Average tariff applied by developed countries … most-favored in Faroe Islands
Faroe Islands: Average tariff applied by developed countries … most-favored was 7.6% in 2024. ▼ Falling
Average tariff applied by developed countries, most-favored nation in Faroe Islands, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
Faroe Islands recorded 7.6% for average tariff applied by developed countries, most-favored nation in 2024.
Compared with earlier readings it is up 0.1% on the previous year and up 1.1% over ten years.
Over the whole period, average tariff applied by developed countries, most-favored nation in Faroe Islands peaked at 8.8% in 2000 and was at its lowest, 7.2%, in 2017.
Faroe Islands ranks 92nd of 236 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 17 years of available data.
Average tariff applied by developed countries … most-favored in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 8.8% | — |
| 2005 | 7.7% | -12.2% |
| 2010 | 8.0% | +4.1% |
| 2011 | 8.0% | -0.2% |
| 2012 | 7.8% | -3.1% |
| 2013 | 7.6% | -2.0% |
| 2014 | 7.5% | -2.0% |
| 2015 | 7.5% | +0.2% |
| 2016 | 7.3% | -2.6% |
| 2017 | 7.2% | -0.7% |
| 2018 | 7.6% | +4.4% |
| 2019 | 7.8% | +3.2% |
| 2020 | 7.9% | +0.6% |
| 2021 | 7.7% | -2.3% |
| 2022 | 7.7% | -0.1% |
| 2023 | 7.5% | -1.6% |
| 2024 | 7.6% | +0.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 7.6% is below the median for high income countries, which is 9.1%, 83% of the median. (75 countries reporting)
- Faroe Islands's 7.6% is below the median for Europe & Central Asia, which is 9.0%, 84% of the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.3% | 7.7% | 8.8% | 2 |
| 2010s | 7.6% | 7.2% | 8.0% | 10 |
| 2020s | 7.7% | 7.5% | 7.9% | 5 |
Countries ranked near Faroe Islands
- 89 Ecuador 7.6% compare
- 90 Türkiye 7.6% compare
- 90 Turkey 7.6% compare
- 93 Venezuela (Bolivarian Republic of) 7.5% compare
- 94 Liechtenstein 7.5% compare
- 95 Saint Vincent and the Grenadines 7.5% compare
More development goals data for Faroe Islands
- Red List Index 0.8286 (2025)
- Number of transboundary breeds 1 (2025)
- Number of transboundary breeds (not extinct) 1 (2025)
- Number of transboundary breeds with unknown risk status 1 (2025)
- Number of local breeds with unknown risk status 0 (2025)
- Number of local breeds (not extinct) 2 (2025)
- Number of local breeds kept in the country 2 (2025)
- DEC alternative conversion factor 6.89 (2024)
- Change in maximum river flow 3.5% (2024)
- Change in minimum river flow -18.8% (2024)
Frequently asked questions
- What is average tariff applied by developed countries, most-favored nation in Faroe Islands?
- Average tariff applied by developed countries, most-favored nation in Faroe Islands was 7.6% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest average tariff applied by developed countries, most-favored nation recorded in Faroe Islands?
- The highest recorded value was 8.8% in 2000.
- What is the lowest average tariff applied by developed countries, most-favored nation recorded in Faroe Islands?
- The lowest recorded value was 7.2% in 2017.
- How does Faroe Islands rank for average tariff applied by developed countries, most-favored nation?
- Faroe Islands ranks 92nd out of 236 countries with data for 2024.
- Is average tariff applied by developed countries, most-favored nation rising or falling in Faroe Islands?
- Over the last ten years it is up 1.1%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Average tariff applied by developed countries, most-favored nation status, by type of product (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under UN SDG Global Database (open, attribution requested).