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.

Map reference: Arctic Region

Area
Total: 1,400 km²
Land: 1,400 km²

Land boundaries: 0 km

Coastline: 764 km
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

Natural resources: fish

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

Irrigated land: NA km²

Population: 48,065 (July 1993 est.)
Growth rate: 0.67% (1993 est.)

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

Ethnic groups: Scandinavian

Languages: Faroese (derived from Old Norse), Danish
Total population: NA%
Male: NA%
Female: NA%

Religions: Evangelical Lutheran

Population growth rate: 0.67% (1993 est.)

Birth rate: 18.45 births/1000 population (1993 est.)

Death rate: 7.57 deaths/1000 population (1993 est.)

Net migration rate: -4.2 migrant(s)/1000 population (1993 est.)

Environment
Current issues: precipitous terrain limits habitation to small coastal lowlands; archipelago of 18 inhabited islands and a few uninhabited islets
Current issues note:

Infant mortality rate: 8.3 deaths/1000 live births (1993 est.)

Life expectancy at birth
Total population: 77.92 years
Male: 74.51 years
Female: 81.45 years (1993 est.)

Total fertility rate: 2.52 children born/woman (1993 est.)

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)

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

Constitution: Danish

Legal system: Danish

Suffrage: 20 years of age; universal

Executive branch: Danish monarch, high commissioner, prime minister, deputy prime minister, Cabinet (Landsstyri)

Legislative branch: unicameral Parliament (Lgting)

Judicial branch: none

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 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)

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 nearly $30,000. 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% 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 growth rate: 3% (1989 est.)

Real gdp per capita: $14,000 (1989 est.)

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

Industries: fishing, shipbuilding, handicrafts

Industrial production growth rate: growth rate NA%

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

Unemployment rate: 5%-6% (1991 est.)

Budget: revenues $425 million; expenditures $480 million, including capital expenditures of $NA (1991 est.)

Fiscal year: 1 April - 31 March

Exports: $386 million (f.o.b., 1990 est.)
Commodoties: fish and fish products 88%, animal feedstuffs, transport equipment (ships) (1989)
Partners:

Imports: $322 million (c.i.f., 1990 est.) 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%

Exchange rates: Danish kroner (DKr) per US$1 - 6.236 (January 1993), 6.036 (1992), 6.396 (1991), 6.189 (1990), 7.310 (1989), 6.732 (1988)

Electricity
Production: 80,000 kW capacity; 280 million kWh produced, 5,760 kWh per capita (1992)

Airports: 1
Usable: 1
With permanentsurface runways: 1
With runways over 3659 m: 0
With runways 2440-3659 m: 0
With runways 1220-2439 m: 1

Merchant marine:

Disputes international: none