Imports of goods
19. Dec 2023
Import value falls 4%

The Faroes imported goods worth DKK 10.1 billion in the first ten months of this year.

The import value in the first ten 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 ‘machinery and other capital equipment’ 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 1,589.6 million in the first ten months of 2023. This is DKK 461.8 million (22.5%) 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 150.5 million (23.9%).

Imports also increased significantly in the aqua and agriculture category (mostly feeding stuff for use in aquaculture), with the import value rising by DKK 159.3 million, or 23.3%.

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