Faroe Islands Imports
Imports of goods and services, current US dollars.
Imports in Faroe Islands decreased to 2.07 USD billion in 2024 from 2.21 USD billion in 2023.
Faroe Islands Imports — History
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Faroe Islands Imports — analysis in simple words
Latest reading
Imports in Faroe Islands decreased to 2.07 USD billion in 2024 from 2.21 USD billion in 2023.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2023) it was $2.2B, so the latest figure is $0.1B lower.
Over the past five years the average was $2.0B, with a range from $1.6B to $2.2B. The latest value is above that five-year average.
Historical context
This data series starts in 1965 and has 60 annual observations. The latest reading is higher than 95% of all of them.
The highest value on record is $2.2B (2022) and the lowest is $0.0B (1965). The long-run average is $0.7B.
Compared with other countries
Among 184 economies with recent data, Faroe Islands ranks 161st from the top. The median across all these economies is $20.4B, so Faroe Islands is below the typical country.
Within Europe & Central Asia (52 economies with data) it ranks 51st; the regional median is $71.1B.
Statistics
- Latest
- $2.1B2024
- Previous
- $2.2B
- 5-year average
- $2.0B
- Long-run average
- $0.7Bsince 1965
- All-time high
- $2.2B2022
- All-time low
- $0.0B1965
- Observations
- 60Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | $2.1B | ▼ −0.1 |
| 2023 | $2.2B | ▼ −0.0 |
| 2022 | $2.2B | ▲ +0.3 |
| 2021 | $1.9B | ▲ +0.3 |
| 2020 | $1.6B | ▼ −0.1 |
| 2019 | $1.7B | ▲ +0.0 |
| 2018 | $1.7B | ▲ +0.2 |
| 2017 | $1.5B | ▲ +0.1 |
| 2016 | $1.4B | ▲ +0.1 |
| 2015 | $1.3B | ▼ −0.2 |
| 2014 | $1.5B | ▼ −0.0 |
| 2013 | $1.6B | ▲ +0.0 |
| 2012 | $1.6B | ▲ +0.2 |
| 2011 | $1.3B | ▲ +0.2 |
| 2010 | $1.2B | ▼ −0.0 |
| 2009 | $1.2B | ▼ −0.2 |
| 2008 | $1.4B | ▲ +0.1 |
| 2007 | $1.3B | ▲ +0.2 |
| 2006 | $1.1B | ▲ +0.1 |
| 2005 | $1.0B | ▲ +0.2 |
| 2004 | $0.9B | ▼ −0.1 |
| 2003 | $0.9B | ▲ +0.3 |
| 2002 | $0.6B | ▲ +0.0 |
| 2001 | $0.6B | ▼ −0.0 |
| 2000 | $0.6B | ▲ +0.0 |
| 1999 | $0.6B | ▲ +0.1 |
| 1998 | $0.5B | ▲ +0.0 |
| 1997 | $0.5B | ▼ −0.0 |
| 1996 | $0.5B | ▲ +0.2 |
| 1995 | $0.3B |
Imports — Faroe Islands vs Peers
Latest available reading for each economy (periods may differ). Faroe Islands highlighted.
More Faroe Islands indicators
Understanding Imports — a simple guide
What it measures
Imports of goods and services, current US dollars.
How it is calculated
Value of goods and services bought from other countries, in US dollars.
Imports include crude oil, electronics, gold and machinery.
Rising imports often reflect strong domestic demand.
Falling imports can reflect weaker demand or lower commodity prices.
Why it matters for the economy and markets
Imports reflect domestic demand and dependence on foreign energy, food and capital goods.
How to read it
Rising imports can signal strong domestic demand as well as competitiveness issues.
Data source
World Bank — World Development Indicators (series NE.IMP.GNFS.CD), annual data from 1965 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current imports of Faroe Islands?
What is the highest and lowest imports of Faroe Islands?
What does imports measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.