Country Info:
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Faroe Islands Location:
62°00'N, 06°47'W
Faroe Islands Geography:
The Faroe Islands are an island group consisting of eighteen islands off the coast of Northern Europe, between the Norwegian Sea and the north Atlantic Ocean, about halfway between Iceland and Norway; the closest neighbours being the Northern and Western Isles of Scotland. Its coordinates are 62°00'N, 06°47'W.
Its area is 1,399 square kilometres (540 sq. mi), and has no major lakes or rivers. There are 1,117 kilometres (694 mi) of coastline, and no land boundaries with any other country. The only island that is uninhabited is Lítla Dímun.
Faroe Islands People:
Population
- December 2006 estimate 48,317 (214th)
- 2004 census 48,470
- Density 34 /km2 (169th)
88 /sq mi
Faroe Islands Government:
Government
- Monarch Margrethe II
- Prime Minister Jóannes Eidesgaard
Faroe Islands Economy:
After the severe economic troubles of the early 1990s, brought on by a drop in the vital fish catch and poor management of the economy, the Faroe Islands have come back in the last few years, with unemployment down to 5% in mid-1998. The practice of whaling by the Faroese has, however, drawn international criticism. In 2006 unemployment declined to 3%, one of the lowest rates in Europe. Nevertheless, the almost total dependence on fishing means that the economy remains extremely vulnerable. The Faroese hope to broaden their economic base by building new fish-processing plants. An agrarian society, other than fishing, the raising of sheep is the main industry of the islands. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may provide a basis for sustained economic prosperity.
Since 2000, new information technology and business projects have been fostered in the Faroe Islands to attract new investment. The introduction of Burger King in Tórshavn was widely publicized and a sign of the globalization of the Faroese Culture. It is not yet known whether these projects will succeed in broadening the islands' economic base. While having one of the lowest unemployment rates in Europe, this should not necessarily be taken as a sign of a recovering economy, as many young students move to Denmark and other countries once they are finished with high school. This leaves a largely middle-aged and elderly population that may lack the skills and knowledge to fill newly developed computing positions on the Faroes.
Faroe Islands More Information:
http://en.wikipedia.org/wiki/Faroe_Islands |
