Faroe Islands—Current Account Balance (% of GDP)
Historical Data
| Year | Value | Change |
|---|---|---|
| 2011 | 7.8% | +25.3% |
| 2010 | 6.2% | +676.7% |
| 2009 | -1.1% | +12.6% |
| 2008 | -1.2% | +64.3% |
| 2007 | -3.4% | -427.2% |
| 2006 | 1.1% | -40.6% |
| 2005 | 1.8% | -76.4% |
| 2004 | 7.5% | +1821.8% |
| 2003 | -0.4% | -104.4% |
| 2002 | 9.9% | -21.7% |
| 2001 | 12.6% | +35.6% |
| 2000 | 9.3% |
Top Countries — Current Account Balance (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Macao SAR, China | 36.3% | 2024 |
| 2 | Marshall Islands | 29.2% | 2021 |
| 3 | Kuwait | 29.1% | 2024 |
| 4 | San Marino | 22.0% | 2023 |
| 5 | Singapore | 17.5% | 2024 |
| 6 | Ireland | 17.4% | 2024 |
| 7 | Qatar | 17.3% | 2024 |
| 8 | Andorra | 16.1% | 2024 |
| 9 | Bermuda | 15.4% | 2023 |
| 10 | Papua New Guinea | 15.0% | 2024 |
About This Indicator
Definition
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Methodology
Data compiled by Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD).