Population:
48,588 (July 1992), growth rate 0.9% (1992)
Birth rate:
17 births/1,000 population (1992)
Death rate:
8 deaths/1,000 population (1992)
Net migration rate:
0 migrants/1,000 population (1992)
Infant mortality rate:
7 deaths/1,000 live births (1992)
Life expectancy at birth:
75 years male, 81 years female (1992)
Total fertility rate:
2.2 children born/woman (1992)
Nationality:
noun - Faroese (singular and plural); adjective - Faroese
Ethnic divisions:
homogeneous Scandinavian population
Religions:
Evangelical Lutheran
Languages:
Faroese (derived from Old Norse), Danish
Literacy:
NA% (male NA%, female NA%)
Labor force:
17,585; largely engaged in fishing, manufacturing, transportation, and
commerce
Organized labor:
NA
:Faroe Islands Government
Long-form name:
none
Type:
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:
part of the Danish realm; self-governing overseas administrative division of
Denmark
Constitution:
Danish
Legal system:
Danish
National holiday:
Birthday of the Queen, 16 April (1940)
Executive branch:
Danish monarch, high commissioner, prime minister, deputy prime minister,
Cabinet (Landsstyri)
Legislative branch:
unicameral Parliament (Lgting)
Judicial branch:
none
Leaders:
Chief of State:
Queen MARGRETHE II (since 14 January 1972), represented by High Commissioner
Bent KLINTE (since NA)
Head of Government:
Prime Minister Atli P. DAM (since 15 January 1991)
Political parties and leaders:
opposition:
Cooperation Coalition Party, Pauli ELLEFSEN; Republican Party, Signer
HANSEN; Progressive and Fishing Industry Party-Christian People's Party
(PFIP-CPP), leader NA; Progress Party, leader NA; Home Rule Party, Hilmar
KASS
two-party ruling coalition:
Social Democratic Party, Atli P. DAM; People's Party, Jogvan SUND- STEIN
Suffrage:
universal at age 20
Elections:
Danish Parliament:
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
Faroese Parliament:
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
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)
:Faroe Islands Economy
Overview:
The Faroese, who have long been enjoying the affluent living standards of
the Danes and other Scandinavians, now must cope with the decline of the
all-important fishing industry and with an external debt twice the size of
annual income. 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
further reductions in the fishing industry, which has already been plagued
with bankrupcies. An annual Danish subsidy of $140 million continues to
provide roughly one-third of the islands' budget revenues.
GDP:
purchasing power equivalent - $662 million, per capita $14,000; real growth
rate 3% (1989 est.)
Inflation rate (consumer prices):
2.0% (1988)
Unemployment rate:
5-6% (1991 est.)
Budget:
revenues $425 million; expenditures $480 million, including capital
expenditures of NA (1991 est.)
Exports:
$386 million (f.o.b., 1990 est.)
commodities:
fish and fish products 88%, animal feedstuffs, transport equipment (1989)
partners:
Denmark 20%, Germany 18.3%, UK 14.2%, France 11.2%, Spain 7.9%, US 4.5%
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%
External debt:
$1.3 billion (1989)
Industrial production:
growth rate NA%
Electricity:
80,000 kW capacity; 280 million kWh produced, 5,910 kWh per capita (1991)
Industries:
fishing, shipbuilding, handicrafts
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
Economic aid:
none
Currency:
Danish krone (plural - kroner); 1 Danish krone (DKr) = 100 ore
Exchange rates:
Danish kroner (DKr) per US$1 - 6.116 (January 1992), 6.396 (1991), 6.189
(1990), 7.310 (1989), 6.732 (1988), 6.840 (1987)
Fiscal year:
1 April - 31 March
:Faroe Islands Communications
Highways:
200 km
Ports:
Torshavn, Tvoroyri
Merchant marine:
10 ships (1,000 GRT or over) totaling 22,015 GRT/24,007 DWT; includes 1
short-sea passenger, 5 cargo, 2 roll-on/roll-off, 2 refrigerated cargo; note
- a subset of the Danish register
Airports:
1 with permanent surface runways 1,220-2,439 m
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
:Faroe Islands Defense Forces
Branches:
no organized native military forces; only a small Police Force is maintained
Note:
defense is the responsibility of Denmark
:Fiji Geography