NCBuy Home

 
Economy Faroe Islands
Flag of Faroe Islands Faroe Islands
Population: 46,662 (July 2004 est.)
Capital: Torshavn
[ Select Another Country ]

Tabular Data - The Faroese Economy

GDP : purchasing power parity - $1 billion (2001 est.)
GDP - Real Growth Rate : 10% (2001 est.)
GDP - Per Capita : purchasing power parity - $22,000 (2001 est.)
GDP - Composition By Sector : agriculture: 27%
industry: 11%
services: 62% (1999)
Inflation Rate (Consumer Prices) : 5.1% (1999)
Labor Force : 24,250 (October 2000)
Labor Force - By Occupation : fishing, fish processing, and manufacturing 33%, construction and private services 33%, public services 34%
Budget : revenues: $488 million
expenditures: $484 million, including capital expenditures of $21 million (1999)
Industries : fishing, fish processing, shipbuilding, construction, handicrafts
Industrial Production Growth Rate : 8% (1999 est.)
Electricity - Production : 160.4 million kWh (2001)
Electricity - Production by Source : fossil fuel: 62.4%
hydro: 37.6%
nuclear: 0%
other: 0% (2001)
Electricity - Consumption : 149.1 million kWh (2001)
Agriculture - Products : milk, potatoes, vegetables; sheep; salmon, other fish
Exports : $408 million f.o.b. (2002)
Exports - Commodities : fish and fish products 94%, stamps, ships (1999)
Exports - Partners : Denmark 37.7%, UK 33.9%, Norway 6.7%, Netherlands 6.5% (2003 est.)
Imports : $466 million c.i.f. (2002)
Imports - Commodities : machinery and transport equipment 29%, consumer goods 36%, raw materials and semi-manufactures 32%, fuels, fish and salt (1999)
Imports - Partners : Denmark 53.5%, Norway 19.6%, Iceland 4.6%, Germany 4.1% (2003 est.)
Debt - External : $64 million (1999)
Economic Aid - Recipient : $135 million (annual subsidy from Denmark) (1998)
Currency : Danish krone (DKK)
Currency Code : DKK
Exchange Rates : Danish kroner per US dollar - 6.5877 (2003), 7.89 (2002), 8.323 (2001), 8.083 (2000), 6.976 (1999)
Fiscal Year : Calendar Year

Country References
Country profile data for Faroe Islands

  • Economy Intro
  • Flag Description
 

Tabular Data
  • Economy
  • Communications
  • Geography
  • Government
  • Health
  • Issues
  • People
  • Transportation
 
Additional Resources
 
Countries Center »  

Travel Features
Reviews of travel reward credit cards.

 
Discover America »  

NCBuy Home  |  About NCBuy  |  Members Center  |  Contacts  |  Privacy  |  Site Map  |  Link 2 Us

Copyright © 2009 NetCent Communications, All rights reserved. Terms under which this service is provided.
Data Source: Central Intelligence Agency 2004 World Factbook