Faroe Islands: Imports, billion dollars

The latest value from 2023 is 2.21 billion U.S. dollars, a decline from 2.22 billion U.S. dollars in 2022. In comparison, the world average is 189.99 billion U.S. dollars, based on data from 154 countries. Historically, the average for the Faroe Islands from 1965 to 2023 is 0.69 billion U.S. dollars. The minimum value, 0.03 billion U.S. dollars, was reached in 1965 while the maximum of 2.22 billion U.S. dollars was recorded in 2022. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

Definition: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in current U.S. dollars.