Economy of Faeroe Islands
Imports commoditiesgoods for household consumption 24%, machinery and transport equipment 23.5%, fuels 21.4%, raw materials and semi-manufactures, salt
Import partnersDenmark 42%, Norway 32%, Germany 8.7%, Iceland 5.3% (2012)
ExportsExports commoditiesfish and fish products 94%, stamps, ships
Export partnersDenmark 23.4%, UK 21%, Nigeria 13.4%, US 8.9%, Netherlands 8.4%, Russia 7%, China 4.4% (2012)
Economy sectorsAgriculture productsmilk, potatoes, vegetables; sheep; salmon, other fish
Industrial productsfishing, fish processing, small ship repair and refurbishment, handicrafts
EconomyGDP PPP per land area1.06 Million $ per square kilometer (2010)997 Thousand $ per square kilometer (2008)718 Thousand $ per square kilometer (2001)
Electricity
Electricity - installed generating capacity100 Thousand kW
GDP decomposition by sectorAgriculture % of GDP16.0 % (2007)
Industry % of GDP29.0 % (2007)
Services % of GDP55.0 % (2007)
Debt, Current Account Balance and Budget DeficitBudget surplus (+) or deficit (-)-11.90 % of GDP
Current Account Balance (Percentage of GDP)-1.12 % of GDP (2009)-1.27 % of GDP (2008)-3.54 % of GDP (2007)
