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Faroe Islands (2005)

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Faroe Islands 2005 year

 Faroe Islands
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 49 municipalities
Age structure 0-14 years: 21.3% (male 4,997/female 4,999)

15-64 years: 64.9% (male 16,120/female 14,360)

65 years and over: 13.8% (male 2,923/female 3,563) (2005 est.)
Agriculture - products milk, potatoes, vegetables; sheep; salmon, other fish
Airports 1 (2004 est.)
Airports - with paved runways total: 1

914 to 1,523 m: 1 (2004 est.)
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 13.97 births/1,000 population (2005 est.)
Budget revenues: $488 million

expenditures: $484 million, including capital expenditures of $21 million (1999)
Capital Torshavn
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 (2005 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 disputes the Faroe Islands' fisheries median line boundary; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Economic aid - recipient $135 million (annual subsidy from Denmark) (1998)
Economy - overview The Faroese economy has had a strong performance since 1994, mostly as a result of increasing fish landings and high and stable export prices. Unemployment is minimal and there are signs of labor shortages in several sectors. The positive economic development has helped the Faroese Home Rule Government produce increasing budget surpluses, which in turn has helped to reduce the large public debt, most of it owed to Denmark. However, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the present fishing efforts appear in excess of what is a sustainable level of fishing in the long term. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may eventually lay the basis for a more diversified economy and thus lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.
Electricity - consumption 204.6 million kWh (2002)
Electricity - exports 0 kWh (2002)
Electricity - imports 0 kWh (2002)
Electricity - production 220 million kWh (2002)
Elevation extremes lowest point: Atlantic Ocean 0 m

highest point: Slaettaratindur 882 m
Environment - current issues NA
Ethnic groups Scandinavian
Exchange rates Danish kroner per US dollar - 5.9911 (2004), 6.5877 (2003), 7.8947 (2002), 8.3228 (2001), 8.0831 (2000)
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%

note: coalition of Social Democrats, Union Party, and People's Party
Exports 0 kWh (2002)
Exports $408 million f.o.b. (2002)
Exports NA
Exports - commodities fish and fish products 94%, stamps, ships (1999)
Exports - partners Denmark 33.5%, UK 29.7%, Norway 8.4%, Nigeria 7.2% (2004)
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 - per capita purchasing power parity - $22,000 (2001 est.)
GDP - real growth rate 10% (2001 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
Highways total: 463 km

paved: 454 km

unpaved: 9 km (1999)
Household income or consumption by percentage share lowest 10%: NA%

highest 10%: NA%
Imports 0 kWh (2002)
Imports $466 million c.i.f. (2002)
Imports NA
Imports - commodities machinery and transport equipment 29%, consumer goods 36%, raw materials and semi-manufactures 32%, fuels, fish and salt (1999)
Imports - partners Denmark 52.8%, Norway 18.3%, Iceland 4.4%, Sweden 4.2% (2004)
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: 6.24 deaths/1,000 live births

male: 7.54 deaths/1,000 live births

female: 4.93 deaths/1,000 live births (2005 est.)
Inflation rate (consumer prices) 5.1% (1999)
International organization participation IMO (associate), NC, NIB, UPU
Irrigated land 0 sq km (1998 est.)
Judicial branch none
Labor force 24,250 (October 2000)
Labor force - by occupation fishing, fish processing, and manufacturing 33%, construction and private services 33%, public services 34%
Land boundaries 0 km
Land use arable land: 2.14%

permanent crops: 0%

other: 97.86% (2001)
Languages Faroese (derived from Old Norse), Danish
Legal system Danish
Legislative branch unicameral Faroese Parliament or Logting (32 seats; members are elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms)

elections: last held 20 January 2004 (next to be held no later than January 2008)

election results: percent of vote by party - Union Party 23.7%, Social Democrats 21.8%, Republican Party 21.7%, People's Party 20.6%, Center Party 5.2%, Independence Party 4.6%; seats by party - Union Party 7, Social Democrats 7, Republican Party 8, People's Party 7, Center Party 2, Independence Party 1

note: election of 2 seats to the Danish Parliament was last held on 8 February 2005 (next to be held February 2009); results - percent of vote by party - NA; seats by party - Republican Party 1, People's Party 1
Life expectancy at birth total population: 79.21 years

male: 75.77 years

female: 82.67 years (2005 est.)
Literacy definition: NA

total population: NA%

male: NA%

female: NA%

note: probably 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: 14 ships (1,000 GRT or over) 24,051 GRT/11,998 DWT

by type: cargo 6, container 1, passenger/cargo 5, petroleum tanker 2

foreign-owned: 8 (Denmark 2, Germany 1, Iceland 2, Norway 2, United Kingdom 1) (2005)
Military - note defense is the responsibility of Denmark
Military branches no regular military forces
Military expenditures - dollar figure $NA
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 0.94 migrant(s)/1,000 population (2005 est.)
Political parties and leaders Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Anfinn KALLSBERG]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Kaj Oeo JOHANNESEN]
Political pressure groups and leaders NA
Population 46,962 (July 2005 est.)
Population below poverty line NA%
Population growth rate 0.62% (2005 est.)
Ports and harbors Torshavn
Radio broadcast stations AM 1, FM 13, shortwave 0 (1998)
Religions Evangelical Lutheran
Sex ratio at birth: 1 male(s)/female

under 15 years: 1 male(s)/female

15-64 years: 1.12 male(s)/female

65 years and over: 0.82 male(s)/female

total population: 1.05 male(s)/female (2005 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 (2002)
Telephones - mobile cellular 30,700 (2002)
Television broadcast stations 3 (plus 43 low-power repeaters) (September 1995)
Terrain rugged, rocky, some low peaks; cliffs along most of coast
Total fertility rate 2.2 children born/woman (2005 est.)
Unemployment rate 1% (October 2000)
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