ARCHIVE // FO // 2015

Faroe Islands

2015 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 [time series]
total: 44,000 | percent of population: 88.2% (2014 est.) | country comparison to the world: 188
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: 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 (2011)
Telephones - fixed lines [time series]
total subscriptions: 17,300 | subscriptions per 100 inhabitants: 35 (2014 est.) | country comparison to the world: 189
Telephones - mobile cellular [time series]
total: 61,400 | subscriptions per 100 inhabitants: 123 (2014 est.) | country comparison to the world: 199
Broadcast media (Television broadcast stations) [time series]
3 (plus 43 repeaters) (September 1995)
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)
Budget surplus (+) or deficit (-) [time series]
-11.9% of GDP (2010 est.) | country comparison to the world: 209
Debt - external [time series]
$888.8 million (2010) | $68.1 million (2006) | country comparison to the world: 168
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% but gradually increased to about 5.5% in 2012. 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 gross external debt had reached approximately US$900 million.
Exchange rates [time series]
Danish kroner (DKK) per US dollar - | 5.6125 (2011) | 5.3687 (2011) | 5.79 (2012 est.) | 5.3687 (2011 est.) | 5.6241 (2010 est.)
Exports [time series]
$824 million (2010) | $767 million (2009) | country comparison to the world: 165
Exports - commodities [time series]
fish and fish products 94%, stamps, ships (2009 est.)
Exports - partners [time series]
UK 21.8%, Denmark 18.8%, Russia 11.9%, Nigeria 10.9%, US 9.5%, China 7.2%, Netherlands 6% (2014)
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.) | $1.389 billion (2008 est.) | country comparison to the world: 198
GDP - composition, by sector of origin [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: 57
Real GDP growth rate (GDP - real growth rate) [time series]
2.9% (2010 est.) | 0.5% (2008 est.) | country comparison to the world: 115
Household income or consumption by percentage share [time series]
lowest 10%: NA% | highest 10%: NA%
Imports [time series]
$776 million (2010) | $786 million (2009) | country comparison to the world: 187
Imports - commodities [time series]
goods for household consumption, machinery and transport equipment, fuels, raw materials and semi-manufactures, salt
Imports - partners [time series]
Denmark 45.5%, Norway 27.7%, Germany 5%, Iceland 4.4%, Sweden 4.1% (2014)
Industrial production growth rate [time series]
3.4% (2009 est.) | country comparison to the world: 79
Industries [time series]
fishing, fish processing, small ship repair and refurbishment, handicrafts
Inflation rate (consumer prices) [time series]
2.3% (2011) | 0.4% (2010) | country comparison to the world: 111
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 est.) | country comparison to the world: 27
Unemployment rate [time series]
5.5% (2012) | 6.8% (2011) | country comparison to the world: 58
Energy
Carbon dioxide emissions (Carbon dioxide emissions from consumption of energy) [time series]
753,400 Mt (2012 est.) | country comparison to the world: 172
Crude oil - exports [time series]
0 bbl/day (2012 est.) | country comparison to the world: 126
Crude oil - imports [time series]
0 bbl/day (2012 est.) | country comparison to the world: 191
Crude oil - production [time series]
0 bbl/day (2014 est.) | country comparison to the world: 137
Crude oil - proved reserves [time series]
0 bbl (1 January 2015 est.) | country comparison to the world: 135
Electricity - consumption [time series]
261.3 million kWh (2012 est.) | country comparison to the world: 186
Electricity - exports [time series]
0 kWh (2013 est.) | country comparison to the world: 139
Electricity - from fossil fuels [time series]
60.1% of total installed capacity (2012 est.) | country comparison to the world: 134
Electricity - from hydroelectric plants [time series]
36.1% of total installed capacity (2012 est.) | country comparison to the world: 63
Electricity - from nuclear fuels [time series]
0% of total installed capacity (2012 est.) | country comparison to the world: 93
Electricity - from other renewable sources [time series]
3.8% of total installed capacity (2012 est.) | country comparison to the world: 66
Electricity - imports [time series]
0 kWh (2013 est.) | country comparison to the world: 150
Electricity - installed generating capacity [time series]
108,100 kW (2012 est.) | country comparison to the world: 173
Electricity - production [time series]
281 million kWh (2012 est.) | country comparison to the world: 181
Natural gas - consumption [time series]
0 cu m (2013 est.) | country comparison to the world: 144
Natural gas - exports [time series]
0 cu m (2013 est.) | country comparison to the world: 99
Natural gas - imports [time series]
0 cu m (2013 est.) | country comparison to the world: 197
Natural gas - production [time series]
0 cu m (2013 est.) | country comparison to the world: 188
Natural gas - proved reserves [time series]
0 cu m (1 January 2014 est.) | country comparison to the world: 139
Refined petroleum products - consumption [time series]
4,900 bbl/day (2013 est.) | country comparison to the world: 170
Refined petroleum products - exports [time series]
0 bbl/day (2012 est.) | country comparison to the world: 178
Refined petroleum products - imports [time series]
4,879 bbl/day (2012 est.) | country comparison to the world: 162
Refined petroleum products - production [time series]
0 bbl/day (2012 est.) | country comparison to the world: 183
Geography
Area [time series]
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 [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 (2011)
Land boundaries [time series]
0 km
Land use [time series]
agricultural land: 2.1% | arable land 2.1%; permanent crops 0%; permanent pasture 0% | forest: 0.1% | other: 97.8% (2011 est.)
Location [time series]
Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about halfway 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
Citizenship [time series]
see Denmark
Constitution [time series]
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 (2015)
Country name [time series]
conventional long form: none | conventional short form: Faroe Islands | local long form: none | local short form: Foroyar | etymology: the archipelgo's name may derive from the Old Norse word "faer," meaning sheep
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 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 14 November 2011 (next to be held no later than November 2015) | election results: Aksel V. JOHANNESEN elected prime minister; Parliament 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); 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]
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) | note: election of 2 seats to the Danish Parliament was last held on 1 September 2015 (next to be held no later than September 2019); percent of vote by party - NA; seats by party - Social Democratic Party 1, Republic 1 | elections: last held on 1 September 2015 (next to be held no later than October 2019) | election results: percent of vote by party - Social Democratic Party 25.1%, Republic 20.7%, People's Party, 18.9%, Union Party 18.7%, Progressive Party 7.0%, Center Party 5.5%, Self-Government Party 4.1%; seats by party - Social Democratic Party 8, Republic 7, People's Party 6, Union Party 6, Progressive Party 2, Center Party 2, Self-Government Party 2
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; national colors: red, white, blue
Political parties (Political parties and leaders) [time series]
Center Party (Midflokkurin) [Jenis av RANA] | Independence (or Self-Govenment) Party (Sjalvstyrisflokkurin) [Jogvan SKORHEIM] | People's Party (Folkaflokkurin) [Jorgen NICLASEN] | Progressive Party (Framsokn) [Poul MICHELSEN] | Republic (Tjodveldi) (formerly the Republican Party) [Hogni HOYDAL] | Self-Government Party [Kari P. HOJGAARD] | Social Democratic Party (Javnadarflokkurin) [Aksel JOHANNESEN] | Union Party (Sambandsflokkurin) [Kaj Leo JOHANNESEN]
Political parties (Political pressure groups and leaders) [time series]
other: 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)
People and Society
Age structure [time series]
0-14 years: 20.1% (male 5,224/female 4,866) | 15-24 years: 14.96% (male 3,848/female 3,662) | 25-54 years: 37.04% (male 10,090/female 8,502) | 55-64 years: 11.73% (male 3,033/female 2,854) | 65 years and over: 16.17% (male 3,926/female 4,191) (2015 est.)
Birth rate [time series]
13.77 births/1,000 population (2015 est.) | country comparison to the world: 142
Death rate [time series]
8.71 deaths/1,000 population (2015 est.) | country comparison to the world: 72
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
Hospital bed density [time series]
4.7 beds/1,000 population (2012)
Infant mortality rate [time series]
total: 5.6 deaths/1,000 live births | male: 5.86 deaths/1,000 live births | female: 5.32 deaths/1,000 live births (2015 est.) | country comparison to the world: 170
Languages [time series]
Faroese (derived from Old Norse), Danish
Life expectancy at birth [time series]
total population: 80.24 years | male: 77.73 years | female: 82.93 years (2015 est.) | country comparison to the world: 37
Major urban areas - population [time series]
TORSHAVN (capital) 21,000 (2014)
Median age [time series]
total: 37.7 years | male: 37.1 years | female: 38.4 years (2015 est.)
Nationality [time series]
noun: Faroese (singular and plural) | adjective: Faroese
Net migration rate [time series]
0 migrant(s)/1,000 population (2015 est.) | country comparison to the world: 97
Population [time series]
50,196 (July 2015 est.) | country comparison to the world: 212
Population growth rate [time series]
0.51% (2015 est.) | country comparison to the world: 158
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 | 0-14 years: 1.07 male(s)/female | 15-24 years: 1.05 male(s)/female | 25-54 years: 1.19 male(s)/female | 55-64 years: 1.06 male(s)/female | 65 years and over: 0.94 male(s)/female | total population: 1.09 male(s)/female (2015 est.)
Total fertility rate [time series]
2.37 children born/woman (2015 est.) | country comparison to the world: 84
Urbanization [time series]
urban population: 42% of total population (2015) | rate of urbanization: 0.47% 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 (2013) | country comparison to the world: 217
Airports - with paved runways [time series]
total: 1 | 1,524 to 2,437 m: 1 (2013)
Merchant marine [time series]
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: 79
Ports (Ports and terminals) [time series]
major seaport(s): Fuglafjordur, Torshavn, Vagur
Roadways [time series]
total: 463 km (2006) | country comparison to the world: 197