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 3 privately owned stations broadcasting over multiple frequencies (2015)

Internet country code

.fo

Internet users

total: 47,988 | percent of population: 95.1% (July 2016 est.) | country comparison to the world: 188

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 (2015)

Telephones - fixed lines

total subscriptions: 23,139 | subscriptions per 100 inhabitants: 46 (July 2016 est.) | country comparison to the world: 189

Telephones - mobile cellular

total: 54,487 | subscriptions per 100 inhabitants: 108 (July 2016 est.) | country comparison to the world: 199

Agriculture - products

milk, potatoes, vegetables, sheep, salmon, herring, mackerel and other fish

Budget

revenues: $835.6 million | expenditures: $883.8 million | note: Denmark supplies the Faroe Islands with almost one-third of their public funds (2014)

Budget surplus (+) or deficit (-)

-1.7% of GDP (2014 est.) | country comparison to the world: 79

Debt - external

$387.6 million (2012) | $274.5 million (2010) | country comparison to the world: 183

Distribution of family income - Gini index

22.7 (2013 est.) | 21.6 (2011 est.) | country comparison to the world: 149

Economy - overview

The Faroese economy has experienced a period of significant growth since 2011, due to higher fish prices and increased salmon farming and catches in the pelagic fisheries. Nominal GDP, measured in current prices, grew 8.0% in 2015 and 7.8% in 2016. The fisheries sector accounts for about 97% of exports and half of GDP. Dependence on fishing makes the economy vulnerable to price fluctuations. Unemployment is low, estimated at 2.5% in early 2017. Aided by an annual subsidy from Denmark, which amounts to about 4% of Faroese GDP, Faroese have a standard of living equal to that of Denmark. | For the first time in 8 years, the Faroe Islands managed to generate a public budget surplus in 2016, a trend which is continuing in 2017. The local government intends to use this to reduce public debt, which reached 38% of GDP in 2015. Increasing public infrastructure investments are likely to lead to continued growth in the short term, but could contribute to overheating the economy. Signs of overheating led the Danish Central Bank in fall of 2016 to advise the Faroese local government to initiate measures to cool the economy, including postponing spending on infrastructure spending. The local government is planning to allocate part of the expected public surplus to a business-cycle-equalization fund.

Exchange rates

Danish kroner (DKK) per US dollar - | 6.7309 (2016) | 6.7269 (2015) | 6.7236 (2014 est.) | 5.6125 (2013 est.) | 5.79 (2012 est.)

Exports

$1.184 billion (2016 est.) | $1.019 billion (2015 est.) | country comparison to the world: 154

Exports - commodities

fish and fish products (97%) (2017 est.)

Exports - partners

UK 17.8%, Russia 17.3%, Germany 9.8%, China 9.2%, Denmark 6.5%, US 6%, Spain 4.8%, Poland 4.3% (2016)

Fiscal year

calendar year

GDP (official exchange rate)

$2.765 billion (2010 est.)

GDP (purchasing power parity)

$2.001 billion (2014 est.) | $1.89 billion (2013 est.) | $1.608 billion (2013 est.) | country comparison to the world: 197

GDP - composition, by sector of origin

agriculture: 18% | industry: 39% | services: 43% (2013 est.)

GDP - per capita (PPP)

$40,000 (2014 est.) | country comparison to the world: 43

GDP - real growth rate

5.9% (2014 est.) | 7.5% (2013 est.) | 2.4% (2013 est.) | country comparison to the world: 27

Gross national saving

25.7% of GDP (2012 est.) | 25.2% of GDP (2011 est.) | 25.9% of GDP (2010 est.) | country comparison to the world: 48

Household income or consumption by percentage share

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

Imports

$978.4 million (2016 est.) | $906.1 million (2015 est.) | country comparison to the world: 181

Imports - commodities

goods for household consumption, machinery and transport equipment, fuels, raw materials and semi-manufactures, cars

Imports - partners

Denmark 26.6%, Germany 10.7%, China 10.6%, Norway 10.2%, Poland 6.2%, Ireland 5%, Chile 4.2% (2016)

Industrial production growth rate

3.4% (2009 est.) | country comparison to the world: 70

Industries

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

Inflation rate (consumer prices)

-0.3% (2016) | -1.7% (2015) | country comparison to the world: 36

Labor force

28,900 (2015 est.) | country comparison to the world: 206

Labor force - by occupation

agriculture: 15% | industry: 15% | services: 70% (December 2016 est)

Population below poverty line

4.2% (2012 est.)

Public debt

35% of GDP (2014 est.) | country comparison to the world: 145

Taxes and other revenues

30.2% of GDP (2014 est.) | country comparison to the world: 79

Unemployment rate

2.8% (2016 est.) | 2.9% (2015 est.) | country comparison to the world: 28

Carbon dioxide emissions from consumption of energy

800,000 Mt (2013 est.) | country comparison to the world: 170

Crude oil - exports

0 bbl/day (2014 est.) | country comparison to the world: 125

Crude oil - imports

0 bbl/day (2014 est.) | country comparison to the world: 129

Crude oil - production

0 bbl/day (2016 est.) | country comparison to the world: 138

Crude oil - proved reserves

0 bbl (1 January 2017 es) | country comparison to the world: 137

Electricity - consumption

291.4 million kWh (2016 est.) | country comparison to the world: 185

Electricity - exports

0 kWh (2016 est.) | country comparison to the world: 137

Electricity - from fossil fuels

50.1% of total installed capacity (2016 est.) | country comparison to the world: 151

Electricity - from hydroelectric plants

33.5% of total installed capacity (2016 est.) | country comparison to the world: 62

Electricity - from nuclear fuels

0% of total installed capacity (2016 est.) | country comparison to the world: 92

Electricity - from other renewable sources

16.4% of total installed capacity (2016 est.) | country comparison to the world: 41

Electricity - imports

0 kWh (2016 est.) | country comparison to the world: 151

Electricity - installed generating capacity

128,000 kW (2015 est.) | country comparison to the world: 175

Electricity - production

317.4 million kWh (2016 est.) | country comparison to the world: 179

Electricity access

electrification - total population: 100% (2016)

Natural gas - consumption

0 cu m (2013 est.) | country comparison to the world: 182

Natural gas - exports

0 cu m (2016 est.) | country comparison to the world: 105

Natural gas - imports

0 cu m (2013 est.) | country comparison to the world: 126

Natural gas - production

0 cu m (2016 est.) | country comparison to the world: 137

Natural gas - proved reserves

0 cu m (1 January 2014 es) | country comparison to the world: 141

Refined petroleum products - consumption

3,947 bbl/day (2015 est.) | country comparison to the world: 180

Refined petroleum products - exports

0 bbl/day (2015 est.) | country comparison to the world: 157

Refined petroleum products - imports

3,947 bbl/day (2016 est.) | country comparison to the world: 171

Refined petroleum products - production

0 bbl/day (2016 est.) | country comparison to the world: 145

Area

total: 1,393 sq km | land: 1,393 sq km | water: 0 sq km (some lakes and streams) | country comparison to the world: 183

Area - comparative

eight times the size of Washington, DC

Climate

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

Coastline

1,117 km

Elevation

mean elevation: NA | elevation extremes: lowest point: Atlantic Ocean 0 m | highest point: Slaettaratindur 882 m

Environment - current issues

coastal erosion, landslides and rockfalls, flash flooding, wind storms; oil spills

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

Land boundaries

0 km

Land use

agricultural land: 2.1% | arable land 2.1%; permanent crops 0%; permanent pasture 0% | forest: 0.1% | other: 97.8% (2011 est.)

Location

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

Map references

Europe

Maritime claims

territorial sea: 12 nm | continental shelf: 200 nm or agreed boundaries or median line | exclusive fishing zone: 200 nm or agreed boundaries or median line

Natural hazards

strong winds and heavy rains can occur throughout the year

Natural resources

fish, whales, hydropower, possible oil and gas

Population - distribution

the island of Streymoy is by far the most populous with over 40% of the population; it has approximately twice as many inhabitants as Eysturoy, the second most populous island; seven of the inhabited islands have fewer than 100 people

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 30 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

Citizenship

see Denmark

Constitution

history: 5 June 1953 (Danish Constitution), 23 March 1948 (Home Rule Act), and 24 June 2005 (Takeover Act) serve as the Faroe Islands constitutional position in the Unity of the Realm | amendments: see entry for Denmark (2016)

Country name

conventional long form: none | conventional short form: Faroe Islands | local long form: none | local short form: Foroyar | etymology: the archipelago's name may derive from the Old Norse word "faer," meaning sheep

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 1 January 2008) | head of government: Prime Minister Aksel V. JOHANNESEN (since 15 September 2015) | cabinet: Landsstyri appointed by the prime minister | elections/appointments: the monarchy is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or majority coalition usually elected prime minister by the Faroese Parliament; election last held on 1 September 2015 (next to be held in 2019) | election results: Aksel V. JOHANNESEN elected prime minister; Parliament 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); 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 | note: the blue on the flag is a lighter blue (azure) than that found on the flags of Iceland or Norway

Government type

parliamentary democracy (Faroese Parliament); part of the Kingdom of Denmark

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

highest court(s): Faroese Court or Raett (Rett - Danish) decides both civil and criminal cases; the Court is part of the Danish legal system | subordinate courts: Court of the First Instance or Tribunal de Premiere Instance; Court of Administrative Law or Tribunal Administratif; Mixed Commercial Court; Land Court

Legal system

the laws of Denmark, where applicable, apply

Legislative branch

description: unicameral Faroese Parliament or Logting (33 seats; members directly elected in a single nationwide constituency by proportional representation vote; members serve 4-year terms) | elections: last held on 1 September 2015 (next to be held no later than October 2019) | election results: percent of vote by party - JF 25.1%, Republic 20.7%, People's Party, 18.9%, Union Party 18.7%, Progressive Party 7%, Center Party 5.5%, Self-Government Party 4.1%; seats by party - JF 8, Republic 7, People's Party 6, Union Party 6, Center Party 2, Progressive Party 2, Self-Government Party 2 | note: election for 2 seats in the Danish Parliament was last held on 18 June 2015 (next to be held no later than June 2019); percent of vote by party - NA; seats by party - Social Democratic Party 1, Republican 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 a self-governing overseas administrative division of Denmark, the Faroe Islands are permitted their own national anthem

National holiday

Olaifest (Olavsoka) (commemorates the death in battle of King Olaf II of Norway, later St. Olaf), 29 July (1030)

National symbol(s)

ram; national colors: red, white, blue

Political parties and leaders

Center Party (Midflokkurin) [Jenis av RANA] | New Self-Government Party (Nytt Sjalvstyri) [Jogvan SKORHEIM] (formerly Self-Govenment Party) (Sjalvstyrisflokkurin) | People's Party (Folkaflokkurin) [Jorgen NICLASEN] | Progressive Party (Framsokn) [Poul MICHELSEN] | Republic (Tjodveldi) [Hogni HOYDAL] (formerly the Republican Party) | Social Democratic Party (Javnadarflokkurin) or JF [Aksel V. JOHANNESEN] | Union Party (Sambandsflokkurin) [Bardur a STEIG NIELSEN]

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.

Military - note

defense is the responsibility of Denmark

Military branches

no regular military forces or conscription; the Government of Denmark has responsibility for defense; as such, the Danish military’s Joint Arctic Command in Nuuk, Greenland is responsible for territorial defense of the Faroe Islands; the Joint Arctic Command has a contact element in the capital of Torshavn (2017)

Age structure

0-14 years: 19.89% (male 5,214/female 4,878) | 15-24 years: 14.34% (male 3,738/female 3,538) | 25-54 years: 37.31% (male 10,252/female 8,676) | 55-64 years: 11.69% (male 3,054/female 2,878) | 65 years and over: 16.76% (male 4,111/female 4,391) (2017 est.)

Birth rate

14.3 births/1,000 population (2017 est.) | country comparison to the world: 134

Death rate

8.8 deaths/1,000 population (2017 est.) | country comparison to the world: 68

Ethnic groups

Faroese 89.2% (Scandinavian and Anglo-Saxon descent), Danish 7.1%, other 3.7% (includes Icelander, Norwegian, Greenlander, Filipino, Thai, British) | note: data represent respondents by country of birth (2011 est.)

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Hospital bed density

5.14 beds/1,000 population (2014)

Infant mortality rate

total: 5.4 deaths/1,000 live births | male: 5.7 deaths/1,000 live births | female: 5.1 deaths/1,000 live births (2017 est.) | country comparison to the world: 173

Languages

Faroese 93.8% (derived from Old Norse), Danish 3.2%, other 3% (2011 est.)

Life expectancy at birth

total population: 80.5 years | male: 78 years | female: 83.2 years (2017 est.) | country comparison to the world: 38

Major urban areas - population

TORSHAVN (capital) 21,000 (2014)

Median age

total: 37.6 years | male: 37.1 years | female: 38.3 years (2017 est.) | country comparison to the world: 64

Nationality

noun: Faroese (singular and plural) | adjective: Faroese

Net migration rate

0 migrant(s)/1,000 population (2017 est.) | country comparison to the world: 81

Physicians density

2.63 physicians/1,000 population (2014)

Population

50,730 (July 2017 est.) | country comparison to the world: 211

Population distribution

the island of Streymoy is by far the most populous with over 40% of the population; it has approximately twice as many inhabitants as Eysturoy, the second most populous island; seven of the inhabited islands have fewer than 100 people

Population growth rate

0.55% (2017 est.) | country comparison to the world: 151

Religions

Christian 89.3% (predominantly Evangelical Lutheran), other 0.7%, more than one religion 0.2%, none 3.8%, unspecified 6% (2011 est.)

Sex ratio

at birth: 1.07 male(s)/female | 0-14 years: 1.07 male(s)/female | 15-24 years: 1.05 male(s)/female | 25-54 years: 1.18 male(s)/female | 55-64 years: 1.06 male(s)/female | 65 years and over: 0.94 male(s)/female | total population: 1.08 male(s)/female (2016 est.)

Total fertility rate

2.35 children born/woman (2017 est.) | country comparison to the world: 86

Urbanization

urban population: 42.4% of total population (2017) | rate of urbanization: 0.87% annual rate of change (2015-20 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 to UNCLOS that the Faroe Islands' continental shelf extends beyond 200 nm

Airports

1 (2013) | country comparison to the world: 217

Airports - with paved runways

total: 1 | 1,524 to 2,437 m: 1 (2017)

Civil aircraft registration country code prefix

OY-H (2016)

Merchant marine

total: 37 | 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) | country comparison to the world: 80

National air transport system

number of registered air carriers: 1 (registered in Denmark) | inventory of registered aircraft operated by air carriers: 3 (registered in Denmark) (2015)

Ports and terminals

major seaport(s): Fuglafjordur, Torshavn, Vagur

Roadways

total: 960 km | note: those islands not commected by roads (bridges or tunnels) are connected by seven different ferry links operated by the nationally owned company SSL (2017) | country comparison to the world: 187