Chapter 40
Economy - overview: The economy was formerly based on agriculture, mainly sheep farming, which directly or indirectly employs most of the work force. Dairy farming supports domestic consumption; crops furnish winter fodder. Exports feature shipments of high-grade wool to the UK and the sale of postage stamps and coins. Rich stocks of fish in the surrounding waters are not presently exploited by the islanders. So far, efforts to establish a domestic fishing industry have been unsuccessful. The economy has diversified since 1987, when the government began selling fishing licenses to foreign trawlers operating within the Falklands exclusive fishing zone. These license fees total more than $40 million per year and support the island's health, education, and welfare system. To encourage tourism, the Falkland Islands Development Corporation has built three lodges for visitors attracted by the abundant wildlife and trout fishing. The islands are now self-financing except for defense. The British Geological Survey announced a 200-mile oil exploration zone around the islands in 1993, and early seismic surveys suggest substantial reserves capable of producing 500,000 barrels per day. An agreement between Argentina and the United Kingdom in 1995 seeks to defuse licensing and sovereignty conflicts that would dampen foreign interest in exploiting potential oil reserves.
GDP: purchasing power parity - $NA
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $NA
GDP - composition by sector: agriculture: NA% industry: NA% services: NA%
Inflation rate - consumer price index: NA%
Labor force: total: 1,100 (est.) by occupation: agriculture 95% (mostly sheepherding)
Unemployment rate: NA%; labor shortage
Budget: revenues: $53.4 million expenditures: $53.1 million, including capital expenditures of $NA (1994-95 est.)
Industries: wool and fish processing
Industrial production growth rate: NA%
Electricity - capacity: NA kW
Electricity - production: NA kWh
Electricity - consumption per capita: NA kWh
Agriculture - products: fodder and vegetable crops; sheep farming, small dairy herds
Exports: total value: $7.6 million (1995) commodities: wool, hides, meat partners: UK, Netherlands, Japan (1992)
Imports: total value : $24.7 million (1995) commodities: food, clothing, timber, and machinery partners : UK, Netherlands Antilles (Curacao), Japan (1992)
Debt - external: $NA
Economic aid: recipient: ODA, $NA note: UK, ODA and OOF bilateral commitments totaled $18 million (1993-94)
Currency: 1 Falkland pound (£F) = 100 pence
Exchange rates: Falkland pound (£F) per US$1 - 0.6023 (January 1997), 0.6403 (1996), 0.6335 (1995), 0.6529 (1994), 0.6658 (1993), 0.5664 (1992); note - the Falkland pound is at par with the British pound
Fiscal year: 1 April - 31 March
@Falkland Islands (Islas Malvinas):Communications
Telephones: 1,180 (1991 est.)
Telephone system: domestic: government-operated radiotelephone and private VHF/CB radiotelephone networks provide effective service to almost all points on both islands international: satellite earth station - 1 Intelsat (Atlantic Ocean) with links through London to other countries
Radio broadcast stations: 1 (government operated)
Radios: 1,000 (1992 est.)
Television broadcast stations: 1 (government operated)
Televisions: NA
@Falkland Islands (Islas Malvinas):Transportation
Railways: 0 km
Highways: total: 510 km paved: 30 km unpaved : 480 km
Ports and harbors: Stanley
Merchant marine: none
Airports: 5 (1996 est.)
Airports - with paved runways: total: 5 2,438 to 3,047 m: 1 under 914 m: 4 (1996 est.)
Military
Military branches: British Forces Falkland Islands (includes Army, Royal Air Force, Royal Navy, and Royal Marines), Police Force
Military expenditures - dollar figure: $NA
Military expenditures - percent of GDP: NA%
Military - note: defense is the responsibility of the UK
Transnational Issues
Disputes - international: administered by the UK, claimed by Argentina ______________________________________________________________________
FAROE ISLANDS
(part of the Danish realm)
@Faroe Islands:Geography
Location: Northern Europe, island group between the Norwegian Sea and the north Atlantic Ocean, about one-half of the way from Iceland to Norway
Geographic coordinates: 62 00 N, 7 00 W
Map references: Europe
Area: total: 1,399 sq km land: 1,399 sq km water: 0 sq km (some lakes and streams)
Area - comparative: eight times the size of Washington, DC
Land boundaries: 0 km
Coastline: 1,117 km
Maritime claims: exclusive fishing zone: 200 nm territorial sea: 3 nm
Climate: mild winters, cool summers; usually overcast; foggy, windy
Terrain: rugged, rocky, some low peaks; cliffs along most of coast
Elevation extremes: lowest point : Atlantic Ocean 0 m highest point: Slaettaratindur 882 m
Natural resources: fish, whales
Land use: arable land: 6% permanent crops: 0% permanent pastures : 0% forests and woodland: 0% other: 94% (1996)
Irrigated land: 0 sq km
Natural hazards: NA
Environment - current issues: NA
Environment - international agreements: party to: NA signed, but not ratified: NA
Geography - note: archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands
@Faroe Islands:People
Population: 39,873 (July 1997 est.)
Age structure: 0-14 years : 25% (male 4,960; female 4,812) 15-64 years: 60% (male 12,913; female 11,117) 65 years and over: 15% (male 2,708; female 3,363) (July 1997 est.)
Population growth rate: -6.36% (1997 est.)
Birth rate: 11.46 births/1,000 population (1997 est.)
Death rate: 9.05 deaths/1,000 population (1997 est.)
Net migration rate: -38.75 migrant(s)/1,000 population (1997 est.)
Sex ratio: at birth: 1.05 male(s)/female under 15 years : 1.03 male(s)/female 15-64 years: 1.16 male(s)/female 65 years and over: 0.8 male(s)/female total population: 1.07 male(s)/female (1997 est.)
Infant mortality rate: 10.7 deaths/1,000 live births (1997 est.)
Life expectancy at birth: total population: 78.37 years male: 75.41 years female : 81.32 years (1997 est.)
Total fertility rate: 2.37 children born/woman (1997 est.)
Nationality: noun : Faroese (singular and plural) adjective: Faroese
Ethnic groups: Scandinavian
Religions: Evangelical Lutheran
Languages: Faroese (derived from Old Norse), Danish
Literacy: NA note: similar to Denmark proper
@Faroe Islands:Government
Country name: conventional long form: none conventional short form: Faroe Islands local long form : none local short form: Foroyar
Data code: FO
Dependency status: part of the Danish realm; self-governing overseas administrative division of Denmark
Government type: NA
National capital: Torshavn
Administrative divisions: none (self-governing overseas administrative division of Denmark)
Independence: none (part of the Danish realm; self-governing overseas administrative division of Denmark)
National holiday: Birthday of the Queen, 16 April (1940)
Constitution: 5 June 1953 (Danish constitution)
Legal system: Danish
Suffrage: 18 years of age; universal
Executive branch: chief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Ms. Vibeke LARSEN, chief administrative officer (since mid-1995) head of government : Prime Minister Edmund JOENSEN (since 15 September 1994) cabinet: Landsstyri elected by the Faroese Parliament elections: the queen is a constitutional monarch; high commissioner appointed by the queen; following legislative elections, the leader of the party that wins the most seats is usually elected prime minister by the Faroese Parliament; election last held NA 1994 (next to be held NA 1998) election results: Edmund JOENSEN elected prime minister; percent of parliamentary vote - 23.4%
Legislative branch: unicameral Faroese Parliament or Logting (32 seats; members are elected on a proportional basis from the seven constituencies to serve four-year terms) elections: last held 7 July 1994 (next to be held by NA July 1998) election results: percent of vote by party - Unionist Party 23.4%, People's Party 16.0%, Social Democrats 15.4%, Republicans 13.7%, Workers' Party 9.5%, Christian People 6.3%, Center Party 5.8%, Home Rule Party 5.6%; seats by party - Unionist Party 8, People's Party 6, Social Democrats 5, Republicans 4, Workers' Party 3, Christian People 2, Center Party 2, Home Rule Party 2 note: election of 2 seats to the Danish Parliament was last held on 21 September 1994 (next to be held by September 1998); results - percent of vote by party - Unionist Party 22.5%, People's Party 21.7%; seats by party - Unionist Party 1, People's Party 1
Judicial branch: none
Political parties and leaders: Social Democratic Party [Joannes EIDESGAARD]; Workers' Party [Alis JACOBSEN]; Home Rule Party [Helena Dam A NEYSTABO]; Unionist Party [Edmund JOENSEN]; Republican Party [Heini O. HEINESEN]; Center Party [Tordur NICLASEN]; Christian People's Party [Niels Pauli DANIELSEN]; People's Party [Arnfinn KALLSBERG]
International organization participation: none
Diplomatic representation in the US: none (self-governing overseas administrative division of Denmark)
Diplomatic representation from the US: none (self-governing overseas administrative division of Denmark)
Flag description: white with a red cross outlined in blue that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)
Economy
Economy - overview: The Faroese economy in 1995 and 1996 saw a noticeable upturn after several years of decline brought on by a drop in fish catches and declining prices and by over-spending by the Faroese Home Rule Government (FHRG). In the early 1990s, property values plummeted, and the FHRG had to bail out and merge the two largest Faroese banks. Fishing is now improving; wage costs are increasing; the FHRG's budget is almost in balance; and the large foreign debt has come down significantly. Nevertheless, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the reduction in the foreign debt is at the cost of low investment. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may lay the basis for an eventual economic rebound. Aided by a substantial annual subsidy from Denmark, the Faroese have a standard of living comparable to the Danes and other Scandinavians.
GDP: purchasing power parity - $800 million (1996 est.)
GDP - real growth rate: 6% (1996 est.)
GDP - per capita: purchasing power parity - $16,300 (1996 est.)
GDP - composition by sector: agriculture: 20% industry: 16% services : 64% (1996 est.)
Inflation rate - consumer price index: 2.8% (1996 est.)
Labor force: total: 20,345 (1995 est.) by occupation: largely engaged in fishing, manufacturing, transportation, and commerce
Unemployment rate: 11% (1996 est.)
Budget: revenues : $467 million expenditures: $468 million, including capital expenditures of $11 million (1996 est.)
Industries: fishing, shipbuilding, construction, handicrafts
Industrial production growth rate: NA%
Electricity - capacity: 91,000 kW 000 kW
Electricity - production: 175.4 million kWh
Electricity - consumption per capita: 4,043 kWh (1995)
Agriculture - products: milk, potatoes, vegetables; sheep; salmon farming; fish
Exports: total value: $362 million (f.o.b., 1995) commodities : fish and fish products 92%, animal feedstuffs, transport equipment (ships) partners: Denmark 22.2%, UK 25.8%, Germany 9.7%, France 8.3%, Norway 6.2%, US 2.0%
Imports: total value: $315.6 (c.i.f., 1995) commodities: machinery and transport equipment 17.0%, consumer goods 33%, raw materials and semi-manufactures 26.9%, fuels 11.4%, fish and salt 6.7% partners : Denmark 34.5%, Norway 15.9%, UK 8.4% Germany 7.8%, Sweden 5.8%, US 1.5%
Debt - external: $767 million (1995 est.)
Economic aid: receives an annual subsidy from Denmark of about $150 million (1995)
Currency: 1 Danish krone (DKr) = 100 oere
Exchange rates: Danish kroner (DKr) per US$1 - 6.117 (January 1997), 5.799 (1966), 5.602 (1995), 6.361 (1994), 6.484 (1993), 6.036 (1992)
Fiscal year: calendar year
@Faroe Islands:Communications
Telephones: 26,000 of which about 3,500 are mobile telephones (1996)
Telephone system: good international communications; good domestic facilities domestic: digitalization to be completed in 1998 international: satellite earth stations - 1 Orion; 1 optical fiber submarine cable linking the Faroe Islands with Denmark and Iceland
Radio broadcast stations: AM 1, FM 1 (repeaters 13), shortwave 0
Radios: 11,800 (1996 est.)
Television broadcast stations: 1 (repeaters 45)
Televisions: 11,600 (1996 est.)
@Faroe Islands:Transportation
Railways: 0 km
Highways: total: 458 km paved: 450 km unpaved: 8 km (1995 est.)
Ports and harbors: Torshavn, Klaksvik, Tvoroyri, Runavik, Fuglafjordhur
Merchant marine: total : 6 ships (1,000 GRT or over) totaling 18,979 GRT/14,531 DWT ships by type: cargo 3, refrigerated cargo 1, roll-on/roll-off cargo 1, short-sea passenger 1 (1996 est.)
Airports: 1 (1996 est.)
Airports - with paved runways: total: 1 914 to 1,523 m : 1 (1996 est.)
Military
Military branches: no organized native military forces; only a small Police Force and Coast Guard are maintained
Military expenditures - dollar figure: $NA
Military expenditures - percent of GDP: NA%
Military - note: defense is the responsibility of Denmark
Transnational Issues
Disputes - international: none ______________________________________________________________________
FIJI
@Fiji:Geography
Location: Oceania, island group in the South Pacific Ocean, about two-thirds of the way from Hawaii to New Zealand
Geographic coordinates: 18 00 S, 175 00 E
Map references: Oceania
Area: total: 18,270 sq km land: 18,270 sq km water: 0 sq km
Area - comparative: slightly smaller than New Jersey
Land boundaries: 0 km
Coastline: 1,129 km
Maritime claims: measured from claimed archipelagic baselines continental shelf: 200-m depth or to the depth of exploitation; rectilinear shelf claim added exclusive economic zone: 200 nm territorial sea : 12 nm
Climate: tropical marine; only slight seasonal temperature variation
Terrain: mostly mountains of volcanic origin
Elevation extremes: lowest point : Pacific Ocean 0 m highest point: Tomanivi 1,324 m
Natural resources: timber, fish, gold, copper, offshore oil potential
Land use: arable land : 10% permanent crops: 4% permanent pastures: 10% forests and woodland: 65% other : 11% (1993 est.)
Irrigated land: 10 sq km (1993 est.)
Natural hazards: cyclonic storms can occur from November to January
Environment - current issues: deforestation; soil erosion
Environment - international agreements: party to : Biodiversity, Climate Change, Law of the Sea, Marine Life Conservation, Nuclear Test Ban, Ozone Layer Protection, Tropical Timber 83, Tropical Timber 94, Whaling signed, but not ratified: none of the selected agreements
Geography - note: includes 332 islands of which approximately 110 are inhabited
@Fiji:People
Population: 792,441 (July 1997 est.)
Age structure: 0-14 years: 35% (male 140,685; female 135,044) 15-64 years: 62% (male 246,128; female 246,001) 65 years and over : 3% (male 11,620; female 12,963) (July 1997 est.)
Population growth rate: 1.28% (1997 est.)
Birth rate: 23.12 births/1,000 population (1997 est.)
Death rate: 6.3 deaths/1,000 population (1997 est.)
Net migration rate: -4.07 migrant(s)/1,000 population (1997 est.)
Sex ratio: at birth: 1.05 male(s)/female under 15 years : 1.04 male(s)/female 15-64 years: 1 male(s)/female 65 years and over: 0.9 male(s)/female total population: 1.01 male(s)/female (1997 est.)
Infant mortality rate: 17 deaths/1,000 live births (1997 est.)
Life expectancy at birth: total population: 66 years male: 63.66 years female : 68.46 years (1997 est.)
Total fertility rate: 2.78 children born/woman (1997 est.)
Nationality: noun: Fijian(s) adjective: Fijian
Ethnic groups: Fijian 49%, Indian 46%, European, other Pacific Islanders, overseas Chinese, and other 5%
Religions: Christian 52% (Methodist 37%, Roman Catholic 9%), Hindu 38%, Muslim 8%, other 2% note: Fijians are mainly Christian, Indians are Hindu, and there is a Muslim minority (1986)
Languages: English (official), Fijian, Hindustani
Literacy: definition: age 15 and over can read and write total population : 91.6% male: 93.8% female: 89.3% (1995 est.)
@Fiji:Government
Country name: conventional long form: Republic of Fiji conventional short form : Fiji
Data code: FJ
Government type: republic note: military coup leader Maj. Gen. Sitiveni RABUKA formally declared Fiji a republic on 6 October 1987
National capital: Suva
Administrative divisions: 4 divisions and 1 dependency*; Central, Eastern, Northern, Rotuma*, Western
Independence: 10 October 1970 (from UK)
National holiday: Independence Day, 10 October (1970)
Constitution: 10 October 1970 (suspended 1 October 1987); a new constitution was proposed on 23 September 1988 and promulgated on 25 July 1990; the 1990 constitution is under review; the review is scheduled to be completed by 1997
Legal system: based on British system
Suffrage: 21 years of age; universal
Executive branch: chief of state: President Ratu Sir Kamisese MARA (acting president since 15 December 1993, president since 12 January 1994); First Vice President Ratu Sir Josaia TAIVAIQIA (since 12 January 1994); Second Vice President Ratu Inoke TAKIVEIKATA (since 12 January 1994) head of government: Prime Minister Sitiveni RABUKA (since 2 June 1992) cabinet: Cabinet appointed by the prime minister from among the members of Parliament and is responsible to Parliament note : there is also a Presidential Council that advises the president on matters of national importance and a Great Council of Chiefs which consists of the highest ranking members of the traditional chiefly system elections: president elected by the Great Council of Chiefs for a five-year term; prime minister appointed by the president election results : Ratu Sir Kamisese MARA elected president; percent of Great Council of Chiefs vote - NA
Legislative branch: bicameral Parliament consists of the Senate (34 seats; 24 reserved for ethnic Fijians, 9 for Indians and others, and 1 for the island of Rotuma; members appointed by the president to serve five-year terms) and the House of Representatives (70 seats; 37 reserved for ethnic Fijians, 27 for ethnic Indians, and 6 for independents and others; members elected by popular vote on a communal basis to serve five-year terms) elections: House of Representatives - last held 18-25 February 1994 (next to be held NA 1999) election results: House of Representatives - percent of vote by party - NA; seats by party - SVT 31, NFP 20, FLP 7, FAP 5, GVP 4, independents 2, ANC 1
Judicial branch: Supreme Court
Political parties and leaders: Fijian Political Party (SVT - primarily Fijian), leader Maj. Gen. Sitivini RABUKA; National Federation Party (NFP; primarily Indian), Jai Ram REDDY; Fijian Nationalist Party (FNP), Sakeasi BUTADROKA; Fiji Labor Party (FLP), Mahendra CHAUDHRY; General Voters Party (GVP), Leo SMITH; Fiji Conservative Party (FCP), leader NA; Conservative Party of Fiji (CPF), leader NA; Fiji Indian Liberal Party, leader NA; Fiji Indian Congress Party, leader NA; Fiji Independent Labor (Muslim), leader NA; Four Corners Party, leader NA; Fijian Association Party (FAP), Josevata KAMIKAMICA; General Electors' Association, leader NA note: in early 1995, ethnic Fijian members of the All National Congress (ANC) merged with the Fijian Association (FA); the remaining members of the ANC have renamed their party the General Electors' Association
International organization participation: ACP, AsDB, CP, ESCAP, FAO, G-77, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Intelsat, Interpol, IOC, ISO (subscriber), ITU, PCA, Sparteca, SPC, SPF, UN, UNCTAD, UNESCO, UNIDO, UNIFIL, UNIKOM, UNTAES, UPU, WFTU, WHO, WIPO, WMO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador Ratu Napolioni MASIREWA chancery: Suite 240, 2233 Wisconsin Avenue NW, Washington, DC 20007 telephone: [1] (202) 337-8320 FAX : [1] (202) 337-1996 consulate(s): New York
Diplomatic representation from the US: chief of mission : Ambassador Don Lee GEVIRTZ embassy: 31 Loftus Street, Suva mailing address: P. O. Box 218, Suva telephone: [679] 314466 FAX: [679] 300081
Flag description: light blue with the flag of the UK in the upper hoist-side quadrant and the Fijian shield centered on the outer half of the flag; the shield depicts a yellow lion above a white field quartered by the cross of Saint George featuring stalks of sugarcane, a palm tree, bananas, and a white dove
Economy
Economy - overview: Fiji, endowed with forest, mineral, and fish resources, is one of the most developed of the Pacific island economies, though still with a large subsistence sector. Sugar exports and tourism are the major sources of foreign exchange. Sugar processing makes up one-third of industrial activity. Roughly 250,000 tourists visit each year. Political uncertainty and drought, however, contribute to substantial fluctuations in earnings from tourism and sugar and to the emigration of skilled workers. In 1992, growth was approximately 3%, based on growth in tourism and a lessening of labor-management disputes in the sugar and gold-mining sectors. In 1993, the government's budgeted growth rate of 3% was not achieved because of a decline in non-sugar agricultural output and damage from Cyclone Kina. Growth in 1994 of 5% was largely attributable to increased tourism and expansion in the manufacturing sector.
GDP: purchasing power parity - $5.1 billion (1996 est.)
GDP - real growth rate: 5% (1996 est.)
GDP - per capita: purchasing power parity - $6,500 (1996 est.)
GDP - composition by sector: agriculture: 21% industry: 18% services: 61% (1995 est.)
Inflation rate - consumer price index: 3% (1997 est.)
Labor force: total: 235,000 by occupation: subsistence agriculture 67%, wage earners 18%, salary earners 15% (1987)
Unemployment rate: 6% (1997 est.)
Budget: revenues: $540.65 million expenditures : $742.65 million, including capital expenditures of $NA (1997 est.)
Industries: sugar, tourism, copra, gold, silver, clothing, lumber, small cottage industries
Industrial production growth rate: 2.9% (1995)
Electricity - capacity: 200,000 kW (1993)
Electricity - production: 510 million kWh (1994)
Electricity - consumption per capita: 660 kWh (1995 est.)
Agriculture - products: sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish catch 13,796 tons (1991)
Exports: total value : $607 million (f.o.b., 1995) commodities: sugar 32%, clothing, gold, processed fish, lumber partners: EU 26%, Australia 15%, other Pacific island countries 11%, Japan 6%
Imports: total value: $864 million (c.i.f., 1995) commodities: machinery and transport equipment, petroleum products, food, consumer goods, chemicals partners: Australia 30%, NZ 17%, Japan 13%, EU 6%, US 6%
Debt - external: $333.8 million (1996 est.)
Economic aid: recipient : ODA, $14.35 million from Australia (FY96/97 est.); $3.5 million from New Zealand (FY95/96)
Currency: 1 Fijian dollar (F$) = 100 cents
Exchange rates: Fijian dollars (F$) per US$1 - 1.4000 (January 1997), 1.4033 (1996), 1.4063 (1995), 1.4641 (1994), 1.5418 (1993), 1.5030 (1992)
Fiscal year: calendar year
@Fiji:Communications
Telephones: 60,017 (1987 est.)