Faroe Islands - External balance on goods and services
External balance on goods and services (current US$)
The latest value for External balance on goods and services (current US$) in Faroe Islands was $191,951,300 as of 2019. Over the past 21 years, the value for this indicator has fluctuated between $220,404,900 in 2016 and ($377,151,600) in 2007.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | $26,504,300 |
| 1999 | ($34,460,020) |
| 2000 | ($83,569,420) |
| 2001 | ($14,634,500) |
| 2002 | ($12,831,390) |
| 2003 | ($202,028,000) |
| 2004 | ($64,612,510) |
| 2005 | ($172,889,300) |
| 2006 | ($200,443,900) |
| 2007 | ($377,151,600) |
| 2008 | ($211,804,400) |
| 2009 | ($143,856,400) |
| 2010 | ($69,486,670) |
| 2011 | ($82,068,290) |
| 2012 | ($242,986,600) |
| 2013 | ($90,771,500) |
| 2014 | ($445,434) |
| 2015 | $20,630,510 |
| 2016 | $220,404,900 |
| 2017 | $218,070,800 |
| 2018 | $53,178,350 |
| 2019 | $191,951,300 |
External balance on goods and services (current LCU)
The value for External balance on goods and services (current LCU) in Faroe Islands was 1,280,200,000 as of 2019. As the graph below shows, over the past 21 years this indicator reached a maximum value of 1,483,700,000 in 2016 and a minimum value of -2,053,100,000 in 2007.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1998 | 177,600,000 |
| 1999 | -240,400,000 |
| 2000 | -675,500,000 |
| 2001 | -121,800,000 |
| 2002 | -101,300,000 |
| 2003 | -1,330,900,000 |
| 2004 | -387,100,000 |
| 2005 | -1,036,800,000 |
| 2006 | -1,192,000,000 |
| 2007 | -2,053,100,000 |
| 2008 | -1,079,800,000 |
| 2009 | -771,200,000 |
| 2010 | -390,800,000 |
| 2011 | -440,600,000 |
| 2012 | -1,407,500,000 |
| 2013 | -509,800,000 |
| 2014 | -2,500,000 |
| 2015 | 138,800,000 |
| 2016 | 1,483,700,000 |
| 2017 | 1,439,900,000 |
| 2018 | 335,800,000 |
| 2019 | 1,280,200,000 |
External balance on goods and services (% of GDP)
External balance on goods and services (% of GDP) in Faroe Islands was 6.14 as of 2019. Its highest value over the past 21 years was 8.05 in 2016, while its lowest value was -16.47 in 2007.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | 2.39 |
| 1999 | -3.08 |
| 2000 | -7.89 |
| 2001 | -1.28 |
| 2002 | -1.02 |
| 2003 | -13.52 |
| 2004 | -3.83 |
| 2005 | -10.01 |
| 2006 | -10.10 |
| 2007 | -16.47 |
| 2008 | -8.71 |
| 2009 | -6.34 |
| 2010 | -2.99 |
| 2011 | -3.29 |
| 2012 | -10.27 |
| 2013 | -3.46 |
| 2014 | -0.02 |
| 2015 | 0.82 |
| 2016 | 8.05 |
| 2017 | 7.52 |
| 2018 | 1.74 |
| 2019 | 6.14 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
