Faroe Islands

Broadband - fixed subscriptions

total: 18,443 (2020) subscriptions per 100 inhabitants: 37.74 (2020 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: 47,800 (2021 est.) percent of population: 97.58% (2019 est.)

Telecommunication systems

general assessment: good international and domestic communications; telecommunications network of high standards with excellent coverage throughout most parts of the country and at competitive prices (2020) domestic: 37 per 100 for fixed-line and 116 per 100 for mobile-cellular; both NMT (analog) and GSM (digital) mobile telephone systems are installed (2019) international: country code - 298; landing points for the SHEFA-2, FARICE-1, and CANTAT-3 fiber-optic submarine cables from the Faroe Islands, to Denmark, Germany, UK and Iceland; satellite earth stations - 1 Orion; (2019) note: the COVID-19 pandemic continues to have a significant impact on production and supply chains globally; since 2020, some aspects of the telecom sector have experienced downturn, particularly in mobile device production; many network operators delayed upgrades to infrastructure; progress towards 5G implementation was postponed or slowed in some countries; consumer spending on telecom services and devices was affected by large-scale job losses and the consequent restriction on disposable incomes; the crucial nature of telecom services as a tool for work and school from home became evident, and received some support from governments

Telephones - fixed lines

total subscriptions: 15,341 (2020) subscriptions per 100 inhabitants: 31.4 (2020 est.)

Telephones - mobile cellular

total subscriptions: 59,003 (2020) subscriptions per 100 inhabitants: 120.8 (2020 est.)

Agricultural products

potatoes, mutton, sheep skins, sheep offals, beef, sheep fat, cattle offals, cattle hides, cattle fat

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)

Economic 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.)

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.)

Gini Index coefficient - distribution of family income

22.7 (2013 est.) 21.6 (2011 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.)

Real GDP (purchasing power parity)

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

Real GDP growth rate

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

Real GDP per capita

$40,000 (2014 est.)

Taxes and other revenues

30.2% (of GDP) (2014 est.)

Unemployment rate

2.2% (2017 est.) 3.4% (2016 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% (2020)

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.)

Air pollutants

carbon dioxide emissions: 0.63 megatons (2016 est.)

Climate

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

Environment - current issues

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

Land use

agricultural land: 2.1% (2018 est.) arable land: 2.1% (2018 est.) permanent crops: 0% (2018 est.) permanent pasture: 0% (2018 est.) forest: 0.1% (2018 est.) other: 97.8% (2018 est.)

Revenue from forest resources

forest revenues: 0% of GDP (2017 est.)

Total renewable water resources

0 cubic meters (2017 est.)

Urbanization

urban population: 42.6% of total population (2021) rate of urbanization: 0.89% annual rate of change (2020-25 est.)

Waste and recycling

municipal solid waste generated annually: 61,000 tons (2014 est.) municipal solid waste recycled annually: 40,870 tons (2012 est.) percent of municipal solid waste recycled: 67% (2012 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

highest point: Slaettaratindur 882 m lowest point: Atlantic Ocean 0 m

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

total: 0 km

Land use

agricultural land: 2.1% (2018 est.) arable land: 2.1% (2018 est.) permanent crops: 0% (2018 est.) permanent pasture: 0% (2018 est.) forest: 0.1% (2018 est.) other: 97.8% (2018 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) Eidhi, Eystur, Famjin, Fuglafjordhur, Fugloy, Hov, Husavik, Hvalba, Hvannasund, Klaksvik, Kunoy, Kvivik, Nes, Porkeri, Runavik, Sandur, Sjovar, Skalavik, Skopun, Skuvoy, Sorvagur, Sumba, Sunda, Torshavn, Tvoroyri, Vagar, Vagur, Vestmanna, Vidhareidhi

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 etymology: the meaning in Danish is Thor's harbor

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

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

embassy: 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 Bardur 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: Bardur 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%, Progress Party 4.6%, 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, Progress Party 2, 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 - JF 1, Republic 1; composition - men 2

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] People's Party (Folkaflokkurin) [Jorgen NICLASEN] Progress Party (Framsokn) [Poul MICHELSEN] Republic (Tjodveldi) [Hogni HOYDAL] (formerly the Republican Party) Self-Government Party (Sjalvstyri or Sjalvstyrisflokkurin) [Jogvan SKORHEIM] Social Democratic Party (Javnadarflokkurin) or JF [Aksel V. JOHANNESEN] Union Party (Sambandsflokkurin) [Bardur A STEIG NIELSEN]

Suffrage

18 years of age; universal

Background

The population of the Faroe Islands, a self-governing dependency of Denmark, is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. The Home Rule Act of 1948 granted a high degree of self-Government to the Faroese, who have autonomy over most internal affairs and external trade, while Denmark is responsible for justice, defense, and some foreign affairs. The Faroe Islands are not part of the European Union.

Military - note

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

Military and security forces

no regular military forces or conscription (2021)

Age structure

0-14 years: 19.69% (male 5,247/female 4,920) 15-24 years: 13.89% (male 3,708/female 3,465) 25-54 years: 37.01% (male 10,277/female 8,828) 55-64 years: 12% (male 3,199/female 2,996) 65 years and over: 17.41% (male 4,352/female 4,636) (2020 est.)

Birth rate

14.92 births/1,000 population (2021 est.)

Children under the age of 5 years underweight

NA

Contraceptive prevalence rate

NA

Current Health Expenditure

NA

Death rate

8.68 deaths/1,000 population (2021 est.)

Dependency ratios

total dependency ratio: NA youth dependency ratio: NA elderly dependency ratio: NA potential support ratio: NA

Drinking water source

improved: total: 99% of population unimproved: total: 0% of population (2017 est.)

Education expenditures

8.2% of GDP (2017)

Ethnic groups

Faroese 85.9% (Scandinavian and Anglo-Saxon descent), Danish 8.2%, other Nordic 1.4%, other 4.5% (includes Filipino, Romanian, Polish) (2021 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

4.2 beds/1,000 population (2016)

Infant mortality rate

total: 6.11 deaths/1,000 live births male: 6.74 deaths/1,000 live births female: 5.44 deaths/1,000 live births (2021 est.)

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: 81.04 years male: 78.5 years female: 83.77 years (2021 est.)

Major urban areas - population

21,000 TORSHAVN (capital) (2018)

Median age

total: 37.2 years male: 36.9 years female: 37.7 years (2020 est.)

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Net migration rate

0 migrant(s)/1,000 population (2021 est.)

Physicians density

2.62 physicians/1,000 population (2016)

Population

51,943 (July 2021 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

0.62% (2021 est.)

Religions

Christian 89.3% (predominantly Evangelical Lutheran), other 1%, none 3.8%, unspecified 6% (2011 est.)

Sanitation facility access

improved: total: 100% of population unimproved: total: 1% of population (2017)

Sex ratio

at birth: 1.07 male(s)/female 0-14 years: 1.07 male(s)/female 15-24 years: 1.07 male(s)/female 25-54 years: 1.16 male(s)/female 55-64 years: 1.07 male(s)/female 65 years and over: 0.94 male(s)/female total population: 1.08 male(s)/female (2020 est.)

Total fertility rate

2.3 children born/woman (2021 est.)

Urbanization

urban population: 42.6% of total population (2021) rate of urbanization: 0.89% annual rate of change (2020-25 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

total: 1 (2020)

Airports - with paved runways

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

Civil aircraft registration country code prefix

OY-H

Merchant marine

total: 101 by type: container ships 6, general cargo 48, oil tanker 1, other 46 (2021)

National air transport system

number of registered air carriers: 1 (registered in Denmark) (2020) inventory of registered aircraft operated by air carriers: 3 (registered in Denmark)

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