For that indicator, we provide data for the Faroe Islands from 1998 to 2015. The average value for the Faroe Islands during that period was -5.5 percent with a minimum of -16.47 percent in 2007 and a maximum of 2.39 percent in 1998.
The latest value from 2015 is 0.82 percent. For comparison, the world average in 2015 based on 179
countries is -7.14 percent.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
The trade balance for the Faroe Islands and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).