Statistical information Faroe Islands 1998

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 coordinates: 62 00 N, 7 00 W
Map reference:
EuropeAreaTotal: 1,399 km²
Land: 1,399 km²
Water: 0 km² (some lakes and streams)
Comparative: eight times the size of Washington, DC
Land boundaries: 0 km
Coastline: 1,117 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
ElevationExtremes lowest point: Atlantic Ocean 0 m
Extremes highest point: Slaettaratindur 882 m
Natural resources: fish, whales
Land useArable land: 6%
Permanent crops: 0%
Permanent pastures: 0%
Forests and woodland: 0%
Other: 94% (1996)
Irrigated land: 0 km²
Major riversMajor watersheds area km²Total water withdrawalTotal renewable water resourcesNatural hazards: NA
GeographyNote: 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
top of pagePopulation: 41,834 (July 1998 est.)
Growth rate: -1.72% (1998 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: 23% (male 4,971; female 4,777)
15-64 years: 62% (male 13,896; female 12,034)
65 years and over: 15% (male 2,759; female 3,397) (July 1998 est.)
Dependency ratiosMedian agePopulation growth rate: -1.72% (1998 est.)
Birth rate: 13.08 births/1000 population (1998 est.)
Death rate: 8.84 deaths/1000 population (1998 est.)
Net migration rate: -21.42 migrant(s)/1000 population (1998 est.)
Population distributionUrbanizationMajor urban areasEnvironmentCurrent issues: NA
International agreements party to: NA
International agreements signed but not ratified: NA
Air pollutantsSex ratioAt birth: 1.05 male(s)/female
Under 15 years: 1.04 male(s)/female
15-64 years: 1.15 male(s)/female
65 years and over: 0.81 male(s)/female (1998 est.)
Mothers mean age at first birthMaternal mortality ratioInfant mortality rate: 10.5 deaths/1000 live births (1998 est.)
Life expectancy at birthTotal population: 78.43 years
Male: 75.53 years
Female: 81.45 years (1998 est.)
Total fertility rate: 2.36 children born/woman (1998 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
Note: similar to Denmark proper
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: NA
Capital: Torshavn
Administrative divisions: none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
Dependent areasIndependence: none (part of the Kingdom of Denmark; 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: 18 years of age; universal
Executive branchChief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Bente KLINTE, chief administrative officer (since NA): ead of
Government: Prime Minister Anfinn KALLSBERG (since NA May 1998)
Cabinet: Landsstyri elected by the Faroese Parliament
Elections: the queen is a constitutional monarch; high commissioner appointed by the queen; following legislative elections, the leader of the party that wins the most seats is usually elected prime minister by the Faroese Parliament; election last held NA 1994 (next to be held NA 1998)
Election results: Edmund JOENSEN elected prime minister; percent of parliamentary vote - 23.4%
Legislative branch: unicameral Faroese Parliament or Logting (32 seats; members are elected on a proportional basis from the seven constituencies to serve four-year terms)
Elections: last held 30 April 1998 (next to be held by NA July 2002)
Election results: percent of vote by party_Republicans 23.8%, People's Party 21.3%, Social Democrats 21.9%, Coalition Party (Union Party, Labor Front, Home Rule Party) 15%; seats by party_Republicans 8, People's Party 8, Social Democrats 7, Coalition Party 6, other parties 3
Note: election of 2 seats to the Danish Parliament was last held on 21 September 1994 (next to be held by September 1998); results_percent of vote by party - Unionist Party 22.5%, People's Party 21.7%; seats by party_Unionist Party 1, People's Party 1
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 economy in 1995 and 1996 saw a noticeable upturn after several years of decline brought on by a drop in fish catches and declining prices and by over-spending by the Faroese Home Rule Government (FHRG). In the early 1990s, property values plummeted, and the FHRG had to bail out and merge the two largest Faroese banks. Fishing is now improving; wage costs are increasing; the FHRG's budget is almost in balance; and the large foreign debt has come down significantly. Nevertheless, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the reduction in the foreign debt is at the cost of low investment. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may lay the basis for an eventual economic rebound. The Faroese are supported by a substantial annual subsidy from Denmark.
Real gdp purchasing power parityReal gdp growth rate: 6% (1996 est.)
Real gdp per capita: purchasing power parity: $16,300 (1996 est.)
Gross national savingGdp composition by sector of origin
Gdp composition by end useGdp composition by sector of originAgriculture: 20%
Industry: 16%
Services: 64% (1996 est.)
Agriculture products: milk, potatoes, vegetables; sheep; salmon farming; fish
Industries: fishing, shipbuilding, construction, handicrafts
Industrial production growth rate: NA%
Labor forceTotal: 20,345 (1995 est.)
Note: largely engaged in fishing, transportation and commerce
Unemployment rate: 11% (1996 est.)
Youth unemploymentPopulation below poverty lineGini indexHousehold income or consumption by percentage shareDistribution of family income gini indexBudgetRevenues: $467 million
Expenditures: $468 million, including capital expenditures of $11 million (1996 est.)
Taxes and other revenuesPublic debtRevenueFiscal year: calendar year
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: total value:$362 million (f.o.b., 1995)
Commodoties: fish and fish products 92%, animal feedstuffs, transport equipment (ships)
Partners: Denmark 22.2%, UK 25.8%, Germany 9.7%, France 8.3%, Norway 6.2%, US 2.0%
Imports: total value:$315.6 (c.i.f., 1995)
Commodoties: machinery and transport equipment 17.0%, consumer goods 33%, raw materials and semi-manufactures 26.9%, fuels 11.4%, fish and salt 6.7%
Partners: Denmark 34.5%, Norway 15.9%, UK 8.4% Germany 7.8%, Sweden 5.8%, US 1.5%
Reserves of foreign exchange and goldDebt external: $767 million (1995 est.)
Stock of direct foreign investment at homeStock of direct foreign investment abroadExchange rates: Danish kroner (DKr) per US$1_6.916 (January 1998), 6.604 (1997), 5.799 (1966), 5.602 (1995), 6.361 (1994), 6.484 (1993)
top of pageElectricityCapacity: 91,000 kW (1995)
Production: 200 million kWh (1995)
Consumption per capita: 4,092 kWh (1995)
CoalPetroleumCrude oilRefined petroleumNatural gasCarbon dioxide emissionsEnergy consumption per capitatop of pageTelephones: 26,000 of which about 3,500 are mobile telephones (1996)
Telephone system: good international communications; good domestic facilities
Domestic: digitalization to be completed in 1998
International: satellite earth stations_1 Orion; 1 optical fiber submarine cable linking the Faroe Islands with Denmark and Iceland
Broadcast mediaInternetBroadband fixed subscriptionstop of pageMilitary expendituresDollar figure: $NA
Percent of gdp: NA%
Military and security forcesMilitary service age and obligationSpace programTerrorist groupstop of pageNational air transport systemCivil aircraft registration country code prefixAirports: 1 (1997 est.)
With paved runways total: 1
With paved runways 914 to 1523 m: 1 (1997 est.)
HeliportsPipelinesRailways: 0 km
RoadwaysWaterwaysMerchant marineTotal: 6 ships (1,000 GRT or over) totaling 22,853 GRT/13,481 DWT
Ships by type: cargo 2, oil tanker 1, refrigerated cargo 1, roll-on/roll-off cargo 1, short-sea passenger 1 (1997 est.)
Ports and terminalstop of pageDisputes international: none
Refugees and internally displaced personsIllicit drugs