Merchandise trade (% of GDP) in the Faroe Islands in 2024 — 80.78%. Ranked 49 in the world out of 199. Since 1965, the indicator has fallen by 8.94 pp.
1965–2024 · % of GDP
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | % | Change, pp |
|---|---|---|
| 2024 | 80.78 | −9.15 pp |
| 2023 | 89.93 | −4.7 pp |
| 2022 | 94.63 | +11.59 pp |
| 2021 | 83.04 | +5.53 pp |
| 2020 | 77.51 | −3.83 pp |
| 2019 | 81.34 | +3 pp |
| 2018 | 78.34 | −3.17 pp |
| 2017 | 81.51 | +3.95 pp |
| 2016 | 77.56 | +2.46 pp |
| 2015 | 75.1 | +0.94 pp |
| 2014 | 74.16 | −7.7 pp |
| 2013 | 81.86 | −4.87 pp |
| 2012 | 86.73 | +7.11 pp |
| 2011 | 79.62 | +10.19 pp |
| 2010 | 69.43 | +2.14 pp |
| 2009 | 67.29 | −6.61 pp |
| 2008 | 73.9 | −1.43 pp |
| 2007 | 75.33 | +3.91 pp |
| 2006 | 71.42 | −4.84 pp |
| 2005 | 76.26 | +4.14 pp |
| 2004 | 72.13 | −16.56 pp |
| 2003 | 88.69 | +7.91 pp |
| 2002 | 80.78 | −6.62 pp |
| 2001 | 87.39 | −6.97 pp |
| 2000 | 94.37 | +11.19 pp |
| 1999 | 83.18 | +8.59 pp |
| 1998 | 74.59 | −5.3 pp |
| 1997 | 79.89 | +0.46 pp |
| 1996 | 79.43 | +4.33 pp |
| 1995 | 75.1 | +0.24 pp |
| 1994 | 74.86 | +3.11 pp |
| 1993 | 71.75 | −12.94 pp |
| 1992 | 84.7 | +3.53 pp |
| 1991 | 81.17 | +2.48 pp |
| 1990 | 78.68 | −0.68 pp |
| 1989 | 79.36 | −5.92 pp |
| 1988 | 85.28 | −11.5 pp |
| 1987 | 96.78 | +11.87 pp |
| 1986 | 84.92 | −8.05 pp |
| 1985 | 92.97 | −5.86 pp |
| 1984 | 98.82 | +14.98 pp |
| 1983 | 83.85 | +6.83 pp |
| 1982 | 77.02 | −6.93 pp |
| 1981 | 83.95 | +2.61 pp |
| 1980 | 81.34 | +3.76 pp |
| 1979 | 77.58 | −4.36 pp |
| 1978 | 81.94 | −3.16 pp |
| 1977 | 85.11 | −2.15 pp |
| 1976 | 87.26 | +1.94 pp |
| 1975 | 85.31 | −6.17 pp |
| 1974 | 91.48 | +0.31 pp |
| 1973 | 91.17 | +13.24 pp |
| 1972 | 77.93 | −1.69 pp |
| 1971 | 79.62 | +4.27 pp |
| 1970 | 75.35 | −5.95 pp |
| 1969 | 81.3 | +6.14 pp |
| 1968 | 75.17 | −4.86 pp |
| 1967 | 80.03 | +2.39 pp |
| 1966 | 77.64 | −12.08 pp |
| 1965 | 89.73 | — |
The same indicator for neighboring countries — with links to their pages
The sum of exports and imports of goods as a percent of GDP. It differs from trade openness in that services are not counted here, and the difference between the two indicators is exactly what shows the weight of services in a country's foreign trade. The highest values come not from large exporters but from transshipment economies — Singapore, Hong Kong, Luxembourg — where goods are brought in to be sent out again, and both flows are counted in full.
Important: Goods only. The value can exceed 100% of GDP: exports and imports are counted at the full value of the goods while GDP is counted as value added, so in transshipment economies the values run to several hundred percent.
Source: World Development Indicators (World Bank), license CC BY 4.0.
Exports plus imports as a percent of GDP — total foreign trade turnover.
Trade Merchandise exportsExports of goods only, without services — WTO data.
Trade Merchandise importsImports of goods only, without services — WTO data.
Trade Trade balanceThe difference between exports and imports of goods and services. A minus means imports are larger.
