Faroe Islands: Merchandise imports (current US$)
In , Faroe Islands's Merchandise imports (current US$) was $1.49 billion.
That's down 12.3% from 2023, the highest value since .
The global average for this indicator in 2024 was $119.47 billion . Faroe Islands ranks #170 globally out of 204 reporting countries. Within Europe & Central Asia, it ranks #50 of 51.
Source: World Bank Open Data (TM.VAL.MRCH.CD.WT) • 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
- $1.70B
- Trough
- 743.00M
- 1-year change
- -12.3%
- 5-year change
- +21.7%
- +4.0% / yr
- 10-year change
- +42.2%
- +3.6% / yr
Historical Data — Last 10 Years
| Year | Merchandise imports (current US$) |
|---|---|
| 1.494B | |
| 1.703B | |
| 1.668B | |
| 1.474B | |
| 1.250B | |
| 1.228B | |
| 1.227B | |
| 1.100B | |
| 980.000M | |
| 910.000M |
About Merchandise imports (current US$)
Merchandise imports includes goods whose economic ownership is changed from a non-resident to a resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Indicator code: TM.VAL.MRCH.CD.WT • Category: Trade & Finance
Frequently asked questions
- What was Faroe Islands's Merchandise imports (current US$) in 2024?
- In 2024, Faroe Islands's Merchandise imports (current US$) was $1.49 billion, according to World Bank Open Data.
- Is Faroe Islands's Merchandise imports (current US$) rising or falling?
- Faroe Islands's Merchandise imports (current US$) fell 12.3% from 2023 to 2024.
- How does Faroe Islands rank globally on Merchandise imports (current US$)?
- In 2024, Faroe Islands ranked #170 out of 204 countries reporting Merchandise imports (current US$).
- How does Faroe Islands's Merchandise imports (current US$) compare to the world average?
- The global average for Merchandise imports (current US$) in 2024 was $119.47 billion, so Faroe Islands is below the world average. Within Europe & Central Asia, it ranks #50 of 51.
- What is Merchandise imports (current US$) and how is it measured?
- Merchandise imports includes goods whose economic ownership is changed from a non-resident to a resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Source: World Bank Open Data (TM.VAL.MRCH.CD.WT), CC BY 4.0.