1996 Edition

Description

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)

Location

62 00 N, 7 00 W -- Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway Flag ----

Area

comparative area

eight times the size of Washington, DC

land area

1,400 sq km

total area

1,400 sq km

Climate

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

Coastline

764 km

Environment

current issues

NA

international agreements

NA

natural hazards

NA

Geographic coordinates

62 00 N, 7 00 W

Geographic 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

International disputes

none

Irrigated land

NA sq km

Land boundaries

0 km

Land use

arable land

2%

forest and woodland

0%

meadows and pastures

0%

other

98%

permanent crops

0%

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

Terrain

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

highest point

Slaettaratindur 882 m

lowest point

Atlantic Ocean 0 m

Age structure

0-14 years: 24% (male 5,461; female 5,280) 15-64 years: 62% (male 14,488; female 12,617) 65 years and over: 14% (male 2,661; female 3,350) (July 1996 est.)

Birth rate

13.91 births/1,000 population (1996 est.)

Death rate

8.69 deaths/1,000 population (1996 est.)

Ethnic divisions

Scandinavian

Infant mortality rate

7.2 deaths/1,000 live births (1996 est.)

Languages

Faroese (derived from Old Norse), Danish

Life expectancy at birth

female

80.88 years (1996 est.)

male

74.75 years

total population

77.83 years

Literacy

NA

Nationality

adjective

Faroese

noun

Faroese (singular and plural)

Net migration rate

-23.19 migrant(s)/1,000 population (1996 est.)

Population

43,857 (July 1996 est.)

Population growth rate

-1.8% (1996 est.)

Religions

Evangelical Lutheran

Sex ratio

all ages

1.06 male(s)/female (1996 est.)

at birth

0.99 male(s)/female

under 15 years

1.03 male(s)/female 15-64 years: 1.15 male(s)/female 65 years and over: 0.79 male(s)/female

Total fertility rate

2.38 children born/woman (1996 est.)

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

Data code

FO

Diplomatic representation in US

none (self-governing overseas administrative division of Denmark)

Executive branch

cabinet

Landsstyri was elected by the Logting

chief of state

Queen MARGRETHE II (of Denmark since 14 January 1972), who is a constitutional monarch, is represented by High Commissioner Bent KLINTE, chief administrative officer (since NA)

head of government

Prime Minister Edmund JOENSEN (since 15 September 1994) was elected by the Logting

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)

International organization participation

none

Judicial branch

none

Legal system

Danish

Legislative branch

unicameral

Name of country

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 NEYSTABO; The "Coalition Party," Edmund JOENSEN; Republican Party, Finnbogi ISAKSON; Centrist Party, Tordur NICLASEN; Christian People's Party, Niels Pauli DANIELSEN; People's Party, Arnfinn KALLSBERG; Liberal Party, Jorgen ESTRUP; Christian Democratic Party

Suffrage

18 years of age; universal

Type of government

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

US diplomatic representation

none (self-governing overseas administrative division of Denmark)

Agriculture

potatoes, vegetables; sheep; annual fish catch about 360,000 metric tons

Budget

expenditures

$482.7 million, including capital expenditures of $NA (1993 est.)

revenues

$407.2 million

Currency

1 Danish krone (DKr) = 100 oere

Economic aid

note

receives an annual subsidy from Denmark of about $130 million

recipient

ODA, $NA

Economic overview

The Faroese economy is experiencing a moderate upturn after several years of decline brought on by over-fishing and declining fish prices, large budget deficits by the Faroese Home Rule Government (FHRG), plummeting property values, and a bail-out merger of the two largest Faroese banks. Near-term forecasts suggest continued economic recovery, and oil finds close to the Faroese area may lay the basis for an eventual economic rebound. Aided by a substantial annual subsidy from Denmark, the Faroese have enjoyed a standard of living comparable to the Danes and other Scandinavians.

Electricity

capacity

90,000 kW

consumption per capita

3,953 kWh (1992)

production

200 million kWh

Exchange rates

Danish kroner (DKr) per US$1 - 5.652 (January 1996), 5.602 (1995), 6.361 (1994), 6.484 (1993), 6.036 (1992), 6.396 (1991)

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

GDP

purchasing power parity - $733 million (1995 est.)

GDP composition by sector

agriculture

NA%

industry

NA%

services

NA%

GDP per capita

$15,000 (1995 est.)

GDP real growth rate

NA%

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.)

Labor force

17,585

by occupation

largely engaged in fishing, manufacturing, transportation, and commerce

Unemployment rate

23% (1993)

Branches

no organized native military forces; only a small Police Force and Coast Guard are maintained

Defense expenditures

$NA, NA% of GDP

Defense note

defense is the responsibility of Denmark

Radio broadcast stations

AM 1, FM 3 (repeaters 10), shortwave 0

Radios

24,000 (1992 est.)

Telephone system

good international communications; fair domestic facilities

domestic

NA

international

3 coaxial submarine cables

Telephones

27,900 (1984 est.)

Television broadcast stations

3 (repeaters 29)

Televisions

14,000 (1992 est.) Defense

Airports

total

1

with paved runways 914 to 1 523 m

1 (1995 est.)

Highways

paved

NA km

total

443 km

unpaved

NA km

Merchant marine

ships by type

cargo 5, roll-on/roll-off cargo 1, short-sea passenger 1 (1995 est.)

total

7 ships (1,000 GRT or over) totaling 19,879 GRT/18,444 DWT

Ports

Klaksvick, Torshavn, Tvoroyri

Railways

0 km