Imports of goods
18. Oct 2021
Imports at an all-time high
The total value of imports in the first eight months of this year was DKK 5.7 billion, which is the highest figure ever.
Total imports in 2021 up to and including August amounted to DKK 5.7 billion, a year-on-year increase of 8.4%. Excluding ships and aircraft from the figures, the import value increased by 11%.
The recent spike in oil prices is clearly reflected in the import value. Despite slightly lower imports in volume terms, the Faroe Islands spent 30% more on fuel in the first eight months of this year compared to the same period last year.
The industrial machinery and equipment group saw the biggest increase, going up by DKK 194 million (39%) compared to the first eight months of 2020.
Imports of goods for household consumption have also seen a big increase, going up by 8%.
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