Faroe Islands: Trade balance, percent of GDP

(measure: percent; Source: The World Bank)
* indicates monthly or quarterly data series

Faroe Islands: Trade balance as percent of GDP

: 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.
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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).
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