Faroe Islands

Broadcast media

1 publicly-owned TV station; the Faroese telecommunications company distributes local and international channels through its digital terrestrial network; publicly-owned radio station supplemented by 2 privately-owned stations broadcasting over multiple frequencies (2008)

Internet country code

.fo

Internet hosts

7,575 (2012) country comparison to the world: 140

Internet users

37,500 (2009) country comparison to the world: 176

Telephone system

general assessment: good international communications; good domestic facilities domestic: conversion to digital system 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

20,200 (2009) country comparison to the world: 189

Telephones - mobile cellular

59,400 (2009) country comparison to the world: 198

Agriculture - products

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

Budget

revenues: $1.025 billion expenditures: $1.301 billion note: Denmark supplies the Faroe Islands with almost one-third of their public funds (2010 est.)

Budget surplus (+) or deficit (-)

-11.9% of GDP (2010 est.) country comparison to the world: 207

Debt - external

$888.8 million (2010) country comparison to the world: 160 $68.1 million (2006)

Economy - overview

The Faroese economy is dependent on fishing, which makes the economy vulnerable to price fluctuations. The sector normally accounts for about 95% of exports and nearly half of GDP. In early 2008 the Faroese economy began to slow as a result of smaller catches and historically high oil prices. The slowdown in the Faroese economy followed a strong performance since the mid-1990s with annual growth rates averaging close to 6%, mostly a result of increased fish landings and salmon farming, and high export prices. Unemployment reached its lowest level in June 2008 at 1.1%. The Faroese Home Rule Government produced increasing budget surpluses in that period, which helped to reduce the large public debt, most of it to Denmark. However, total dependence on fishing and salmon farming make the Faroese economy vulnerable to fluctuations in world demand. Initial discoveries of oil in the Faroese area give hope for eventual oil production, which may provide a foundation for a more diversified economy and less dependence on Danish economic assistance. Aided by an annual subsidy from Denmark amounting to about 3% of Faroese GDP, the Faroese have a standard of living almost equal to that of Denmark and Greenland. The Faroese Government ran relatively large deficits from 2008 to 2010 and budget deficits are forecast for several years ahead. At year-end 2010 the gross debt had reached approximately US$900 million.

Exchange rates

Danish kroner (DKK) per US dollar - 5.847 (2011) 5.6241 (2011 est.) 5.6241 (2010) 5.361 (2009) 5.0236 (2008)

Exports

$824 million (2010) country comparison to the world: 162 $767 million (2009)

Exports - commodities

fish and fish products 94%, stamps, ships

Exports - partners

Denmark 27.2%, UK 22.7%, US 12.3%, Nigeria 12.1%, Netherlands 7.8%, Norway 4.5% (2011)

Fiscal year

calendar year

GDP (official exchange rate)

$2.32 billion (2010 est.)

GDP (purchasing power parity)

$1.471 billion (2010 est.) country comparison to the world: 197 $1.389 billion (2008 est.)

GDP - composition by sector

agriculture: 16% industry: 29% services: 55% (2007 est.)

GDP - per capita (PPP)

$30,500 (2008 est.) country comparison to the world: 43

GDP - real growth rate

2.9% (2010 est.) country comparison to the world: 116 0.5% (2008 est.)

Household income or consumption by percentage share

lowest 10%: NA% highest 10%: NA%

Imports

$776 million (2010) country comparison to the world: 184 $786 million (2009)

Imports - commodities

goods for household consumption 24%, machinery and transport equipment 23.5%, fuels 21.4%, raw materials and semi-manufactures, salt

Imports - partners

Denmark 49.6%, Norway 29%, Iceland 4.1% (2011)

Industrial production growth rate

3.4% (2009 est.) country comparison to the world: 90

Inflation rate (consumer prices)

2.3% (2011) country comparison to the world: 41 0.4% (2010)

Labor force

34,710 (November 2010) country comparison to the world: 202

Labor force - by occupation

agriculture: 10.7% industry: 18.9% services: 70.3% (November 2010)

Population below poverty line

NA%

Taxes and other revenues

44.2% of GDP (2010) country comparison to the world: 37

Unemployment rate

6.8% (2011) country comparison to the world: 72 5.7% (2010)

Carbon dioxide emissions from consumption of energy

744,400 Mt (2010 est.) country comparison to the world: 174

Crude oil - exports

0 bbl/day (2009 est.) country comparison to the world: 114

Crude oil - imports

0 bbl/day (2009 est.) country comparison to the world: 185

Crude oil - production

0 bbl/day (2011 est.) country comparison to the world: 136

Crude oil - proved reserves

0 bbl (1 January 2012 est.) country comparison to the world: 134

Electricity - consumption

268.8 million kWh (2010 est.) country comparison to the world: 179

Electricity - exports

0 kWh (2010 est.) country comparison to the world: 196

Electricity - from fossil fuels

64.9% of total installed capacity (2009 est.) country comparison to the world: 130

Electricity - from hydroelectric plants

31% of total installed capacity (2009 est.) country comparison to the world: 75

Electricity - from nuclear fuels

0% of total installed capacity (2009 est.) country comparison to the world: 90

Electricity - from other renewable sources

4.1% of total installed capacity (2009 est.) country comparison to the world: 42

Electricity - imports

0 kWh (2010 est.) country comparison to the world: 188

Electricity - installed generating capacity

100,100 kW (2009 est.) country comparison to the world: 169

Electricity - production

280.3 million kWh (2010 est.) country comparison to the world: 173

Natural gas - consumption

0 cu m (2010 est.) country comparison to the world: 145

Natural gas - exports

0 cu m (2010 est.) country comparison to the world: 198

Natural gas - imports

0 cu m (2010 est.) country comparison to the world: 196

Natural gas - production

0 cu m (2010 est.) country comparison to the world: 131

Natural gas - proved reserves

0 cu m (1 January 2012 est.) country comparison to the world: 139

Refined petroleum products - consumption

4,871 bbl/day (2011 est.) country comparison to the world: 171

Refined petroleum products - exports

0 bbl/day (2008 est.) country comparison to the world: 178

Refined petroleum products - imports

4,859 bbl/day (2008 est.) country comparison to the world: 158

Refined petroleum products - production

0 bbl/day (2008 est.) country comparison to the world: 148

Area

total: 1,393 sq km country comparison to the world: 183 land: 1,393 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

Environment - international agreements

party to: Marine Dumping - associate member to the London Convention and Ship Pollution

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

Land boundaries

0 km

Land use

arable land: 2.14% permanent crops: 0% other: 97.86% (2005)

Location

Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about half way between Iceland and 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 34 municipalities

Capital

name: Torshavn geographic coordinates: 62 00 N, 6 46 W time difference: UTC 0 (5 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

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 Dan Michael KNUDSEN, chief administrative officer (since 2008) head of government: Prime Minister Kaj Leo JOHANNESSEN (since 26 September 2008) cabinet: Landsstyri appointed by the prime minister (For more information visit theWorld Leaders website) elections: the monarchy 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 on 14 November 2011 (next to be held no later than November 2015) election results: Kaj Leo JOHANNESSEN re-elected prime minister in 2011

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); referred to as Merkid, meaning "the banner" or "the mark," the flag resembles those of neighboring Iceland and Norway, and uses the same three colors - but in a different sequence; white represents the clear Faroese sky as well as the foam of the waves; red and blue are traditional Faroese colors

Government type

NA

Independence

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

International organization participation

Arctic Council, IMO (associate), NC, NIB, UNESCO (associate), UPU

Judicial branch

The Faroese Court or Raett (Rett (Danish)) decides both civil and criminal cases; the Court is part of the Danish legal system

Legal system

the laws of Denmark, where applicable, apply

Legislative branch

unicameral Faroese Parliament or Logting (33 seats; members elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms) elections: last held on 29 October 2011 (next to be held no later than October 2015) election results: percent of vote by party - Union Party 24.7%, People's Party 22.5%, Republican Party 18.3%, Social Democratic Party 17.7%, Progressive Party 6.3%, Center Party 6.2%, Independence Party 4.2%, other 0.1%; seats by party - Union Party 8, People's Party 8, Republican Party 6, Social Democratic Party 6, Progressive Party 2, Center Party 2, Independence Party 1 note: election of two seats to the Danish Parliament was last held on 15 September 2011 (next to be held no later than September 2015); results - percent of vote by party - NA; seats by party - Social Democratic Party 1, Union Party 1

National anthem

name: "Mitt alfagra land" (My Fairest Land) lyrics/music: Simun av SKAROI/Peter ALBERG note: adopted 1948; the anthem is also known as "Tu alfagra land mitt" (Thou Fairest Land of Mine); as an autonomous overseas division of Denmark, the Faroe Islands are permitted their own national anthem

National holiday

Olaifest (Olavsoka), 29 July

National symbol(s)

ram

Political parties and leaders

Center Party (Midflokkurin) [Jenis av RANA]; Independence Party (Sjalvstyrisflokkurin) [Kari P. HOJGAARD]; People's Party (Folkaflokkurin) [Jorgen NICLASEN];Progressive Party (Framsokn) [Poul MICHELSEN];; Republican Party (Tjodveldi) [Hogni HOYDAL]; Social Democratic Party (Javnadarflokkurin) [Aksel JOHANNESEN]; Union Party (Sambandsflokkurin) [Kaj Leo JOHANNESEN]

Political pressure groups and leaders

conservationists

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 granted the Faroese in 1948, who have autonomy over most internal affairs while Denmark is responsible for justice, defense, and foreign affairs. The Faroe Islands are not part of the European Union.

Manpower available for military service

males age 16-49: 11,831 (2010 est.)

Manpower fit for military service

males age 16-49: 9,827 females age 16-49: 8,418 (2010 est.)

Manpower reaching militarily significant age annually

male: 372 female: 373 (2010 est.)

Military - note

defense is the responsibility of Denmark

Military branches

no regular military forces (2012)

Military expenditures

NA

Age structure

0-14 years: 20.6% (male 5,312/ female 4,906) 15-64 years: 64.3% (male 16,884/ female 14,915) 65 years and over: 15.1% (male 3,592/ female 3,874) (2012 est.)

Birth rate

13.14 births/1,000 population (2012 est.) country comparison to the world: 151

Death rate

8.67 deaths/1,000 population (July 2012 est.) country comparison to the world: 76

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: 5.94 deaths/1,000 live births country comparison to the world: 174 male: 6.19 deaths/1,000 live births female: 5.67 deaths/1,000 live births (2012 est.)

Languages

Faroese (derived from Old Norse), Danish

Life expectancy at birth

total population: 79.85 years country comparison to the world: 34 male: 77.37 years female: 82.5 years (2012 est.)

Literacy

NA; note - probably 99%, the same as Denmark proper

Median age

total: 37.3 years male: 36.7 years female: 38.1 years (2012 est.)

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Net migration rate

0 migrant(s)/1,000 population (2012 est.) country comparison to the world: 84

Population

49,483 (July 2012 est.) country comparison to the world: 210

Population growth rate

0.447% (2012 est.) country comparison to the world: 154

Religions

Evangelical Lutheran 83.8%, other and unspecified 16.2% (2006 census)

Sex ratio

at birth: 1.07 male(s)/female under 15 years: 1.08 male(s)/female 15-64 years: 1.13 male(s)/female 65 years and over: 0.93 male(s)/female total population: 1.09 male(s)/female (2011 est.)

Total fertility rate

2.4 children born/woman (2012 est.) country comparison to the world: 92

Unemployment, youth ages 15-24

total: 9.4% country comparison to the world: 105 male: 6.9% female: 12.5% (2005)

Urbanization

urban population: 40% of total population (2010) rate of urbanization: 0.9% annual rate of change (2010-15 est.)

Disputes - international

because anticipated offshore hydrocarbon resources have not been realized, earlier Faroese proposals for full independence have been deferred; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm

Airports

1 (2012) country comparison to the world: 223

Airports - with paved runways

total: 1 1,524 to 2,437 m: 1 (2012)

Merchant marine

total: 37 country comparison to the world: 79 by type: cargo 20, chemical tanker 7, container 2, passenger/cargo 3, refrigerated cargo 3, roll on/roll off 2 foreign-owned: 28 (Iceland 4, Norway 13, Sweden 11) (2010)

Ports and terminals

Fuglafjordur, Torshavn, Vagur

Roadways

total: 463 km (2006) country comparison to the world: 196