Faroe Islands (GPS: 62 00 N, 7 00 W) located in Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about halfway between Iceland and Norway. The country’s area measurements are total: 1,393 sq km; land: 1,393 sq km, water: 0 sq km. This sovereign state is eight times the size of Washington, DC. The total irrigated land is N/A.
One of the Faroe Islands’ important features: Archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets. Strategically located along vital sea lanes in northeastern Atlantic. Precipitous terrain limits habitation to small coastal lowlands.
It’s significant, and simultaneously, the principal city, Torshavn’s GPS coordinates are 62 00 N 6 46 W. Torshavn’s local time is 5 hours ahead of Washington DC during Standard Time. The capital’s time difference: UTC 0, note; Daylight saving time: +1hr begins last Sunday in March; ends last Sunday in October.
The population of the Faroe Islands is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. A high degree of self-government was granted by the Faroese in 1948, who have autonomy over most internal affairs while Denmark is responsible for justice, defense, and foreign affairs. The Faroe Islands are not part of the European Union.
Faroe Islands’ names 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. The archipelago’s name may derive from the Old Norse word “faer,” meaning sheep.
Faroe Islands’ terrain is typically rugged, rocky, with some low peaks, cliffs, and most of the coast. The country’s mean elevation: N/A, elevation extremes; lowest point: Atlantic Ocean 0 m, highest point: Slaettaratindur 882 m.
The country’s general climate; mild winters, cool summers: usually overcast: foggy, windy.
The total number of border countries is 0; none are the neighboring nations with the indicated border lengths. Faroe Islands’ coastline is 1,117 km. Its marital claims are: territorial sea: 3 nautical miles, continental shelf: 200 nautical miles or agreed boundaries or median line exclusive fishing zone: 200 nautical miles or agreed boundaries or median line. Waterways: N/A. Land use: agricultural land: 2.1%; arable land 2.1%; permanent crops 0%; permanent pasture 0%; forest: 0.1%; other: 97.8% (2011 estimate).
The population in Faroe Islands 51,018 (July 2018 estimate), urban population: 42% of total population (2015), major urban area’s population: TORSHAVN (capital) 21,000 (2014), while the Faroe Islands has 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 less than 100 people. Their spoken languages are Faroese 93.8% (derived from Old Norse), Danish 3.2%, other 3% (2011 estimate). Main religions in Faroe Islands are Christian 89.3% (predominantly Evangelical Lutheran), other 0.7%, more than one religion 0.2%, none 3.8%, unspecified 6% (2011 estimate). The nation uses the laws of Denmark, where applicable, apply. It is a(n) parliamentary democracy (Faroese Parliament); part of the Kingdom of Denmark, National holiday(s) Olaifest (Olavsoka), 29 July.
Economic overview for the country: The Faroese economy has experienced significant growth since 2011 due to higher fish prices and increased salmon farming and catches in the pelagic fisheries. Fishing has been the primary income source 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 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, which continued in 2017. The local government intends to reduce public debt, which reached 38% of GDP in 2015. Fiscal sustainability analysis of the Faroese economy shows that a long-term tightening of 5% of GDP fiscal policy 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.
Natural resources of Faroe Islands: fish, whales, hydropower, possible oil and gas.
Main export partners for the Faroe Islands, Europe are Russia 20.2%, UK 16.6%, Denmark 16.3%, Nigeria 11.6%, China 9.3%, US 7.2%, Netherlands 5.6%, Norway 4% (2015) for fish and fish products 95%, ships (2009 estimate), while the main import partners for the country are: Denmark 43.9%, Turkey 12.3%, Norway 10%, China 6.2%, Netherlands 4.9%, Germany 4.4% (2015) for goods for household consumption, machinery and transport equipment, fuels, raw materials, and semi-manufactures, cars.
When you visit this country in Europe, consider the Faroe Islands’ natural hazards: N/A, while infectious diseases are N/A. Also, note that the Faroe Islands faces the following environmental issues: Coastal erosion, landslides, and rockfalls, flash flooding, wind storms, Oil spills.
You may also be interested in the countries next to the Faroe Islands around its 0 km border – No border countries.