Faroe Islands - Merchandise imports from high-income economies (% of total merchandise imports)

Merchandise imports from high-income economies (% of total merchandise imports) in Faroe Islands was 85.60 as of 2020. Its highest value over the past 58 years was 100.00 in 1963, while its lowest value was 68.76 in 2015.

Definition: Merchandise imports from high-income economies are the sum of merchandise imports by the reporting economy from high-income economies according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.

Source: World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.

See also:

Year Value
1962 100.00
1963 100.00
1964 95.24
1965 99.62
1966 99.65
1967 99.62
1968 99.31
1969 98.72
1970 99.54
1971 98.57
1972 97.70
1973 97.28
1974 99.33
1975 99.10
1976 99.72
1977 99.69
1978 99.54
1979 99.69
1980 99.79
1981 99.82
1982 99.89
1983 99.85
1984 99.65
1985 98.02
1986 97.84
1987 97.24
1988 95.73
1989 96.80
1990 96.89
1991 96.50
1992 93.90
1993 92.48
1994 92.30
1995 98.42
1996 98.64
1997 98.46
1998 98.84
1999 98.02
2000 88.38
2001 94.31
2002 92.57
2003 95.03
2004 93.45
2005 88.81
2006 91.52
2007 87.23
2008 91.17
2009 90.52
2010 81.89
2011 83.48
2012 85.30
2013 84.56
2014 84.31
2015 68.76
2016 79.80
2017 83.03
2018 84.19
2019 84.94
2020 85.60

Development Relevance: Low- and middle-income economies are an increasingly important part of the global trading system. Trade between high-income economies and low- and middle-income economies has grown faster than trade between high-income economies. This increased trade benefits both producers and consumers in developing and high-income economies.

Limitations and Exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports