Faroe Islands

Internet country code

.fo

Internet users

25,000 (2002)

Radio broadcast stations

AM 1, FM 13, shortwave 0 (1998)

Telephone system

general assessment: good international communications; good domestic facilities domestic: digitalization was completed in 1998; both NMT (analog) and GSM (digital) mobile telephone systems are installed international: country code - 298; satellite earth stations - 1 Orion; 1 fiber-optic submarine cable to the Shetland Islands, linking the Faroe Islands with Denmark and Iceland; fiber-optic submarine cable connection to Canada-Europe cable

Telephones - main lines in use

23,000 (2002)

Telephones - mobile cellular

30,700 (2002)

Television broadcast stations

3 (plus 43 low-power repeaters) (September 1995)

Agriculture - products

milk, potatoes, vegetables; sheep; salmon, other fish

Budget

revenues: $488 million expenditures: $484 million, including capital expenditures of $21 million (1999)

Currency

Danish krone (DKK)

Currency code

DKK

Debt - external

$64 million (1999)

Economic aid - recipient

$135 million (annual subsidy from Denmark) (1998)

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 falling 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 help 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.

Electricity - consumption

149.1 million kWh (2001)

Electricity - exports

0 kWh (2001)

Electricity - imports

0 kWh (2001)

Electricity - production

160.4 million kWh (2001)

Exchange rates

Danish kroner per US dollar - 6.5877 (2003), 7.89 (2002), 8.323 (2001), 8.083 (2000), 6.976 (1999)

Exports

$408 million f.o.b. (2002)

Exports - commodities

fish and fish products 94%, stamps, ships (1999)

Exports - partners

Denmark 36.7%, UK 32.1%, Netherlands 6.1%, Nigeria 5.6%, Norway 5.4% (2003)

Fiscal year

calendar year

GDP

purchasing power parity - $1 billion (2001 est.)

GDP - composition by sector

agriculture: 27% industry: 11% services: 62% (1999)

GDP - per capita

purchasing power parity - $22,000 (2001 est.)

GDP - real growth rate

10% (2001 est.)

Household income or consumption by percentage share

lowest 10%: NA highest 10%: NA

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 52.7%, Norway 22.5%, Iceland 4.7%, Germany 4.2%, UK 4% (2003)

Industrial production growth rate

8% (1999 est.)

Industries

fishing, fish processing, shipbuilding, construction, handicrafts

Inflation rate (consumer prices)

5.1% (1999)

Labor force

24,250 (October 2000)

Labor force - by occupation

fishing, fish processing, and manufacturing 33%, construction and private services 33%, public services 34%

Oil - consumption

4,500 bbl/day (2001 est.)

Oil - exports

NA (2001)

Oil - imports

NA (2001)

Oil - production

0 bbl/day (2001 est.)

Population below poverty line

NA

Unemployment rate

1% (October 2000)

Area

total: 1,399 sq km land: 1,399 sq km water: 0 sq km (some lakes and streams)

Area - comparative

eight times the size of Washington, DC

Climate

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

Coastline

1,117 km

Elevation extremes

lowest point: Atlantic Ocean 0 m highest point: Slaettaratindur 882 m

Environment - current issues

NA

Geographic coordinates

62 00 N, 7 00 W

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

Irrigated land

0 sq km (1998 est.)

Land boundaries

0 km

Land use

arable land: 2.14% permanent crops: 0% other: 97.86% (2001)

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

territorial sea: 3 nm continental shelf: 200 nm or agreed boundaries or median line exclusive fishing zone: 200 nm or agreed boundaries or median line

Natural hazards

NA

Natural resources

fish, whales, hydropower, possible oil and gas

Terrain

rugged, rocky, some low peaks; cliffs along most of coast

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

Capital

Torshavn

Constitution

5 June 1953 (Danish constitution)

Country name

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

Dependency status

part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948

Diplomatic representation from the US

none (self-governing overseas administrative division of Denmark)

Diplomatic representation in the US

none (self-governing overseas administrative division of Denmark)

Executive branch

chief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Birgit KLEIS, chief administrative officer (since 1 November 2001) head of government: Prime Minister Joannes EIDESGAARD (since 3 February 2004) cabinet: Landsstyri appointed by the prime minister elections: the monarch is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually elected prime minister by the Faroese Parliament; election last held 20 January 2004 (next to be held no later than January 2008) election results: Joannes EIDESGAARD elected prime minister; percent of parliamentary vote - NA% note: coalition of Social Democrats, Union Party, and People's Party

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)

Government type

NA

Independence

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

International organization participation

IMO (associate), NC, NIB, UPU

Judicial branch

none

Legal system

Danish

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: last held 20 January 2004 (next to be held no later than January 2008) election results: percent of vote by party - Union Party 23.7%, Social Democrats 21.8%, Republican Party 21.7%, People's Party 20.6%, Center Party 5.2%, Independence Party 4.6%; seats by party - Union Party 7, Social Democrats 7, Republican Party 8, People's Party 7, Center Party 2, Independence Party 1 note: election of 2 seats to the Danish Parliament was last held on 20 November 2001 (next to be held 8 February 2005); results - percent of vote by party - NA; seats by party - Republican Party 1, Union Party 1

National holiday

Olaifest, 29 July

Political parties and leaders

Center Party [Jenis A. RANA]; Independence Party [Helena Dam a NEYSTABO]; People's Party [Anfinn KALLSBERG]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Lisbeth PETERSEN]

Political pressure groups and leaders

NA

Suffrage

18 years of age; universal

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.

Military - note

defense is the responsibility of Denmark

Military branches

no regular military forces

Military expenditures - dollar figure

NA

Military expenditures - percent of GDP

NA

Age structure

0-14 years: 21.6% (male 5,056; female 5,041) 15-64 years: 64.6% (male 15,975; female 14,187) 65 years and over: 13.7% (male 2,877; female 3,526) (2004 est.)

Birth rate

13.89 births/1,000 population (2004 est.)

Death rate

8.68 deaths/1,000 population (2004 est.)

Ethnic groups

Scandinavian

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Infant mortality rate

total: 6.38 deaths/1,000 live births male: 7.72 deaths/1,000 live births female: 5.03 deaths/1,000 live births (2004 est.)

Languages

Faroese (derived from Old Norse), Danish

Life expectancy at birth

total population: 79.05 years male: 75.6 years female: 82.51 years (2004 est.)

Literacy

definition: NA total population: NA male: NA female: NA note: probably the same as Denmark proper

Median age

total: 35.1 years male: 34.6 years female: 35.8 years (2004 est.)

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Net migration rate

1.41 migrant(s)/1,000 population (2004 est.)

Population

46,662 (July 2004 est.)

Population growth rate

0.66% (2004 est.)

Religions

Evangelical Lutheran

Sex ratio

at birth: 1 male(s)/female under 15 years: 1 male(s)/female 15-64 years: 1.13 male(s)/female 65 years and over: 0.82 male(s)/female total population: 1.05 male(s)/female (2004 est.)

Total fertility rate

2.22 children born/woman (2004 est.)

Disputes - international

Faroese are considering proposals for full independence; Denmark dispute with Iceland over the Faroe Islands fisheries median line boundary of 200 nm; Denmark disputes with Iceland, the UK, and Ireland the Faroe Islands claim extending its continental shelf boundary beyond 200 nm

Airports

1 (2003 est.)

Airports - with paved runways

total: 1 914 to 1,523 m: 1 (2004 est.)

Highways

total: 463 km paved: 454 km unpaved: 9 km (1999)

Merchant marine

total: 7 ships (1,000 GRT or over) 24,051 GRT/11,998 DWT by type: cargo 3, container 1, petroleum tanker 1, roll on/roll off 1, short-sea/passenger 1 foreign-owned: Denmark 2, Norway 1, United Kingdom 1 registered in other countries: 1 (2004 est.)

Ports and harbors

Torshavn, Klaksvik, Tvoroyri, Runavik, Fuglafjordhur