Faroe Islands

Branches

no organized native military forces; only a small Police Force and Coast Guard are maintained

Defense expenditures

$NA, NA% of GDP

Defense note

defense is the responsibility of Denmark

Radio broadcast stations

AM 1, FM 3 (repeaters 10), shortwave 0

Radios

24,000 (1992 est.)

Telephone system

good international communications; fair domestic facilities domestic: NA international: 3 coaxial submarine cables

Telephones

27,900 (1984 est.)

Television broadcast stations

3 (repeaters 29)

Televisions

14,000 (1992 est.) Defense

Agriculture

potatoes, vegetables; sheep; annual fish catch about 360,000 metric tons

Budget

revenues: $407.2 million expenditures: $482.7 million, including capital expenditures of $NA (1993 est.)

Currency

1 Danish krone (DKr) = 100 oere

Economic aid

recipient: ODA, $NA note: receives an annual subsidy from Denmark of about $130 million

Economic overview

The Faroese economy is experiencing a moderate upturn after several years of decline brought on by over-fishing and declining fish prices, large budget deficits by the Faroese Home Rule Government (FHRG), plummeting property values, and a bail-out merger of the two largest Faroese banks. Near-term forecasts suggest continued economic recovery, and oil finds close to the Faroese area may lay the basis for an eventual economic rebound. Aided by a substantial annual subsidy from Denmark, the Faroese have enjoyed a standard of living comparable to the Danes and other Scandinavians.

Electricity

capacity: 90,000 kW production: 200 million kWh consumption per capita: 3,953 kWh (1992)

Exchange rates

Danish kroner (DKr) per US$1 - 5.652 (January 1996), 5.602 (1995), 6.361 (1994), 6.484 (1993), 6.036 (1992), 6.396 (1991)

Exports

$345.3 million (f.o.b., 1993 est.) commodities: fish and fish products 88%, animal feedstuffs, transport equipment (ships) (1989) partners: Denmark 20%, Germany 18.3%, UK 14.2%, France 11.2%, Spain 7.9%, US 4.5%

External debt

$1.2 billion (1993 est.)

Fiscal year

1 April - 31 March

GDP

purchasing power parity - $733 million (1995 est.)

GDP composition by sector

agriculture: NA% industry: NA% services: NA%

GDP per capita

$15,000 (1995 est.)

GDP real growth rate

NA%

Imports

$234.4 million (c.i.f., 1993 est.) commodities: machinery and transport equipment 24.4%, manufactures 24%, food and livestock 19%, fuels 12%, chemicals 6.5% partners: Denmark 43.8%, Norway 19.8%, Sweden 4.9%, Germany 4.2%, US 1.3%

Industrial production growth rate

NA%

Industries

fishing, shipbuilding, handicrafts

Inflation rate (consumer prices)

6.8% (1993 est.)

Labor force

17,585 by occupation: largely engaged in fishing, manufacturing, transportation, and commerce

Unemployment rate

23% (1993)

Area

total area: 1,400 sq km land area: 1,400 sq km comparative area: eight times the size of Washington, DC

Climate

mild winters, cool summers; usually overcast; foggy, windy

Coastline

764 km

Environment

current issues: NA natural hazards: NA international agreements: NA

Geographic coordinates

62 00 N, 7 00 W

Geographic note

archipelago of 18 inhabited islands and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands

International disputes

none

Irrigated land

NA sq km

Land boundaries

0 km

Land use

arable land: 2% permanent crops: 0% meadows and pastures: 0% forest and woodland: 0% other: 98%

Location

Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway

Map references

Europe

Maritime claims

exclusive fishing zone: 200 nm territorial sea: 3 nm

Natural resources

fish

Terrain

rugged, rocky, some low peaks; cliffs along most of coast lowest point: Atlantic Ocean 0 m highest point: Slaettaratindur 882 m

Administrative divisions

none (self-governing overseas administrative division of Denmark)

Capital

Torshavn

Constitution

5 June 1953 (Danish constitution)

Danish Parliament

elections last held on 21 September 1994 (next to be held by September 1998); results - percent of vote by party NA; seats - (2 total) Liberals 2

Data code

FO

Diplomatic representation in US

none (self-governing overseas administrative division of Denmark)

Executive branch

chief of state: Queen MARGRETHE II (of Denmark since 14 January 1972), who is a constitutional monarch, is represented by High Commissioner Bent KLINTE, chief administrative officer (since NA) head of government: Prime Minister Edmund JOENSEN (since 15 September 1994) was elected by the Logting cabinet: Landsstyri was elected by the Logting

Faroese Parliament (Logting)

elections last held 8 July 1994 (next to be held by July 1998); results - percent of vote by party NA; seats - (32 total) Liberal Party 8, People's Party 6, Social Democrats 5, Republicans 4, Workers' Party 3, Christian Democrats 2, Center Party 2, Home Rule Party 2

Flag

white with a red cross outlined in blue that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)

Independence

none (part of the Danish realm; self-governing overseas administrative division of Denmark)

International organization participation

none

Judicial branch

none

Legal system

Danish

Legislative branch

unicameral

Name of country

conventional long form: none conventional short form: Faroe Islands local long form: none local short form: Foroyar

National holiday

Birthday of the Queen, 16 April (1940)

Political parties and leaders

Social Democratic Party, Marita PETERSEN; Workers Front, Oli JACOBSEN; Home Rule Party, Helena Dam A NEYSTABO; The "Coalition Party," Edmund JOENSEN; Republican Party, Finnbogi ISAKSON; Centrist Party, Tordur NICLASEN; Christian People's Party, Niels Pauli DANIELSEN; People's Party, Arnfinn KALLSBERG; Liberal Party, Jorgen ESTRUP; Christian Democratic Party

Suffrage

18 years of age; universal

Type of government

part of the Danish realm; self-governing overseas administrative division of Denmark

US diplomatic representation

none (self-governing overseas administrative division of Denmark)

Age structure

0-14 years: 24% (male 5,461; female 5,280) 15-64 years: 62% (male 14,488; female 12,617) 65 years and over: 14% (male 2,661; female 3,350) (July 1996 est.)

Birth rate

13.91 births/1,000 population (1996 est.)

Death rate

8.69 deaths/1,000 population (1996 est.)

Ethnic divisions

Scandinavian

Infant mortality rate

7.2 deaths/1,000 live births (1996 est.)

Languages

Faroese (derived from Old Norse), Danish

Life expectancy at birth

total population: 77.83 years male: 74.75 years female: 80.88 years (1996 est.)

Literacy

NA

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Net migration rate

-23.19 migrant(s)/1,000 population (1996 est.)

Population

43,857 (July 1996 est.)

Population growth rate

-1.8% (1996 est.)

Religions

Evangelical Lutheran

Sex ratio

at birth: 0.99 male(s)/female under 15 years: 1.03 male(s)/female 15-64 years: 1.15 male(s)/female 65 years and over: 0.79 male(s)/female all ages: 1.06 male(s)/female (1996 est.)

Total fertility rate

2.38 children born/woman (1996 est.)

Airports

total: 1 with paved runways 914 to 1 523 m: 1 (1995 est.)

Highways

total: 443 km paved: NA km unpaved: NA km

Merchant marine

total: 7 ships (1,000 GRT or over) totaling 19,879 GRT/18,444 DWT ships by type: cargo 5, roll-on/roll-off cargo 1, short-sea passenger 1 (1995 est.)

Ports

Klaksvick, Torshavn, Tvoroyri

Railways

0 km