Faroe Islands: Exports of goods and services (% of GDP)
In , Faroe Islands's Exports of goods and services (% of GDP) was 54.56.
That's down 4.6% from 2023, the highest value since .
The global average for this indicator in 2024 was 44.26 . Faroe Islands ranks #41 globally out of 160 reporting countries. Within Europe & Central Asia, it ranks #20 of 49.
Source: World Bank Open Data (NE.EXP.GNFS.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 61.37
- Trough
- 41.80
- 1-year change
- -4.6%
- 5-year change
- -2.2%
- -0.4% / yr
- 10-year change
- +2.1%
- +0.2% / yr
Historical Data — Last 10 Years
| Year | Exports of goods and services (% of GDP) |
|---|---|
| 54.5563 | |
| 57.1948 | |
| 61.3744 | |
| 51.9805 | |
| 47.4284 | |
| 55.7697 | |
| 52.8180 | |
| 56.3653 | |
| 54.5363 | |
| 53.2165 |
About Exports of goods and services (% of GDP)
Exports of goods includes changes in the economic ownership of goods from residents of the compiling economy to non-residents, irrespective of physical movement of goods across national borders. Exports of services includes services provided by residents to non-residents. 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.
Indicator code: NE.EXP.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Faroe Islands's Exports of goods and services (% of GDP) in 2024?
- In 2024, Faroe Islands's Exports of goods and services (% of GDP) was 54.56, according to World Bank Open Data.
- Is Faroe Islands's Exports of goods and services (% of GDP) rising or falling?
- Faroe Islands's Exports of goods and services (% of GDP) fell 4.6% from 2023 to 2024.
- How does Faroe Islands rank globally on Exports of goods and services (% of GDP)?
- In 2024, Faroe Islands ranked #41 out of 160 countries reporting Exports of goods and services (% of GDP).
- How does Faroe Islands's Exports of goods and services (% of GDP) compare to the world average?
- The global average for Exports of goods and services (% of GDP) in 2024 was 44.26, so Faroe Islands is above the world average. Within Europe & Central Asia, it ranks #20 of 49.
- What is Exports of goods and services (% of GDP) and how is it measured?
- Exports of goods includes changes in the economic ownership of goods from residents of the compiling economy to non-residents, irrespective of physical movement of goods across national borders. Exports of services includes services provided by residents to non-residents. 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.
Source: World Bank Open Data (NE.EXP.GNFS.ZS), CC BY 4.0.