Faeroe Islands - Transport services

Transport services (% of service imports, BoP)

Transport services (% of service imports, BoP) in Faeroe Islands was 26.69 as of 2003. Its highest value over the past 5 years was 36.44 in 1998, while its lowest value was 26.69 in 2003.

Definition: Transport (% of service imports, BoP) covers all transport services (sea, air, land, internal waterway, space, and pipeline) performed by residents of one economy for those of another and involving the carriage of passengers, the movement of goods (freight), rental of carriers with crew, and related support and auxiliary services. Excluded are freight insurance, which is included in insurance services; goods procured in ports by nonresident carriers and repairs of transport equipment, which are included in goods; repairs of railway facilities, harbors, and airfield facilities, which are included in construction services; and rental of carriers without crew, which is included in other services. Services imports refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. International transactions in services are defined by the International Monetary Fund's (IMF) Balance of Payments Manual (1993), but definitions may nevertheless vary among reporting economies.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1998 36.44
1999 31.66
2000 29.34
2001 32.96
2002 27.65
2003 26.69

Transport services (% of service exports, BoP)

Transport services (% of service exports, BoP) in Faeroe Islands was 44.27 as of 2003. Its highest value over the past 5 years was 44.27 in 2003, while its lowest value was 33.75 in 1998.

Definition: Transport (% of service exports, BoP) covers all transport services (sea, air, land, internal waterway, space, and pipeline) performed by residents of one economy for those of another and involving the carriage of passengers, movement of goods (freight), rental of carriers with crew, and related support and auxiliary services. Excluded are freight insurance, which is included in insurance services; goods procured in ports by nonresident carriers and repairs of transport equipment, which are included in goods; repairs of railway facilities, harbors, and airfield facilities, which are included in construction services; and rental of carriers without crew, which is included in other services. Service exports refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. International transactions in services are defined by the IMF's Balance of Payments Manual (1993), but definitions may nevertheless vary among reporting economies.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1998 33.75
1999 34.71
2000 34.19
2001 39.16
2002 36.10
2003 44.27

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments