The Faroese economy has experienced a period of significant growth since 2011, due to higher fish prices and increased salmon farming and catches in the pelagic fisheries. Fishing has been the main source of income for the Faroe Islands since the late 19th century, but dependence on fishing makes the economy vulnerable to price fluctuations. Nominal GDP, measured in current prices, grew 8.0% in 2015 and 7.8% in 2016. The fisheries sector accounts for about 97% of exports and half of GDP. Unemployment is low, estimated at 2.5% in early 2017. Aided by an annual subsidy from Denmark,...
|Balance of Goods||2011||56,966,108||90,419,571||USD||Annual|
|Current Account Balance||2011||194,304,400||144,276,278||USD||Annual|
|Imports of Goods||2011||949,025,028||744,694,411||USD||Annual|
|Exports of Goods||2011||1,005,991,137||835,113,982||USD||Annual|
|Birth Rate||2015||12.4||# per Ths. pop.||Annual|
|Death Rate||2013||7.6||# per Ths. pop.||Annual|