1995 Edition
CIA World Factbook 1995 (Project Gutenberg)
Geography
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
Climate
mild winters, cool summers; usually overcast; foggy, windy
Coastline
764 km
Environment
current issues: NA natural hazards: NA international agreements: NA
International disputes
none
Irrigated land
NA sq km
Land boundaries
0 km
Land use
arable land: 2% permanent crops: 0% meadows and pastures: 0% forest and woodland: 0% other: 98%
Location
Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway
Map references
Europe
Maritime claims
exclusive fishing zone: 200 nm territorial sea: 3 nm
Natural resources
fish
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
Terrain
rugged, rocky, some low peaks; cliffs along most of coast
People and Society
Age structure
0-14 years: 24% (female 5,673; male 6,119) 15-64 years: 63% (female 14,164; male 16,835) 65 years and over: 13% (female 3,335; male 2,745) (July 1995 est.)
Birth rate
17.54 births/1,000 population (1995 est.)
Death rate
7.59 deaths/1,000 population (1995 est.)
Ethnic divisions
Scandinavian
Infant mortality rate
7.9 deaths/1,000 live births (1995 est.)
Labor force
17,585 by occupation: largely engaged in fishing, manufacturing, transportation, and commerce
Languages
Faroese (derived from Old Norse), Danish
Life expectancy at birth
total population: 78.29 years male: 74.91 years female: 81.8 years (1995 est.)
Literacy
NA%
Nationality
noun: Faroese (singular and plural) adjective: Faroese
Net migration rate
0 migrant(s)/1,000 population (1995 est.)
Population
48,871 (July 1995 est.)
Population growth rate
0.99% (1995 est.)
Religions
Evangelical Lutheran
Total fertility rate
2.42 children born/woman (1995 est.)
Government
Administrative divisions
none (self-governing overseas administrative division of Denmark)
Capital
Torshavn
Constitution
5 June 1953 (Danish constitution)
Danish Parliament
elections last held on 21 September 1994 (next to be held by September 1998); results - percent of vote by party NA; seats - (2 total) Liberals 2
Digraph
FO
Diplomatic representation in US
none (self-governing overseas administrative division of Denmark)
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 Edmund JOENSEN (since 15 September 1994) cabinet: Landsstyri; elected by the local legislature
Faroese Parliament (Logting)
elections last held 8 July 1994 (next to be held by July 1998); results - percent of vote by party NA; seats - (32 total) Liberal Party 8, People's Party 6, Social Democrats 5, Republicans 4, Workers' Party 3, Christian Democrats 2, Center Party 2, Home Rule Party 2
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)
Independence
none (part of the Danish realm; self-governing overseas administrative division of Denmark)
Judicial branch
none
Legal system
Danish
Legislative branch
unicameral
Member of
none
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)
Political parties and leaders
Social Democratic Party, Marita PETERSEN; Workers Front, Oli JACOBSEN; Home Rule Party, Helena Dam A NEYSTABOE; The 'Coalition Party', Edmund JOENSEN; Republican Party, Finnbogir ESAKSON; Centrist Party, Tordur NICLASEN; Christian People's Party, Niels Pauli DANIELSEN; People's Party, Arnfinn KALLSBERG; Liberal Party; Christian Democratic Party
Suffrage
20 years of age; universal
Type
part of the Danish realm; self-governing overseas administrative division of Denmark
US diplomatic representation
none (self-governing overseas administrative division of Denmark)
Economy
Agriculture
accounts for 27% of GDP; principal crops - potatoes and vegetables; livestock - sheep; annual fish catch about 360,000 metric tons
Budget
revenues: $407.2 million expenditures: $482.7 million, including capital expenditures of $NA (1993 est.)
Currency
1 Danish krone (DKr) = 100 oere
Economic aid
recipient: receives an annual subsidy from Denmark of about $130 million
Electricity
capacity: 90,000 kW production: 200 million kWh consumption per capita: 3,953 kWh (1992)
Exchange rates
Danish kroner (DKr) per US$1 - 6.034 (January 1995), 6.361 (1994), 6.484 (1993), 6.036 (1992), 6.396 (1991), 6.189 (1990)
Exports
$345.3 million (f.o.b., 1993 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
$1.2 billion (1993 est.)
Fiscal year
1 April - 31 March
Imports
$234.4 million (c.i.f., 1993 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%
Industrial production
growth rate NA%
Industries
fishing, shipbuilding, handicrafts
Inflation rate (consumer prices)
6.8% (1993 est.)
National product
GDP - purchasing power parity - $662 million (1989 est.)
National product per capita
$14,000 (1989 est.)
National product real growth rate
-10.8% (1993 est.)
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 about $25,000. 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.
Unemployment rate
23% (1993)
Communications
Radio
broadcast stations: AM 1, FM 3 repeaters 10, shortwave 0 radios: NA
Telephone system
27,900 telephones; good international communications; fair domestic facilities local: NA intercity: NA international: 3 coaxial submarine cables
Television
broadcast stations: 3 (repeaters 29) televisions: NA
Transportation
Airports
total: 1 with paved runways 914 to 1,523 m: 1
Highways
total: 200 km paved: NA unpaved: NA
Merchant marine
total: 7 ships (1,000 GRT or over) totaling 19,879 GRT/18,444 DWT ships by type: cargo 5, roll-on/roll-off cargo 1, short-sea passenger 1
Ports
Klaksvick, Torshavn, Tvoroyri
Railroads
0 km
Military and Security
Branches
no organized native military forces; only a small Police Force and Coast Guard are maintained
Defense expenditures
$NA, NA% of GDP
Note
defense is the responsibility of Denmark ________________________________________________________________________ FIJI