Faroe Islands

Broadband - fixed subscriptions

total: 17,973 | subscriptions per 100 inhabitants: 35 (2017 est.)

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

Internet country code

.fo

Internet users

total: 47,988 | percent of population: 95.1% (July 2016 est.)

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; landing points for the SHEFA-2, FARICE-1, and CANTAT-3 fiber-optic submarine cables from the Faeroe Islands, to Denmark, Germany, UK and Iceland; satellite earth stations - 1 Orion; (2019)

Telephones - fixed lines

total subscriptions: 20,193 | subscriptions per 100 inhabitants: 46 (July 2016 est.)

Telephones - mobile cellular

total subscriptions: 54,487 | subscriptions per 100 inhabitants: 107 (July 2016 est.)

Agriculture - products

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

Budget

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

Budget surplus (+) or deficit (-)

-1.7% (of GDP) (2014 est.)

Debt - external

$387.6 million (2012) | $274.5 million (2010)

Distribution of family income - Gini index

22.7 (2013 est.) | 21.6 (2011 est.)

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. Fishing has been the main source of income for the Faroe Islands since the late 19th century, but dependence on fishing makes the economy vulnerable to price fluctuations. Nominal GDP, measured in current prices, grew 5.6% in 2015 and 6.8% in 2016. GDP growth was forecast at 6.2% in 2017, slowing to 0.5% in 2018, due to lower fisheries quotas, higher oil prices and fewer farmed salmon combined with lower salmon prices. The fisheries sector accounts for about 97% of exports, and half of GDP. Unemployment is low, estimated at 2.1% in early 2018. Aided by an annual subsidy from Denmark, which amounts to about 11% of Faroese GDP , Faroese have a standard of living equal to that of Denmark. The Faroe Islands have bilateral free trade agreements with the EU, Iceland, Norway, Switzerland, and Turkey. For the first time in 8 years, the Faroe Islands managed to generate a public budget surplus in 2016, a trend which continued in 2017. The local government intends to use this to reduce public debt, which reached 38% of GDP in 2015. A fiscal sustainability analysis of the Faroese economy shows that a long-term tightening of fiscal policy of 5% of GDP is required for fiscal sustainability. Increasing public infrastructure investments are likely to lead to continued growth in the short term, and the Faroese economy is becoming somewhat more diversified. Growing industries include financial services, petroleum-related businesses, shipping, maritime manufacturing services, civil aviation, IT, telecommunications, and tourism.

Exchange rates

Danish kroner (DKK) per US dollar - | 6.586 (2017 est.) | 6.7269 (2016 est.) | 6.7269 (2015 est.) | 6.7236 (2014 est.) | 5.6125 (2013 est.)

Exports

$1.184 billion (2016 est.) | $1.019 billion (2015 est.)

Exports - commodities

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

Exports - partners

Russia 26.4%, UK 14.1%, Germany 8.4%, China 7.9%, Spain 6.8%, Denmark 6.2%, US 4.7%, Poland 4.4%, Norway 4.1% (2017)

Fiscal year

calendar year

GDP (official exchange rate)

$2.765 billion (2014 est.) (2014 est.)

GDP (purchasing power parity)

$2.001 billion (2014 est.) | $1.89 billion (2013 est.) | $1.608 billion (2012 est.)

GDP - composition, by end use

household consumption: 52% (2013) | government consumption: 29.6% (2013) | investment in fixed capital: 18.4% (2013)

GDP - composition, by sector of origin

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

GDP - per capita (PPP)

$40,000 (2014 est.)

GDP - real growth rate

5.9% (2017 est.) | 7.5% (2016 est.) | 2.4% (2015 est.)

Gross national saving

25.7% of GDP (2012 est.) | 25.2% of GDP (2011 est.) | 25.9% of GDP (2010 est.)

Household income or consumption by percentage share

lowest 10%: NA | highest 10%: NA

Imports

$978.4 million (2016 est.) | $906.1 million (2015 est.)

Imports - commodities

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

Imports - partners

Denmark 33%, China 10.7%, Germany 7.6%, Poland 6.8%, Norway 6.7%, Ireland 5%, Chile 4.3% (2017)

Industrial production growth rate

3.4% (2009 est.)

Industries

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

Inflation rate (consumer prices)

-0.3% (2016) | -1.7% (2015)

Labor force

27,540 (2017 est.)

Labor force - by occupation

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

Population below poverty line

10% (2015 est.)

Public debt

35% of GDP (2014 est.)

Stock of direct foreign investment - at home

NA

Taxes and other revenues

30.2% (of GDP) (2014 est.)

Unemployment rate

2.2% (2017 est.) | 3.4% (2016 est.)

Carbon dioxide emissions from consumption of energy

739,300 Mt (2017 est.)

Crude oil - exports

0 bbl/day (2015 est.)

Crude oil - imports

0 bbl/day (2015 est.)

Crude oil - production

0 bbl/day (2018 est.)

Crude oil - proved reserves

0 bbl (1 January 2018 est.)

Electricity - consumption

285.5 million kWh (2016 est.)

Electricity - exports

0 kWh (2016 est.)

Electricity - from fossil fuels

54% of total installed capacity (2016 est.)

Electricity - from hydroelectric plants

31% of total installed capacity (2017 est.)

Electricity - from nuclear fuels

0% of total installed capacity (2017 est.)

Electricity - from other renewable sources

16% of total installed capacity (2017 est.)

Electricity - imports

0 kWh (2016 est.)

Electricity - installed generating capacity

128,300 kW (2016 est.)

Electricity - production

307 million kWh (2016 est.)

Electricity access

electrification - total population: 100% (2016)

Natural gas - consumption

0 cu m (2017 est.)

Natural gas - exports

0 cu m (2017 est.)

Natural gas - imports

0 cu m (2017 est.)

Natural gas - production

0 cu m (2017 est.)

Natural gas - proved reserves

0 cu m (1 January 2014 est.)

Refined petroleum products - consumption

4,600 bbl/day (2016 est.)

Refined petroleum products - exports

0 bbl/day (2015 est.)

Refined petroleum products - imports

4,555 bbl/day (2015 est.)

Refined petroleum products - production

0 bbl/day (2015 est.)

Area

total: 1,393 sq km | 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

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% (2011 est.) | arable land: 2.1% (2011 est.) / permanent crops: 0% (2011 est.) / permanent pasture: 0% (2011 est.) | forest: 0.1% (2011 est.) | 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

part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark; there are 29 first-order municipalities (kommunur, singular - kommuna) Eidhis, Eystur, Famjins, Fuglafjardhar, Fugloyar, Hovs, Husavikar, Hvalbiar, Hvannasunds, Klaksvikar, Kunoyar, Kvivik, Nes, Porkeris, Runavikar, Sands, Sjovar, Skalavikar, Skopunar, Skuvoyar, Sorvags, Sumbiar, Sunda, Torshavnar, Tvoroyrar, Vaga, Vags, Vestmanna, Vidhareidhis

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 Lene Moyell JOHANSEN, chief administrative officer (since 15 May 2017) | head of government: Prime Minister Bardhur A STEIG NIELSEN (since 16 September 2019) | 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 31 August 2019 (next to be held in 2023) | election results: Bardhur A STEIGNIELSEN 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 courts: 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 apply where applicable

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) the Faroe Islands elect 2 members to the Danish Parliament to serve 4-year terms | elections: Faroese Parliament - last held on 31 August 2019 (next to be held in 2023) Faroese seats in the Danish Parliament last held on 5 June 2019 (next to be held no later than June 2023) | election results: Faroese Parliament percent of vote by party - People's Party 24.5%, JF 22.1%, Union Party 20.3%, Republic 18.1%, Center Party 5.4%, Progressive Party 4.6%, New Self-Government Party 3.4%, other 1.4%, seats by party - People's Party 8, JF 7, Union Party 7, Republic 6, Center Party 2, Progressive Party 2, New Self-Government Party 1, composition - men 25, women 8; percent of women 24.2% Faroese seats in Danish Parliament - percent of vote by party - NA; seats by party - Social Democratic Party 1, Republican Party 1; composition - 2 men

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] Self-Government Party (Sjalvstyri or Sjalvstyrisflokkurin) [Jogvan SKORHEIM] 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) [Bardhur A STEIG NIELSEN]

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 and security forces

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 (2019)

Age structure

0-14 years: 19.79% (male 5,220 /female 4,878) | 15-24 years: 14.17% (male 3,714 /female 3,515) | 25-54 years: 37.24% (male 10,280 /female 8,718) | 55-64 years: 11.82% (male 3,094 /female 2,934) | 65 years and over: 16.98% (male 4,194 /female 4,471) (2018 est.) | population pyramid: The World Factbook Field Image Modal × Europe :: Faroe Islands Print Image Description This is the population pyramid for the Faroe Islands . A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends. For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab.

Birth rate

14.5 births/1,000 population (2018 est.)

Death rate

8.8 deaths/1,000 population (2018 est.)

Ethnic groups

Faroese 87.6% (Scandinavian and Anglo-Saxon descent), Danish 7.8%, other Nordic 1.4%, other 3.2% (includes Filipino, Thai, British) (2018 est.) | note: data represent respondents by country of birth

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Hospital bed density

4.1 beds/1,000 population (2015)

Infant mortality rate

total: 5.3 deaths/1,000 live births (2018 est.) | male: 5.6 deaths/1,000 live births | female: 5 deaths/1,000 live births

Languages

Faroese 93.8% (derived from Old Norse), Danish 3.2%, other 3% (2011 est.) | note: data represent population by primary language

Life expectancy at birth

total population: 80.6 years (2018 est.) | male: 78.1 years | female: 83.3 years

Major urban areas - population

21,000 TORSHAVN (capital) (2018)

Median age

total: 37.6 years (2018 est.) | male: 37.1 years | female: 38.2 years

Nationality

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

Net migration rate

0 migrant(s)/1,000 population (2018 est.)

Physicians density

2.62 physicians/1,000 population (2016)

Population

51,018 (July 2018 est.)

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

0.58% (2018 est.)

Religions

Christian 89.3% (predominantly Evangelical Lutheran), other 1%, 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: 1.06 male(s)/female | 25-54 years: 1.18 male(s)/female | 55-64 years: 1.05 male(s)/female | 65 years and over: 0.94 male(s)/female | total population: 1.08 male(s)/female (2018 est.)

Total fertility rate

2.34 children born/woman (2018 est.)

Urbanization

urban population: 42.2% of total population (2019) | rate of urbanization: 0.74% 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)

Airports - with paved runways

total: 1 (2019) | 1,524 to 2,437 m: 1

Civil aircraft registration country code prefix

OY-H (2016)

Merchant marine

total: 100 | by type: container ship 3, general cargo 42, oil tanker 1, other 54 (2018)

National air transport system

number of registered air carriers: 1 (registered in Denmark) (2015) | 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 (2017) | paved: 500 km (2017) | unpaved: 460 km (2017) | note: those islands not connected by roads (bridges or tunnels) are connected by seven different ferry links operated by the nationally owned company SSL; 28 km of tunnels