Secondary income balance (credit less debit), Net (credits less) in Faroe Islands
Faroe Islands: Secondary income balance (credit less debit), Net (credits less) was 202.96 million in 2011. ▲ Rising
Secondary income balance (credit less debit), Net (credits less) in Faroe Islands, 2005–2011
Source: International Monetary Fund.
Analysis
In 2011, secondary income balance (credit less debit), net (credits less) in Faroe Islands stood at 202.96 million. That is the highest value across all 7 years on record.
Compared with earlier readings it is up 39.0% on the previous year and up 53.6% over ten years.
Faroe Islands ranks 106th of 197 countries on this measure, in the middle of the range.
Secondary income balance (credit less debit), Net (credits less) in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 132.13 million | — |
| 2006 | 141.39 million | +7.0% |
| 2007 | 201.59 million | +42.6% |
| 2008 | 149.49 million | -25.8% |
| 2009 | 142.80 million | -4.5% |
| 2010 | 146.06 million | +2.3% |
| 2011 | 202.96 million | +39.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 153.48 million | 132.13 million | 201.59 million | 5 |
| 2010s | 174.51 million | 146.06 million | 202.96 million | 2 |
Countries ranked near Faroe Islands
More financial sector data for Faroe Islands
- Official exchange rate 6.62 LCU per US$, period average (2025)
- Net migration 386 (2025)
- Net migration, annual growth rate -20.9 % change on previous year (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)
- Primary income balance (credit less debit), Net (credits less debits) 121.78 million (2011)
- Services balance (credit less debit), Net (credits less debits) -187.40 million (2011)
Frequently asked questions
- What is secondary income balance (credit less debit), net (credits less) in Faroe Islands?
- Secondary income balance (credit less debit), net (credits less) in Faroe Islands was 202.96 million in 2011, according to International Monetary Fund.
- What is the highest secondary income balance (credit less debit), net (credits less) recorded in Faroe Islands?
- The highest recorded value was 202.96 million in 2011.
- What is the lowest secondary income balance (credit less debit), net (credits less) recorded in Faroe Islands?
- The lowest recorded value was 132.13 million in 2005.
- How does Faroe Islands rank for secondary income balance (credit less debit), net (credits less)?
- Faroe Islands ranks 106th out of 197 countries with data for 2011.
- Is secondary income balance (credit less debit), net (credits less) rising or falling in Faroe Islands?
- Over the last ten years it is up 53.6%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from International Monetary Fund, published as part of Secondary income 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.