Goods balance (credit less debit), Net (credits less debits) in Faroe Islands
Faroe Islands: Goods balance (credit less debit), Net (credits less debits) was 56.97 million in 2011. ◆ Volatile
Goods balance (credit less debit), Net (credits less debits) in Faroe Islands, 2005–2011
Source: International Monetary Fund.
Analysis
Faroe Islands recorded 56.97 million for goods balance (credit less debit), net (credits less debits) in 2011.
That represents a change of down 37.0% on the previous year and up 175.3% over ten years.
Faroe Islands ranks 62nd of 198 countries on this measure, in the middle of the range.
Goods balance (credit less debit), Net (credits less debits) in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -75.63 million | — |
| 2006 | -100.89 million | +33.4% |
| 2007 | -225.55 million | +123.6% |
| 2008 | -89.61 million | -60.3% |
| 2009 | 13.06 million | -114.6% |
| 2010 | 90.42 million | +592.3% |
| 2011 | 56.97 million | -37.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -95.72 million | -225.55 million | 13.06 million | 5 |
| 2010s | 73.69 million | 56.97 million | 90.42 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 goods balance (credit less debit), net (credits less debits) in Faroe Islands?
- Goods balance (credit less debit), net (credits less debits) in Faroe Islands was 56.97 million in 2011, according to International Monetary Fund.
- What is the highest goods balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The highest recorded value was 90.42 million in 2010.
- What is the lowest goods balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The lowest recorded value was -225.55 million in 2007.
- How does Faroe Islands rank for goods balance (credit less debit), net (credits less debits)?
- Faroe Islands ranks 62nd out of 198 countries with data for 2011.
- Is goods balance (credit less debit), net (credits less debits) rising or falling in Faroe Islands?
- Over the last ten years it is up 175.3%. 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 Goods 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.