The 1996 CIA World Factbook page on Faroe Islands

From: The CIA'sTHE WORLD FACTBOOK 1996

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Faroe Islands

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(part of the Danish realm)

Map

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

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Flag

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)

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Geography

Location: Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway
Geographic coordinates: 62 00 N, 7 00 W
Map references: Europe
Area:
total area: 1,400 sq km
land area: 1,400 sq km
comparative area: eight times the size of Washington, DC
Land boundaries: 0 km
Coastline: 764 km
Maritime claims:
exclusive fishing zone: 200 nm
territorial sea: 3 nm
International disputes: none
Climate: mild winters, cool summers; usually overcast; foggy, windy
Terrain: rugged, rocky, some low peaks; cliffs along most of coast
lowest point: Atlantic Ocean 0 m
highest point: Slaettaratindur 882 m
Natural resources: fish
Land use:
arable land: 2%
permanent crops: 0%
meadows and pastures: 0%
forest and woodland: 0%
other: 98%
Irrigated land: NA sq km
Environment:
current issues: NA
natural hazards: NA
international agreements: NA
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

People

Population: 43,857 (July 1996 est.)
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.)
Population growth rate: -1.8% (1996 est.)
Birth rate: 13.91 births/1,000 population (1996 est.)
Death rate: 8.69 deaths/1,000 population (1996 est.)
Net migration rate: -23.19 migrant(s)/1,000 population (1996 est.)
Sex ratio:
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
all ages: 1.06 male(s)/female (1996 est.)
Infant mortality rate: 7.2 deaths/1,000 live births (1996 est.)
Life expectancy at birth:
total population: 77.83 years
male: 74.75 years
female: 80.88 years (1996 est.)
Total fertility rate: 2.38 children born/woman (1996 est.)
Nationality:
noun: Faroese (singular and plural)
adjective: Faroese
Ethnic divisions: Scandinavian
Religions: Evangelical Lutheran
Languages: Faroese (derived from Old Norse), Danish
Literacy: NA

Government

Name of country:
conventional long form: none
conventional short form: Faroe Islands
local long form: none
local short form: Foroyar
Data code: FO
Type of government: part of the Danish realm; self-governing overseas administrative division of Denmark
Capital: Torshavn
Administrative divisions: none (self-governing overseas administrative division of Denmark)
Independence: none (part of the Danish realm; self-governing overseas administrative division of Denmark)
National holiday: Birthday of the Queen, 16 April (1940)
Constitution: 5 June 1953 (Danish constitution)
Legal system: Danish
Suffrage: 18 years of age; universal
Executive branch:
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
cabinet: Landsstyri was elected by the Logting
Legislative branch: unicameral
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
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
Judicial branch: none
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
International organization participation: none
Diplomatic representation in US: none (self-governing overseas administrative division of Denmark)
US diplomatic representation: none (self-governing overseas administrative division of Denmark)
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)

Economy

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.
GDP: purchasing power parity - $733 million (1995 est.)
GDP real growth rate: NA%
GDP per capita: $15,000 (1995 est.)
GDP composition by sector:
agriculture: NA%
industry: NA%
services: NA%
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)
Budget:
revenues: $407.2 million
expenditures: $482.7 million, including capital expenditures of $NA (1993 est.)
Industries: fishing, shipbuilding, handicrafts
Industrial production growth rate: NA%
Electricity:
capacity: 90,000 kW
production: 200 million kWh
consumption per capita: 3,953 kWh (1992)
Agriculture: potatoes, vegetables; sheep; annual fish catch about 360,000 metric tons
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%
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%
External debt: $1.2 billion (1993 est.)
Economic aid:
recipient: ODA, $NA
note: receives an annual subsidy from Denmark of about $130 million
Currency: 1 Danish krone (DKr) = 100 oere
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)
Fiscal year: 1 April - 31 March

Transportation

Railways: 0 km
Highways:
total: 443 km
paved: NA km
unpaved: NA km
Ports: Klaksvick, Torshavn, Tvoroyri
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 (1995 est.)
Airports:
total: 1
with paved runways 914 to 1 523 m: 1 (1995 est.)

Communications

Telephones: 27,900 (1984 est.)
Telephone system: good international communications; fair domestic facilities
domestic: NA
international: 3 coaxial submarine cables
Radio broadcast stations: AM 1, FM 3 (repeaters 10), shortwave 0
Radios: 24,000 (1992 est.)
Television broadcast stations: 3 (repeaters 29)
Televisions: 14,000 (1992 est.)

Defense

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

Faroe Islands

Original publicaton at http://www.odci.gov/cia/publications/nsolo/wfb-all.htm (June 17, 1997).