Statistical information Faroe Islands 1995

Faroe Islands in the World
top of pageBackground: 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.
top of pageLocation: Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway
Geographic coordinatesMap reference:
EuropeAreaTotal 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 claimsExclusive 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
ElevationNatural resources: fish
Land useArable land: 2%
Permanent crops: 0%
Meadows and pastures: 0%
Forest and woodland: 0%
Other: 98%
Irrigated land: NA km²
Major riversMajor watersheds area km²Total water withdrawalTotal renewable water resourcesNatural hazardsGeographyNote: defense is the responsibility of Denmark
top of pagePopulation: 48,871 (July 1995 est.)
Growth rate: 0.99% (1995 est.)
NationalityNoun: Faroese (singular and plural)
Adjective: Faroese
Ethnic groups: Scandinavian
Languages: Faroese (derived from Old Norse), Danish
Religions: Evangelical Lutheran
Demographic profileAge structure0-14 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 ratiosMedian agePopulation 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 distributionUrbanizationMajor urban areasEnvironmentCurrent issues: NA
Current issues natural hazards: NA
Current issues international agreements: NA
Air pollutantsSex ratioMothers mean age at first birthMaternal mortality ratioInfant mortality rate: 7.9 deaths/1000 live births (1995 est.)
Life expectancy at birthTotal 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 rateDrinking water sourceCurrent health expenditurePhysicians densityHospital bed densitySanitation facility accessHiv/AidsMajor infectious diseasesObesity adult prevalence rateAlcohol consumptionTobacco useChildren under the age of 5 years underweightEducation expendituresLiteracy: NA%
School life expectancy primary to tertiary educationYouth unemploymenttop of pageCountry nameConventional 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 areasIndependence: 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 participationCitizenshipSuffrage: 20 years of age; universal
Executive branchChief 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 leadersInternational organization participation: none
Diplomatic representationIn the us: none (self-governing overseas administrative division of Denmark)
From the us: none (self-governing overseas administrative division of Denmark)
Flag description
: 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 symbolsNational anthemNational heritagetop of pageEconomy 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 parityReal gdp growth rate: -10.8% (1993 est.)
Real gdp per capita: $14,000 (1989 est.)
Gross national savingGdp composition by sector of origin
Gdp composition by end useGdp composition by sector of originAgriculture 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
Unemployment rate: 23% (1993)
Youth unemploymentPopulation below poverty lineGini indexHousehold income or consumption by percentage shareDistribution of family income gini indexBudgetRevenues: $407.2 million
Expenditures: $482.7 million, including capital expenditures of $NA (1993 est.)
Taxes and other revenuesPublic debtRevenueFiscal year: 1 April - 31 March
Inflation rate consumer pricesCentral bank discount rateCommercial bank prime lending rateStock of narrow moneyStock of broad moneyStock of domestic creditMarket value of publicly traded sharesCurrent account balanceExports: $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 goldDebt external: $1.2 billion (1993 est.)
Stock of direct foreign investment at homeStock of direct foreign investment abroadExchange 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)
top of pageElectricityCapacity: 90,000 kW
Production: 200 million kWh
Production consumption per capita: 3,953 kWh (1992)
CoalPetroleumCrude oilRefined petroleumNatural gasCarbon dioxide emissionsEnergy consumption per capitatop of pageTelephonesTelephone system: 27,900 telephones; good international communications; fair domestic facilities
Local: NA
Intercity: NA
International: 3 coaxial submarine cables
Broadcast mediaInternetBroadband fixed subscriptionstop of pageMilitary expenditures: $NA, NA% of GDP
Military and security forcesMilitary service age and obligationSpace programTerrorist groupstop of pageNational air transport systemCivil aircraft registration country code prefixAirports: 1
With paved runways 914 to 1523 m: 1
HeliportsPipelinesRailwaysRoadwaysWaterwaysMerchant marineTotal: 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 terminalstop of pageDisputes international: none
Refugees and internally displaced personsIllicit drugs