|
Faroe Islands

Quick 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.
Geography:
People:
Government:
Economy:
GDP:
|
purchasing power parity - $910 million (2000 est.)
|
|
GDP - real growth rate:
|
5% (2000 est.)
|
Inflation rate (consumer prices):
|
5.1% (1999)
|
|
|
1% (October 2000)
|
|
|
fishing, fish processing, shipbuilding, construction, handicrafts
|
|
Industrial production growth rate:
|
8% (1999 est.)
|
|
Electricity - production:
|
165 million kWh (2000)
|
|
|
milk, potatoes, vegetables; sheep; salmon, other fish
|
|
Exports:
|
$471 million (f.o.b., 1999)
|
|
Exports - commodities:
|
fish and fish products 94%, stamps, ships (1999)
|
|
|
Danish krone (DKK)
|
|
Currency code:
|
DKK
|
|
| Communications:
Transportation:
History:
ca.600 ?Celtic settlers (Irish monks) make it to the Faroes.
ca.900The Faroe Islands are colonized by Norwegian settlers.
1035The Faroe Islands become a Norwegian dependency.
1380Along with Norway, the Faroes become united with Denmark.
1709The Faroes become (technically) a part of Zealand, Denmark.
1814When Denmark cedes Norway in the peace treaty of Kiel, the
Faroes remain with Denmark.
1880The independence movement starts.
1940-45The Faroes are occupied by British forces during WWII. Trade
with the UK leads to economic growth. The Faroese flag is
commonly used since the UK does not tolerate the flag of
German-occupied Denmark.
1948The Faroe Islands are granted autonomy within the Danish
Kingdom.
1973When Denmark joins the European Community (EC) the Faroe
Islands choose to stay outside the EC.
1980sGood prospects in the fishing industry lead the Faroes to
invest large sums in infrastructure to prevent depopulation
of small villages.
1990sA recession in the fishing industry leaves the Faroes with
a large debt and in an economic crisis. Emigration to
Denmark increases.
Related Links:
See a map of the Faroe Islands
|