ARCHIVE // FO // 2006

Faroe Islands

2006 Edition — territory

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Communications
Internet country code [time series]
.fo
Internet users (Internet hosts) [time series]
6,915 (2006)
Internet users [time series]
33,000 (2005)
Broadcast media (Radio broadcast stations) [time series]
AM 1, FM 13, shortwave 0 (1998)
Telecommunication systems (Telephone system) [time series]
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 - fixed lines (Telephones - main lines in use) [time series]
23,800 (2005)
Telephones - mobile cellular [time series]
42,500 (2005)
Broadcast media (Television broadcast stations) [time series]
3 (plus 43 low-power repeaters) (September 1995)
Economy
Agricultural products (Agriculture - products) [time series]
milk, potatoes, vegetables; sheep; salmon, other fish
Budget [time series]
revenues: $488 million expenditures: $484 million; including capital expenditures of $21 million (1999)
Exchange rates (Currency (code)) [time series]
Danish krone (DKK)
Debt - external [time series]
$64 million (1999)
Economic aid (Economic aid - recipient) [time series]
$135 million (annual subsidy from Denmark) (1998)
Economic overview (Economy - overview) [time series]
The Faroese economy has had a strong performance since 1994, mostly as a result of increasing fish landings and high and stable export prices. Unemployment is minimal and there are signs of labor shortages in several sectors. The positive economic development has helped the Faroese Home Rule Government produce increasing budget surpluses, which in turn have helped reduce the large public debt, most of it owed to Denmark. However, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the present fishing efforts appear in excess of what is a sustainable level of fishing in the long term. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may eventually lay the basis for a more diversified economy and thus 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 [time series]
242 million kWh (2003)
Electricity - exports [time series]
0 kWh (2003)
Electricity - imports [time series]
0 kWh (2003)
Electricity - production [time series]
260.2 million kWh (2003)
Exchange rates [time series]
Danish kroner per US dollar - 5.9969 (2005), 5.9911 (2004), 6.5877 (2003), 7.8947 (2002), 8.3228 (2001)
Exports [time series]
$533 million f.o.b. (2004 est.)
Exports - commodities [time series]
fish and fish products 94%, stamps, ships (1999)
Exports - partners [time series]
Denmark 38.2%, UK 29.6%, Nigeria 8.9%, Norway 6.1%, Netherlands 4.3% (2005)
Fiscal year [time series]
calendar year
GDP (official exchange rate) [time series]
NA
Real GDP (purchasing power parity) (GDP (purchasing power parity)) [time series]
$1 billion (2001 est.)
GDP - composition, by sector of origin (GDP - composition by sector) [time series]
agriculture: 27% industry: 11% services: 62% (1999)
Real GDP per capita (GDP - per capita (PPP)) [time series]
$22,000 (2001 est.)
Real GDP growth rate (GDP - real growth rate) [time series]
10% (2001 est.)
Household income or consumption by percentage share [time series]
lowest 10%: NA% highest 10%: NA%
Imports [time series]
$639 million c.i.f. (2004 est.)
Imports - commodities [time series]
consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt (1999)
Imports - partners [time series]
Denmark 46.2%, Norway 18.2%, Germany 8.2%, Spain 7.5%, Iceland 4.8% (2005)
Industrial production growth rate [time series]
8% (1999 est.)
Industries [time series]
fishing, fish processing, small ship repair and refurbishment, handicrafts
Inflation rate (consumer prices) [time series]
5.1% (1999)
Labor force [time series]
24,250 (October 2000)
Labor force - by occupation [time series]
agriculture: 33% industry: 33% services: 34%
Natural gas - consumption [time series]
0 cu m (2003 est.)
Natural gas - production [time series]
0 cu m (2003 est.)
Oil - consumption [time series]
4,500 bbl/day (2003 est.)
Oil - exports [time series]
NA bbl/day
Oil - imports [time series]
NA bbl/day
Oil - production [time series]
0 bbl/day (2003 est.)
Population below poverty line [time series]
NA%
Unemployment rate [time series]
1% (October 2000)
Geography
Area [time series]
total: 1,399 sq km land: 1,399 sq km water: 0 sq km (some lakes and streams)
Area - comparative [time series]
eight times the size of Washington, DC
Climate [time series]
mild winters, cool summers; usually overcast; foggy, windy
Coastline [time series]
1,117 km
Elevation (Elevation extremes) [time series]
lowest point: Atlantic Ocean 0 m highest point: Slaettaratindur 882 m
Environment - current issues [time series]
NA
Geographic coordinates [time series]
62 00 N, 7 00 W
Geography - note [time series]
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 [time series]
0 sq km
Land boundaries [time series]
0 km
Land use [time series]
arable land: 2.14% permanent crops: 0% other: 97.86% (2005)
Location [time series]
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 [time series]
Europe
Maritime claims [time series]
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 [time series]
NA
Natural resources [time series]
fish, whales, hydropower, possible oil and gas
Terrain [time series]
rugged, rocky, some low peaks; cliffs along most of coast
Government
Administrative divisions [time series]
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 49 municipalities
Capital [time series]
name: Torshavn geographic coordinates: 62 01 N, 6 46 W time difference: UTC (5 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Constitution [time series]
5 June 1953 (Danish constitution)
Country name [time series]
conventional long form: none conventional short form: Faroe Islands local long form: none local short form: Foroyar
Dependency status [time series]
part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948
Diplomatic representation from the US [time series]
none (self-governing overseas administrative division of Denmark)
Diplomatic representation in the US [time series]
none (self-governing overseas administrative division of Denmark)
Executive branch [time series]
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 (Flag description) [time series]
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 [time series]
NA
Independence [time series]
none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
International organization participation [time series]
Arctic Council, IMO (associate), NC, NIB, UPU
Judicial branch [time series]
none
Legal system [time series]
Danish
Legislative branch [time series]
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%; seats by party - Union Party 7, Social Democratic Party 7, Republican Party 8, 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 February 2009); results - percent of vote by party - NA; seats by party - Republican Party 1, People's Party 1
National holiday [time series]
Olaifest (Olavasoka), 29 July
Political parties (Political parties and leaders) [time series]
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 parties (Political pressure groups and leaders) [time series]
NA
Suffrage [time series]
18 years of age; universal
Introduction
Background [time series]
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.
Military
Manpower available for military service [time series]
males age 18-49: 10,695 (2005 est.)
Manpower fit for military service [time series]
males age 18-49: 8,852 (2005 est.)
Manpower reaching military service age annually [time series]
males age 18-49: 366 (2005 est.)
Military - note [time series]
defense is the responsibility of Denmark
Military and security forces (Military branches) [time series]
no regular military forces
Military expenditures (Military expenditures - percent of GDP) [time series]
NA
People
Age structure [time series]
0-14 years: 20.9% (male 4,940/female 4,952) 15-64 years: 65.1% (male 16,247/female 14,522) 65 years and over: 13.9% (male 2,976/female 3,609) (2006 est.)
Birth rate [time series]
14.05 births/1,000 population (2006 est.)
Death rate [time series]
8.7 deaths/1,000 population (2006 est.)
Ethnic groups [time series]
Scandinavian
HIV/AIDS - adult prevalence rate [time series]
NA
HIV/AIDS - deaths [time series]
NA
HIV/AIDS - people living with HIV/AIDS [time series]
NA
Infant mortality rate [time series]
total: 6.12 deaths/1,000 live births male: 7.4 deaths/1,000 live births female: 4.85 deaths/1,000 live births (2006 est.)
Languages [time series]
Faroese (derived from Old Norse), Danish
Life expectancy at birth [time series]
total population: 79.35 years male: 75.91 years female: 82.8 years (2006 est.)
Literacy [time series]
definition: NA total population: NA% male: NA% female: NA% note: probably 100%, the same as Denmark proper
Median age [time series]
total: 35 years male: 34.7 years female: 35.5 years (2006 est.)
Nationality [time series]
noun: Faroese (singular and plural) adjective: Faroese
Net migration rate [time series]
0.47 migrant(s)/1,000 population (2006 est.)
Population [time series]
47,246 (July 2006 est.)
Population growth rate [time series]
0.58% (2006 est.)
Religions [time series]
Evangelical Lutheran
Sex ratio [time series]
at birth: 1 male(s)/female under 15 years: 1 male(s)/female 15-64 years: 1.12 male(s)/female 65 years and over: 0.83 male(s)/female total population: 1.05 male(s)/female (2006 est.)
Total fertility rate [time series]
2.17 children born/woman (2006 est.)
Transnational Issues
Disputes - international [time series]
because anticipated offshore hydrocarbon resources have not been realized, earlier Faroese proposals for full independence have been deferred; Iceland disputes the Faroe Islands' fisheries median line boundary; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Transportation
Airports [time series]
1 (2006)
Airports - with paved runways [time series]
total: 1 914 to 1,523 m: 1 (2006)
Merchant marine [time series]
total: 18 ships (1000 GRT or over) 19,265 GRT/9,171 DWT by type: cargo 10, container 2, passenger/cargo 4, petroleum tanker 2 foreign-owned: 8 (Iceland 4, Norway 4) (2006)
Ports (Ports and terminals) [time series]
Torshavn
Roadways [time series]
total: 458 km note: no roads between towns (2003)