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Faroe Islands - Trade Balance 2024

Name: Faroe Islands Trade Balance 2024
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

External balance on goods and services · World Bank

$136.2M +$94.6M from 2023 Global rank: 92nd

Faroe Islands's trade balance was $136.2M in 2024, increased +$94.6M from $41.5M in 2023. This was the 92nd highest globally.

Global Ranking - 2024▾

Trade Balance by Country - 2024
Rank	Country	Value	YoY
1st	United States	$-909.6B	-14.1%
2nd	India	$-90.9B	-19.3%
3rd	Philippines	$-66.2B	-7.1%
4th	Ukraine	$-36.1B	4.7%
5th	Japan	$-35.0B	42.6%
6th	United Kingdom	$-32.1B	19.6%
7th	Egypt, Arab Republic of	$-26.6B	-200.7%
8th	Bangladesh	$-26.4B	-29.1%
9th	Pakistan	$-25.3B	-0.3%
10th	Iran, Islamic Republic of	$-23.6B	-232.3%
11th	Romania	$-23.0B	-35.3%
12th	Mexico	$-21.9B	15.3%
13th	Colombia	$-20.2B	-16.8%
14th	Guatemala	$-17.6B	-11.9%
15th	Uzbekistan	$-17.5B	1.4%
16th	Greece	$-14.2B	-22.2%
17th	Morocco	$-13.2B	-8.8%
18th	Nepal	$-10.9B	4.1%
19th	France	$-10.4B	80.2%
20th	Honduras	$-8.9B	-7.8%
21st	Somalia, Fed. Rep.	$-8.1B	-25.2%
22nd	Dominican Republic	$-7.8B	10.4%
23rd	Jordan	$-7.7B	-13.4%
24th	Kenya	$-7.3B	7.5%
25th	Kyrgyz Republic	$-7.1B	19.9%
26th	El Salvador	$-6.8B	-5.7%
27th	Senegal	$-6.2B	20.4%
28th	Canada	$-5.9B	-501.7%
29th	West Bank and Gaza	$-5.4B	31.6%
30th	Uganda	$-4.9B	0.4%
31st	Moldova	$-4.7B	-18.4%
32nd	Croatia	$-4.3B	-134.6%
33rd	New Zealand	$-4.2B	44.7%
34th	Serbia	$-4.1B	-16.2%
35th	Bosnia and Herzegovina	$-4.0B	-22.3%
36th	Haiti	$-3.9B	3.0%
37th	Guinea	$-3.7B	-121.2%
38th	Namibia	$-3.5B	-20.7%
39th	Nicaragua	$-3.5B	-46.3%
40th	Kosovo	$-3.4B	-5.6%
41st	Tunisia	$-3.2B	-10.8%
42nd	Botswana	$-3.2B	-279.0%
43rd	Georgia	$-2.7B	-0.9%
44th	Sri Lanka	$-2.6B	-43.8%
45th	Belgium	$-2.6B	-10.3%
46th	Mozambique	$-2.3B	26.8%
47th	Bolivia, Plurinational State of	$-2.3B	10.3%
48th	Zimbabwe	$-2.2B	-3.0%
49th	North Macedonia	$-2.2B	-6.6%
50th	Congo, Democratic Republic of	$-2.2B	-17.6%
51st	Albania	$-1.9B	-43.7%
52nd	Montenegro	$-1.9B	-32.4%
53rd	French Polynesia	$-1.8B	-21.8%
54th	Mauritius	$-1.7B	-28.7%
55th	Cameroon	$-1.6B	20.3%
56th	Madagascar	$-1.5B	-30.2%
57th	Tanzania	$-1.5B	51.6%
58th	New Caledonia	$-1.5B	16.3%
59th	Timor-Leste	$-1.4B	-53.4%
60th	Belarus	$-1.4B	-500.2%
61st	Mali	$-1.3B	35.9%
62nd	Rwanda	$-1.2B	44.5%
63rd	Mauritania	$-1.2B	28.6%
64th	Algeria	$-1.2B	-112.2%
65th	Paraguay	$-1.1B	-245.3%
66th	Burkina Faso	$-783.2M	25.9%
67th	Armenia	$-730.4M	-115.4%
68th	Latvia	$-696.4M	55.6%
69th	Benin	$-635.8M	30.6%
70th	Gambia, The	$-593.4M	3.7%
71st	Bahamas, The	$-581.9M	-311.2%
72nd	Solomon Islands	$-478.6M	-11.0%
73rd	Central African Republic	$-451.7M	-21.1%
74th	Sierra Leone	$-419.3M	51.1%
75th	Seychelles	$-390.8M	-27.5%
76th	Comoros	$-353.8M	-6.8%
77th	Iceland	$-353.6M	-225.9%
78th	Slovak Republic	$-346.4M	-116.2%
79th	Guinea-Bissau	$-335.2M	-12.1%
80th	Cambodia	$-333.7M	-87.0%
81st	Cabo Verde	$-313.6M	24.0%
82nd	Sudan	$-275.0M	-167.6%
83rd	Mongolia	$-241.6M	-112.3%
84th	Samoa	$-214.1M	27.9%
85th	Micronesia, Federated States of	$-210.0M	-11.7%
86th	Marshall Islands	$-115.1M	-5.6%
87th	Nauru	$-89.8M	-3.9%
88th	Maldives	$-3.2M	96.2%
89th	Eswatini	$1.5M	101.2%
90th	Belize	$47.2M	-55.3%
91st	Estonia	$129.9M	-67.2%
92nd	Faroe Islands	$136.2M	227.9%
93rd	Aruba	$325.0M	46.6%
94th	Djibouti	$481.4M	-20.8%
95th	Côte d'Ivoire	$689.3M	121.6%
96th	Niger	$928.6M	492.8%
97th	Ghana	$953.4M	239.9%
98th	Finland	$1.1B	1,483.9%
99th	Equatorial Guinea	$1.2B	-13.9%
100th	Cyprus	$1.4B	91.4%
101st	Zambia	$1.9B	97.5%
102nd	Congo, Republic of	$1.9B	-27.8%
103rd	Chad	$2.3B	9.5%
104th	Brunei Darussalam	$2.4B	-2.0%
105th	Bermuda	$2.7B	16.1%
106th	Bulgaria	$2.8B	-32.2%
107th	Turkmenistan	$3.3B	-21.6%
108th	Uruguay	$4.1B	55.8%
109th	Ecuador	$4.2B	2,473.9%
110th	Panama	$4.4B	78.9%
111th	Lithuania	$4.4B	41.1%
112th	Slovenia	$4.5B	-3.1%
113th	Malta	$4.7B	15.0%
114th	Costa Rica	$5.5B	17.9%
115th	Portugal	$5.8B	68.4%
116th	Brazil	$6.4B	-87.2%
117th	Azerbaijan	$6.8B	-35.3%
118th	Türkiye	$7.3B	134.5%
119th	Libya	$7.3B	11.6%
120th	Gabon	$7.8B	11.2%
121st	South Africa	$7.8B	146.1%
122nd	Bahrain	$8.3B	3.6%
123rd	Hungary	$9.5B	9.4%
124th	Puerto Rico (US)	$11.5B	72.5%
125th	Chile	$11.8B	293.4%
126th	Iraq	$12.0B	-54.3%
127th	Angola	$12.2B	-1.7%
128th	Israel	$13.1B	-9.9%
129th	Austria	$13.5B	43.9%
130th	Peru	$16.2B	74.0%
131st	Argentina	$16.4B	344.7%
132nd	Sweden	$16.5B	2.9%
133rd	Hong Kong SAR, China	$16.6B	642.0%
134th	Kazakhstan	$17.5B	-3.9%
135th	Thailand	$17.7B	65.7%
136th	Oman	$18.5B	4.3%
137th	Macao SAR, China	$20.9B	17.7%
138th	Czechia	$21.7B	28.0%
139th	Malaysia	$22.5B	17.9%
140th	Indonesia	$25.0B	-15.9%
141st	Luxembourg	$29.7B	3.8%
142nd	Viet Nam	$30.7B	-12.8%
143rd	Poland	$36.7B	-21.2%
144th	Australia	$36.9B	-51.2%
145th	Denmark	$43.5B	19.3%
146th	Saudi Arabia	$43.9B	-43.0%
147th	Italy	$52.1B	44.4%
148th	Norway	$65.9B	-11.8%
149th	Spain	$71.8B	15.6%
150th	Korea	$76.4B	975.9%
151st	Russian Federation	$94.0B	9.3%
152nd	Switzerland	$95.7B	-5.7%
153rd	Netherlands	$134.0B	18.7%
154th	Germany	$177.0B	-2.3%
155th	Singapore	$192.6B	1.8%
156th	Ireland	$254.6B	34.4%
157th	China	$533.7B	39.1%

FAQ

What was Faroe Islands's trade balance in 2024?▾

Faroe Islands's trade balance in 2024 was $136.2M. This ranked 92nd globally.

How did Faroe Islands's trade balance change in 2024?▾

Faroe Islands's trade balance increased by 227.9% in 2024 compared to 2023.

Which country had the highest trade balance in 2024?▾

China had the highest trade balance in 2024 at $533.7B.

What is the trade balance of Faroe Islands in 2024?▾

The trade balance of Faroe Islands in 2024 was $136.2M. This ranked 92nd globally.

How does 2024 compare to 2023 for Faroe Islands's trade balance?▾

Faroe Islands's trade balance went from $41.5M in 2023 to $136.2M in 2024, a 227.9% increase.

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