Faroe Islands

part of the Danish realmIndependence none (part of the Danish realm

Faroe Islands as the 1993 edition of the CIA World Factbook published it: 73 fields, one of 36 editions from 1990 to 2025.

field in that editiontext changed from the edition beforenot in that editionthe open editionEach field below ends in its editions, 1990 to 2025. Point at a year above to follow it down.

CapitalTorshavn

Area1,400 km2

Locationin the north Atlantic Ocean, located half way between Norway and Iceland

Populationas each edition published it

48,065 people July 1993 est. · 47,715 in 1990

Population growth% a year

0.67% 1993 est. · 0.62% in 2025

Median ageyears

Not in this edition 35.1 yrs in 2003

Life expectancyyears at birth

77.92 years 1993 est. · 81.7 yrs in 2025

Fertility ratechildren per woman

2.52 children per woman 1993 est. · 2.2 in 1990

Infant mortalitydeaths per 1,000 live births

8.3 deaths per 1,000 live births 1993 est. · 9 in 1990

GDP per capitaeach edition's own dollars

$14,000 1989 est. · $70,400 in 2025

GDP real growth% a year

3% 1989 est. · 2.5% in 2025

Geography

In the north Atlantic Ocean, located half way between Norway and Iceland

14 fields

Land useshare of 1,400 km2

arable land 2%forest and woodland 0%other 98%permanent crops 0% in all · meadows and pastures 0% in all

Area

1,400km2

land area: 1,400 km2comparative area: slightly less than eight times the size of Washington, DC

Coastline

764km

land boundaries: 0 kmexclusive fishing zone: 200 nmterritorial sea: 3 nm

Location

in the north Atlantic Ocean, located half way between Norway and Iceland

Climate

mild winters, cool summers;
usually overcast;
foggy, windy

Terrain

rugged, rocky, some low peaks; cliffs along most of coast

Environment

precipitous terrain limits habitation to small coastal lowlands; archipelago of 18 inhabited islands and a few uninhabited islets

Note

strategically located along important sea lanes in northeastern Atlantic

People

14 fields

Population

48,065

(July 1993 est.)growth rate: 0.67% (1993 est.)

Per 1,000 population(1993 est.)

Birth

18.45Death

7.57Net migration

-4.2

Labor force

17,585

by occupation: largely engaged in fishing, manufacturing, transportation, and commerce

Infant mortality rate

8.3 deaths/1,000 live births (1993 est.)

Life expectancy at birth

total population:: 77.92 years
male:: 74.51 years
female:: 81.45 years (1993 est.)

Nationality

noun:: Faroese (singular and plural)
adjective:: Faroese

Languages

Faroese (derived from Old Norse), Danish

Literacy

total population:: NA%
male:: NA%
female:: NA%

Government

Part of the Danish realm

20 fields

Presidential electionpercent of vote

27.4%

Social Democratic 27.4%People's Party 21.9%Cooperation Coalition Party 18.9%Republican Party 14.7%Home Rule 8.8%PFIP-CPP 5.9%other 2.4%

Names

conventional long form:: none
conventional short form:
Faroe Islands local long form:: none
local short form:: Foroyar

Type

part of the Danish realm; self-governing overseas administrative division of Denmark

Administrative divisions

none (self-governing overseas administrative division of Denmark)

Independence

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

Political parties and leaders

three-party ruling coalition:: Social Democratic Party, Marita PETERSEN;
Republican Party, Signer HANSEN;
Home Rule Party, Hilmar KASS
opposition:: Cooperation Coalition Party, Pauli ELLEFSEN;
Progressive and Fishing Industry Party-Christian People's Party (PFIP-CPP), leader NA;
Progress Party, leader NA;
People's Party, Jogvan SUND-STEIN

Elections

Danish Parliament:: last held on 12 December 1990 (next to be held by December 1994);
results - percent of vote by party NA;
seats - (2 total) Social Democratic 1, People's Party 1;
note - the Faroe Islands elects two representatives to the Danish Parliament
Faroese Parliament:: last held 17 November 1990 (next to be held November 1994);
results - Social Democratic 27.4%, People's Party 21.9%, Cooperation Coalition Party 18.9%, Republican Party 14.7%, Home Rule 8.8%, PFIP-CPP 5.9%, other 2.4%;
seats - (32 total) two-party coalition 17 (Social Democratic 10, People's Party 7), Cooperation Coalition Party 6, Republican Party 4, Home Rule 3, PFIP-CPP 2

Executive branch

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

Leaders

Chief of State:: Queen MARGRETHE II (since 14 January 1972), represented by High Commissioner Bent KLINTE (since NA)
Head of Government:: Prime Minister Marita PETERSEN (since 18 January 1993)

Diplomatic representation in US

none (self-governing overseas administrative division of Denmark)

US diplomatic representation

none (self-governing overseas administrative division of Denmark)

Flag

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

18 fields

GDP per capita, PPP

$14,000

(1989 est.)

Real growth rate

(1989 est.)industrial production growth: growth rate NA%

Inflation, consumer prices

(1988)

Unemployment rate

-6% (1991 est.)

Budget

Revenues

$425 millionExpenditures

$480 million

expenditures, including capital expenditures of $NA (1991 est.)

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.

National product

GDP - purchasing power equivalent - $662 million (1989 est.)

Exports

$386 million (f.o.b., 1990 est.)

commodities:: fish and fish products 88%, animal feedstuffs, transport equipment (ships) (1989)
partners:: Denmark 20%, Germany 18.3%, UK 14.2%, France 11.2%, Spain 7.9%, US 4.5%

Imports

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

commodities:: machinery and transport equipment 24.4%, manufactures 24%, 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%

External debt

$1.3 billion (1991)

Electricity

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

Industries

fishing, shipbuilding, handicrafts

Agriculture

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

Economic aid

receives an annual subsidy from Denmark of about $130 million

Currency

1 Danish krone (DKr) = 100 ore

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)

Fiscal year

1 April - 31 March

Communications

5 fields

Merchant marine, 10 ships by typeone square, one ship

short-sea passenger 1cargo 5roll-on/roll-off 2refrigerated cargo; note - a subset of the Danish register 210 ships (1,000 GRT or over) totaling 22,015 GRT/24,007 DWT