The Faroe Islands are an archipelago between the Norwegian Sea and the North Atlantic approximately halfway between Norway and Iceland, 320 kilometres (200 miles) north-northwest of mainland Scotland. The islands are an autonomous territory within the Kingdom of Denmark. [1]
Economic troubles caused by a collapse of the Faroese fishing industry in the early 1990s brought high unemployment rates of 10 to 15% by the mid-1990s. [2] Unemployment decreased in the later 1990s, down to about 6% at the end of 1998. [2] By June 2008 unemployment had declined to 1.1%, before rising to 3.4% in early 2009. [2] In December 2014 [3] the unemployment was 3.2%. Nevertheless, the almost total dependence on fishing and fish farming means that the economy remains vulnerable. One of the biggest private companies of the Faroe Islands is the salmon-farming company Bakkafrost, which is the largest of the four salmon-farming companies in the Faroe Islands [4] and the eighth-biggest in the world. [5]
This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
Name | Industry | Sector | Headquarters | Founded | Notes |
---|---|---|---|---|---|
Atlantic Airways | Consumer services | Airlines | Sørvágur | 1987 | Airline |
Atlantic Petroleum | Oil & gas | Exploration & production | Tórshavn | 1998 | Private oil and gas exploration |
Bakkafrost | Consumer goods | Farming & fishing | Glyvrar | 1968 | Salmon farming |
Dimmalætting | Consumer services | Publishing | Tórshavn | 1877 | Newspaper |
Eik Banki | Financial services | Banks | Tórshavn | 1832 | Financial services |
FaroeJet | Consumer services | Airlines | Vágar | 2005 | Airline, defunct 2006 |
Föroya Bjór | Consumer goods | Brewers | Klaksvík | 1888 | Brewery |
Hey | Telecommunications | Mobile telecommunications | Tórshavn | 2000 | Mobile network |
Kringvarp Føroya | Consumer services | Broadcasting & entertainment | Tórshavn | 1957 | Public television and radio station |
Posta | Industrials | Delivery services | Tórshavn | 1976 | Postal services |
Restorffs Bryggjarí | Consumer goods | Brewers | Tórshavn | 1849 | Brewery, defunct 2007 |
Rúsdrekkasøla Landsins | Consumer services | Food retailers & wholesalers | Tórshavn | 1992 | Alcoholic beverages retail |
SEV | Utilities | Alternative electricity | Tórshavn | 1946 | Power, hydro-electrical |
SeWave | Utilities | Alternative electricity | Tórshavn [6] | 2002 | Wave farm project |
Smyril Line | Industrials | Marine transportation | Tórshavn | 1983 | Shipping |
Sosialurin | Consumer services | Publishing | Tórshavn | 1927 | Newspaper |
Strandfaraskip Landsins | Consumer services | Travel & tourism | Suðuroy | 1917 | Public transportation |
The Faroe Insurance Company | Financials | Full line insurance | Tórshavn | 1965 | Insurance |
The politics of the Faroe Islands, an autonomous country of the Kingdom of Denmark, function within the framework of a parliamentary, representative democratic dependency, whereby the Prime Minister of the Faroe Islands is the head of government, and of a multi-party system. The Faroe Islands are politically associated with the Kingdom of Denmark but have been self-governing since 1948. Executive power is exercised by the government. Legislative power is vested in both the government and the Løgting. The judiciary is independent of the executive and the legislature and the responsibility of Denmark. As of October 25, 2007, the Faroe Islands became one electoral district.
The economy of the Faroe Islands was the 166th largest in the world in 2014, having a nominal gross domestic product (GDP) of $2.613 billion per annum. GDP increased from DKK 8 billion in 1999, to 21 billion in 2019. The vast majority of Faroese exports, around 90%, consists of fishery products.
The flag of the Faroe Islands is an offset cross, representing Christianity. It is similar in design to other Nordic flags – a tradition set by the Dannebrog of Denmark, of which the Faroe Islands are an autonomous territory.
The Inatsisartut, also known as the Parliament of Greenland in English, is the unicameral parliament of Greenland, an autonomous territory in the Danish realm. Established in 1979, it meets in Inatsisartut, on the islet of Nuuk Center in central Nuuk.
Sjálvstýri is a liberal, autonomist political party on the Faroe Islands. It is currently led by the Mayor of Klaksvík, Jógvan Skorheim.
The Faroese People's Party – Radical Self-Government is a pro-Faroese independence conservative and conservative-liberal political party on the Faroe Islands led by Beinir Johannesen. One of the four major parties, it has had eight seats in the Løgting since the 2019 election, making it the joint-largest party, but it has neither of the Faroes' seats in the Folketing.
Lesbian, gay, bisexual, and transgender (LGBT) rights in the Faroe Islands are relatively similar to that of Denmark. The progress of LGBT rights has been slower, however. While same-sex sexual activity has been legal in the Faroe Islands since the 1930s, same-sex couples never had a right to a registered partnership. In April 2016, the Løgting passed legislation legalizing civil same-sex marriage on the Faroes, recognizing same-sex marriages established in Denmark and abroad and allowing same-sex adoption. This was ratified by the Folketing in April 2017. The law went into effect on 1 July 2017.
The Danish Realm, officially the Kingdom of Denmark, is a sovereign state located in Northern Europe and Northern North America. It consists of metropolitan Denmark, the kingdom's territory in continental Europe and sometimes called "Denmark proper", and the realm's two autonomous regions: the Faroe Islands and Greenland. The relationship between the three parts of the Kingdom is also known as The unity of the Realm.
The following outline is provided as an overview of and topical guide to the Faroe Islands:
The Faroe Islands, or simply the Faroes, are a North Atlantic island group and an autonomous territory of the Kingdom of Denmark.
The Faroe Islands, a self-governing nation within the Kingdom of Denmark, is not part of the EU, as explicitly asserted by both Rome treaties.
Høgni Reistrup is a Faroese singer, musician, writer and scientist from Tórshavn, Faroe Islands. He is the co-writer of the book Exit Føroyar ; he wrote it together with Heri á Rógvi. The books was published in 2012 and created a major debate in the Faroe Islands and in Denmark about the problems the Faroe Islands were facing with population decline in the islands, where the biggest problems seemed to be that half of the young people who moved away to study abroad never moved back again; especially the women did not move back again. After a period of six years with negative net migration in the Faroe Islands, the country saw an increase in the population in 2014 and 2015.
Important parts of Faroese cuisine are lamb and also fish owing to proximity to the sea. Traditional foods from the Faroe Islands include skerpikjøt, seafood, whale meat, blubber, garnatálg, Faroese puffins, potatoes, and few fresh vegetables.
Sjúrður Skaale is a Faroese politician, journalist, actor, singer, and comedian. He is a member of the Folketing for the Social Democratic Party. From 2008 to 2011 he was a member of the Løgting.
Ebba Hentze was a Faroese writer of children's books and a poet and translator.
The Faroese independence movement, or the Faroese national movement, is a political movement which seeks the establishment of the Faroe Islands as a sovereign state outside Denmark. Reasons for complete autonomy include the linguistic and cultural divide between Denmark and the Faroe Islands as well as their lack of proximity to one another; the Faroe Islands are about 990 km from Danish shores.
The levels of education in the Faroe Islands are primary, secondary and higher education. Most institutions are funded by the state; there are few private schools in the country. Education is compulsory for 9 years between the ages of 7 and 16.
P/F Bakkafrost is a Faroese salmon farming company based in Glyvrar on the island of Eysturoy in the Faroe Islands. Bakkafrost is the largest fish farming company in the Faroe Islands, and is the biggest private employer in the islands. Bakkafrost is the third-largest fish farming company in the world.
Energy in the Faroe Islands is produced primarily from imported fossil fuels, with further contributions from hydro and wind power. Oil products are the main energy source, mainly consumed by fishing vessels and sea transport. Electricity is produced by oil, hydropower and wind farms, mainly by SEV, which is owned by all the municipalities of the Faroe Islands. The Faroe Islands are not connected by power lines with continental Europe, and thus the archipelago cannot import or export electricity.
The COVID-19 pandemic was confirmed to have reached the Faroe Islands, an autonomous territory of Denmark, in March 2020. The confirmed infection rate was 1 case per 280 inhabitants, one of the highest rates in the world, but the archipelago also tested at a very high frequency, with the number of tests equaling c. 34 per cent of the population. As of 28 February 2022, there have been 34648 confirmed cases. Among these, 31 persons have died with COVID-19.
Denmark has established very specific territorial autonomies with its two island territories
Faroese and Greenlandic are seen as official regional languages in the self-governing territories belonging to Denmark.
The Faroe Islands [...] is one of three autonomous territories in the Nordic Region