Faroe Islands: Export value index (2015 = 100)

Key figures

What the numbers say

In 2024, Faroe Islands' export value index (2015 = 100) fell 6.1 on 2023 (from 181.8 to 175.7).

Across the 18 yearly changes before that (2006 to 2023), the average change was +6.85 and a typical year strayed about 12.07 from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 32.1 in 2021 and the biggest yearly fall was 13.5 in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 8.68 a year. A straight line explains 88% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Faroe Islands had the 63rd highest value of the 204 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Faroe Islands in the 2024 ranking

• Iran, Islamic Rep. — 61st of 204: 176.5
• Indonesia — 62nd of 204: 176.1
• Comoros — 63rd of 204: 175.7
• Bosnia and Herzegovina — 65th of 204: 173.8
• Türkiye — 66th of 204: 173.4
• Côte d'Ivoire — 67th of 204: 172.8

What this measures

Export values are the current value of exports (f.o.b.) converted to U.S. dollars and expressed as a percentage of the average for the base period (2015). UNCTAD's export value indexes are reported for most economies.

All 20 values

Export value index (2015 = 100) in nearby economies

• Albania — 201.5 (2024)
• Andorra — 296.2 (2024)
• Armenia — 884 (2024)
• Austria — 140.1 (2024)
• Azerbaijan — 161.6 (2024)
• Belarus — 150.7 (2024)
• Belgium — 135 (2024)
• Bosnia and Herzegovina — 173.8 (2024)
• Bulgaria — 183.7 (2024)
• Croatia — 200.8 (2024)
• Cyprus — 134.1 (2024)
• Czechia

More trade data for Faroe Islands

• Import volume index (2015 = 100) — 134.8 (2024)
• Import value index (2015 = 100) — 165.1 (2024)
• Net barter terms of trade index (2015 = 100) — 101 (2024)
• Export volume index (2015 = 100) — 142 (2024)

Every indicator for Faroe Islands is on the Faroe Islands data page.

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Faroe Islands's export value index (2015 = 100)?

175.7 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2005?

It is up 200.34% from 58.5 in 2005 (5.96% a year on average, compounded). The highest value was 181.8 in 2023 and the lowest 58.5 in 2005.

How does Faroe Islands rank?

63rd highest of 204 economies with data for 2024.

Is the latest change in export value index (2015 = 100) unusual for Faroe Islands?

In 2024, Faroe Islands' export value index (2015 = 100) fell 6.1 on 2023 (from 181.8 to 175.7). Across the 18 yearly changes before that (2006 to 2023), the average change was +6.85 and a typical year strayed about 12.07 from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator TX.VAL.MRCH.XD.WD, licensed CC BY 4.0. Original source: UN Conference on Trade and Development (UNCTAD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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