Faroe Islands Economy - 1986

GEOGRAPHICAL NAMES 

GDP: $369 3 million (1980), about $8,800 per capita

Natural resources: fish

Agriculture: sheep and cattle grazing

Fishing- catch 329,900 metric tons (1983);

exports, $162.3 million (1980)

Major industry: fishing

Electric power: 67,000 kW capacity (1985);

215 million kWh produced (1985), 4,780 kWh per capita

Exports $178.7 million (f.o.b., 1980); mostly fish and fish products

Imports; $222.1 million (c.i.f., 1980); machinery and transport equipment, petroleum and petroleum products, food products

Major trade partners: exports 21.3% Denmark, 13.4% UK, 12.4% FRG, 11.7% US (1980)

Budget, (FY81) expenditures, $98.8 million, revenues, $98.8 million

Monetary conversion rate: 10.80 Danish kroner=US$l (November 1984 average)

Fiscal year: calendar year

NOTE: The information regarding Faroe Islands on this page is re-published from the 1986 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Faroe Islands 1986 information contained here. All suggestions for corrections of any errors about Faroe Islands 1986 should be addressed to the CIA or the source cited on each page.