Services balance (credit less debit), Net (credits less debits) in Faroe Islands
Faroe Islands: Services balance (credit less debit), Net (credits less debits) was -187.40 million in 2011. ▼ Falling
Services balance (credit less debit), Net (credits less debits) in Faroe Islands, 2005–2011
Source: International Monetary Fund.
Analysis
In 2011, services balance (credit less debit), net (credits less debits) in Faroe Islands stood at -187.40 million. That is the lowest value across all 7 years on record.
The figure is down 6.8% on the previous year and down 92.7% over ten years.
Faroe Islands ranks 113th of 197 countries on this measure, in the middle of the range.
Services balance (credit less debit), Net (credits less debits) in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -97.27 million | — |
| 2006 | -99.57 million | +2.4% |
| 2007 | -144.77 million | +45.4% |
| 2008 | -129.99 million | -10.2% |
| 2009 | -172.68 million | +32.8% |
| 2010 | -175.44 million | +1.6% |
| 2011 | -187.40 million | +6.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -128.86 million | -172.68 million | -97.27 million | 5 |
| 2010s | -181.42 million | -187.40 million | -175.44 million | 2 |
Countries ranked near Faroe Islands
- 110 Solomon Islands -115.78 million compare
- 111 Guinea-Bissau -144.70 million compare
- 112 Vanuatu -151.12 million compare
- 114 Burundi -239.89 million compare
- 115 Liberia -242.08 million compare
- 116 Sierra Leone -304.99 million compare
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)
- 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)
- Secondary income balance (credit less debit), Net (credits less) 202.96 million (2011)
- Total current account credit/revenue, Credit/Revenue 1.68 billion (2011)
Frequently asked questions
- What is services balance (credit less debit), net (credits less debits) in Faroe Islands?
- Services balance (credit less debit), net (credits less debits) in Faroe Islands was -187.40 million in 2011, according to International Monetary Fund.
- What is the highest services balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The highest recorded value was -97.27 million in 2005.
- What is the lowest services balance (credit less debit), net (credits less debits) recorded in Faroe Islands?
- The lowest recorded value was -187.40 million in 2011.
- How does Faroe Islands rank for services balance (credit less debit), net (credits less debits)?
- Faroe Islands ranks 113th out of 197 countries with data for 2011.
- Is services balance (credit less debit), net (credits less debits) rising or falling in Faroe Islands?
- Over the last ten years it is down 92.7%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from International Monetary Fund, published as part of Services balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 7 observations, free to reuse under IMF Terms and Conditions (attribution required).
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.