Faroe Islands Background and Facts
12/18/2007 03:12 p.m.
Flag: 
Background: 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.
Location: Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway
Map: 
Area: eight times the size of Washington, DC
Climate: mild winters, cool summers; usually overcast; foggy, windy
Ethnic Groups: Scandinavian
Religions: Evangelical Lutheran
Languages: Faroese (derived from Old Norse), Danish
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.
Currency: Danish krone (DKK)
Tags: country background and facts, faroe islands
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