Faroe Islands

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.

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

62 00 N, 7 00 W

Europe

eight times the size of Washington, DC

0 km

1,117 km

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

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

fish, whales, hydropower, possible oil and gas

0 sq km

NA

NA

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

49,057 (July 2010 est.)

0.424% (2010 est.)

12.9 births/1,000 population (2010 est.)

8.66 deaths/1,000 population (July 2010 est.)

0 migrant(s)/1,000 population (2010 est.)

2.43 children born/woman (2010 est.)

NA

NA

NA

Scandinavian

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

Faroese (derived from Old Norse), Danish

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

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

NA

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

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

Olaifest (Olavasoka), 29 July

5 June 1953 (Danish constitution)

the laws of Denmark where applicable apply

18 years of age; universal

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)

none

Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Jorgen NICLASEN]; Republican Party [Hogni HOYDAL]; Self-Government Party [Kari P. HOJGAARD]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Kaj Leo JOHANNESEN]

conservationists

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

none (self-governing overseas administrative division of Denmark)

none (self-governing overseas administrative division of Denmark)

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); the flag resembles those of neighboring Iceland and Norway, and uses the same three colors - but in a different sequence

The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. The sector 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. Though oil prices have come down, reduced catches, especially of cod and haddock, have continued to strain the Faroese economy. GDP grew 0.5% in 2008-09. 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 the first half of 2008, but increased to 5.3% in 2009 and is rising. The Faroese Home Rule Government produced increasing budget surpluses that helped to reduce the large public debt, most of it to Denmark. However, total dependence on fishing and salmon farming make the Faroese economy very vulnerable to fluctuations in world demand, and budget surpluses turned to deficits in 2008-09. 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 6% of Faroese GDP, the Faroese have a standard of living comparable to that of the Danes and other Scandinavians.

$1.56 billion (2008 est.)

$2.45 billion (2008 est.)

0.5% (2008 est.)

$48,200 (2008 est.)

34,680 (November 2008)

3.9% (2009)

1.2% (2008)

NA%

-1.1% (2009)

6.4% (2008)

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

fishing, fish processing, small ship repair and refurbishment, handicrafts

8% (2007 est.)

275.8 million kWh (2008 est.)

264.4 million kWh (2008 est.)

0 kWh (2008)

0 kWh (2008)

0 bbl/day (2008)

5,000 bbl/day (2008)

0 bbl/day (2008)

4,922 bbl/day (2008)

0 bbl (1 January 2009 est.)

0 cu m (2008)

0 cu m (2008)

0 cu m (2008)

0 cu m (2008)

0 cu m (1 January 2009)

$848 million (2008)

$634 million (2006)

fish and fish products 94%, stamps, ships

Denmark 27.6%, UK 18.8%, Croatia 12.2%, Norway 11.9%, Nigeria 10.1%, Netherlands 5.6% (2008)

$983 million (2008); $751 million (2006)

consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt

Denmark 50.4%, Norway 20.2%, Sweden 6.4%, UK 4.2%, Iceland 4.1% (2008)

$68.1 million (2006)

Danish kroner (DKK) per US dollar - 5.4742 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005)

21,800 (2008)

54,900 (2008)

AM 1, FM 13, shortwave 0 (1998)

3 (plus 43 repeaters) (September 1995)

.fo

8,833 (2009)

37,500 (2008)

1 (2009)

Torshavn, Vagur

no regular military forces

NA

defense is the responsibility of Denmark

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