Faroe Islands
Official Country Name
Faroe Islands
Faroe Islands Overview
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 attained in 1948.
Faroe Islands Economy
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. 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 (about 15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.
Faroe Islands Location
Faroe Islands is located in Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway
Region
Faroe Islands is located in Europe
Faroe Islands Population
Faroe Islands has population of 47,246 (July 2006 est.)
Faroe Islands Climate
Faroe Islands has mild winters, cool summers; usually overcast; foggy, windy
Faroe Islands Terrain
rugged, rocky, some low peaks; cliffs along most of coast
Faroe Islands Natural Resources
fish, whales, hydropower, possible oil and gas
Ethnic Groups in Faroe Islands
Faroe Islands has the following ethnic groups - Scandinavian
Faroe Islands Religions
Evangelical Lutheran
Faroe Islands Languages
Faroese (derived from Old Norse), Danish
Faroe Islands Capital
Faroe Islands capital is Torshavn
Faroe Islands Currency
Faroe Islands currency is Danish krone
Map of Faroe Islands
