The official currency of Faeroe Islands is Krona (sign: kr).
Faeroe Islands is located between Iceland and Norway in the North Atlantic Ocean.
Estimated population (2014): 48,660
Estimated population (2000): 46,022
Estimated population (1950): 15,000
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.