For that indicator, The World Bank provides 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 minumum of -16.47 percent in 2007 and a maximum of 2.39 percent in 1998.
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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).