Faroe Islands - Trade Openness 2022
122.86%
+19.38% from 2021
Faroe Islands's trade openness was 122.86% in 2022, increased +19.38% from 103.49% in 2021. This was the 134th highest globally.
Global Ranking - 2022▾
| Rank | Country | Value | YoY |
|---|---|---|---|
| 1st | Sudan | 2.70% | -34.6% |
| 2nd | United States | 27.31% | 6.7% |
| 3rd | Argentina | 31.58% | -4.5% |
| 4th | Pakistan | 33.03% | 22.2% |
| 5th | Bangladesh | 33.78% | 21.8% |
| 6th | Uganda | 34.51% | -17.3% |
| 7th | Tanzania | 35.00% | 17.0% |
| 8th | Syrian Arab Republic | 35.61% | -41.8% |
| 9th | Haiti | 36.53% | -1.4% |
| 10th | Egypt, Arab Republic of | 36.98% | 23.9% |
| 11th | Turkmenistan | 37.36% | 13.0% |
| 12th | China | 37.44% | 2.5% |
| 13th | Brazil | 38.82% | 3.1% |
| 14th | Kenya | 40.28% | 15.1% |
| 15th | Cameroon | 41.29% | 12.4% |
| 16th | Russian Federation | 42.78% | -15.4% |
| 17th | Malawi | 43.62% | -2.2% |
| 18th | Benin | 44.38% | -7.6% |
| 19th | Gambia, The | 44.72% | 6.2% |
| 20th | Sierra Leone | 45.05% | 6.9% |
| 21st | Central African Republic | 45.23% | 2.4% |
| 22nd | Indonesia | 45.46% | 13.1% |
| 23rd | Australia | 45.69% | 13.7% |
| 24th | Guinea-Bissau | 45.76% | 2.1% |
| 25th | Sri Lanka | 46.68% | 13.2% |
| 26th | Japan | 46.81% | 27.4% |
| 27th | Chad | 47.99% | 9.2% |
| 28th | Colombia | 48.28% | 20.5% |
| 29th | Iran, Islamic Republic of | 48.92% | 14.6% |
| 30th | Nepal | 48.97% | 13.7% |
| 31st | India | 50.08% | 10.2% |
| 32nd | Comoros | 50.39% | 19.8% |
| 33rd | New Caledonia | 50.47% | 2.9% |
| 34th | Algeria | 51.19% | 9.3% |
| 35th | Niger | 52.81% | 42.7% |
| 36th | Côte d'Ivoire | 52.87% | 17.2% |
| 37th | New Zealand | 53.48% | 10.2% |
| 38th | Dominican Republic | 54.38% | 4.7% |
| 39th | Guatemala | 54.43% | 10.5% |
| 40th | Zimbabwe | 55.07% | 24.8% |
| 41st | Angola | 55.25% | -10.2% |
| 42nd | Saudi Arabia | 56.82% | 11.7% |
| 43rd | Peru | 57.30% | 3.4% |
| 44th | Bolivia, Plurinational State of | 57.52% | 20.7% |
| 45th | Israel | 60.64% | 10.5% |
| 46th | Samoa | 60.85% | 1.8% |
| 47th | Uruguay | 61.03% | 4.7% |
| 48th | Rwanda | 61.15% | 12.6% |
| 49th | Mali | 61.56% | 8.5% |
| 50th | Togo | 61.58% | 9.2% |
| 51st | Ecuador | 61.88% | 16.2% |
| 52nd | Uzbekistan | 62.84% | 9.4% |
| 53rd | Vanuatu | 63.60% | 6.1% |
| 54th | South Africa | 64.95% | 15.6% |
| 55th | Tajikistan | 65.44% | -8.9% |
| 56th | Canada | 67.32% | 8.1% |
| 57th | Burkina Faso | 67.52% | 8.2% |
| 58th | Kazakhstan | 68.33% | 16.5% |
| 59th | Iraq | 68.76% | 11.8% |
| 60th | United Kingdom | 69.20% | 18.2% |
| 61st | Zambia | 69.30% | -19.6% |
| 62nd | French Polynesia | 69.53% | 31.2% |
| 63rd | Ghana | 70.12% | 11.8% |
| 64th | Tonga | 70.13% | 2.3% |
| 65th | Madagascar | 70.55% | 27.8% |
| 66th | Guam | 71.87% | 16.2% |
| 67th | Italy | 72.02% | 19.4% |
| 68th | Philippines | 72.43% | 14.1% |
| 69th | Afghanistan | 72.89% | 41.8% |
| 70th | Paraguay | 73.74% | 5.7% |
| 71st | Solomon Islands | 74.84% | 11.0% |
| 72nd | Bermuda | 75.20% | 5.3% |
| 73rd | Chile | 75.20% | 15.9% |
| 74th | France | 75.96% | 19.1% |
| 75th | Bahamas, The | 75.98% | 15.2% |
| 76th | Spain | 78.47% | 17.9% |
| 77th | Senegal | 79.60% | 14.7% |
| 78th | Türkiye | 79.90% | 14.8% |
| 79th | Equatorial Guinea | 81.81% | 6.3% |
| 80th | Costa Rica | 82.23% | 16.2% |
| 81st | West Bank and Gaza | 82.39% | 12.7% |
| 82nd | Norway | 82.61% | 16.0% |
| 83rd | Albania | 84.70% | 12.0% |
| 84th | Bhutan | 85.57% | 10.3% |
| 85th | Botswana | 85.61% | -3.5% |
| 86th | Congo, Democratic Republic of | 85.82% | 13.8% |
| 87th | Azerbaijan | 86.98% | 14.0% |
| 88th | Ukraine | 87.40% | 5.7% |
| 89th | El Salvador | 88.70% | 8.4% |
| 90th | Germany | 88.79% | 11.1% |
| 91st | Mexico | 88.80% | 6.9% |
| 92nd | Korea | 90.59% | 20.3% |
| 93rd | Micronesia, Federated States of | 90.63% | 3.8% |
| 94th | Somalia, Fed. Rep. | 90.76% | 14.7% |
| 95th | Kuwait | 90.92% | 10.9% |
| 96th | Gabon | 92.06% | 7.9% |
| 97th | Eswatini | 92.57% | 2.9% |
| 98th | Iceland | 93.05% | 22.1% |
| 99th | Northern Mariana Islands | 93.16% | 18.1% |
| 100th | Greenland | 93.37% | 11.6% |
| 101st | Panama | 93.48% | 16.6% |
| 102nd | Cuba | 93.86% | 17.3% |
| 103rd | Romania | 93.95% | 7.9% |
| 104th | Guinea | 94.17% | -18.3% |
| 105th | Finland | 94.56% | 18.5% |
| 106th | Cabo Verde | 96.99% | 25.2% |
| 107th | Timor-Leste | 97.62% | -2.2% |
| 108th | Congo, Republic of | 98.16% | 14.7% |
| 109th | Puerto Rico (US) | 98.26% | 1.6% |
| 110th | Namibia | 99.26% | 18.8% |
| 111th | Qatar | 100.21% | 8.0% |
| 112th | Morocco | 100.91% | 33.6% |
| 113th | Portugal | 101.36% | 18.0% |
| 114th | Mauritania | 102.03% | 15.5% |
| 115th | European Union | 103.71% | 13.7% |
| 116th | Armenia | 103.88% | 31.1% |
| 117th | Jordan | 104.10% | 29.6% |
| 118th | Palau | 105.20% | 29.6% |
| 119th | Oman | 105.75% | 10.2% |
| 120th | Sweden | 107.11% | 17.6% |
| 121st | Kiribati | 107.69% | 44.5% |
| 122nd | Belize | 107.84% | 8.9% |
| 123rd | Greece | 108.12% | 22.8% |
| 124th | Kosovo | 110.01% | 11.5% |
| 125th | Bosnia and Herzegovina | 110.21% | 13.9% |
| 126th | Moldova | 112.12% | 26.7% |
| 127th | Honduras | 112.70% | 9.0% |
| 128th | Georgia | 114.70% | 12.9% |
| 129th | Lebanon | 114.89% | 45.7% |
| 130th | Nicaragua | 115.45% | 8.7% |
| 131st | Tunisia | 116.10% | 24.0% |
| 132nd | Antigua and Barbuda | 117.70% | 16.5% |
| 133rd | Belarus | 120.02% | -11.8% |
| 134th | Faroe Islands | 122.86% | 18.7% |
| 135th | Poland | 123.02% | 11.0% |
| 136th | Austria | 123.58% | 11.3% |
| 137th | American Samoa | 124.68% | -8.9% |
| 138th | Croatia | 125.41% | 22.6% |
| 139th | Montenegro | 125.46% | 18.7% |
| 140th | Marshall Islands | 128.34% | 6.9% |
| 141st | Serbia | 131.91% | 17.4% |
| 142nd | Denmark | 132.00% | 17.5% |
| 143rd | Thailand | 132.86% | 13.3% |
| 144th | Kyrgyz Republic | 133.79% | 33.4% |
| 145th | Mozambique | 135.28% | 20.7% |
| 146th | Mongolia | 136.33% | 14.5% |
| 147th | Switzerland | 138.50% | 6.5% |
| 148th | Bulgaria | 138.84% | 14.5% |
| 149th | Lesotho | 142.37% | 2.3% |
| 150th | Czechia | 144.01% | 4.8% |
| 151st | Cambodia | 145.87% | -0.2% |
| 152nd | Malaysia | 146.42% | 9.2% |
| 153rd | Brunei Darussalam | 146.97% | -0.1% |
| 154th | Mauritius | 147.66% | 9.2% |
| 155th | Libya | 156.32% | -4.8% |
| 156th | Latvia | 159.89% | 16.9% |
| 157th | Aruba | 160.63% | 14.8% |
| 158th | Maldives | 162.24% | 13.8% |
| 159th | North Macedonia | 166.15% | 13.2% |
| 160th | Bahrain | 167.14% | 8.7% |
| 161st | Nauru | 167.34% | 51.0% |
| 162nd | Macao SAR, China | 170.37% | -0.6% |
| 163rd | Lithuania | 175.65% | 13.5% |
| 164th | Estonia | 175.69% | 9.5% |
| 165th | Viet Nam | 183.15% | -1.9% |
| 166th | Netherlands | 184.11% | 12.8% |
| 167th | Hungary | 185.00% | 16.2% |
| 168th | United Arab Emirates | 185.74% | 1.5% |
| 169th | Slovenia | 186.65% | 15.4% |
| 170th | Seychelles | 189.83% | 3.3% |
| 171st | Belgium | 191.18% | 7.8% |
| 172nd | Slovak Republic | 204.06% | 12.1% |
| 173rd | Virgin Islands (US) | 205.63% | 14.1% |
| 174th | Cyprus | 205.75% | 16.4% |
| 175th | Ireland | 237.76% | 2.9% |
| 176th | Malta | 245.16% | 11.4% |
| 177th | Djibouti | 302.29% | 14.7% |
| 178th | Singapore | 332.35% | 1.0% |
| 179th | San Marino | 370.44% | 8.2% |
| 180th | Hong Kong SAR, China | 384.88% | -4.4% |
| 181st | Luxembourg | 412.18% | 3.7% |
FAQ
What was Faroe Islands's trade openness in 2022?▾
Faroe Islands's trade openness in 2022 was 122.86%. This ranked 134th globally.
How did Faroe Islands's trade openness change in 2022?▾
Faroe Islands's trade openness increased by 18.7% in 2022 compared to 2021.
Which country had the highest trade openness in 2022?▾
Luxembourg had the highest trade openness in 2022 at 412.18%.
What is the trade openness of Faroe Islands in 2022?▾
The trade openness of Faroe Islands in 2022 was 122.86%. This ranked 134th globally.
How does 2022 compare to 2021 for Faroe Islands's trade openness?▾
Faroe Islands's trade openness went from 103.49% in 2021 to 122.86% in 2022, a 18.7% increase.
Related
2021
2023
All years
Full ranking 2022
Exports
Imports
Trade Balance
Current Account Balance
FDI Inflows
Peak: 2022
Lowest: 1993
Trade Openness 1990s
Trade Openness 2000s
Trade Openness 2010s
Trade Openness 2020s
Highest ever
Lowest ever
Average
vs Channel Islands
vs Macao SAR, China
vs Netherlands
vs Denmark
Global Ranking