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Faroe Islands
Foroyar
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Angelo Gandola Srl
Passerelle Angelo Gandola S.r.l. eleganza e comfort non sono mai stati così vicini.
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Cantiani Pubblicità & Mkt.
Da 30 anni facciamo volare le idee. Soluzioni di marketing e strategie, creatività e design, advertising e media, ufficio stampa.
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Frigel
We are specialists in finding the best solution for the most different needs in Process Cooling and Temperature Control
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EconomyFaroe Islands
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions

Economy - overview:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. The sector accounts for 95% of exports and nearly half of GDP. Since 2003 the Faroese economy has picked up as a result of higher prices for fish and for housing. Unemployment is minimal and government finances are relatively sound. Oil finds close to the Islands give hope for economically recoverable deposits, which could eventually lay the basis for a more diversified economy and lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy - approximately $113 million in 2007, about 5% of GDP and 10% of government revenue - from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.

GDP (purchasing power parity):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$1 billion (2001 est.)

GDP - per capita (PPP):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$31,000 (2001 est.)

GDP (official exchange rate):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$2.4 billion (2005 est.)

GDP - real growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2.4% (2005 est.)

GDP - composition by sector:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: 27%
industry: 11%
services: 62% (1999)

Investment (gross fixed):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Population below poverty line:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

NA%

Household income or consumption by percentage share:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

lowest 10%: NA%
highest 10%: NA%

Distribution of family income - Gini index:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Inflation rate (consumer prices):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

6.4% (2008 est.) 1.8% (2005)

Central bank discount rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Commercial bank prime lending rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of money - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of quasi money:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of quasi money - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of domestic credit:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of domestic credit - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Labor force:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

29,430 (October 2000)

Labor force participation rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

60.24 % of population

Labor force - by occupation:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: 10.2%
industry: 20.5%
services: 69.2% (2007)

Unemployment rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1.2% (2008 est.)
1.4% (2006)

Budget:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

revenues: $588 million
expenditures: $623 million (2005)

Budget revenues per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

12,036 USD per capita

Public debt:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Industries:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

fishing, fish processing, small ship repair and refurbishment, handicrafts

Industrial production growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

8% (1999 est.)

Electricity - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

243.7 million kWh (2007 est.)

Electricity - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4,989 kWh per capita

Electricity - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

226.6 million kWh (2007 est.)

Electricity - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4,639 kWh per capita

Electricity - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2008 est.)

Electricity - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2008 est.)

Oil - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl/day (2008 est.)

Oil - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Oil - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

5,000 bbl/day (2008 est.)

Oil - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

37.35 bbl/year per capita

Oil - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl/day (2007 est.)

Oil - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4,922 bbl/day (2007 est.)

Oil - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl (1 January 2009 est.)

Natural gas - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2008 est.)

Natural gas - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Natural gas - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2008 est.)

Natural gas - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Natural gas - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2008 est.)

Natural gas - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2008 est.)

Natural gas - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (1 January 2009 est.)

Agriculture - products:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

milk, potatoes, vegetables; sheep; salmon, other fish

Current account balance:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Current account balance - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$980 million (2008 est.); $634 million (2006)

Exports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

20,059 USD per capita

Exports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

fish and fish products 94%, stamps, ships

Exports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Denmark 27.3%, UK 18.6%, Croatia 12%, Norway 11.7%, Nigeria 10%, Netherlands 5.5% (2008)

Imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$1.008 billion (2008 est.); $751 million (2006)

Imports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

20,633 USD per capita

Imports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

consumer goods 36%, raw materials and semi-manufactures 32%, machinery and transport equipment 29%, fuels, fish, salt

Imports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Denmark 50.4%, Norway 20.2%, Sweden 6.4%, UK 4.2%, Iceland 4.1% (2008)

Reserves of foreign exchange and gold:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Reserves of foreign exchange and gold - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Debt - external:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$64 million (1999 est.)

Debt - external - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,310 USD per capita

Stock of direct foreign investment - at home:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - at home - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - abroad:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Stock of direct foreign investment - abroad - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Market value of publicly traded shares:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Market value of publicly traded shares - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Economic aid - donor:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Economic aid - recipient:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$105 million

Economic aid - recipient per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2,150 USD per capita

Currency (code):
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Danish krone (DKK)

Exchange rates:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Danish kroner (DKK) per US dollar - 5.4742 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005)

Fiscal year:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

calendar year
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions


This page was last updated on 30 January, 2010

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