5.6% |
| 2014 | 74.2% | -9.4% |
| 2015 | 75.1% | +1.3% |
| 2016 | 77.6% | +3.3% |
| 2017 | 81.5% | +5.1% |
| 2018 | 78.3% | -3.9% |
| 2019 | 81.3% | +3.8% |
| 2020 | 77.5% | -4.7% |
| 2021 | 83.0% | +7.1% |
| 2022 | 94.6% | +14.0% |
| 2023 | 89.9% | -5.0% |
| 2024 | 80.8% | -10.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 80.8% | 75.2% | 89.7% | 5 |
| 1970s | 83.3% | 75.4% | 91.5% | 10 |
| 1980s | 86.4% | 77.0% | 98.8% | 10 |
| 1990s | 78.3% | 71.8% | 84.7% | 10 |
| 2000s | 78.8% | 67.3% | 94.4% | 10 |
| 2010s | 78.6% | 69.4% | 86.7% | 10 |
| 2020s | 85.2% | 77.5% | 94.6% | 5 |
Countries ranked near Faroe Islands
More private sector data for Faroe Islands
- 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$), annual growth rate 15.96 % change on previous year (2025)
- Merchandise imports (current US$), per capita 30,346 current US$ per person (2025)
Frequently asked questions
- What is merchandise trade in Faroe Islands?
- Merchandise trade in Faroe Islands was 80.8% in 2024, according to World Trade Organization (WTO).
- What is the highest merchandise trade recorded in Faroe Islands?
- The highest recorded value was 98.8% in 1984.
- What is the lowest merchandise trade recorded in Faroe Islands?
- The lowest recorded value was 67.3% in 2009.
- How does Faroe Islands rank for merchandise trade?
- Faroe Islands ranks 49th out of 204 countries with data for 2024.
- Is merchandise trade rising or falling in Faroe Islands?
- Over the last ten years it is up 8.9%. The long-run trend across the full record is flat.
- Where does this Faroe Islands data come from?
- The figures come from World Trade Organization (WTO), published as part of Merchandise trade (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.