Average tariff applied by developed countries … preferential in Faroe Islands
Faroe Islands: Average tariff applied by developed countries … preferential was 7.1% in 2024. ▼ Falling
Average tariff applied by developed countries, preferential status in Faroe Islands, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
In 2024, average tariff applied by developed countries, preferential status in Faroe Islands stood at 7.1%.
That represents a change of up 0.1% on the previous year and up 0.4% over ten years.
Over the whole period, average tariff applied by developed countries, preferential status in Faroe Islands peaked at 8.8% in 2000 and was at its lowest, 6.8%, in 2017.
Faroe Islands ranks 47th of 236 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 17 years of available data.
Average tariff applied by developed countries … preferential in Faroe Islands, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 8.8% | — |
| 2005 | 7.7% | -12.2% |
| 2010 | 7.6% | -1.2% |
| 2011 | 7.6% | -0.2% |
| 2012 | 7.4% | -3.2% |
| 2013 | 7.2% | -2.1% |
| 2014 | 7.1% | -2.1% |
| 2015 | 7.1% | +0.2% |
| 2016 | 6.9% | -2.7% |
| 2017 | 6.8% | -0.8% |
| 2018 | 7.2% | +4.7% |
| 2019 | 7.4% | +3.4% |
| 2020 | 7.4% | -0.1% |
| 2021 | 7.2% | -2.5% |
| 2022 | 7.2% | -0.1% |
| 2023 | 7.1% | -1.7% |
| 2024 | 7.1% | +0.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 7.1% is above the median for high income countries, which is 5.3%, 1.3× the median. (75 countries reporting)
- Faroe Islands's 7.1% is above the median for Europe & Central Asia, which is 4.9%, 1.5× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.3% | 7.7% | 8.8% | 2 |
| 2010s | 7.2% | 6.8% | 7.6% | 10 |
| 2020s | 7.2% | 7.1% | 7.4% | 5 |
Countries ranked near Faroe Islands
- 44 Malawi 7.5% compare
- 45 Lithuania 7.3% compare
- 46 Lebanon 7.2% compare
- 48 Venezuela (Bolivarian Republic of) 7.0% compare
- 49 Cook Islands 7.0% compare
- 50 Liechtenstein 7.0% 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, preferential status in Faroe Islands?
- Average tariff applied by developed countries, preferential status in Faroe Islands was 7.1% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest average tariff applied by developed countries, preferential status recorded in Faroe Islands?
- The highest recorded value was 8.8% in 2000.
- What is the lowest average tariff applied by developed countries, preferential status recorded in Faroe Islands?
- The lowest recorded value was 6.8% in 2017.
- How does Faroe Islands rank for average tariff applied by developed countries, preferential status?
- Faroe Islands ranks 47th out of 236 countries with data for 2024.
- Is average tariff applied by developed countries, preferential status rising or falling in Faroe Islands?
- Over the last ten years it is up 0.4%. 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, preferential 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).