Imports of goods
20. Dec 2021
Considerable growth in imports
The total value of imports in the first 10 months of this year was DKK 7.6 billion, which is the highest figure ever.
Total imports in 2021 up to and including October amounted to DKK 7.6 billion, a year-on-year increase of 14.4%. Excluding ships and aircraft from the figures, the import value increased by 15.9%.
The recent spike in oil prices is clearly reflected in the import value. Despite slightly lower imports in volume terms, the Faroe Islands spent 43% more on fuel in the first 10 months of this year compared to the same period last year.
Furthermore, the two groups 'Industrial machinery and equipment' and 'Raw materials for fish productions' saw an increase of 40% and 42%, respectively.