CFI Data on Faroe Islands
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We offer a data-driven country report for Faroe Islands that explores inter alia population, international trading relationships, energy consumption, GDP growth, current account balances, and R&D investment. Additionally, CFI quotes from the Big Mac Index (courtesy of The Economist) which gives a rough idea of purchasing power parity. Other authoritative sources include The United Nations Conference on Trade and Development, The World Bank, and The International Money Fund. Visit us regularly for updates and new sources of key economic information on Faroe Islands.
Trade agreement information for Faroe Islands
Does Faroe Islands belong to any economic unions or free trade areas?
No
What bilateral trade deals are there between Faroe Islands and other countries and economic unions?
Faroe Islands - Norway free trade agreement (from 01/07/1993)
Faroe Islands - Switzerland free trade agreement (from 01/03/1995)
EU - Faroe Islands Agreement (from 01/01/1997)
Iceland - Faroe Islands free trade agreement (from 01/11/2006)
UK - Faroe Islands (from 01/01/2021)
Implementation dates might vary according to the date of the United Kindom's exit from the European UnionTrade between Faroe Islands and the United Kingdom
Source: UK Office for National Statistics, October 2019.
Contains public sector information licensed under the Open Government Licence v3.0.
Its population in 2018 was 49,489 [
In 2015, 7.51% of its total energy 
In , its GDP grew by 0.00% [
In it had a positive Current