Faeroe Islands


Currency

The official currency of Faeroe Islands is Krona (sign: kr).

Capital

Torshavn

Location

Faeroe Islands is located between Iceland and Norway in the North Atlantic Ocean.


Faeroe Islands Location

Population

Estimated population (2014): 48,660

Estimated population (2000): 46,022

Estimated population (1950): 15,000

Flag


Faeroe Islands Flag

Economy

The economy of the Faeroe Islands is dependent on fishing. The Faeroe Islands have one of the lowest unemployment rates in Europe, this is however mainly because many young students move to Denmark and other countries once they are finished with high school. This leaves an elderly population behind that lack the skills and knowledge to take IT positions.