Faroe Islands: Current account, in dollars
* indicates monthly or quarterly data series
| Faroe Islands |
Current account balance, billion USD |
|---|---|
| Latest value | 0.19 |
| Year | 2011 |
| Measure | billion U.S. dollars |
| Data availability | 1998 - 2011 |
| Average | 0.08 |
| Min - Max | -0.08 - 0.22 |
| Source | The World Bank |
The latest value from 2011 is 0.19 billion U.S. dollars, an increase from 0.14 billion U.S. dollars in 2010. In comparison, the world average is 1.12 billion U.S. dollars, based on data from 179 countries. Historically, the average for the Faroe Islands from 1998 to 2011 is 0.08 billion U.S. dollars. The minimum value, -0.08 billion U.S. dollars, was reached in 2007 while the maximum of 0.22 billion U.S. dollars was recorded in 1998.
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Definition: Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income. Data are in current U.S. dollars.
Selected articles from our guide:
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 98.12 | 2021 | percent |
| Trade openness | 124.91 | 2022 | percent |
| Exports, percent of GDP | 62.40 | 2022 | percent |
| Exports, billion dollars | 2.22 | 2022 | billion U.S. dollars |
| Imports, percent of GDP | 62.51 | 2022 | percent |
| Imports, billion dollars | 2.22 | 2022 | billion U.S. dollars |
| Current account, percent of GDP | 5.07 | 2022 | percent |
| Current account, in dollars | 0.19 | 2011 | billion U.S. dollars |
| Trade balance, percent of GDP | -0.12 | 2022 | percent |
| Trade balance, in dollars | -0.13 | 2011 | billion U.S. dollars |
| Remittances, percent of GDP | 4.45 | 2022 | percent |
| Remittances | 158.41 | 2023 | million U.S. dollars |