Faroe Islands
NAIndependence none (part of the Kingdom of Denmark
Faroe Islands as the 2010 edition of the CIA World Factbook published it: 115 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.
No fields match. Try a shorter word.
Introduction
1 fieldBackground
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 granted the Faroese in 1948, who have autonomy over most internal affairs while Denmark is responsible for justice, defense, and foreign affairs. The Faroe Islands are not part of the European Union.
Geography
Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about half way between Iceland and Norway
18 fieldsLand useshare of 1,393 sq km
Location
Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about half way between Iceland and Norway
Environment - international agreements
party to: Marine Dumping - associate member to the London Convention and Ship Pollution
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
People
20 fieldsAge structuremale left, female right · (2010 est.)
Per 1,000 population
Male · female(2010 est.)
Sex ratio
- at birth:
- 1.069 male(s)/female
- under 15 years:
- 1.07 male(s)/female
- 15-64 years:
- 1.15 male(s)/female
- 65 years and over:
- 0.9 male(s)/female
- total population:
- 1.09 male(s)/female (2010 est.)
Government
NA; Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Dan Michael KNUDSEN, chief administrative officer (since 2008); Prime Minister Kaj Leo JOHANNESSEN (since 26 September 2008)
20 fieldsPresidential electionpercent of vote
Faroese Parliament or Logting, 33 seats, elected 19 January 2008one dot, one seat
Percent of vote
Country name
- conventional long form:
- none
- conventional short form:
- Faroe Islands
- local long form:
- none
- local short form:
- Foroyar
Dependency status
part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948
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
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
Independence
none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
Executive branch
- chief of state:
- Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Dan Michael KNUDSEN, chief administrative officer (since 2008)
- head of government:
- Prime Minister Kaj Leo JOHANNESSEN (since 26 September 2008)
- cabinet:
- Landsstyri appointed by the prime minister; (For more information visit theWorld Leaders website)
- elections:
- the monarchy 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 on 19 January 2008 (next to be held no later than January 2012)
- election results:
- Joannes EIDESGAARD elected prime minister in 2008; governing coalition collapses in September 2008, Kaj Leo JOHANNESSEN becomes prime minister
Legislative branch
unicameral Faroese Parliament or Logting (33 seats; members elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms)
- elections:
- last held on 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 19.3%, Republican Party 23.3%, People's Party 20.1%, Center Party 8.4%, Independence Party 7.2%, other 0.7%;
- 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
Political parties and leaders
- Center Party [Jenis av 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]
International organization participation
Arctic Council, IMO (associate), NC, NIB, UNESCO (associate), UPU
Diplomatic representation in the US
none (self-governing overseas administrative division of Denmark)
Diplomatic representation from the US
none (self-governing overseas administrative division of Denmark)
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);
- referred to as Merkid, meaning "the banner" or "the mark," the flag resembles those of neighboring Iceland and Norway, and uses the same three colors - but in a different sequence;
- white represents the clear Faroese sky as well as the foam of the waves;
- red and blue are traditional Faroese colors
National anthem
- name:
- "Mitt alfagra land" (My Fairest Land)
- lyrics/music:
- Simun av SKAROI/Peter ALBERG
note: adopted 1948; the anthem is also known as "Tu alfagra land mitt" (Thou Fairest Land of Mine); as an autonomous overseas division of Denmark, the Faroe Islands are permitted their own national anthem
Economy
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings.
37 fieldsGDP - composition by sector(2007 est.)
Trading partnersexports left, imports right
Electricity
Economy - overview
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. The sector accounts for about 95% of exports and nearly half of GDP. In early 2008 the Faroese economy began to slow as a result of smaller catches and historically high oil prices that continue to trouble the economy.
Though oil prices have come down, reduced catches, especially of cod and haddock, have continued to strain the Faroese economy. GDP grew 0.5% in 2008-09. The slowdown in the Faroese economy followed a strong performance since the mid-1990s with annual growth rates averaging close to 6%, mostly a result of increased fish landings and salmon farming, and high export prices.
Unemployment reached its lowest level in the first half of 2008, but increased to 3.9% in 2009 and is rising. The Faroese Home Rule Government produced increasing budget surpluses that helped to reduce the large public debt, most of it to Denmark. However, total dependence on fishing and salmon farming make the Faroese economy very vulnerable to fluctuations in world demand.
In addition, budget surpluses turned to deficits in 2008-09, and the economy at both the country and local level is running large deficits. Initial discoveries of oil in the Faroese area give hope for eventual oil production, which may provide a foundation for a more diversified economy and less dependence on Danish economic assistance.
Aided by an annual subsidy from Denmark amounting to about 6% of Faroese GDP, the Faroese have a standard of living almost equal to that of Denmark and Greenland.
Imports - commodities
consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt
Exchange rates
Danish kroner (DKK) per US dollar - 5.774 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006)
Communications
7 fieldsTelephone system
- general assessment:
- good international communications; good domestic facilities
- domestic:
- conversion to digital system 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
Broadcast media
- 1 publicly-owned TV station;
- the Faroese telecommunications company distributes local and international channels through its digital terrestrial network;
- publicly-owned radio station supplemented by 2 privately-owned stations broadcasting over multiple frequencies (2008)
Transportation
5 fieldsMerchant marine, 26 ships by typeone square, one ship
Military
No regular military forces
6 fieldsTransnational Issues
1 fieldDisputes - 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
Cite this entry
Central Intelligence Agency. “Faroe Islands.” The World Factbook 2010. Archived by The Factbook, thefactbook.org/faroe-islands/2010.