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.
National product:
GDP - purchasing power equivalent - $662 million (1989 est.)
National product real growth rate:
3% (1989 est.)
National product per capita:
$14,000 (1989 est.)
Inflation rate (consumer prices):
2% (1988)
Unemployment rate:
2.5% (1993 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
(ships) (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 (1991)
Industrial production:
growth rate NA%
Electricity:
capacity:
80,000 kW
production:
280 million kWh
consumption per capita:
5,760 kWh (1992)
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:
recipient:
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 - 6.771 (January 1994), 6.484 (1993),
6.036 (1992), 6.396 (1991), 6.189 (1990), 7.310 (1989)
Fiscal year:
1 April - 31 March
@Faroe Islands, Communications
Highways:
total:
200 km
paved:
NA
unpaved:
NA
Ports:
Torshavn, Tvoroyri
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
Airports:
total:
1
usable:
1
with permanent-surface runways:
1
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
0
with runways 1,220-2,439 m:
1
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:
small Police Force, no organized native military forces
Note:
defense is the responsibility of Denmark
@Fiji, Geography
Location: Oceania, Melanesia, 2,500 km north of New Zealand in the South Pacific Ocean Map references: Oceania, Standard Time Zones of the World Area: total area: 18,270 sq km land area: 18,270 sq km comparative area: slightly smaller than New Jersey Land boundaries: 0 km Coastline: 1,129 km Maritime claims: measured from claimed archipelagic baselines continental shelf: 200-m depth or to depth of exploitation; rectilinear shelf claim added exclusive economic zone: 200 nm territorial sea: 12 nm International disputes: none Climate: tropical marine; only slight seasonal temperature variation Terrain: mostly mountains of volcanic origin Natural resources: timber, fish, gold, copper, offshore oil potential Land use: arable land: 8% permanent crops: 5% meadows and pastures: 3% forest and woodland: 65% other: 19% Irrigated land: 10 sq km (1989 est.) Environment: current issues: deforestation; soil erosion natural hazards: cyclonic storms can occur from November to January international agreements: party to - Biodiversity, Climate Change, Law of the Sea, Marine Life Conservation, Nuclear Test Ban, Ozone Layer Protection Note: includes 332 islands of which approximately 110 are inhabited
@Fiji, People
Population:
764,382 (July 1994 est.)
Population growth rate:
1.05% (1994 est.)
Birth rate:
24.18 births/1,000 population (1994 est.)
Death rate:
6.5 deaths/1,000 population (1994 est.)
Net migration rate:
-7.15 migrant(s)/1,000 population (1994 est.)
Infant mortality rate:
18.1 deaths/1,000 live births (1994 est.)
Life expectancy at birth:
total population:
65.14 years
male:
62.88 years
female:
67.51 years (1994 est.)
Total fertility rate:
2.92 children born/woman (1994 est.)
Nationality:
noun:
Fijian(s)
adjective:
Fijian
Ethnic divisions:
Fijian 49%, Indian 46%, European, other Pacific Islanders, overseas
Chinese, and other 5%
Religions:
Christian 52% (Methodist 37%, Roman Catholic 9%), Hindu 38%, Muslim
8%, other 2%
note:
Fijians are mainly Christian, Indians are Hindu, and there is a Muslim
minority (1986)
Languages:
English (official), Fijian, Hindustani
Literacy:
age 15 and over can read and write (1985 est.)
total population:
86%
male:
90%
female:
81%
Labor force:
235,000
by occupation:
subsistence agriculture 67%, wage earners 18%, salary earners 15%
(1987)
@Fiji, Government