ARCHIVE // FO // 2012

Faroe Islands

2012 Edition — territory

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Communications
Broadcast media [time series]
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 2 privately-owned stations broadcasting over multiple frequencies (2008)
Internet country code [time series]
.fo
Internet users (Internet hosts) [time series]
7,575 (2012) country comparison to the world: 140
Internet users [time series]
37,500 (2009) country comparison to the world: 176
Telecommunication systems (Telephone system) [time series]
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
Telephones - fixed lines (Telephones - main lines in use) [time series]
20,200 (2009) country comparison to the world: 189
Telephones - mobile cellular [time series]
59,400 (2009) country comparison to the world: 198
Economy
Agricultural products (Agriculture - products) [time series]
milk, potatoes, vegetables; sheep; salmon, other fish
Budget [time series]
revenues: $1.025 billion expenditures: $1.301 billion note: Denmark supplies the Faroe Islands with almost one-third of their public funds (2010 est.)
Budget surplus (+) or deficit (-) [time series]
-11.9% of GDP (2010 est.) country comparison to the world: 207
Debt - external [time series]
$888.8 million (2010) country comparison to the world: 160 $68.1 million (2006)
Economic overview (Economy - overview) [time series]
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price fluctuations. The sector normally accounts for about 95% of exports and nearly half of GDP. In early 2008 the Faroese economy began to slow as a result of smaller catches and historically high oil prices. The slowdown in the Faroese economy followed a strong performance since the mid-1990s with annual growth rates averaging close to 6%, mostly a result of increased fish landings and salmon farming, and high export prices. Unemployment reached its lowest level in June 2008 at 1.1%. The Faroese Home Rule Government produced increasing budget surpluses in that period, which helped to reduce the large public debt, most of it to Denmark. However, total dependence on fishing and salmon farming make the Faroese economy vulnerable to fluctuations in world demand. Initial discoveries of oil in the Faroese area give hope for eventual oil production, which may provide a foundation for a more diversified economy and less dependence on Danish economic assistance. Aided by an annual subsidy from Denmark amounting to about 3% of Faroese GDP, the Faroese have a standard of living almost equal to that of Denmark and Greenland. The Faroese Government ran relatively large deficits from 2008 to 2010 and budget deficits are forecast for several years ahead. At year-end 2010 the gross debt had reached approximately US$900 million.
Exchange rates [time series]
Danish kroner (DKK) per US dollar - 5.847 (2011) 5.6241 (2011 est.) 5.6241 (2010) 5.361 (2009) 5.0236 (2008)
Exports [time series]
$824 million (2010) country comparison to the world: 162 $767 million (2009)
Exports - commodities [time series]
fish and fish products 94%, stamps, ships
Exports - partners [time series]
Denmark 27.2%, UK 22.7%, US 12.3%, Nigeria 12.1%, Netherlands 7.8%, Norway 4.5% (2011)
Fiscal year [time series]
calendar year
GDP (official exchange rate) [time series]
$2.32 billion (2010 est.)
Real GDP (purchasing power parity) (GDP (purchasing power parity)) [time series]
$1.471 billion (2010 est.) country comparison to the world: 197 $1.389 billion (2008 est.)
GDP - composition, by sector of origin (GDP - composition by sector) [time series]
agriculture: 16% industry: 29% services: 55% (2007 est.)
Real GDP per capita (GDP - per capita (PPP)) [time series]
$30,500 (2008 est.) country comparison to the world: 43
Real GDP growth rate (GDP - real growth rate) [time series]
2.9% (2010 est.) country comparison to the world: 116 0.5% (2008 est.)
Household income or consumption by percentage share [time series]
lowest 10%: NA% highest 10%: NA%
Imports [time series]
$776 million (2010) country comparison to the world: 184 $786 million (2009)
Imports - commodities [time series]
goods for household consumption 24%, machinery and transport equipment 23.5%, fuels 21.4%, raw materials and semi-manufactures, salt
Imports - partners [time series]
Denmark 49.6%, Norway 29%, Iceland 4.1% (2011)
Industrial production growth rate [time series]
3.4% (2009 est.) country comparison to the world: 90
Inflation rate (consumer prices) [time series]
2.3% (2011) country comparison to the world: 41 0.4% (2010)
Labor force [time series]
34,710 (November 2010) country comparison to the world: 202
Labor force - by occupation [time series]
agriculture: 10.7% industry: 18.9% services: 70.3% (November 2010)
Population below poverty line [time series]
NA%
Taxes and other revenues [time series]
44.2% of GDP (2010) country comparison to the world: 37
Unemployment rate [time series]
6.8% (2011) country comparison to the world: 72 5.7% (2010)
Energy
Carbon dioxide emissions (Carbon dioxide emissions from consumption of energy) [time series]
744,400 Mt (2010 est.) country comparison to the world: 174
Crude oil - exports [time series]
0 bbl/day (2009 est.) country comparison to the world: 114
Crude oil - imports [time series]
0 bbl/day (2009 est.) country comparison to the world: 185
Crude oil - production [time series]
0 bbl/day (2011 est.) country comparison to the world: 136
Crude oil - proved reserves [time series]
0 bbl (1 January 2012 est.) country comparison to the world: 134
Electricity - consumption [time series]
268.8 million kWh (2010 est.) country comparison to the world: 179
Electricity - exports [time series]
0 kWh (2010 est.) country comparison to the world: 196
Electricity - from fossil fuels [time series]
64.9% of total installed capacity (2009 est.) country comparison to the world: 130
Electricity - from hydroelectric plants [time series]
31% of total installed capacity (2009 est.) country comparison to the world: 75
Electricity - from nuclear fuels [time series]
0% of total installed capacity (2009 est.) country comparison to the world: 90
Electricity - from other renewable sources [time series]
4.1% of total installed capacity (2009 est.) country comparison to the world: 42
Electricity - imports [time series]
0 kWh (2010 est.) country comparison to the world: 188
Electricity - installed generating capacity [time series]
100,100 kW (2009 est.) country comparison to the world: 169
Electricity - production [time series]
280.3 million kWh (2010 est.) country comparison to the world: 173
Natural gas - consumption [time series]
0 cu m (2010 est.) country comparison to the world: 145
Natural gas - exports [time series]
0 cu m (2010 est.) country comparison to the world: 198
Natural gas - imports [time series]
0 cu m (2010 est.) country comparison to the world: 196
Natural gas - production [time series]
0 cu m (2010 est.) country comparison to the world: 131
Natural gas - proved reserves [time series]
0 cu m (1 January 2012 est.) country comparison to the world: 139
Refined petroleum products - consumption [time series]
4,871 bbl/day (2011 est.) country comparison to the world: 171
Refined petroleum products - exports [time series]
0 bbl/day (2008 est.) country comparison to the world: 178
Refined petroleum products - imports [time series]
4,859 bbl/day (2008 est.) country comparison to the world: 158
Refined petroleum products - production [time series]
0 bbl/day (2008 est.) country comparison to the world: 148
Geography
Area [time series]
total: 1,393 sq km country comparison to the world: 183 land: 1,393 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
International environmental agreements (Environment - international agreements) [time series]
party to: Marine Dumping - associate member to the London Convention and Ship Pollution
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 half way between Iceland and 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 34 municipalities
Capital [time series]
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
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 Dan Michael KNUDSEN, chief administrative officer (since 2008) head of government: Prime Minister Kaj Leo JOHANNESSEN (since 26 September 2008) cabinet: Landsstyri appointed by the prime minister (For more information visit theWorld Leaders website) elections: the monarchy 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 on 14 November 2011 (next to be held no later than November 2015) election results: Kaj Leo JOHANNESSEN re-elected prime minister in 2011
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); 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
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, UNESCO (associate), UPU
Judicial branch [time series]
The Faroese Court or Raett (Rett (Danish)) decides both civil and criminal cases; the Court is part of the Danish legal system
Legal system [time series]
the laws of Denmark, where applicable, apply
Legislative branch [time series]
unicameral Faroese Parliament or Logting (33 seats; members elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms) elections: last held on 29 October 2011 (next to be held no later than October 2015) election results: percent of vote by party - Union Party 24.7%, People's Party 22.5%, Republican Party 18.3%, Social Democratic Party 17.7%, Progressive Party 6.3%, Center Party 6.2%, Independence Party 4.2%, other 0.1%; seats by party - Union Party 8, People's Party 8, Republican Party 6, Social Democratic Party 6, Progressive Party 2, Center Party 2, Independence Party 1 note: election of two seats to the Danish Parliament was last held on 15 September 2011 (next to be held no later than September 2015); results - percent of vote by party - NA; seats by party - Social Democratic Party 1, Union Party 1
National anthem(s) (National anthem) [time series]
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 an autonomous overseas division of Denmark, the Faroe Islands are permitted their own national anthem
National holiday [time series]
Olaifest (Olavsoka), 29 July
National symbol(s) [time series]
ram
Political parties (Political parties and leaders) [time series]
Center Party (Midflokkurin) [Jenis av RANA]; Independence Party (Sjalvstyrisflokkurin) [Kari P. HOJGAARD]; People's Party (Folkaflokkurin) [Jorgen NICLASEN];Progressive Party (Framsokn) [Poul MICHELSEN];; Republican Party (Tjodveldi) [Hogni HOYDAL]; Social Democratic Party (Javnadarflokkurin) [Aksel JOHANNESEN]; Union Party (Sambandsflokkurin) [Kaj Leo JOHANNESEN]
Political parties (Political pressure groups and leaders) [time series]
conservationists
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 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
Manpower available for military service [time series]
males age 16-49: 11,831 (2010 est.)
Manpower fit for military service [time series]
males age 16-49: 9,827 females age 16-49: 8,418 (2010 est.)
Manpower reaching militarily significant age annually [time series]
male: 372 female: 373 (2010 est.)
Military - note [time series]
defense is the responsibility of Denmark
Military and security forces (Military branches) [time series]
no regular military forces (2012)
Military expenditures [time series]
NA
People and Society
Age structure [time series]
0-14 years: 20.6% (male 5,312/ female 4,906) 15-64 years: 64.3% (male 16,884/ female 14,915) 65 years and over: 15.1% (male 3,592/ female 3,874) (2012 est.)
Birth rate [time series]
13.14 births/1,000 population (2012 est.) country comparison to the world: 151
Death rate [time series]
8.67 deaths/1,000 population (July 2012 est.) country comparison to the world: 76
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: 5.94 deaths/1,000 live births country comparison to the world: 174 male: 6.19 deaths/1,000 live births female: 5.67 deaths/1,000 live births (2012 est.)
Languages [time series]
Faroese (derived from Old Norse), Danish
Life expectancy at birth [time series]
total population: 79.85 years country comparison to the world: 34 male: 77.37 years female: 82.5 years (2012 est.)
Literacy [time series]
NA; note - probably 99%, the same as Denmark proper
Median age [time series]
total: 37.3 years male: 36.7 years female: 38.1 years (2012 est.)
Nationality [time series]
noun: Faroese (singular and plural) adjective: Faroese
Net migration rate [time series]
0 migrant(s)/1,000 population (2012 est.) country comparison to the world: 84
Population [time series]
49,483 (July 2012 est.) country comparison to the world: 210
Population growth rate [time series]
0.447% (2012 est.) country comparison to the world: 154
Religions [time series]
Evangelical Lutheran 83.8%, other and unspecified 16.2% (2006 census)
Sex ratio [time series]
at birth: 1.07 male(s)/female under 15 years: 1.08 male(s)/female 15-64 years: 1.13 male(s)/female 65 years and over: 0.93 male(s)/female total population: 1.09 male(s)/female (2011 est.)
Total fertility rate [time series]
2.4 children born/woman (2012 est.) country comparison to the world: 92
Youth unemployment rate (ages 15-24) (Unemployment, youth ages 15-24) [time series]
total: 9.4% country comparison to the world: 105 male: 6.9% female: 12.5% (2005)
Urbanization [time series]
urban population: 40% of total population (2010) rate of urbanization: 0.9% annual rate of change (2010-15 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, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Transportation
Airports [time series]
1 (2012) country comparison to the world: 223
Airports - with paved runways [time series]
total: 1 1,524 to 2,437 m: 1 (2012)
Merchant marine [time series]
total: 37 country comparison to the world: 79 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)
Ports (Ports and terminals) [time series]
Fuglafjordur, Torshavn, Vagur
Roadways [time series]
total: 463 km (2006) country comparison to the world: 196