Money sent or brought back by migrants as a share of gdp in Faroe Islands
Faroe Islands: Money sent or brought back by migrants as a share of gdp was 6.32 in 2011. ▲ Rising
Money sent or brought back by migrants as a share of gdp in Faroe Islands, 1998–2011
Source: Our World in Data.
Analysis
The most recent figure for money sent or brought back by migrants as a share of gdp in Faroe Islands is 6.32, measured in 2011. That is the highest value across all 14 years on record.
Compared with earlier readings it is up 0.7% on the previous year and up 87.9% over ten years.
Over the whole period, money sent or brought back by migrants as a share of gdp in Faroe Islands peaked at 6.32 in 2011 and was at its lowest, 2.85, in 2004.
That places Faroe Islands 53rd out of 194 countries with data for 2011, putting it in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
Money sent or brought back by migrants as a share of gdp in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 1998 | 4.39 | — |
| 1999 | 4.44 | +1.1% |
| 2000 | 4.03 | -9.3% |
| 2001 | 3.36 | -16.4% |
| 2002 | 3.12 | -7.4% |
| 2003 | 2.95 | -5.2% |
| 2004 | 2.85 | -3.4% |
| 2005 | 4.56 | +59.9% |
| 2006 | 4.41 | -3.3% |
| 2007 | 4.67 | +5.8% |
| 2008 | 5.49 | +17.5% |
| 2009 | 6.04 | +10.2% |
| 2010 | 6.28 | +3.9% |
| 2011 | 6.32 | +0.7% |
Faroe Islands compared with similar countries
- Faroe Islands's 6.32 is above the median for high income countries, which is 0.7013, 9.0× the median. (69 countries reporting)
- Faroe Islands's 6.32 is above the median for Europe & Central Asia, which is 1.4, 4.5× the median. (50 countries reporting)
Biggest year-on-year movements
Years where Money sent or brought back by migrants as a share of gdp in Faroe Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +59.9% | 2.85 | 4.56 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.41 | 4.39 | 4.44 | 2 |
| 2000s | 4.15 | 2.85 | 6.04 | 10 |
| 2010s | 6.3 | 6.28 | 6.32 | 2 |
Countries ranked near Faroe Islands
More population data for Faroe Islands
- Population regions with projections, annual growth rate -0.2397 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -1.07 % change on previous year (2050)
- Population long run with projections, annual growth rate -0.2397 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate 0.1096 % change on previous year (2100)
- Projected population under age 5, annual growth rate -0.4747 % change on previous year (2100)
- Population growth rate -0.247 (2100)
- Population density 46.18 (2100)
- Projected population under age 5 2,935 (2100)
- Population growth rate by level of development -0.247 (2100)
- Urbanization vs gdp, annual growth rate 0.5838 % change on previous year (2025)
Frequently asked questions
- What is money sent or brought back by migrants as a share of gdp in Faroe Islands?
- Money sent or brought back by migrants as a share of gdp in Faroe Islands was 6.32 in 2011, according to Our World in Data.
- What is the highest money sent or brought back by migrants as a share of gdp recorded in Faroe Islands?
- The highest recorded value was 6.32 in 2011.
- What is the lowest money sent or brought back by migrants as a share of gdp recorded in Faroe Islands?
- The lowest recorded value was 2.85 in 2004.
- How does Faroe Islands rank for money sent or brought back by migrants as a share of gdp?
- Faroe Islands ranks 53rd out of 194 countries with data for 2011.
- Is money sent or brought back by migrants as a share of gdp rising or falling in Faroe Islands?
- Over the last ten years it is up 87.9%. The long-run trend across the full record is rising.
- Where does this Faroe Islands data come from?
- The figures come from Our World in Data, published as part of Money sent or brought back by migrants as a share of gdp. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (Our World in Data).