Imports of goods
19. Jan 2024
Import value, excluding ships and aircraft, falls 4%

The Faroes imported goods worth DKK 10.9 billion in the first 11 months of 2023.

The import value in the first 11 months of 2023 is 4% down on the same period in 2022. This drop is primarily due to a lower import value of fuel and the ‘for other industries’ category.

The price of oil is lower than a year ago, but gas oil and fuel oil prices are slightly higher now than in the summer of 2023. Fuel imports totalled DKK 1,655.2 million in the first 11 months of 2023. This is DKK 463.6 million (21.9%) less than in the same period in 2022.

The biggest increase in import value was in ‘raw materials for fish productions’ (predominantly fresh fish and fish for reduction). In this category, imports increased by DKK 174.5 million (23.2%) year-on-year.

Imports also increased significantly in the aqua and agriculture category (mostly feeding stuff for use in aquaculture), with the import value rising by DKK 140.2 million, or 17.9%.

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