Guide to Faroe Islands Introduction Background: The population of the Faroe Islands is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. A high degree of self-government was attained in 1948.
Geography Location: Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway
Geographic coordinates: 62 00 N, 7 00 W
Map references: Europe
Area: total
Area - comparative: eight times the size of Washington, DC
Land boundaries: 0 km
Coastline: 1,117 km
Maritime claims: territorial sea
Climate: mild winters, cool summers; usually overcast; foggy, windy
Terrain: rugged, rocky, some low peaks; cliffs along most of coast
Elevation extremes: lowest point
Natural resources: fish, whales, hydropower, possible oil and gas
Land use: arable land
Irrigated land: 0 sq km (1998 est.)
Natural hazards: NA
Environment - current issues: NA
Geography - note: archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands
People Population: 46,962 (July 2005 est.)
Age structure: 0-14 years
Median age: total
Population growth rate: 0.62% (2005 est.)
Birth rate: 13.97 births/1,000 population (2005 est.)
Death rate: 8.69 deaths/1,000 population (2005 est.)
Net migration rate: 0.94 migrant(s)/1,000 population (2005 est.)
Sex ratio: at birth
Infant mortality rate: total
Life expectancy at birth: total population
Total fertility rate: 2.2 children born/woman (2005 est.)
HIV/AIDS - adult prevalence rate: NA%
HIV/AIDS - people living with HIV/AIDS: NA
HIV/AIDS - deaths: NA
Nationality: noun
Ethnic groups: Scandinavian
Religions: Evangelical Lutheran
Languages: Faroese (derived from Old Norse), Danish
Literacy: definition
Government Country name: conventional long form
Dependency status: part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948
Government type: NA
Capital: Torshavn
Administrative divisions: none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark); there are no first-order administrative divisions as defined by the US Government, but there are 49 municipalities
Independence: none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
National holiday: Olaifest (Olavasoka), 29 July
Constitution: 5 June 1953 (Danish constitution)
Legal system: Danish
Suffrage: 18 years of age; universal
Executive branch: chief of state
Legislative branch: unicameral Faroese Parliament or Logting (32 seats; members are elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms) elections
Judicial branch: none
Political parties and leaders: Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Anfinn KALLSBERG]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Kaj Oeo JOHANNESEN]
Political pressure groups and leaders: NA
International organization participation: IMO (associate), NC, NIB, UPU
Diplomatic representation in the US: none (self-governing overseas administrative division of Denmark)
Diplomatic representation from the US: none (self-governing overseas administrative division of Denmark)
Flag description: white with a red cross outlined in blue extending to the edges of the flag; the vertical part of the cross is shifted toward the hoist side in the style of the Dannebrog (Danish flag)
Economy Economy - overview: The Faroese economy has had a strong performance since 1994, mostly as a result of increasing fish landings and high and stable export prices. Unemployment is minimal and there are signs of labor shortages in several sectors. The positive economic development has helped the Faroese Home Rule Government produce increasing budget surpluses, which in turn has helped to reduce the large public debt, most of it owed to Denmark. However, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the present fishing efforts appear in excess of what is a sustainable level of fishing in the long term. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may eventually lay the basis for a more diversified economy and thus lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.
GDP (purchasing power parity): $1 billion (2001 est.)
GDP - real growth rate: 10% (2001 est.)
GDP - per capita: purchasing power parity - $22,000 (2001 est.)
GDP - composition by sector: agriculture
Labor force: 24,250 (October 2000)
Labor force - by occupation: fishing, fish processing, and manufacturing 33%, construction and private services 33%, public services 34%
Unemployment rate: 1% (October 2000)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%
Inflation rate (consumer prices): 5.1% (1999)
Budget: revenues
Agriculture - products: milk, potatoes, vegetables; sheep; salmon, other fish
Industries: fishing, fish processing, small ship repair and refurbishment, handicrafts
Industrial production growth rate: 8% (1999 est.)
Electricity - production: 220 million kWh (2002)
Electricity - production by source: fossil fuel
Electricity - consumption: 204.6 million kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 4,500 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Exports: $408 million f.o.b. (2002)
Exports - commodities: fish and fish products 94%, stamps, ships (1999)
Exports - partners: Denmark 33.5%, UK 29.7%, Norway 8.4%, Nigeria 7.2% (2004)
Imports: $466 million c.i.f. (2002)
Imports - commodities: machinery and transport equipment 29%, consumer goods 36%, raw materials and semi-manufactures 32%, fuels, fish and salt (1999)
Imports - partners: Denmark 52.8%, Norway 18.3%, Iceland 4.4%, Sweden 4.2% (2004)
Debt - external: $64 million (1999)
Economic aid - recipient: $135 million (annual subsidy from Denmark) (1998)
Currency (code): Danish krone (DKK)
Currency code: DKK
Exchange rates: Danish kroner per US dollar - 5.9911 (2004), 6.5877 (2003), 7.8947 (2002), 8.3228 (2001), 8.0831 (2000)
Fiscal year: calendar year
Communications Telephones - main lines in use: 23,000 (2002)
Telephones - mobile cellular: 30,700 (2002)
Telephone system: general assessment
Radio broadcast stations: AM 1, FM 13, shortwave 0 (1998)
Radios: 26,000 (1997)
Television broadcast stations: 3 (plus 43 low-power repeaters) (September 1995)
Televisions: 15,000 (1997)
Internet country code: .fo
Internet Service Providers (ISPs): 2 (2000)
Internet users: 25,000 (2002)
Transportation Highways: total
Ports and harbors: Torshavn
Merchant marine: total
Airports: 1 (2004 est.)
Airports - with paved runways: total
Military Military branches: no regular military forces
Military expenditures - dollar figure: $NA
Military expenditures - percent of GDP: NA
Military - note: defense is the responsibility of Denmark
Transnational Issues Disputes - international: because anticipated offshore hydrocarbon resources have not been realized, earlier Faroese proposals for full independence have been deferred; Iceland disputes the Faroe Islands' fisheries median line boundary; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Last updated: 20 October, 2005
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