Current account balance (credit less debit), Net (credits less debits) in Faroe Islands
Faroe Islands: Current account balance (credit less debit), Net (credits less debits) was 194.30 million in 2011. ◆ Volatile
Current account balance (credit less debit), Net (credits less debits) in Faroe Islands, 2005–2011
Source: International Monetary Fund.
Analysis
Faroe Islands recorded 194.30 million for current account balance (credit less debit), net (credits less debits) in 2011. That is the highest value across all 7 years on record.
The figure is up 34.7% on the previous year and up 523.1% over ten years.
That places Faroe Islands 69th out of 198 countries with data for 2011, putting it in the middle of the range.
Current account balance (credit less debit), Net (credits less debits) in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 31.18 million | — |
| 2006 | 21.24 million | -31.9% |
| 2007 | -80.57 million | -479.3% |
| 2008 | -30.58 million | -62.0% |
| 2009 | -24.64 million | -19.4% |
| 2010 | 144.28 million | -685.6% |
| 2011 | 194.30 million | +34.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -16.67 million | -80.57 million | 31.18 million | 5 |
| 2010s | 169.29 million | 144.28 million | 194.30 million | 2 |
Countries ranked near Faroe Islands
More financial sector data for Faroe Islands
- Net migration, annual growth rate -20.9 % change on previous year (2025)
- Net migration 386 (2025)
- Official exchange rate 6.62 LCU per US$, period average (2025)
- GDP deflator: linked series 135.45 base year varies by country (2024)
- Inflation, GDP deflator: linked series 2.0% (2024)
- GDP deflator: linked series (base year varies by country), annual 2 % change on previous year (2024)
- Banking crisis dummy 0 1=banking crisis, 0=none (2017)
- Remittance inflows to GDP 0.0% (2019)
- Total current account credit/revenue, Credit/Revenue 1.68 billion (2011)
- Services balance (credit less debit), Net (credits less debits) -187.40 million (2011)
Frequently asked questions
- What is current account balance (credit less debit), net (credits less debits) in Faroe Islands?
- Current account balance (credit less debit), net (credits less debits) in Faroe Islands was 194.30 million in 2011, according to International Monetary Fund.
- What is the highest current account balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The highest recorded value was 194.30 million in 2011.
- What is the lowest current account balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The lowest recorded value was -80.57 million in 2007.
- How does Faroe Islands rank for current account balance (credit less debit), net (credits less debits)?
- Faroe Islands ranks 69th out of 198 countries with data for 2011.
- Is current account balance (credit less debit), net (credits less debits) rising or falling in Faroe Islands?
- Over the last ten years it is up 523.1%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from International Monetary Fund, published as part of Current account balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.