Faeroe Islands Trade at a Glance : Most Recent Values

Latest trade data available from various sources.

Please note: The data from various sources are not from the same year.
Faeroe Islands monthly trade data
Faeroe Islands quarterly trade data

Country / Region

Year

Faeroe Islands exports, imports, trade and tariff indicators

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

TABLE
TEXT

Faeroe Islands TRADE

Overall Exports and Imports

Annual Trade (2025)

Definition	Total Import/Export Value in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	OCT-08-2025

Exports (in US$ Mil)

2,063

Definition	Total Import/Export Value in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	OCT-08-2025

Imports (in US$ Mil)

1,731

Definition	Total of Import and Export Value in millions of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	Mar-19-2026

Total Trade (in US$ Mil)

3,794

Definition	Difference between exports and imports of goods in millions of US Dollars current value.
Source	WITS - UNSD Comtrade
Last Updated	Mar-19-2026

Trade Balance (in US$ Mil)

333

Monthly Trade (Feb 2026)

Definition	Monthly Total of Imports and Exports Value in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	Mar-19-2026

Monthly Exports (in US$ 000)

170,345

Definition	Monthly Total Import/Export Value in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	Mar-19-2026

Monthly Imports (in US$ 000)

134,773

Definition	Monthly Total of Exports and Imports Value in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Classification	Harmonized System
Valuation	Export - FOB; Import - CIF
Currency Unit	US Dollar - Current value
Last Updated	Mar-19-2026

Total Monthly Trade (in US$ 000)

305,117

Definition	Difference between a country's total monthly exports and total imports in thousands of US Dollars current value.
Source	WITS - UNSD Comtrade
Last Updated	Mar-19-2026

Monthly Trade Balance

35,572

Trade Indicator

Definition	Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporter’s partners. A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. Similarly, a country with a perfectly diversified trade portfolio will have an index close to zero.
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit
Notes	1) Mirror Exports is considered for export data 2) All Countries except World and EUN are considered as partner group 3) Product 'Total' is used for this computation 4) The indicator is computed at reporter-partner level and aggregated to reporter level
Last Updated	DEC-12-2024

HH Market concentration index

0.12

Definition	It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year.
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit
Notes	1) Mirror Exports is considered for export data 2) All products at HS 6 digits are considered 3) Computation is performed at Country-Product level and aggregated to country level
Last Updated	DEC-12-2024

Index of export market penetration

1.46

Definition	Annual percentage growth rate of the world’s trade value (export or import), by sector, at market prices in current U.S. dollars
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit
Notes	1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year
Last Updated	DEC-12-2024

World Growth

-12.28

Definition	Annual percentage growth rate of the country’s trade value (export or import), by sector, at market prices in current U.S. dollars
Source	WITS - UNSD Comtrade
Classification	Harmonized System 1988/92, SITC Revision 2
Valuation	Export - FOB; Import - CIF
Currency Unit
Notes	1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year
Last Updated	DEC-12-2024

Country Growth

-15.72

Service Indicators 2023

Definition	Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Data are in current U.S. dollars.
Source	WDI
Topic	Economic Policy & Debt: Balance of payments: Current account: Goods, services & income
Last Updated	DEC-12-2024

Service imports (BoP, current US$)

...

Definition	Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Data are in current U.S. dollars.
Source	WDI
Topic	Economic Policy & Debt: Balance of payments: Current account: Goods, services & income
Last Updated	DEC-12-2024

Service exports (BoP, current US$)

...

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.
Source	WDI
Topic	Economic Policy & Debt: National accounts: Shares of GDP & other
Last Updated	DEC-12-2024

Imports of goods and services (% of GDP)

56.62

Definition	Exports of goods and services represent the value of all goods and other market services provided to 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.
Source	WDI
Topic	Economic Policy & Debt: National accounts: Shares of GDP & other
Last Updated	DEC-12-2024

Exports of goods and services (% of GDP)

57.72

Tariff and Trade Barriers for Faeroe Islands

Tariffs

Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes
Last Updated	DEC-12-2024

No. Of Tariff Agreement

...

Definition	Effectively Applied Simple Average tariff (%)
Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes	Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated	DEC-12-2024

Simple Average (%)

...

Definition	Effectively Applied Duty Free Imports in thousands of US Dollar
Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes	Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated	DEC-12-2024

Duty Free Imports (US$ Thousand)

...

Definition	Effectively Applied MaxRate (%) tariff; The highest tariff value at the tariff line level within the product category
Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes	Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated	DEC-12-2024

Maximum Rate (%)

...

Definition	Effectively Applied Weighted Average (%) tariff; The average of tariffs weighted by their corresponding trade value
Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes	Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated	DEC-12-2024

Weighted Average (%)

...

Definition	Effectively Applied Duty Free Tariff Lines Share in percentage
Source	WITS - UNCTAD TRAINS
Classification	Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes	1) Tariff_AHS_DutyFreeLines]*100/[Tariff_AHS_TotalLines] 2) Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated	DEC-12-2024

Duty Free Tariff Lines Share (%)

...

Foreign Direct Investment (FDI)

UNCTAD »

Definition	The accumulated value of foreign direct investment held in the reporting economy at the end of a reference period.
Source	UNCTADSTAT
Last Updated	Mar-19-2026

FDI Inward Stock (in US$ Mil)

...

Definition	The value of foreign direct investment transactions recorded into the reporting economy during a reference period.
Source	UNCTADSTAT
Last Updated	Mar-19-2026

FDI Inward Flow (in US$ Mil)

...

Definition	The accumulated value of direct investments held by resident enterprises of the reporting economy in foreign economies at the end of a reference period.
Source	UNCTADSTAT
Last Updated	Mar-19-2026

FDI Outward Stock (in US$ Mil)

...

Definition	The value of direct investment transactions made by resident enterprises of the reporting economy to foreign economies during a reference period.
Source	UNCTADSTAT
Last Updated	Mar-19-2026

FDI Outward Flow (in US$ Mil)

...

Non-Tariff Measures (NTM)

Definition	Number of distinct NTM measures in effect in a country in a particular year.
Source	WITS - UNCTAD TRAINS
Notes	Please note this indicator is not cross country comparable. For India NTM's in Chapter A and B are not covered. For more information click here
Last Updated	Jul-2016

No Of NTM Measures

...

Definition	Number of products at HS 6 digit level that are affected in a particular year
Source	WITS - UNCTAD TRAINS
Notes	Please note this indicator is not cross country comparable. For India NTM's in Chapter A and B are not covered. For more information click here
Last Updated	Jul-2016

No Of NTM Affected Products (HS 6 Digit)

...

Services Service Policy Restrictive Database (SPRD)

SPRD »

Source	Services Service Policy Restrictive Database
Last Updated	Jul-2014

Services Trade Restrictions Index - Over All

...

World Development Indicators (WDI)

2023 WDI »

Definition	Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. The values shown are midyear estimates.
Source	WDI
Topic	Health: Population: Structure
Last Updated	DEC-12-2024

Population

48,497

Definition	GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
Source	WDI
Topic	Economic Policy & Debt: National accounts: US$ at current prices: Aggregate indicators
Last Updated	DEC-12-2024

GDP (current US$ Mil)

3,907

Definition	GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.
Source	WDI
Topic	Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita
Last Updated	DEC-12-2024

GNI per capita, Atlas method (current US$)

72,200.00

Definition	Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$)
Source	WITS - WDI
Notes	Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD
Last Updated	DEC-12-2024

Trade Balance (current US$ Mil)

43.00

Definition	Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP)
Source	WITS - WDI
Notes	Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS
Last Updated	DEC-12-2024

Trade Balance (% of GDP)

1.10

Global Value Chain (GVC)

GVC »

Definition	A measure that quantifies the portion of a sector's total output that is involved in Global Value Chains (GVCs).
Source	WITS - GVC
Last Updated	Mar-19-2026

GVC Related Output as Percent of Output

...

Definition	Share of a country's gross trade (exports or imports) that is associated with Global Value Chains (GVCs).
Source	WITS - GVC
Last Updated	Mar-19-2026

GVC Related Trade Percentage Gross Trade

...