Remittances received in the Faroe Islands in 2011 — 158,411,750 US$. Ranked 128 in the world out of 181. Since 1998, the indicator has risen by 226.8%.
1998–2011 · US$
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | US$ | Change | Change, % |
|---|---|---|---|
| 2011 | 158M | +12.02M | +8.21% |
| 2010 | 146M | +7.65M | +5.51% |
| 2009 | 139M | +2.17M | +1.59% |
| 2008 | 137M | +27.39M | +25.09% |
| 2007 | 109M | +20.12M | +22.6% |
| 2006 | 89.06M | +8.77M | +10.93% |
| 2005 | 80.28M | +31.06M | +63.12% |
| 2004 | 49.22M | +4.84M | +10.9% |
| 2003 | 44.38M | +4.63M | +11.65% |
| 2002 | 39.75M | +710,000 | +1.82% |
| 2001 | 39.04M | −3.93M | −9.15% |
| 2000 | 42.97M | −7.07M | −14.13% |
| 1999 | 50.04M | +1.56M | +3.22% |
| 1998 | 48.48M | — | — |
The same indicator for neighboring countries — with links to their pages
Personal remittances received by a country: the earnings of labor migrants sent home, plus transfers between households. For a couple of dozen countries this flow is larger than any single export item, and for several it exceeds a fifth of GDP — remittances then become the main external link of the economy, steadier than both direct investment and foreign aid: in a crisis they usually do not fall but rise, because migrants send their families more.
Important: Only transfers through banks and money transfer systems are counted. Cash brought in person does not reach the statistics, so the real volumes are higher — by estimates, noticeably so.
Source: World Development Indicators (World Bank), license CC BY 4.0.
How much money leaves a country in remittances — mostly the earnings of incomers.
Migration Number of immigrantsHow many people born abroad live in the country at present.
Economy Gross national incomeThe income received by the residents of a country — including what is earned abroad, but without what foreigners earn inside it.
