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Compare Faroe Islands (2008) - Bahamas, The (2008)

Compare Faroe Islands (2008) z Bahamas, The (2008)

 Faroe Islands (2008)Bahamas, The (2008)
 Faroe IslandsBahamas, The
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 21 districts; Acklins and Crooked Islands, Bimini, Cat Island, Exuma, Freeport, Fresh Creek, Governor's Harbour, Green Turtle Cay, Harbour Island, High Rock, Inagua, Kemps Bay, Long Island, Marsh Harbour, Mayaguana, New Providence, Nichollstown and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador and Rum Cay
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.)
0-14 years: 27% (male 41,268/female 41,186)


15-64 years: 66.5% (male 99,961/female 103,230)


65 years and over: 6.5% (male 8,176/female 11,834) (2007 est.)
Agriculture - products milk, potatoes, vegetables; sheep; salmon, other fish citrus, vegetables; poultry
Airports 1 (2007) 62 (2007)
Airports - with paved runways total: 1


914 to 1,523 m: 1 (2007)
total: 24


over 3,047 m: 2


2,438 to 3,047 m: 3


1,524 to 2,437 m: 12


914 to 1,523 m: 7 (2007)
Airports - with unpaved runways - total: 38


1,524 to 2,437 m: 5


914 to 1,523 m: 11


under 914 m: 22 (2007)
Area total: 1,399 sq km


land: 1,399 sq km


water: 0 sq km (some lakes and streams)
total: 13,940 sq km


land: 10,070 sq km


water: 3,870 sq km
Area - comparative eight times the size of Washington, DC slightly smaller than Connecticut
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. Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.
Birth rate 14.12 births/1,000 population (2007 est.) 17.3 births/1,000 population (2007 est.)
Budget revenues: $588 million


expenditures: $623 million (2005)
revenues: $1.03 billion


expenditures: $1.03 billion (FY04/05)
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
name: Nassau


geographic coordinates: 25 05 N, 77 21 W


time difference: UTC-5 (same time as Washington, DC during Standard Time)


daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November
Climate mild winters, cool summers; usually overcast; foggy, windy tropical marine; moderated by warm waters of Gulf Stream
Coastline 1,117 km 3,542 km
Constitution 5 June 1953 (Danish constitution) 10 July 1973
Country name conventional long form: none


conventional short form: Faroe Islands


local long form: none


local short form: Foroyar
conventional long form: Commonwealth of The Bahamas


conventional short form: The Bahamas
Death rate 8.69 deaths/1,000 population (2007 est.) 9.13 deaths/1,000 population (2007 est.)
Debt - external $64 million (1999) $342.6 million (2004 est.)
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) chief of mission: Ambassador Ned L. SIEGEL


embassy: 42 Queen Street, Nassau


mailing address: local or express mail address: P. O. Box N-8197, Nassau; US Department of State, 3370 Nassau Place, Washington, DC 20521-3370


telephone: [1] (242) 322-1181, 356-3229 (after hours)


FAX: [1] (242) 356-0222
Diplomatic representation in the US none (self-governing overseas administrative division of Denmark) chief of mission: Ambassador Cornelius A. SMITH


chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008


telephone: [1] (202) 319-2660


FAX: [1] (202) 319-2668


consulate(s) general: Miami, New York
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 disagrees with the US on the alignment of a potential maritime boundary; continues to monitor and interdict drug dealers and Haitian refugees in Bahamian waters
Economic aid - recipient $105 million; note - annual subsidy from Denmark (2005) $4.78 million (2004)
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. The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals have been on the decline since 2006. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture combined contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
Electricity - consumption 269.7 million kWh (2005) 1.762 billion kWh (2005)
Electricity - exports 0 kWh (2005) 0 kWh (2005)
Electricity - imports 0 kWh (2005) 0 kWh (2005)
Electricity - production 290 million kWh (2005) 1.894 billion kWh (2005)
Elevation extremes lowest point: Atlantic Ocean 0 m


highest point: Slaettaratindur 882 m
lowest point: Atlantic Ocean 0 m


highest point: Mount Alvernia, on Cat Island 63 m
Environment - current issues NA coral reef decay; solid waste disposal
Environment - international agreements party to: Marine Dumping -associate member to the London Convention and Ship Pollution party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands


signed, but not ratified: none of the selected agreements
Ethnic groups Scandinavian black 85%, white 12%, Asian and Hispanic 3%
Exchange rates Danish kroner per US dollar - 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004), 6.5877 (2003) Bahamian dollars per US dollar - 1 (2007), 1 (2006), 1 (2005), 1 (2004), 1 (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
chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor General Arthur D. HANNA (since 1 February 2006)


head of government: Prime Minister Hubert A. INGRAHAM (since 4 May 2007)


cabinet: Cabinet appointed by the governor general on the prime minister's recommendation


elections: none; the monarch is hereditary; governor general appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the governor general; the prime minister recommends the deputy prime minister
Exports 0 bbl/day (2004) transshipments of 41,290 bbl/day (2004)
Exports - commodities fish and fish products 94%, stamps, ships (1999) mineral products and salt, animal products, rum, chemicals, fruit and vegetables
Exports - partners Denmark 31%, UK 27.4%, Norway 10.3%, Nigeria 9.5%, Netherlands 5.6% (2006) Spain 22.3%, US 19.8%, Poland 13.5%, Germany 13%, UK 5.7%, Guatemala 4.9% (2006)
Fiscal year calendar year 1 July - 30 June
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) three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side
GDP - composition by sector agriculture: 27%


industry: 11%


services: 62% (1999)
agriculture: 3%


industry: 7%


services: 90% (2001 est.)
GDP - real growth rate 2.4% (2005 est.) 2.8% (2007 est.)
Geographic coordinates 62 00 N, 7 00 W 24 15 N, 76 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 strategic location adjacent to US and Cuba; extensive island chain of which 30 are inhabited
Heliports - 1 (2007)
Household income or consumption by percentage share lowest 10%: NA%


highest 10%: NA%
lowest 10%: NA%


highest 10%: 27% (2000)
Illicit drugs - transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center
Imports 4,580 bbl/day (2004) 68,250 bbl/day (2004)
Imports - commodities consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt (1999) machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
Imports - partners Denmark 52.6%, Norway 20.7%, Iceland 6.1%, Sweden 4.3% (2006) US 24.7%, Brazil 15.7%, Japan 13.1%, South Korea 7.8%, Spain 6.2% (2006)
Independence none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark) 10 July 1973 (from UK)
Industrial production growth rate 8% (1999 est.) NA%
Industries fishing, fish processing, small ship repair and refurbishment, handicrafts tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe
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.)
total: 24.17 deaths/1,000 live births


male: 29.58 deaths/1,000 live births


female: 18.65 deaths/1,000 live births (2007 est.)
Inflation rate (consumer prices) 1.8% (2005) 2.4% (2007 est.)
International organization participation Arctic Council, IMO (associate), NC, NIB, UPU ACP, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICCt (signatory), ICFTU, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO (observer)
Irrigated land 0 sq km 10 sq km (2003)
Judicial branch none Privy Council (London); Courts of Appeal; Supreme (lower) Court; magistrates courts
Labor force 24,250 (October 2000) 181,900 (2006)
Labor force - by occupation agriculture: 33%


industry: 33%


services: 34% (October 2000)
agriculture 5%, industry 5%, tourism 50%, other services 40% (2005 est.)
Land boundaries 0 km 0 km
Land use arable land: 2.14%


permanent crops: 0%


other: 97.86% (2005)
arable land: 0.58%


permanent crops: 0.29%


other: 99.13% (2005)
Languages Faroese (derived from Old Norse), Danish English (official), Creole (among Haitian immigrants)
Legal system the laws of Denmark, where applicable, apply based on English common law
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
bicameral Parliament consists of the Senate (16 seats; members appointed by the governor general upon the advice of the prime minister and the opposition leader to serve five-year terms) and the House of Assembly (41 seats; members elected by direct popular vote to serve five-year terms); the government may dissolve the Parliament and call elections at any time


elections: last held 2 May 2007 (next to be called by May 2012)


election results: percent of vote by party - FNM 49.86%, PLP 47.02%; seats by party - FNM 23, PLP 18
Life expectancy at birth total population: 79.49 years


male: 76.06 years


female: 82.93 years (2007 est.)
total population: 65.66 years


male: 62.37 years


female: 69.02 years (2007 est.)
Literacy definition: NA


total population: NA%


male: NA%


female: NA%


note: probably 100%, the same as Denmark proper
definition: age 15 and over can read and write


total population: 95.6%


male: 94.7%


female: 96.5% (2003 est.)
Location Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba
Map references Europe Central America and the Caribbean
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
territorial sea: 12 nm


exclusive economic zone: 200 nm
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)
total: 1,213 ships (1000 GRT or over) 40,403,455 GRT/54,276,183 DWT


by type: barge carrier 1, bulk carrier 225, cargo 240, chemical tanker 84, combination ore/oil 13, container 72, liquefied gas 49, livestock carrier 2, passenger 117, passenger/cargo 34, petroleum tanker 196, refrigerated cargo 118, roll on/roll off 18, specialized tanker 4, specialized tanker 1, vehicle carrier 39


foreign-owned: 1,134 (Angola 6, Australia 3, Belgium 15, Bermuda 12, Brazil 1, Canada 13, China 9, Croatia 1, Cuba 1, Cyprus 20, Denmark 66, Finland 8, France 43, Germany 40, Greece 214, Hong Kong 3, Iceland 1, Indonesia 3, Ireland 2, Italy 1, Japan 62, Jordan 2, Kenya 1, Malaysia 11, Monaco 11, Montenegro 2, Netherlands 24, Nigeria 2, Norway 232, Philippines 1, Poland 15, Russia 5, Saudi Arabia 15, Singapore 9, Slovenia 1, South Africa 1, Spain 11, Sweden 5, Switzerland 2, Taiwan 1, Thailand 1, Trinidad and Tobago 1, Turkey 5, UAE 20, UK 68, US 162, Uruguay 1, Venezuela 1)


registered in other countries: 3 (Barbados 1, Panama 2) (2007)
Military - note defense is the responsibility of Denmark -
Military branches no regular military forces Royal Bahamian Defense Force: Land Force, Navy, Air Wing (2007)
Military expenditures - percent of GDP NA 0.5% (2006)
National holiday Olaifest (Olavasoka), 29 July Independence Day, 10 July (1973)
Nationality noun: Faroese (singular and plural)


adjective: Faroese
noun: Bahamian(s)


adjective: Bahamian
Natural hazards NA hurricanes and other tropical storms cause extensive flood and wind damage
Natural resources fish, whales, hydropower, possible oil and gas salt, aragonite, timber, arable land
Net migration rate 0 migrant(s)/1,000 population (2007 est.) -2.15 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] Free National Movement or FNM [Hubert INGRAHAM]; Progressive Liberal Party or PLP [Perry CHRISTIE]
Political pressure groups and leaders NA NA
Population 47,511 (July 2007 est.) 305,655


note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality and death rates, lower population and growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2007 est.)
Population below poverty line NA% 9.3% (2004)
Population growth rate 0.543% (2007 est.) 0.602% (2007 est.)
Radio broadcast stations AM 1, FM 13, shortwave 0 (1998) AM 3, FM 5, shortwave 0 (2006)
Religions Evangelical Lutheran Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)
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.)
at birth: 1.02 male(s)/female


under 15 years: 1.002 male(s)/female


15-64 years: 0.968 male(s)/female


65 years and over: 0.691 male(s)/female


total population: 0.956 male(s)/female (2007 est.)
Suffrage 18 years of age; universal 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
general assessment: modern facilities


domestic: totally automatic system; highly developed; the Bahamas Domestic Submarine Network links 14 of the islands and is designed to satisfy increasing demand for voice and broadband internet services


international: country code - 1-242; landing point for the Americas Region Caribbean Ring System (ARCOS-1) fiber-optic submarine cable that provides links to South and Central America, parts of the Caribbean, and the US; satellite earth station - 2 (2007)
Telephones - main lines in use 23,000 (2006) 133,100 (2005)
Telephones - mobile cellular 50,000 (2006) 227,800 (2005)
Television broadcast stations 3 (plus 43 repeaters) (September 1995) 2 (2006)
Terrain rugged, rocky, some low peaks; cliffs along most of coast long, flat coral formations with some low rounded hills
Total fertility rate 2.15 children born/woman (2007 est.) 2.15 children born/woman (2007 est.)
Unemployment rate 2.1% (2006) 7.6% (2006 est.)
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