Faroe Islands
NAIndependence none (part of the Kingdom of Denmark
Faroe Islands as the 2014 edition of the CIA World Factbook published it: 131 fields, one of 36 editions from 1990 to 2025.
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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 and Society
23 fieldsAge structuremale left, female right · (2014 est.)
Per 1,000 population(2014 est.)
Male · female
Sex ratio
- at birth:
- 1.07 male(s)/female
- 0-14 years:
- 1.08 male(s)/female
- 15-24 years:
- 1.07 male(s)/female
- 25-54 years:
- 1.18 male(s)/female
- 55-64 years:
- 1.09 male(s)/female
- 65 years and over:
- 0.93 male(s)/female
- total population:
- 1.09 male(s)/female (2014 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)
21 fieldsPresidential electionpercent of vote
Faroese Parliament or Logting, 33 seats, elected 29 October 2011one 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 00 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)
Constitution
5 June 1953 (Danish Constitution), 23 March 1948 (Home Rule Act), and 24 June 2005 (Takeover Act ) serve as the Faroe Islands’ constitutional position in the Unity of the Realm (2013)
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 14 November 2011 (next to be held no later than November 2015)
- election results:
- Kaj Leo JOHANNESSEN reelected prime minister in 2011
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 29 October 2011 (next to be held no later than October 2015)
- election results:
- percent of vote by party - Union Party 24.7%, People's Party 22.5%, Republican Party 18.3%, Social Democratic Party 17.7%, Progressive Party 6.3%, Center Party 6.2%, Independence Party 4.2%, other 0.1%;
- seats by party - Union Party 8, People's Party 8, Republican Party 6, Social Democratic Party 6, Progressive Party 2, Center Party 2, Independence Party 1
note: election of two seats to the Danish Parliament was last held on 15 September 2011 (next to be held no later than September 2015); results - percent of vote by party - NA; seats by party - Social Democratic Party 1,
Union Party 1
Judicial branch
the Faroese Court or Raett (Rett - Danish) decides both civil and criminal cases; the Court is part of the Danish legal system
Political parties and leaders
- Center Party (Midflokkurin) [Jenis av RANA]
- Independence Party (Sjalvstyrisflokkurin) [Kari P. HOJGAARD]
- People's Party (Folkaflokkurin) [Jorgen NICLASEN]
- Progressive Party (Framsokn) [Poul MICHELSEN]
- Republican Party (Tjodveldi) [Hogni HOYDAL]
- Social Democratic Party (Javnadarflokkurin) [Aksel JOHANNESEN]
- Union Party (Sambandsflokkurin) [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 fluctuations.
27 fieldsGDP - composition, by sector of origin(2007 est.)
Trading partnersexports left, imports right
Economy - overview
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price fluctuations. The sector normally 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.
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 June 2008 at 1.1% but gradually increased to about 5.5% in 2012.
The Faroese Home Rule Government produced increasing budget surpluses in that period, which helped to reduce the large public debt, most of it to Denmark. However, total dependence on fishing and salmon farming make the Faroese economy vulnerable to fluctuations in world demand. 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 3% of Faroese GDP, the Faroese have a standard of living almost equal to that of Denmark and Greenland. The Faroese Government ran relatively large deficits from 2008 to 2010 and budget deficits are forecast for several years ahead. At year-end 2010 gross external debt had reached approximately US$900 million.
Imports - commodities
goods for household consumption 24%, machinery and transport equipment 23.5%, fuels 21.4%, raw materials and semi-manufactures, salt
Exchange rates
Danish kroner (DKK) per US dollar - 5.695 (2011) · 5.6241 (2011 est.) · 5.6241 (2010 est.) · 5.361 (2009) · 5.0236 (2008)
Energy
23 fieldsInstalled generating capacity, 100,100 kW(2010 est.)
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 (2011)
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, 37 ships by typeone square, one ship
Military
No regular military forces (2012)
5 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 2014. Archived by The Factbook, thefactbook.org/faroe-islands/2014.