Faroe Islands

Airports

1 with permanent-surface runway 1,220-2,439 m

Highways

200 km

Merchant marine

7 ships (1,000 GRT or over) totaling 17,249 GRT/11,887 DWT; includes 1 short-sea passenger, 2 cargo, 2 roll-on/roll-off cargo, 2 refrigerated cargo; note--a subset of the Danish register

Ports

Torshavn, Tvoroyri; 8 minor

Telecommunications

good international communications; fair domestic facilities; 27,900 telephones; stations--1 AM, 3 (10 repeaters) FM, 3 (29 repeaters) TV; 3 coaxial submarine cables

Note

defense is the responsibility of Denmark

Agriculture

accounts for 27% of GDP and employs 27% of labor force; principal crops--potatoes and vegetables; livestock--sheep; annual fish catch about 360,000 metric tons

Aid

none

Budget

revenues $176 million; expenditures $176 million, including capital expenditures of NA (FY86)

Currency

Danish krone (plural--kroner); 1 Danish krone (DKr) = 100 ore

Electricity

80,000 kW capacity; 280 million kWh produced, 5,910 kWh per capita (1989)

Exchange rates

Danish kroner (DKr) per US$1--6.560 (January 1990), 7.310 (1989), 6.732 (1988), 6.840 (1987), 8.091 (1986), 10.596 (1985)

Exports

$267 million (f.o.b., 1986); commodities--fish and fish products 86%, animal feedstuffs, transport equipment; partners--Denmark 18%, US 14%, FRG, France, UK, Canada

External debt

$NA

Fiscal year

1 April-31 March

GDP

$662 million, per capita $14,000; real growth rate 3% (1989 est.)

Imports

$363 million (c.i.f., 1986); commodities--machinery and transport equipment 38%, food and livestock 11%, fuels 10%, manufactures 10%, chemicals 5%; partners: Denmark 46%, FRG, Norway, Japan, UK

Industrial production

growth rate NA%

Industries

fishing, shipbuilding, handicrafts

Inflation rate (consumer prices)

2.0% (1988)

Overview

The Faroese enjoy the high standard of living characteristic of the Danish and other Scandinavian economies. Fishing is the dominant economic activity. It employs over 25% of the labor force, accounts for about 25% of GDP, and contributes over 80% to export revenues. A handicraft industry employs about 20% of the labor force. Because of cool summers agricultural activities are limited to raising sheep and to potato and vegetable cultivation. There is a labor shortage, and immigrant workers accounted for 5% of the work force in 1989. Denmark annually subsidizes the economy, perhaps on the order of 15% of GDP.

Unemployment rate

labor shortage

Climate

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

Coastline

764 km

Comparative area

slightly less than eight times the size of Washington, DC

Contiguous zone

4 nm;

Continental shelf

200 meters or to depth of exploitation;

Environment

precipitous terrain limits habitation to small coastal lowlands; archipelago of 18 inhabited islands and a few uninhabited islets

Exclusive fishing zone

200 nm;

Land boundaries

none

Land use

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

Natural resources

fish

Note

strategically located along important sea lanes in northeastern Atlantic about midway between Iceland and Shetland Islands

Terrain

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

Territorial sea

3 nm

Total area

1,400 km2; land area: 1,400 km2

Administrative divisions

none (self-governing overseas administrative division of Denmark)

Capital

Torshavn

Communists

insignificant number

Constitution

Danish

Diplomatic representation

none (self-governing overseas administrative division of Denmark)

Executive branch

Danish monarch, high commissioner, prime minister, deputy prime minister, Cabinet (Landsstyri)

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

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

Judicial branch

none Chief of State--Queen MARGRETHE II (since 14 January 1972), represented by High Commissioner Bent KLINTE (since NA); Head of Government--Prime Minister Jogvan SUNDSTEIN (since 17 January 1989)

Legal system

Danish

Legislative branch

unicameral Parliament (Logting)

Long-form name

none

Member of

Nordic Council

National holiday

Birthday of the Queen, 16 April (1940)

Political parties and leaders

four-party ruling coalition--People's Party, Jogvan Sundstein; Republican Party, Signer Hansen; Progressive and Fishing Industry Party combined with the Christian People's Party (CPP-PFIP); Home Rule Party, Hilmar Kass; opposition--Social Democratic Party, Atli P. Dam; Cooperation Coalition Party, Pauli Ellefsen; Progress Party

Suffrage

universal at age 20 Parliament--last held 8 November 1988 (next to be held November 1992); results--percent of vote by party NA; seats--(32 total) three-party coalition 21 (People's Party 8, Cooperation Coalition Party 7, Republican Party 6); Social Democrat 7, CPP-PFIP 2, Home Rule 2

Type

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

Birth rate

17 births/1,000 population (1990)

Death rate

8 deaths/1,000 population (1990)

Ethnic divisions

homogeneous Scandinavian population

Infant mortality rate

9 deaths/1,000 live births (1990)

Labor force

17,585; largely engaged in fishing, manufacturing, transportation, and commerce

Language

Faroese (derived from Old Norse), Danish

Life expectancy at birth

74 years male, 81 years female (1990)

Literacy

99%

Nationality

noun--Faroese (sing., pl.); adjective--Faroese

Net migration rate

0 migrants/1,000 population (1990)

Organized labor

NA

Population

47,715 (July 1990), growth rate 0.9% (1990)

Religion

Evangelical Lutheran

Total fertility rate

2.2 children born/woman (1990)