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Faeroe Islands Trade Summary

2005

Faeroe Islands exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR FAEROE ISLANDS 2005

Overall Exports and Imports for Faeroe Islands 2005

Exports and imports of Faeroe Islands in 2005 are below, along with number of countries and products

  • The total value of exports (FoB) was 602 million.
  • The total value of imports (CIF) was 747 million.
  • At the HS6 digit level, 107 products were exported to 46 countries and 3,652 products were imported from 156 countries.

Faeroe Islands top 5 Export and Import partners 2005

Top five countries to which Faeroe Islands exported in 2005 are below, along with the percent of total exports that went to that country:

  1. Faeroe Islands exports to United Kingdom worth US$ 171 million, with a partner share of 28.41 percent.
  2. Faeroe Islands exports to Denmark worth US$ 88 million, with a partner share of 14.64 percent.
  3. Faeroe Islands exports to Spain worth US$ 58 million, with a partner share of 9.65 percent.
  4. Faeroe Islands exports to France worth US$ 49 million, with a partner share of 8.16 percent.
  5. Faeroe Islands exports to Norway worth US$ 36 million, with a partner share of 5.94 percent.

Top five countries from which Faeroe Islands imported goods in 2005 are below, along with percent of total imports that came from the country :

  1. Faeroe Islands imports from Denmark worth US$ 199 million, with a partner share of 26.71 percent.
  2. Faeroe Islands imports from Norway worth US$ 130 million, with a partner share of 17.38 percent.
  3. Faeroe Islands imports from United States worth US$ 64 million, with a partner share of 8.59 percent.
  4. Faeroe Islands imports from Spain worth US$ 50 million, with a partner share of 6.67 percent.
  5. Faeroe Islands imports from Germany worth US$ 50 million, with a partner share of 6.64 percent.

Faeroe Islands Top 5 Productsexports imports at HS 6 digit level 2005

The top five exported HS 6 digit level products to world by Faeroe Islands along with trade value are:

  1. Faeroe Islands exported Frozen fish fillets , worth US$ 132,566.71 million.
  2. Faeroe Islands exported Cod salted or in brine but not dried or smoked , worth US$ 37,917.14 million.
  3. Faeroe Islands exported Flours, meals and pellets of fish, etc, unfit f , worth US$ 35,427.43 million.
  4. Faeroe Islands exported Fresh or chilled fish, nes , worth US$ 35,114.95 million.
  5. Faeroe Islands exported Fresh or chilled Pacific, Atlantic and Danube s , worth US$ 34,281.14 million.

The top five imported HS 6 digit level products from world by Faeroe Islands along with trade value are

  1. Faeroe Islands imported Petroleum oils, etc, (excl. crude); preparation , worth US$ 118,924.65 million.
  2. Faeroe Islands imported Fishing vessels and factory ships , worth US$ 73,234.83 million.
  3. Faeroe Islands imported Cruise ships, excursion boats etc principally d , worth US$ 47,268.29 million.
  4. Faeroe Islands imported Other medicaments of mixed or unmixed products, , worth US$ 13,443.09 million.
  5. Faeroe Islands imported Automobiles with reciprocating piston engine di , worth US$ 12,101.51 million.

Exports and Imports of Product Groups 2005

Exports and imports of products by stages of processing in 2005 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2005

Tariffs imposed by Faeroe Islands in 2005 are below

  • The maximum rate of tariff in percentage on any product was not available percent.
  • The simple average tariff across all products was not available percent.
  • The trade weighted average tariff was not available .
  • The total duty free imports in thousands of US dollars were not available and duty free tariff line items share was not available percent.

Development Indicators 2005

Key Development Indicators of Faeroe Islands in 2005 are below

  • Faeroe Islands GDP in current US dollar was 1,728 million.
  • GNI per capita, Atlas method (current US$) was not available .
  • Faeroe Islands Trade balance: as % of GDP was -10.01.
  • Trade balance in current US$ was -173.00 million.
  • Trade as percentage of GDP was 95.18 .
  • Trade in services as percentage of GDP was 20.97 .

Trade Indicators 2005

Trade Indicators for Faeroe Islands in 2005 are below

  • Hirschman Herfindahl market concentration index was 0.21.
  • Index of export market penetration was 1.47.
  • World Growth in percentage was 6.15 and Faeroe Islands Country Growth was -4.65 .