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Faeroe Islands Trade Summary

2008

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 2008

Overall Exports and Imports for Faeroe Islands 2008

Exports and imports of Faeroe Islands in 2008 are below, along with number of countries and products

  • The total value of exports (FoB) was 852 million.
  • The total value of imports (CIF) was 988 million.
  • At the HS6 digit level, 335 products were exported to 58 countries and 3,476 products were imported from 182 countries.

Faeroe Islands top 5 Export and Import partners 2008

Top five countries to which Faeroe Islands exported in 2008 are below, along with the percent of total exports that went to that country:

  1. Faeroe Islands exports to United Kingdom worth US$ 172 million, with a partner share of 20.22 percent.
  2. Faeroe Islands exports to Norway worth US$ 133 million, with a partner share of 15.58 percent.
  3. Faeroe Islands exports to Denmark worth US$ 103 million, with a partner share of 12.07 percent.
  4. Faeroe Islands exports to France worth US$ 68 million, with a partner share of 7.98 percent.
  5. Faeroe Islands exports to Spain worth US$ 64 million, with a partner share of 7.49 percent.

Top five countries from which Faeroe Islands imported goods in 2008 are below, along with percent of total imports that came from the country :

  1. Faeroe Islands imports from Denmark worth US$ 314 million, with a partner share of 31.74 percent.
  2. Faeroe Islands imports from Norway worth US$ 204 million, with a partner share of 20.67 percent.
  3. Faeroe Islands imports from Germany worth US$ 76 million, with a partner share of 7.65 percent.
  4. Faeroe Islands imports from Sweden worth US$ 51 million, with a partner share of 5.15 percent.
  5. Faeroe Islands imports from United Kingdom worth US$ 39 million, with a partner share of 3.98 percent.

Faeroe Islands Top 5 Productsexports imports at HS 6 digit level 2008

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$ 185,751.61 million.
  2. Faeroe Islands exported Fishing vessels and factory ships , worth US$ 110,885.70 million.
  3. Faeroe Islands exported Fresh or chilled Pacific, Atlantic and Danube s , worth US$ 106,534.06 million.
  4. Faeroe Islands exported Fish fillets, dried, salted or in brine, but no , worth US$ 52,439.58 million.
  5. Faeroe Islands exported Flours, meals and pellets of fish, etc, unfit f , worth US$ 28,706.35 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$ 206,481.31 million.
  2. Faeroe Islands imported Other medicaments of mixed or unmixed products, , worth US$ 20,559.28 million.
  3. Faeroe Islands imported Fish fats, oils and fractions (excl. fish liver , worth US$ 19,119.42 million.
  4. Faeroe Islands imported Automobiles with reciprocating piston engine di , worth US$ 13,383.50 million.
  5. Faeroe Islands imported Helicopters of an unladen weight exceeding 2,00 , worth US$ 12,859.36 million.

Exports and Imports of Product Groups 2008

Exports and imports of products by stages of processing in 2008 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2008

Tariffs imposed by Faeroe Islands in 2008 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 2008

Key Development Indicators of Faeroe Islands in 2008 are below

  • Faeroe Islands GDP in current US dollar was 2,490 million.
  • GNI per capita, Atlas method (current US$) was not available .
  • Faeroe Islands Trade balance: as % of GDP was -11.55.
  • Trade balance in current US$ was -287.00 million.
  • Trade as percentage of GDP was 103.50 .
  • Trade in services as percentage of GDP was 25.45 .

Trade Indicators 2008

Trade Indicators for Faeroe Islands in 2008 are below

  • Hirschman Herfindahl market concentration index was 0.11.
  • Index of export market penetration was 1.46.
  • World Growth in percentage was 7.43 and Faeroe Islands Country Growth was 12.22 .