1994 Edition

Administrative divisions

none (self-governing overseas administrative division of Denmark)

Affiliation

(part of the Danish realm)

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

Airports

total: 1 usable: 1 with permanent-surface runways: 1 with runways over 3,659 m: with runways 2,440-3,659 m: with runways 1,220-2,439 m: 1

Area

total area: 1,400 sq km land area: 1,400 sq km comparative area: slightly less than eight times the size of Washington, DC

Birth rate

17.97 births/1,000 population (1994 est.)

Branches

small Police Force, no organized native military forces

Budget

revenues: $425 million expenditures: $480 million, including capital expenditures of $NA (1991 est.)

Capital

Torshavn

Climate

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

Coastline

764 km

Constitution

5 June 1953 (Danish constitution)

Currency

1 Danish krone (DKr) = 100 oere

Danish Parliament

elections 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

Death rate

7.56 deaths/1,000 population (1994 est.)

Digraph

FO

Diplomatic representation in US

none (self-governing overseas administrative division of Denmark)

Economic aid

recipient: receives an annual subsidy from Denmark of about $130 million

Electricity

capacity: 80,000 kW production: 280 million kWh consumption per capita: 5,760 kWh (1992)

Environment

current issues: NA natural hazards: NA international agreements: NA

Ethnic divisions

Scandinavian

Exchange rates

Danish kroner (DKr) per US$1 - 6.771 (January 1994), 6.484 (1993), 6.036 (1992), 6.396 (1991), 6.189 (1990), 7.310 (1989)

Executive branch

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) cabinet: Landsstyri; elected by the local legislature

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%

External debt

$1.3 billion (1991)

Faroese Parliament (Lgting)

elections 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

Fiscal year

1 April - 31 March

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)

Highways

total: 200 km paved: NA unpaved: NA

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%

Independence

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

Industrial production

growth rate NA%

Industries

fishing, shipbuilding, handicrafts

Infant mortality rate

8.1 deaths/1,000 live births (1994 est.)

Inflation rate (consumer prices)

2% (1988)

International disputes

none

Irrigated land

NA sq km

Judicial branch

none

Labor force

17,585 by occupation: largely engaged in fishing, manufacturing, transportation, and commerce

Land boundaries

0 km

Land use

arable land: 2% permanent crops: 0% meadows and pastures: 0% forest and woodland: 0% other: 98%

Languages

Faroese (derived from Old Norse), Danish

Legal system

Danish

Legislative branch

unicameral

Life expectancy at birth

total population: 78.1 years male: 74.71 years female: 81.62 years (1994 est.)

Literacy

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

Location

Nordic States, Northern Europe in the north Atlantic Ocean, located half way between Norway and Iceland

Map references

Arctic Region

Maritime claims

exclusive fishing zone: 200 nm territorial sea: 3 nm

Member of

none

Merchant marine

7 ships (1,000 GRT or over) totaling 19,943 GRT/18,399 DWT, cargo 5, roll-on/roll-off cargo 1, short-sea passenger 1 note: a subset of the Danish register

Names

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

National holiday

Birthday of the Queen, 16 April (1940)

National product

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

National product per capita

$14,000 (1989 est.)

National product real growth rate

3% (1989 est.)

Nationality

noun: Faroese (singular and plural) adjective: Faroese

Natural resources

fish

Net migration rate

-2.09 migrant(s)/1,000 population (1994 est.)

Note

archipelago of 18 inhabited islands and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands

defense is the responsibility of Denmark

Overview

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% value-added tax (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.

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

Population

48,427 (July 1994 est.)

Population growth rate

0.83% (1994 est.)

Ports

Torshavn, Tvoroyri

Religions

Evangelical Lutheran

Suffrage

20 years of age; universal

Telecommunications

good international communications; fair domestic facilities; 27,900 telephones; broadcast stations - 1 AM, 3 (10 repeaters) FM, 3 (29 repeaters) TV; 3 coaxial submarine cables

Terrain

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

Total fertility rate

2.47 children born/woman (1994 est.)

Type

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

Unemployment rate

2.5% (1993 est)

US diplomatic representation

none (self-governing overseas administrative division of Denmark)