Location:
This entry identifies the country's regional location, neighboring countries, and adjacent bodies of water.
Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about halfway between Iceland and Norway
Geographic coordinates:
This entry includes rounded latitude and longitude figures for the centroid or center point of a country expressed in degrees and minutes; it is based on the locations provided in the Geographic Names Server (GNS), maintained by the National Geospatial-Intelligence Agency on behalf of the US Board on Geographic Names.
Map references:
This entry includes the name of the Factbook reference map on which a country may be found. Note that boundary representations on these maps are not necessarily authoritative. The entry on Geographic coordinates may be helpful in finding some smaller countries.
Area:
This entry includes three subfields. Total area is the sum of all land and water areas delimited by international boundaries and/or coastlines. Land area is the aggregate of all surfaces delimited by international boundaries and/or coastlines, excluding inland water bodies (lakes, reservoirs, rivers). Water area is the sum of the surfaces of all inland water bodies, such as lakes, reservoirs, or rivers, as delimited by international boundaries and/or coastlines.
total:
1,393 sq km
land:
1,393 sq km
water:
0 sq km
(some lakes and streams)
country comparison to the world:
183
Area - comparative:
This entry provides an area comparison based on total area equivalents. Most entities are compared with the entire US or one of the 50 states based on area measurements (1990 revised) provided by the US Bureau of the Census. The smaller entities are compared with Washington, DC (178 sq km, 69 sq mi) or The Mall in Washington, DC (0.59 sq km, 0.23 sq mi, 146 acres).
eight times the size of Washington, DC
Land boundaries:
This entry contains the total length of all land boundaries and the individual lengths for each of the contiguous border countries. When available, official lengths published by national statistical agencies are used. Because surveying methods may differ, country border lengths reported by contiguous countries may differ.
Coastline:
This entry gives the total length of the boundary between the land area (including islands) and the sea.
Maritime claims:
This entry includes the following claims, the definitions of which are excerpted from the United Nations Convention on the Law of the Sea (UNCLOS), which alone contains the full and definitive descriptions: territorial sea - the sovereignty of a coastal state extends beyond its land territory and internal waters to an adjacent belt of sea, described as the territorial sea in the UNCLOS (Part II); this sovereignty extends to the air space over the territorial sea as well as its underlying s . . .
more
territorial sea:
12
nm
continental shelf:
200
nm or agreed boundaries or median line
exclusive fishing zone:
200
nm or agreed boundaries or median line
Climate:
This entry includes a brief description of typical weather regimes throughout the year; in the Word entry only, it includes four subfields that describe climate extremes:ten driest places on earth (average annual precipitation) describes the annual average precipitation measured in both millimeters and inches for selected countries with climate extremes.
ten wettest places on earth (average annual precipitation) describes the annual average precipitation measured in both millimeters and i . . .
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mild winters, cool summers; usually overcast; foggy, windy
Terrain:
This entry contains a brief description of the topography.
rugged, rocky, some low peaks; cliffs along most of coast
Elevation:
This entry includes the mean elevation and elevation extremes, lowest point and highest point.
lowest point:
Atlantic Ocean 0 m
highest point:
Slaettaratindur 882 m
Natural resources:
This entry lists a country's mineral, petroleum, hydropower, and other resources of commercial importance, such as rare earth elements (REEs). In general, products appear only if they make a significant contribution to the economy, or are likely to do so in the future.
fish, whales, hydropower, possible oil and gas
Land use:
This entry contains the percentage shares of total land area for three different types of land use: agricultural land, forest, and other; agricultural land is further divided into arable land - land cultivated for crops like wheat, maize, and rice that are replanted after each harvest, permanent crops - land cultivated for crops like citrus, coffee, and rubber that are not replanted after each harvest, and includes land under flowering shrubs, fruit trees, nut trees, and vines, and permane . . .
more
agricultural land:
2.1%
(2011 est.)
arable land:
2.1%
(2011 est.)
/
permanent crops:
0%
(2011 est.)
/
permanent pasture:
0%
(2011 est.)
forest:
0.1%
(2011 est.)
other:
97.8%
(2011 est.)
Population distribution:
This entry provides a summary description of the population dispersion within a country. While it may suggest population density, it does not provide density figures.
the island of Streymoy is by far the most populous with over 40% of the population; it has approximately twice as many inhabitants as Eysturoy, the second most populous island; seven of the inhabited islands have fewer than 100 people
Natural hazards:
This entry lists potential natural disasters. For countries where volcanic activity is common, a volcanism subfield highlights historically active volcanoes.
strong winds and heavy rains can occur throughout the year
Environment - current issues:
This entry lists the most pressing and important environmental problems. The following terms and abbreviations are used throughout the entry:
Acidification - the lowering of soil and water pH due to acid precipitation and deposition usually through precipitation; this process disrupts ecosystem nutrient flows and may kill freshwater fish and plants dependent on more neutral or alkaline conditions (see acid rain).
Acid rain - characterized as containing harmful levels of sulfur dioxi . . .
more
coastal erosion, landslides and rockfalls, flash flooding, wind storms; oil spills
Environment - international agreements:
This entry separates country participation in international environmental agreements into two levels - party to and signed, but not ratified. Agreements are listed in alphabetical order by the abbreviated form of the full name.
party to:
Marine Dumping - associate member to the London Convention and Ship Pollution
Geography - note:
This entry includes miscellaneous geographic information of significance not included elsewhere.
archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands
Population:
This entry gives an estimate from the US Bureau of the Census based on statistics from population censuses, vital statistics registration systems, or sample surveys pertaining to the recent past and on assumptions about future trends. The total population presents one overall measure of the potential impact of the country on the world and within its region. Note: Starting with the 1993 Factbook, demographic estimates for some countries (mostly African) have explicitly taken into account t . . .
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51,018
(July 2018 est.)
country comparison to the world:
210
Nationality:
This entry provides the identifying terms for citizens - noun and adjective.
noun:
Faroese (singular and plural)
adjective:
Faroese
Ethnic groups:
This entry provides an ordered listing of ethnic groups starting with the largest and normally includes the percent of total population.
Faroese 87.6% (Scandinavian and Anglo-Saxon descent), Danish 7.8%, other Nordic 1.4%, other 3.2% (includes Filipino, Thai, British)
(2018 est.)
note: data represent respondents by country of birth
Languages:
This entry provides a listing of languages spoken in each country and specifies any that are official national or regional languages. When data is available, the languages spoken in each country are broken down according to the percent of the total population speaking each language as a first language. For those countries without available data, languages are listed in rank order based on prevalence, starting with the most-spoken language.
Faroese 93.8% (derived from Old Norse), Danish 3.2%, other 3%
(2011 est.)
note: data represent population by primary language
Religions:
This entry is an ordered listing of religions by adherents starting with the largest group and sometimes includes the percent of total population. The core characteristics and beliefs of the world's major religions are described below. Baha'i - Founded by Mirza Husayn-Ali (known as Baha'u'llah) in Iran in 1852, Baha'i faith emphasizes monotheism and believes in one eternal transcendent God. Its guiding focus is to encourage the unity of all peoples on the earth so that justice and peace m . . .
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Christian 87% (predominantly Evangelical Lutheran), other 0.9%, none 3.7%, unspecified or not queried 8.9%
(2011 est.)
Age structure:
This entry provides the distribution of the population according to age. Information is included by sex and age group as follows: 0-14 years (children), 15-24 years (early working age), 25-54 years (prime working age), 55-64 years (mature working age), 65 years and over (elderly). The age structure of a population affects a nation's key socioeconomic issues. Countries with young populations (high percentage under age 15) need to invest more in schools, while countries with older population . . .
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0-14 years:
19.79%
(male 5,220 /female 4,878)
15-24 years:
14.17%
(male 3,714 /female 3,515)
25-54 years:
37.24%
(male 10,280 /female 8,718)
55-64 years:
11.82%
(male 3,094 /female 2,934)
65 years and over:
16.98%
(male 4,194 /female 4,471)
(2018 est.)
population pyramid:
Europe
::
Faroe Islands
Print
This is the population pyramid for the Faroe Islands . A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends.
For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab.
Population growth rate:
The average annual percent change in the population, resulting from a surplus (or deficit) of births over deaths and the balance of migrants entering and leaving a country. The rate may be positive or negative. The growth rate is a factor in determining how great a burden would be imposed on a country by the changing needs of its people for infrastructure (e.g., schools, hospitals, housing, roads), resources (e.g., food, water, electricity), and jobs. Rapid population growth can be seen as . . .
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0.58%
(2018 est.)
country comparison to the world:
149
Birth rate:
This entry gives the average annual number of births during a year per 1,000 persons in the population at midyear; also known as crude birth rate. The birth rate is usually the dominant factor in determining the rate of population growth. It depends on both the level of fertility and the age structure of the population.
14.5 births/1,000 population
(2018 est.)
country comparison to the world:
131
Death rate:
This entry gives the average annual number of deaths during a year per 1,000 population at midyear; also known as crude death rate. The death rate, while only a rough indicator of the mortality situation in a country, accurately indicates the current mortality impact on population growth. This indicator is significantly affected by age distribution, and most countries will eventually show a rise in the overall death rate, in spite of continued decline in mortality at all ages, as declining . . .
more
8.8 deaths/1,000 population
(2018 est.)
country comparison to the world:
68
Net migration rate:
This entry includes the figure for the difference between the number of persons entering and leaving a country during the year per 1,000 persons (based on midyear population). An excess of persons entering the country is referred to as net immigration (e.g., 3.56 migrants/1,000 population); an excess of persons leaving the country as net emigration (e.g., -9.26 migrants/1,000 population). The net migration rate indicates the contribution of migration to the overall level of population chan . . .
more
0 migrant(s)/1,000 population
(2018 est.)
country comparison to the world:
84
Population distribution:
This entry provides a summary description of the population dispersion within a country. While it may suggest population density, it does not provide density figures.
the island of Streymoy is by far the most populous with over 40% of the population; it has approximately twice as many inhabitants as Eysturoy, the second most populous island; seven of the inhabited islands have fewer than 100 people
Urbanization:
This entry provides two measures of the degree of urbanization of a population. The first, urban population, describes the percentage of the total population living in urban areas, as defined by the country. The second, rate of urbanization, describes the projected average rate of change of the size of the urban population over the given period of time. Additionally, the World entry includes a list of the ten largest urban agglomerations. An urban agglomeration is defined as comprising th . . .
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urban population:
42.1% of total population
(2018)
rate of urbanization:
0.74% annual rate of change
(2015-20 est.)
Major urban areas - population:
This entry provides the population of the capital and up to six major cities defined as urban agglomerations with populations of at least 750,000 people. An urban agglomeration is defined as comprising the city or town proper and also the suburban fringe or thickly settled territory lying outside of, but adjacent to, the boundaries of the city. For smaller countries, lacking urban centers of 750,000 or more, only the population of the capital is presented.
21,000 TORSHAVN (capital)
(2018)
Sex ratio:
This entry includes the number of males for each female in five age groups - at birth, under 15 years, 15-64 years, 65 years and over, and for the total population. Sex ratio at birth has recently emerged as an indicator of certain kinds of sex discrimination in some countries. For instance, high sex ratios at birth in some Asian countries are now attributed to sex-selective abortion and infanticide due to a strong preference for sons. This will affect future marriage patterns and fertilit . . .
more
at birth:
1.07 male(s)/female
0-14 years:
1.07 male(s)/female
15-24 years:
1.06 male(s)/female
25-54 years:
1.18 male(s)/female
55-64 years:
1.05 male(s)/female
65 years and over:
0.94 male(s)/female
total population:
1.08 male(s)/female
(2018 est.)
Infant mortality rate:
This entry gives the number of deaths of infants under one year old in a given year per 1,000 live births in the same year. This rate is often used as an indicator of the level of health in a country.
total:
5.3 deaths/1,000 live births
male:
5.6 deaths/1,000 live births
female:
5 deaths/1,000 live births
(2018 est.)
country comparison to the world:
173
Life expectancy at birth:
This entry contains the average number of years to be lived by a group of people born in the same year, if mortality at each age remains constant in the future. Life expectancy at birth is also a measure of overall quality of life in a country and summarizes the mortality at all ages. It can also be thought of as indicating the potential return on investment in human capital and is necessary for the calculation of various actuarial measures.
total population:
80.6 years
male:
78.1 years
female:
83.3 years
(2018 est.)
country comparison to the world:
42
Total fertility rate:
This entry gives a figure for the average number of children that would be born per woman if all women lived to the end of their childbearing years and bore children according to a given fertility rate at each age. The total fertility rate (TFR) is a more direct measure of the level of fertility than the crude birth rate, since it refers to births per woman. This indicator shows the potential for population change in the country. A rate of two children per woman is considered the replaceme . . .
more
2.34 children born/woman
(2018 est.)
country comparison to the world:
85
Physicians density:
This entry gives the number of medical doctors (physicians), including generalist and specialist medical practitioners, per 1,000 of the population. Medical doctors are defined as doctors that study, diagnose, treat, and prevent illness, disease, injury, and other physical and mental impairments in humans through the application of modern medicine. They also plan, supervise, and evaluate care and treatment plans by other health care providers. The World Health Organization estimates that f . . .
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2.62 physicians/1,000 population
(2016)
Hospital bed density:
This entry provides the number of hospital beds per 1,000 people; it serves as a general measure of inpatient service availability. Hospital beds include inpatient beds available in public, private, general, and specialized hospitals and rehabilitation centers. In most cases, beds for both acute and chronic care are included. Because the level of inpatient services required for individual countries depends on several factors - such as demographic issues and the burden of disease - there is . . .
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4.1 beds/1,000 population
(2015)
HIV/AIDS - adult prevalence rate:
This entry gives an estimate of the percentage of adults (aged 15-49) living with HIV/AIDS. The adult prevalence rate is calculated by dividing the estimated number of adults living with HIV/AIDS at yearend by the total adult population at yearend.
HIV/AIDS - people living with HIV/AIDS:
This entry gives an estimate of all people (adults and children) alive at yearend with HIV infection, whether or not they have developed symptoms of AIDS.
HIV/AIDS - deaths:
This entry gives an estimate of the number of adults and children who died of AIDS during a given calendar year.
Country name:
This entry includes all forms of the country's name approved by the US Board on Geographic Names (Italy is used as an example): conventional long form (Italian Republic), conventional short form (Italy), local long form (Repubblica Italiana), local short form (Italia), former (Kingdom of Italy), as well as the abbreviation. Also see the Terminology note.
conventional long form:
none
conventional short form:
Faroe Islands
local long form:
none
local short form:
Foroyar
etymology:
the archipelago's name may derive from the Old Norse word "faer," meaning sheep
Dependency status:
This entry describes the formal relationship between a particular nonindependent entity and an independent state.
part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948
Government type:
This entry gives the basic form of government. Definitions of the major governmental terms are as follows. (Note that for some countries more than one definition applies.):
Absolute monarchy - a form of government where the monarch rules unhindered, i.e., without any laws, constitution, or legally organized opposition.
Anarchy - a condition of lawlessness or political disorder brought about by the absence of governmental authority.
Authoritarian - a form of government in whic . . .
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parliamentary democracy (Faroese Parliament); part of the Kingdom of Denmark
Capital:
This entry gives the name of the seat of government, its geographic coordinates, the time difference relative to Coordinated Universal Time (UTC) and the time observed in Washington, DC, and, if applicable, information on daylight saving time (DST). Where appropriate, a special note has been added to highlight those countries that have multiple time zones.
name:
Torshavn
geographic coordinates:
62 00 N, 6 46 W
time difference:
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
daylight saving time:
+1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
This entry generally gives the numbers, designatory terms, and first-order administrative divisions as approved by the US Board on Geographic Names (BGN). Changes that have been reported but not yet acted on by the BGN are noted. Geographic names conform to spellings approved by the BGN with the exception of the omission of diacritical marks and special characters.
part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark; there are 29 first-order municipalities (kommunur, singular - kommuna) Eidhis, Eystur, Famjins, Fuglafjardhar, Fugloyar, Hovs, Husavikar, Hvalbiar, Hvannasunds, Klaksvikar, Kunoyar, Kvivik, Nes, Porkeris, Runavikar, Sands, Sjovar, Skalavikar, Skopunar, Skuvoyar, Sorvags, Sumbiar, Sunda, Torshavnar, Tvoroyrar, Vaga, Vags, Vestmanna, Vidhareidhis
Independence:
For most countries, this entry gives the date that sovereignty was achieved and from which nation, empire, or trusteeship. For the other countries, the date given may not represent "independence" in the strict sense, but rather some significant nationhood event such as the traditional founding date or the date of unification, federation, confederation, establishment, fundamental change in the form of government, or state succession. For a number of countries, the establishment of statehood . . .
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none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)
National holiday:
This entry gives the primary national day of celebration - usually independence day.
Olaifest (Olavsoka) (commemorates the death in battle of King OLAF II of Norway, later St. OLAF), 29 July (1030)
Constitution:
This entry provides information on a country’s constitution and includes two subfields. The history subfield includes the dates of previous constitutions and the main steps and dates in formulating and implementing the latest constitution. For countries with 1-3 previous constitutions, the years are listed; for those with 4-9 previous, the entry is listed as “several previous,” and for those with 10 or more, the entry is “many previous.” The amendments subfield summarizes the process of am . . .
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history:
5 June 1953 (Danish Constitution), 23 March 1948 (Home Rule Act), and 24 June 2005 (Takeover Act) serve as the Faroe Islands constitutional position in the Unity of the Realm
amendments:
see entry for Denmark
(2016)
Legal system:
This entry provides the description of a country's legal system. A statement on judicial review of legislative acts is also included for a number of countries. The legal systems of nearly all countries are generally modeled upon elements of five main types: civil law (including French law, the Napoleonic Code, Roman law, Roman-Dutch law, and Spanish law); common law (including United State law); customary law; mixed or pluralistic law; and religious law (including Islamic law). An addition . . .
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the laws of Denmark, where applicable, apply
Citizenship:
This entry provides information related to the acquisition and exercise of citizenship; it includes four subfields: citizenship by birth describes the acquisition of citizenship based on place of birth, known as Jus soli, regardless of the citizenship of parents. citizenship by descent only describes the acquisition of citizenship based on the principle of Jus sanguinis, or by descent, where at least one parent is a citizen of the state and being born within the territorial limits of the s . . .
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Suffrage:
This entry gives the age at enfranchisement and whether the right to vote is universal or restricted.
18 years of age; universal
Executive branch:
This entry includes five subentries: chief of state; head of government; cabinet; elections/appointments; election results. Chief of state includes the name, title, and beginning date in office of the titular leader of the country who represents the state at official and ceremonial functions but may not be involved with the day-to-day activities of the government. Head of government includes the name, title of the top executive designated to manage the executive branch of the government, a . . .
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chief of state:
Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Lene Moyell JOHANSEN, chief administrative officer (since 15 May 2017)
head of government:
Prime Minister Aksel V. JOHANNESEN (since 15 September 2015)
cabinet:
Landsstyri appointed by the prime minister
elections/appointments:
the monarchy is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or majority coalition usually elected prime minister by the Faroese Parliament; election last held on 1 September 2015 (next to be held in 2019)
election results:
Aksel V. JOHANNESEN elected prime minister; Parliament vote - NA
Legislative branch:
This entry has three subfields. The description subfield provides the legislative structure (unicameral – single house; bicameral – an upper and a lower house); formal name(s); number of member seats; types of constituencies or voting districts (single seat, multi-seat, nationwide); electoral voting system(s); and member term of office. The elections subfield includes the dates of the last election and next election. The election results subfield lists percent of vote by party/coalition an . . .
more
description:
unicameral Faroese Parliament or Logting (33 seats; members directly elected in a single nationwide constituency by proportional representation vote; members serve 4-year terms)
the Faroe Islands elect 2 members to the Danish Parliament to serve 4-year terms
elections:
Faroese Parliament last held on 1 September 2015 (next to be held no later than October 2019)
Faroese seats in the Danish Parliament last held on 18 June 2015 (next to be held no later than June 2019)
election results:
Faroese Parliament percent of vote by party - JF 25.1%, Republic 20.7%, People's Party, 18.9%, Union Party 18.7%, Progressive Party 7%, Center Party 5.5%, New Self-Government Party 4.1%; seats by party - JF 8, Republic 7, People's Party 6, Union Party 6, Center Party 2, Progressive Party 2, New Self-Government Party 2; composition - men 23, women 10, percent of women 30.3%; note - 1 member from JF and 1 member of the Union Party are now independent
Faroese seats in Danish Parliament - percent of vote by party - NA; seats by party - Social Democratic Party 1, Republican Party 1; composition - 2 men
Judicial branch:
This entry includes three subfields. The highest court(s) subfield includes the name(s) of a country's highest level court(s), the number and titles of the judges, and the types of cases heard by the court, which commonly are based on civil, criminal, administrative, and constitutional law. A number of countries have separate constitutional courts. The judge selection and term of office subfield includes the organizations and associated officials responsible for nominating and appointing j . . .
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highest courts:
Faroese Court or Raett (Rett - Danish) decides both civil and criminal cases; the Court is part of the Danish legal system
subordinate courts:
Court of the First Instance or Tribunal de Premiere Instance; Court of Administrative Law or Tribunal Administratif; Mixed Commercial Court; Land Court
Political parties and leaders:
This entry includes a listing of significant political parties, coalitions, and electoral lists as of each country's last legislative election, unless otherwise noted.
Center Party (Midflokkurin) [Rani SKAALUM]
Self-Government Party (Sjalvstyri or Sjalvstyrisflokkurin) [Jogvan SKORHEIM]
People's Party (Folkaflokkurin) [Jorgen NICLASEN]
Progressive Party (Framsokn) [Poul MICHELSEN]
Republic (Tjodveldi) [Hogni HOYDAL] (formerly the Republican Party)
Social Democratic Party (Javnadarflokkurin) or JF [Aksel V. JOHANNESEN]
Union Party (Sambandsflokkurin) [Bardur A STEIG NIELSEN]
International organization participation:
This entry lists in alphabetical order by abbreviation those international organizations in which the subject country is a member or participates in some other way.
Arctic Council, IMO (associate), NC, NIB, UNESCO (associate), UPU
Diplomatic representation in the US:
This entry includes the chief of mission, chancery address, telephone, FAX, consulate general locations, and consulate locations. The use of the annotated title Appointed Ambassador refers to a new ambassador who has presented his/her credentials to the secretary of state but not the US president. Such ambassadors fulfill all diplomatic functions except meeting with or appearing at functions attended by the president until such time as they formally present their credentials at a White Hou . . .
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none (self-governing overseas administrative division of Denmark)
Diplomatic representation from the US:
This entry includes the chief of mission, embassy address, mailing address, telephone number, FAX number, branch office locations, consulate general locations, and consulate locations.
none (self-governing overseas administrative division of Denmark)
Flag description:
This entry provides a written flag description produced from actual flags or the best information available at the time the entry was written. The flags of independent states are used by their dependencies unless there is an officially recognized local flag. Some disputed and other areas do not have flags.
white with a red cross outlined in blue extending to the edges of the flag; the vertical part of the cross is shifted toward the hoist side in the style of the Dannebrog (Danish flag); referred to as Merkid, meaning "the banner" or "the mark," the flag resembles those of neighboring Iceland and Norway, and uses the same three colors - but in a different sequence; white represents the clear Faroese sky, as well as the foam of the waves; red and blue are traditional Faroese colors
note: the blue on the flag is a lighter blue (azure) than that found on the flags of Iceland or Norway
National symbol(s):
A national symbol is a faunal, floral, or other abstract representation - or some distinctive object - that over time has come to be closely identified with a country or entity. Not all countries have national symbols; a few countries have more than one.
ram; national colors: red, white, blue
National anthem:
A generally patriotic musical composition - usually in the form of a song or hymn of praise - that evokes and eulogizes the history, traditions, or struggles of a nation or its people. National anthems can be officially recognized as a national song by a country's constitution or by an enacted law, or simply by tradition. Although most anthems contain lyrics, some do not.
name:
"Mitt alfagra land" (My Fairest Land)
lyrics/music:
Simun av SKAROI/Peter ALBERG
note: adopted 1948; the anthem is also known as "Tu alfagra land mitt" (Thou Fairest Land of Mine); as a self-governing overseas administrative division of Denmark, the Faroe Islands are permitted their own national anthem
Economy - overview:
This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
The Faroese economy has experienced a period of significant growth since 2011, due to higher fish prices and increased salmon farming and catches in the pelagic fisheries. Fishing has been the main source of income for the Faroe Islands since the late 19th century, but dependence on fishing makes the economy vulnerable to price fluctuations. Nominal GDP, measured in current prices, grew 5.6% in 2015 and 6.8% in 2016. GDP growth was forecast at 6.2% in 2017, slowing to 0.5% in 2018, due to lower fisheries quotas, higher oil prices and fewer farmed salmon combined with lower salmon prices. The fisheries sector accounts for about 97% of exports, and half of GDP. Unemployment is low, estimated at 2.1% in early 2018. Aided by an annual subsidy from Denmark, which amounts to about 11% of Faroese GDP , Faroese have a standard of living equal to that of Denmark. The Faroe Islands have bilateral free trade agreements with the EU, Iceland, Norway, Switzerland, and Turkey.
For the first time in 8 years, the Faroe Islands managed to generate a public budget surplus in 2016, a trend which continued in 2017. The local government intends to use this to reduce public debt, which reached 38% of GDP in 2015. A fiscal sustainability analysis of the Faroese economy shows that a long-term tightening of fiscal policy of 5% of GDP is required for fiscal sustainability.
Increasing public infrastructure investments are likely to lead to continued growth in the short term, and the Faroese economy is becoming somewhat more diversified. Growing industries include financial services, petroleum-related businesses, shipping, maritime manufacturing services, civil aviation, IT, telecommunications, and tourism.
GDP (purchasing power parity):
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States in the year noted. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measur . . .
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$2.001 billion
(2014 est.)
$1.89 billion
(2013 est.)
$1.608 billion
(2012 est.)
country comparison to the world:
197
GDP (official exchange rate):
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at official exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis- . . .
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$2.765 billion
(2014 est.)
(2014 est.)
GDP - real growth rate:
This entry gives GDP growth on an annual basis adjusted for inflation and expressed as a percent. The growth rates are year-over-year, and not compounded.
5.9%
(2017 est.)
7.5%
(2016 est.)
2.4%
(2015 est.)
country comparison to the world:
35
GDP - per capita (PPP):
This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
$40,000
(2014 est.)
country comparison to the world:
45
Gross national saving:
Gross national saving is derived by deducting final consumption expenditure (household plus government) from Gross national disposable income, and consists of personal saving, plus business saving (the sum of the capital consumption allowance and retained business profits), plus government saving (the excess of tax revenues over expenditures), but excludes foreign saving (the excess of imports of goods and services over exports). The figures are presented as a percent of GDP. A negative . . .
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25.7% of GDP
(2012 est.)
25.2% of GDP
(2011 est.)
25.9% of GDP
(2010 est.)
country comparison to the world:
53
GDP - composition, by end use:
This entry shows who does the spending in an economy: consumers, businesses, government, and foreigners. The distribution gives the percentage contribution to total GDP of household consumption, government consumption, investment in fixed capital, investment in inventories, exports of goods and services, and imports of goods and services, and will total 100 percent of GDP if the data are complete. household consumption consists of expenditures by resident households, and by nonprofit insti . . .
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household consumption:
52%
(2013)
government consumption:
29.6%
(2013)
investment in fixed capital:
18.4%
(2013)
GDP - composition, by sector of origin:
This entry shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not prod . . .
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agriculture:
18%
(2013 est.)
industry:
39%
(2013 est.)
services:
43%
(2013 est.)
Agriculture - products:
This entry is an ordered listing of major crops and products starting with the most important.
milk, potatoes, vegetables, sheep, salmon, herring, mackerel and other fish
Industries:
This entry provides a rank ordering of industries starting with the largest by value of annual output.
fishing, fish processing, tourism, small ship repair and refurbishment, handicrafts
3.4%
(2009 est.)
country comparison to the world:
91
Labor force:
This entry contains the total labor force figure.
27,540
(2017 est.)
country comparison to the world:
206
Labor force - by occupation:
This entry lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
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agriculture:
15%
industry:
15%
services:
70%
(December 2016 est.)
Unemployment rate:
This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
2.2%
(2017 est.)
3.4%
(2016 est.)
country comparison to the world:
20
Population below poverty line:
National estimates of the percentage of the population falling below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
Household income or consumption by percentage share:
Data on household income or consumption come from household surveys, the results adjusted for household size. Nations use different standards and procedures in collecting and adjusting the data. Surveys based on income will normally show a more unequal distribution than surveys based on consumption. The quality of surveys is improving with time, yet caution is still necessary in making inter-country comparisons.
lowest 10%:
NA
highest 10%:
NA
Distribution of family income - Gini index:
This index measures the degree of inequality in the distribution of family income in a country. The index is calculated from the Lorenz curve, in which cumulative family income is plotted against the number of families arranged from the poorest to the richest. The index is the ratio of (a) the area between a country's Lorenz curve and the 45 degree helping line to (b) the entire triangular area under the 45 degree line. The more nearly equal a country's income distribution, the closer its . . .
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22.7
(2013 est.)
21.6
(2011 est.)
country comparison to the world:
157
Budget:
This entry includes revenues, expenditures, and capital expenditures. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
revenues:
835.6 million
(2014 est.)
expenditures:
883.8 million
(2014)
note: Denmark supplies the Faroe Islands with almost one-third of its public funds
Taxes and other revenues:
This entry records total taxes and other revenues received by the national government during the time period indicated, expressed as a percent of GDP. Taxes include personal and corporate income taxes, value added taxes, excise taxes, and tariffs. Other revenues include social contributions - such as payments for social security and hospital insurance - grants, and net revenues from public enterprises. Normalizing the data, by dividing total revenues by GDP, enables easy comparisons acr . . .
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30.2% (of GDP)
(2014 est.)
country comparison to the world:
76
Budget surplus (+) or deficit (-):
This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relat . . .
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-1.7% (of GDP)
(2014 est.)
country comparison to the world:
95
Public debt:
This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
35% of GDP
(2014 est.)
country comparison to the world:
152
Fiscal year:
This entry identifies the beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
-0.3%
(2016)
-1.7%
(2015)
country comparison to the world:
8
Exports:
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
$1.184 billion
(2016 est.)
$1.019 billion
(2015 est.)
country comparison to the world:
153
Exports - partners:
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
Russia 26.4%, UK 14.1%, Germany 8.4%, China 7.9%, Spain 6.8%, Denmark 6.2%, US 4.7%, Poland 4.4%, Norway 4.1%
(2017)
Exports - commodities:
This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
fish and fish products (97%)
(2017 est.)
Imports:
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
$978.4 million
(2016 est.)
$906.1 million
(2015 est.)
country comparison to the world:
185
Imports - commodities:
This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
goods for household consumption, machinery and transport equipment, fuels, raw materials and semi-manufactures, cars
Imports - partners:
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
Denmark 33%, China 10.7%, Germany 7.6%, Poland 6.8%, Norway 6.7%, Ireland 5%, Chile 4.3%
(2017)
Debt - external:
This entry gives the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods, or services. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
$387.6 million
(2012)
$274.5 million
(2010)
country comparison to the world:
182
Stock of direct foreign investment - at home:
This entry gives the cumulative US dollar value of all investments in the home country made directly by residents - primarily companies - of other countries as of the end of the time period indicated. Direct investment excludes investment through purchase of shares.
Exchange rates:
This entry provides the average annual price of a country's monetary unit for the time period specified, expressed in units of local currency per US dollar, as determined by international market forces or by official fiat. The International Organization for Standardization (ISO) 4217 alphabetic currency code for the national medium of exchange is presented in parenthesis. Closing daily exchange rates are not presented in The World Factbook, but are used to convert stock values - e.g., the . . .
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Danish kroner (DKK) per US dollar -
6.586
(2017 est.)
6.7269
(2016 est.)
6.7269
(2015 est.)
6.7236
(2014 est.)
5.6125
(2013 est.)
Image DescriptionThis is the population pyramid for the Faroe Islands . A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends.