Trade openness in the Faroe Islands in 2024 — 105.75%. Ranked 55 in the world out of 172. Since 1962, the indicator has risen by 7.06 pp.
1962–2024 · % of GDP
How the value compares with the world and the groups this territory belongs to: Faroe Islands
| Year | % | Change, pp |
|---|---|---|
| 2024 | 105.75 | −7.58 pp |
| 2023 | 113.34 | −9.53 pp |
| 2022 | 122.86 | +19.38 pp |
| 2021 | 103.49 | +7.26 pp |
| 2020 | 96.22 | −12.4 pp |
| 2019 | 108.62 | +1.75 pp |
| 2018 | 106.87 | −0.36 pp |
| 2017 | 107.24 | +2.69 pp |
| 2016 | 104.55 | −1.06 pp |
| 2015 | 105.61 | −0.53 pp |
| 2014 | 106.14 | −7.92 pp |
| 2013 | 114.06 | −3.1 pp |
| 2012 | 117.16 | +11.31 pp |
| 2011 | 105.85 | +8.66 pp |
| 2010 | 97.18 | +0.32 pp |
| 2009 | 96.86 | −6.64 pp |
| 2008 | 103.5 | +3.99 pp |
| 2007 | 99.51 | +2.11 pp |
| 2006 | 97.39 | −3.57 pp |
| 2005 | 100.96 | +7.55 pp |
| 2004 | 93.42 | −14.84 pp |
| 2003 | 108.26 | +9.64 pp |
| 2002 | 98.62 | −6.28 pp |
| 2001 | 104.9 | −5.64 pp |
| 2000 | 110.55 | +10.05 pp |
| 1999 | 100.49 | +8.88 pp |
| 1998 | 91.61 | −6.02 pp |
| 1997 | 97.63 | −1.13 pp |
| 1996 | 98.76 | +23.06 pp |
| 1995 | 75.7 | −0.05 pp |
| 1994 | 75.76 | +3.06 pp |
| 1993 | 72.7 | −12.16 pp |
| 1992 | 84.86 | +3.21 pp |
| 1991 | 81.65 | +2.78 pp |
| 1990 | 78.88 | −1.01 pp |
| 1989 | 79.89 | −5.97 pp |
| 1988 | 85.86 | −7.28 pp |
| 1987 | 93.14 | +5.14 pp |
| 1986 | 88 | −5.92 pp |
| 1985 | 93.92 | −5.8 pp |
| 1984 | 99.72 | +15.15 pp |
| 1983 | 84.56 | +5.3 pp |
| 1982 | 79.26 | −4.2 pp |
| 1981 | 83.46 | +2.17 pp |
| 1980 | 81.29 | +1.8 pp |
| 1979 | 79.49 | −0.76 pp |
| 1978 | 80.26 | −4.64 pp |
| 1977 | 84.9 | −2 pp |
| 1976 | 86.91 | +1.56 pp |
| 1975 | 85.34 | −8.27 pp |
| 1974 | 93.61 | +3.01 pp |
| 1973 | 90.6 | +12.48 pp |
| 1972 | 78.11 | −0.67 pp |
| 1971 | 78.79 | +3.53 pp |
| 1970 | 75.26 | −3.99 pp |
| 1969 | 79.25 | +4.49 pp |
| 1968 | 74.76 | −4.21 pp |
| 1967 | 78.97 | +2.73 pp |
| 1966 | 76.24 | −11.22 pp |
| 1965 | 87.46 | +5.19 pp |
| 1964 | 82.27 | −3.82 pp |
| 1963 | 86.1 | −12.6 pp |
| 1962 | 98.69 | — |
The same indicator for neighboring countries — with links to their pages
The sum of exports and imports of goods and services as a percent of GDP — the standard indicator of the trade openness of an economy. Values above 100% are not an anomaly: they mean that trade turnover exceeds annual GDP, which is typical of trading hubs and of small economies built into supply chains.
Source: World Development Indicators (World Bank), license CC BY 4.0.
Merchandise exports plus imports as a percent of GDP — without services.
Trade Exports (% of GDP)How far the economy is oriented toward external markets.
Trade Imports (% of GDP)How far the economy depends on supplies from abroad.
Trade Trade balanceThe difference between exports and imports of goods and services. A minus means imports are larger.
