Faroe Islands 1995Faroe%20Islands

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Faroe Islands
Faroe Islands 

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Faroe Islands - Introduction 1995
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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 attained in 1948.


Faroe Islands - Geography 1995
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Location: Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway

Geographic coordinates

Map referenceEurope

Area
Total area total: 1,400 km²
Land: 1,400 km²
Comparative: slightly less than eight times the size of Washington, DC

Land boundaries: 0 km

Coastline: 764 km

Maritime claims
Exclusive fishing zone: 200 nm
Territorial sea: 3 nm

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

Terrain: rugged, rocky, some low peaks; cliffs along most of coast

Elevation

Natural resources: fish
Land use

Land use
Arable land: 2%
Permanent crops: 0%
Meadows and pastures: 0%
Forest and woodland: 0%
Other: 98%

Irrigated land: NA km²

Major rivers

Major watersheds area km²

Total water withdrawal

Total renewable water resources

Natural hazards

Geography
Note: defense is the responsibility of Denmark


Faroe Islands - People 1995
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Population: 48,871 (July 1995 est.)
Growth rate: 0.99% (1995 est.)

Nationality
Noun: Faroese (singular and plural)
Adjective: Faroese

Ethnic groups: Scandinavian

Languages: Faroese (derived from Old Norse), Danish

Religions: Evangelical Lutheran

Demographic profile
Age structure

Age structure
0-14 years: 24% (female 5,673; male 6,119)
15-64 years: 63% (female 14,164; male 16,835)
65 years and over: 13% (female 3,335; male 2,745) (July 1995 est.)

Dependency ratios

Median age

Population growth rate: 0.99% (1995 est.)

Birth rate: 17.54 births/1000 population (1995 est.)

Death rate: 7.59 deaths/1000 population (1995 est.)

Net migration rate: 0 migrant(s)/1000 population (1995 est.)

Population distribution

Urbanization

Major urban areas

Environment
Current issues: NA
Current issues natural hazards: NA
Current issues international agreements: NA

Air pollutants

Sex ratio

Mothers mean age at first birth

Maternal mortality ratio

Infant mortality rate: 7.9 deaths/1000 live births (1995 est.)

Life expectancy at birth
Total population: 78.29 years
Male: 74.91 years
Female: 81.8 years (1995 est.)

Total fertility rate: 2.42 children born/woman (1995 est.)

Contraceptive prevalence rate

Drinking water source

Current health expenditure

Physicians density

Hospital bed density

Sanitation facility access

Hiv/Aids

Major infectious diseases

Obesity adult prevalence rate

Alcohol consumption

Tobacco use

Children under the age of 5 years underweight

Education expenditures

Literacy: NA%

School life expectancy primary to tertiary education

Youth unemployment


Faroe Islands - Government 1995
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Country name
Conventional long form: none
Conventional short form: Faroe Islands
Local long form: none
Local short form: Foroyar

Government type: part of the Danish realm; self-governing overseas administrative division of Denmark

Capital: Torshavn

Administrative divisions: none (self-governing overseas administrative division of Denmark)

Dependent areas

Independence: none (part of the Danish realm; self-governing overseas administrative division of Denmark)

National holiday: Birthday of the Queen, 16 April (1940)

Constitution: 5 June 1953 (Danish constitution)

Legal system: Danish

International law organization participation

Citizenship

Suffrage: 20 years of age; universal

Executive branch
Chief of state: Queen MARGRETHE II (since 14 January 1972), represented by High Commissioner Bent KLINTE (since NA)
Head of government: Prime Minister Edmund JOENSEN (since 15 September 1994)
Cabinet: Landsstyri; elected by the local legislature

Legislative branch: unicameral
Faroese Parliament Logting: elections last held 8 July 1994 (next to be held by July 1998); results - percent of vote by party NA; seats - (32 total) Liberal Party 8, People's Party 6, Social Democrats 5, Republicans 4, Workers' Party 3, Christian Democrats 2, Center Party 2, Home Rule Party 2
Danish Parliament: elections last held on 21 September 1994 (next to be held by September 1998); results - percent of vote by party NA; seats - (2 total) Liberals 2

Judicial branch: none

Political parties and leaders

International organization participation: none

Diplomatic representation
In the us: none (self-governing overseas administrative division of Denmark)
From the us: none (self-governing overseas administrative division of Denmark)

Flag descriptionflag of Faroe%20Islands: white with a red cross outlined in blue that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the DANNEBROG (Danish flag)

National symbols

National anthem

National heritage


Faroe Islands - Economy 1995
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Economy overview: The Faroese, who have long enjoyed the affluent living standards of the Danes and other Scandinavians, now must cope with the decline of the all-important fishing industry and one of the world's heaviest per capita external debts of about $25,000. When the nations of the world extended their fishing zones to 200 nautical miles in the early 1970s, the Faroese no longer could continue their traditional long-distance fishing and subsequently depleted their own nearby fishing areas. The government's tight controls on fish stocks and its austerity measures have caused a recession, and subsidy cuts will force nationalization in the fishing industry, which has already been plagued with bankruptcies. Copenhagen has threatened to withhold its annual subsidy of $130 million - roughly one-third of the islands' budget revenues - unless the Faroese make significant efforts to balance their budget. To this extent the Faroe government is expected to continue its tough policies, including introducing a 20% value-added tax (VAT) in 1993, and has agreed to an IMF economic-political stabilization plan. In addition to its annual subsidy, the Danish government has bailed out the second largest Faroe bank to the tune of $140 million since October 1992.

Real gdp purchasing power parity

Real gdp growth rate: -10.8% (1993 est.)

Real gdp per capita ppp

Gross national saving
Gdp composition by sector of origin

Gdp composition by end use

Gdp composition by sector of origin

Agriculture products: accounts for 27% of GDP; principal crops - potatoes and vegetables; livestock - sheep; annual fish catch about 360,000 metric tons

Industries: fishing, shipbuilding, handicrafts

Industrial production growth rate: NA%

Labor force: 17,585
Note: largely engaged in fishing, transportation and commerce
Labor force

Unemployment rate: 23% (1993)

Youth unemployment

Population below poverty line

Gini index

Household income or consumption by percentage share

Distribution of family income gini index

Budget
Revenues: $407.2 million
Expenditures: $482.7 million, including capital expenditures of $NA (1993 est.)

Public debt

Taxes and other revenues

Revenue

Fiscal year: 1 April - 31 March

Current account balance

Inflation rate consumer prices

Central bank discount rate

Commercial bank prime lending rate

Stock of narrow money

Stock of broad money

Stock of domestic credit

Market value of publicly traded shares

Current account balance

Exports: $345.3 million (f.o.b., 1993 est.)
Commodoties: fish and fish products 88%, animal feedstuffs, transport equipment (ships) (1989)
Partners: Denmark 20%, Germany 18.3%, UK 14.2%, France 11.2%, Spain 7.9%, US 4.5%

Imports: $234.4 million (c.i.f., 1993 est.)
Commodoties: machinery and transport equipment 24.4%, manufactures 24%, food and livestock 19%, fuels 12%, chemicals 6.5%
Partners: Denmark 43.8%, Norway 19.8%, Sweden 4.9%, Germany 4.2%, US 1.3%

Reserves of foreign exchange and gold

Debt external: $1.2 billion (1993 est.)

Stock of direct foreign investment at home

Stock of direct foreign investment abroad

Exchange rates: Danish kroner (DKr) per US$1 - 6.034 (January 1995), 6.361 (1994), 6.484 (1993), 6.036 (1992), 6.396 (1991), 6.189 (1990)


Faroe Islands - Energy 1995
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Electricity access

Electricity production: 200 million kWh
Consumption per capita: 3,953 kWh (1992)

Electricity consumption

Electricity exports

Electricity imports

Electricity installed generating capacity

Electricity transmission distribution losses

Electricity generation sources

Petroleum

Refined petroleum

Natural gas

Carbon dioxide emissions

Energy consumption per capita


Faroe Islands - Communication 1995
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Telephones fixed lines

Telephones mobile cellular

Telephone system: 27,900 telephones; good international communications; fair domestic facilities
Local: NA
Intercity: NA
International: 3 coaxial submarine cables

Broadcast media

Internet country code

Internet users

Broadband fixed subscriptions


Faroe Islands - Military 1995
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Military expenditures: $NA, NA% of GDP

Military and security forces

Military service age and obligation

Terrorist groups


Faroe Islands - Transportation 1995
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National air transport system

Civil aircraft registration country code prefix

Airports: 1
With paved runways 914 to 1523 m: 1

Airports with paved runways
914 to 1523 m: 1

Airports with unpaved runways

Heliports

Pipelines

Railways

Roadways

Waterways

Merchant marine
Total: 7 ships (1,000 GRT or over) totaling 19,879 GRT/18,444 DWT
Ships by type: cargo 5, roll-on/roll-off cargo 1, short-sea passenger 1

Ports and terminals


Faroe Islands - Transnational issues 1995
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Disputes international: none

Refugees and internally displaced persons

Illicit drugs


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