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 6.3% in 2011. ▲ Rising
Money sent or brought back by migrants as a share of GDP in Faroe Islands, 1998–2011
Source: World Bank staff estimates based on IMF and OECD data (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for money sent or brought back by migrants as a share of gdp in Faroe Islands is 6.3%, 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 6.3% in 2011 and was at its lowest, 2.9%, 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 | % of GDP | Change |
|---|---|---|
| 1998 | 4.4% | — |
| 1999 | 4.4% | +1.1% |
| 2000 | 4.0% | -9.3% |
| 2001 | 3.4% | -16.4% |
| 2002 | 3.1% | -7.4% |
| 2003 | 3.0% | -5.2% |
| 2004 | 2.9% | -3.4% |
| 2005 | 4.6% | +59.9% |
| 2006 | 4.4% | -3.3% |
| 2007 | 4.7% | +5.8% |
| 2008 | 5.5% | +17.5% |
| 2009 | 6.0% | +10.2% |
| 2010 | 6.3% | +3.9% |
| 2011 | 6.3% | +0.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.4% | 4.4% | 4.4% | 2 |
| 2000s | 4.1% | 2.9% | 6.0% | 10 |
| 2010s | 6.3% | 6.3% | 6.3% | 2 |
Countries ranked near Faroe Islands
More population data for Faroe Islands
- Un population 2024 vs 2022, annual growth rate 0.1096 % change on previous year (2100)
- Population long run 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 regions with projections, annual growth rate -0.2397 % change on previous year (2100)
- Population growth rate, by level of development -0.2% (2100)
- Number of children under 5, by world region 2,935 people (2100)
- Population density 46.18 people per km² (2100)
- World population growth -0.2% (2100)
- Projected population under age 5, annual growth rate -0.4747 % change on previous year (2100)
- Urban and rural population 2050, per capita 0.6157 units per person (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 6.3% in 2011, according to World Bank staff estimates based on IMF and OECD data (2026) – processed by 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 6.3% 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 2.9% 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 World Bank staff estimates based on IMF and OECD data (2026) – processed by 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).
About this data
Money sent or brought back by migrants refers to remittances a country has received in this year.