Faroe Islands: Economic globalization

The latest value from 2019 is 74 points, unavailable from points in . In comparison, the world average is 58.88 points, based on data from 185 countries. Historically, the average for the Faroe Islands from 2019 to 2019 is 74 points. The minimum value, 74 points, was reached in 2019 while the maximum of 74 points was recorded in 2019. See the global rankings or world map for that indicator or use the country comparator to compare trends over time. The value of that indicator for 2019 is 74 points.

The KOF Economic Globalization Index for the Faroe Islands and other countries has two dimensions. First, it measures the economic flows between the Faroe Islands and the rest of the world in terms of international trade and international investment. The question is whether the Faroe Islands exchanges a lot of goods, services, and investments with other countries. Second, it measures the restrictions to trade and investment such as tariffs and capital controls on international investment. Each dimension is based on several variables that are combined in one overall index that ranges from 0 to 100.

Definition: Economic globalization has two dimensions: actual economic flows and restrictions to trade and capital. The sub-index on actual economic flows includes data on trade, FDI, and portfolio investment. The sub-index on restrictions takes into account hidden import barriers, mean tariff rates, taxes on international trade (as a share of current revenue), and an index of capital controls. More information and the original data can be obtained here.