Faroe Islands Remittances Received
Personal remittances received BX.TRF.PWKR.CD.DT
Faroe Islands's remittances received was $158.4M in 2011, ranked 53rd globally. This represents a 8.2% increase from 2010. Data from World Bank, covering 1998–2011.
Overview
Faroe Islands's remittances received stood at $158.4M in 2011, a rise of +$12.0M from 2010. Faroe Islands ranked 53rd globally.
Remittances received by the Faroe Islands increased markedly from the earliest recorded level of 48,480,000.00 in 1998 to a peak of 158,411,749.98 in 2011, placing the territory at rank 53 globally in that year. The trough in 2001, when inflows fell to 39,040,000.00, underscores the volatility of external transfers during the early 2000s, a period marked by broader economic adjustments in the North Atlantic region. Over the 14‑year coverage window, the upward trajectory outpaced that of Iceland, which recorded 152,119,247.35 in the same year, and approached the levels seen in Fiji (160,556,654.46) and Samoa (159,583,630.73). The sustained rise reflects expanding diaspora networks and stronger ties to mainland Denmark, while the modest dip in 2001 suggests sensitivity to global financial shocks. Continued growth in overseas employment and stable exchange‑rate conditions are likely to keep the upward trend, barring major disruptions in the European labor market.
Data & projection
| Year | Remittances Received | YoY change | Rank |
|---|---|---|---|
| 2011 | $158.4M | +$12.0M | #53 |
| 2010 | $146.4M | +$7.7M | #61 |
| 2009 | $138.7M | +$2.2M | #60 |
| 2008 | $136.6M | +$27.4M | #60 |
| 2007 | $109.2M | +$20.1M | #52 |
| 2006 | $89.1M | +$8.8M | #50 |
| 2005 | $80.3M | +$31.1M | #47 |
| 2004 | $49.2M | +$4.8M | #38 |
| 2003 | $44.4M | +$4.6M | #39 |
| 2002 | $39.8M | +$710,000 | #42 |
| 2001 | $39.0M | −$3.9M | #43 |
| 2000 | $43.0M | −$7.1M | #47 |
| 1999 | $50.0M | +$1.6M | #52 |
| 1998 | $48.5M | – | #51 |
Analysis
Faroe Islands's remittances received was $158.4M in 2011, a rise of +$12.0M from 2010.
Frequently Asked Questions
Faroe Islands's remittances received was $158.4M in 2011. Ranked 53rd globally. This represents a 8.2% increase from the previous year.
Faroe Islands's remittances received peaked at $158.4M in 2011.
The lowest remittances received in Faroe Islands was $39.0M in 2001.
Faroe Islands ranks 53rd globally in remittances received as of 2011.
The World Bank indicator code is BX.TRF.PWKR.CD.DT. Data sourced from World Bank.
Faroe Islands's remittances received was approximately 158.41 million ($158.4M) in 2011.
The remittances received of Faroe Islands in 2011 was $158.4M. This ranks 53rd in the world.
Cite this page
@misc{historysaid_faroe-islands_remittances,
title = {Faroe Islands Remittances Received},
url = {https://historysaid.com/faroe-islands/remittances/},
publisher = {HistorySaid},
year = {2026}
}