Faroe Islands

Internet country code

.fo

Internet hosts

8,490 (2007)

Internet users

34,000 (2006)

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 (2006)

Telephones - mobile cellular

50,000 (2006)

Television broadcast stations

3 (plus 43 repeaters) (September 1995)

Agriculture - products

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

Budget

revenues: $588 million expenditures: $623 million (2005)

Currency (code)

Danish krone (DKK)

Debt - external

$64 million (1999)

Economic aid - recipient

$105 million; note - annual subsidy from Denmark (2005)

Economy - overview

The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. Since 2003 the Faroese economy has picked up as a result of higher prices for fish and for housing. Unemployment is minimal and government finances are relatively sound. Oil finds close to the Islands give hope for economically recoverable deposits, which could eventually lay the basis for a more diversified economy and lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (about 15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.

Electricity - consumption

269.7 million kWh (2005)

Electricity - exports

0 kWh (2005)

Electricity - imports

0 kWh (2005)

Electricity - production

290 million kWh (2005)

Exchange rates

Danish kroner per US dollar - 5.9468 (2006), 5.9969 (2005), 5.9911 (2004), 6.5877 (2003), 7.8947 (2002)

Exports

$598 million f.o.b. (2005 est.)

Exports - commodities

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

Exports - partners

Denmark 32%, UK 27%, Norway 10.2%, Nigeria 9.3%, Netherlands 5.5% (2006)

Fiscal year

calendar year

GDP (official exchange rate)

$1.7 billion (2005 est.)

GDP (purchasing power parity)

$1 billion (2001 est.)

GDP - composition by sector

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

GDP - per capita (PPP)

$31,000 (2001 est.)

GDP - real growth rate

2.4% (2005 est.)

Household income or consumption by percentage share

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

Imports

$639 million c.i.f. (2004 est.)

Imports - commodities

consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt (1999)

Imports - partners

Denmark 53%, Norway 20.7%, Iceland 6%, Sweden 4.3% (2006)

Industrial production growth rate

8% (1999 est.)

Industries

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

Inflation rate (consumer prices)

1.8% (2005)

Labor force

24,250 (October 2000)

Labor force - by occupation

agriculture: 33% industry: 33% services: 34% (October 2000)

Natural gas - consumption

0 cu m (2005 est.)

Natural gas - production

0 cu m (2005 est.)

Oil - consumption

4,550 bbl/day (2004 est.)

Oil - exports

NA bbl/day

Oil - imports

NA bbl/day

Oil - production

0 bbl/day (2004 est.)

Oil - proved reserves

0 bbl (1 January 2006)

Population below poverty line

NA%

Unemployment rate

2.1% (2006)

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

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 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 34 municipalities

Capital

name: Torshavn geographic coordinates: 62 01 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 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

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

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

Judicial branch

none

Legal system

the laws of Denmark, where applicable, apply

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 Democratic Party 21.8%, Republican Party 21.7%, People's Party 20.6%, Center Party 5.2%, Independence Party 4.6%, other 2.4%; seats by party - Republican Party 8, Union Party 7, Social Democratic Party 7, People's Party 7, Center Party 2, Independence Party 1 note: election of two seats to the Danish Parliament was last held on 8 February 2005 (next to be held in February 2009); results - percent of vote by party - NA; seats by party - Republican Party 1, People's Party 1

National holiday

Olaifest (Olavasoka), 29 July

Political parties and leaders

Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Anfinn KALLSBERG]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Kaj Leo JOHANNESEN]

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.

Manpower available for military service

males age 18-49: 10,695 (2005 est.)

Manpower fit for military service

males age 18-49: 8,852 (2005 est.)

Manpower reaching military service age annually

males age 18-49: 366 (2005 est.)

Military - note

defense is the responsibility of Denmark

Military branches

no regular military forces

Military expenditures - percent of GDP

NA

Age structure

0-14 years: 20.6% (male 4,882/female 4,904) 15-64 years: 65.3% (male 16,353/female 14,668) 65 years and over: 14.1% (male 3,041/female 3,663) (2007 est.)

Birth rate

14.12 births/1,000 population (2007 est.)

Death rate

8.69 deaths/1,000 population (2007 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: 6.01 deaths/1,000 live births male: 7.25 deaths/1,000 live births female: 4.76 deaths/1,000 live births (2007 est.)

Languages

Faroese (derived from Old Norse), Danish

Life expectancy at birth

total population: 79.49 years male: 76.06 years female: 82.93 years (2007 est.)

Literacy

definition: NA total population: NA% male: NA% female: NA% note: probably 100%, the same as Denmark proper

Median age

total: 35 years male: 34.8 years female: 35.3 years (2007 est.)

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Net migration rate

0 migrant(s)/1,000 population (2007 est.)

Population

47,511 (July 2007 est.)

Population growth rate

0.543% (2007 est.)

Religions

Evangelical Lutheran

Sex ratio

at birth: 1 male(s)/female under 15 years: 0.996 male(s)/female 15-64 years: 1.115 male(s)/female 65 years and over: 0.83 male(s)/female total population: 1.045 male(s)/female (2007 est.)

Total fertility rate

2.15 children born/woman (2007 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 (2007)

Airports - with paved runways

total: 1 914 to 1,523 m: 1 (2007)

Merchant marine

total: 16 ships (1000 GRT or over) 92,454 GRT/63,291 DWT by type: cargo 10, container 2, passenger/cargo 3, petroleum tanker 1 foreign-owned: 8 (Iceland 4, Norway 4) (2007)

Ports and terminals

Torshavn

Roadways

total: 458 km note: no roads between towns (2003)