Faroe Islands (2008)

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Faroe Islands 2008 year


Administrative divisions	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
Age structure	0-14 years: 20.6% (male 4,882/female 4,904) 15-64 years: 65.3% (male 16,353/female 14,668) 65 years and over: 14.1% (male 3,041/female 3,663) (2007 est.)
Agriculture - products	milk, potatoes, vegetables; sheep; salmon, other fish
Airports	1 (2007)
Airports - with paved runways	total: 1 914 to 1,523 m: 1 (2007)
Area	total: 1,399 sq km land: 1,399 sq km water: 0 sq km (some lakes and streams)
Area - comparative	eight times the size of Washington, DC
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.
Birth rate	14.12 births/1,000 population (2007 est.)
Budget	revenues: $588 million expenditures: $623 million (2005)
Capital	name: Torshavn geographic coordinates: 62 01 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
Climate	mild winters, cool summers; usually overcast; foggy, windy
Coastline	1,117 km
Constitution	5 June 1953 (Danish constitution)
Country name	conventional long form: none conventional short form: Faroe Islands local long form: none local short form: Foroyar
Death rate	8.69 deaths/1,000 population (2007 est.)
Debt - external	$64 million (1999)
Dependency status	part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948
Diplomatic representation from the US	none (self-governing overseas administrative division of Denmark)
Diplomatic representation in the US	none (self-governing overseas administrative division of Denmark)
Disputes - international	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
Economic aid - recipient	$105 million; note - annual subsidy from Denmark (2005)
Economy - overview	The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. Since 2003 the Faroese economy has picked up as a result of higher prices for fish and for housing. Unemployment is minimal and government finances are relatively sound. Oil finds close to the Islands give hope for economically recoverable deposits, which could eventually lay the basis for a more diversified economy and lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (about 15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.
Electricity - consumption	269.7 million kWh (2005)
Electricity - exports	0 kWh (2005)
Electricity - imports	0 kWh (2005)
Electricity - production	290 million kWh (2005)
Elevation extremes	lowest point: Atlantic Ocean 0 m highest point: Slaettaratindur 882 m
Environment - current issues	NA
Environment - international agreements	party to: Marine Dumping -associate member to the London Convention and Ship Pollution
Ethnic groups	Scandinavian
Exchange rates	Danish kroner per US dollar - 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004), 6.5877 (2003)
Executive branch	chief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Birgit KLEIS, chief administrative officer (since 1 November 2001) head of government: Prime Minister Joannes EIDESGAARD (since 3 February 2004) cabinet: Landsstyri appointed by the prime minister elections: the monarch is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually elected prime minister by the Faroese Parliament; election last held 20 January 2004 (next to be held no later than January 2008) election results: Joannes EIDESGAARD elected prime minister; percent of parliamentary vote - NA
Exports	0 kWh (2005)
Exports	$634 million f.o.b. (2006)
Exports	0 cu m (2005 est.)
Exports	0 bbl/day (2004)
Exports - commodities	fish and fish products 94%, stamps, ships (1999)
Exports - partners	Denmark 31%, UK 27.4%, Norway 10.3%, Nigeria 9.5%, Netherlands 5.6% (2006)
Fiscal year	calendar year
Flag description	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)
GDP - composition by sector	agriculture: 27% industry: 11% services: 62% (1999)
GDP - real growth rate	2.4% (2005 est.)
Geographic coordinates	62 00 N, 7 00 W
Geography - note	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
Household income or consumption by percentage share	lowest 10%: NA% highest 10%: NA%
Imports	0 kWh (2005)
Imports	$751 million c.i.f. (2006)
Imports	0 cu m (2005)
Imports	4,580 bbl/day (2004)
Imports - commodities	consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt (1999)
Imports - partners	Denmark 52.6%, Norway 20.7%, Iceland 6.1%, Sweden 4.3% (2006)
Independence	none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
Industrial production growth rate	8% (1999 est.)
Industries	fishing, fish processing, small ship repair and refurbishment, handicrafts
Infant mortality rate	total: 6.01 deaths/1,000 live births male: 7.25 deaths/1,000 live births female: 4.76 deaths/1,000 live births (2007 est.)
Inflation rate (consumer prices)	1.8% (2005)
International organization participation	Arctic Council, IMO (associate), NC, NIB, UPU
Irrigated land	0 sq km
Judicial branch	none
Labor force	24,250 (October 2000)
Labor force - by occupation	agriculture: 33% industry: 33% services: 34% (October 2000)
Land boundaries	0 km
Land use	arable land: 2.14% permanent crops: 0% other: 97.86% (2005)
Languages	Faroese (derived from Old Norse), Danish
Legal system	the laws of Denmark, where applicable, apply
Legislative branch	unicameral Faroese Parliament or Logting (33 seats; members are elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms) elections: last held 19 January 2008 (next to be held no later than January 2012) election results: percent of vote by party - Union Party 21%, Social Democratic Party 19.4%, Republican Party 23.3%, People's Party 20.1%, Center Party 8.4%, Self-Government Party 7.2%, other 0.6%; seats by party - Republican Party 8, Union Party 7, Social Democratic Party 6, People's Party 7, Center Party 3, Independence Party 2 note: election of two seats to the Danish Parliament was last held on 13 November 2007 (next to be held no later than November 2011); results - percent of vote by party - NA; seats by party - Republican Party 1, Union Party 1
Life expectancy at birth	total population: 79.49 years male: 76.06 years female: 82.93 years (2007 est.)
Literacy	definition: NA total population: NA% male: NA% female: NA% note: probably 100%, the same as Denmark proper
Location	Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway
Map references	Europe
Maritime claims	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
Merchant marine	total: 16 ships (1000 GRT or over) 92,454 GRT/63,291 DWT by type: cargo 10, container 2, passenger/cargo 3, petroleum tanker 1 foreign-owned: 8 (Iceland 4, Norway 4) (2007)
Military - note	defense is the responsibility of Denmark
Military branches	no regular military forces
Military expenditures - percent of GDP	NA
National holiday	Olaifest (Olavasoka), 29 July
Nationality	noun: Faroese (singular and plural) adjective: Faroese
Natural hazards	NA
Natural resources	fish, whales, hydropower, possible oil and gas
Net migration rate	0 migrant(s)/1,000 population (2007 est.)
Political parties and leaders	Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Jorgen NICLASEN]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Kaj Leo JOHANNESEN]
Political pressure groups and leaders	NA
Population	47,511 (July 2007 est.)
Population below poverty line	NA%
Population growth rate	0.543% (2007 est.)
Radio broadcast stations	AM 1, FM 13, shortwave 0 (1998)
Religions	Evangelical Lutheran
Sex ratio	at birth: 1 male(s)/female under 15 years: 0.996 male(s)/female 15-64 years: 1.115 male(s)/female 65 years and over: 0.83 male(s)/female total population: 1.045 male(s)/female (2007 est.)
Suffrage	18 years of age; universal
Telephone system	general assessment: good international communications; good domestic facilities domestic: digitalization was 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
Telephones - main lines in use	23,000 (2006)
Telephones - mobile cellular	50,000 (2006)
Television broadcast stations	3 (plus 43 repeaters) (September 1995)
Terrain	rugged, rocky, some low peaks; cliffs along most of coast
Total fertility rate	2.15 children born/woman (2007 est.)
Unemployment rate	2.1% (2006)

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