Imports of goods
 18. Oct 2023
Import value falls 7%

The Faroes imported goods worth DKK 7.8 billion in the first eight months of this year.

The DKK 7.8 million in import value in the first eight months of 2023 is 7% down on the same period in 2022. This drop is primarily down to a lower import value of fuel, vessels and aircraft.

Oil prices have gone down in the past six months, and this is reflected in the total import value. Fuel imports totalled DKK 1,229 million in the first eight months of 2023. This is DKK 344 million (21.9%) less than in the same period in 2022.

The biggest increase in imports was in ‘raw materials for fish productions’ (predominantly fresh cod and mackerel). In this category, imports increased by DKK 192 million (38.3%).

Imports also increased significantly in the aqua and agriculture category (mostly feeding stuff for use in aquaculture), with the import value rising by DKK 106 million, or 20.8%.

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