News

News overview. News published prior to 2019 can be accessed on our old website.

Total exports of goods fell by DKK 100 million in March 2020 compared with March 2019. Fish exports saw a particularly big drop, with DKK 50 million, or 8 percent, less than in March 2019

Exports of goods

March 2020 saw a 9% increase in imports of goods on March 2019

Imports of goods

The number of employees fell to about 25,300 in April. The biggest drop was in the private service sector.

Employees

DKK 4 million on April 2019. The general increase in wage expenditures in recent years has come to a standstill. The private service sector has seen a particularly big drop in wage payments.

Wage expenditures

While fewer people have been imprisoned and held in custody in the past two decades, there has been an increase in drug and weapons violations.

The police

Total exports of goods in March 2019-Feb. 2020 amounted to DKK 9.7 billion, which is an increase of DKK 1.2 million in the past 12-month period. The total amount of exported fish products increased by 4%.

Exports of goods

Imports of goods in Mar. 2019-Feb. 2020 amounted to DKK 8.4 billion, which is DKK 700 million more than the previous 12-month period.

Imports of goods

At 52,337 on March 1, the Faroese population grew by 841 (1.6%) in the 1 March 2019-1 March 2020 period. This growth consists of net migration (568) and an excess of births (273).

Population

There were about 2,000 court cases last year in the Faroese Court, about 2,400 cases in the bailiff’s court and about 550 in the probate and bankruptcy court.

The Faroese Court

In the last year, less than a third of all residential house sales took place in Tórshavn. But the average price in the capital was more than twice that of a house outside the capital region.

Number of sold houses and prices

Unemployment went down by 0.2% from January 2019 to January 2020.

Unemployment

This article outlines the developments in agricultural production over the past 10 years.

Agriculture

The retail sales figures (value converted to volume) for Q4 2019 show growth in two out of three commodity groups.

Retail trade index

The number of whale hunts is on a steady decline and they are also becoming smaller. Last year’s hunts yielded about 200 tonnes of meat and 180 tonnes of blubber.

Whale hunt

Below is an analysis of changes within each industry sector over the past five years.

Employees

Imports in Feb. 2019-Jan. 2020 amounted to DKK 8.4 billion, which is DKK 500 million more than the previous 12-month period.

Imports of goods

Total exports of goods in Feb. 2019-Jan. 2020 amounted to DKK 9.8 billion. This is an increase of DKK 1.4bn (17%) on the previous 12-month period.

Exports of goods

Just over DKK 890 million were paid out in wages in February, which is an increase of DKK 55 million on February last year.

Wage expenditures

The number of employees is still growing, but the growth appears to be slowing down.

Employees

On 1. February 2020, the Faroese population was 52,199, which is 835 (1.6%) more than on 1 February 2019. This number consists of net migration (562) and an excess of births (273).

Population

The Faroe Islands have an activity rate of 85.4 percent, which is the highest in Europe. Out of almost 37,100 people aged 15-74, just under 31,700 make up the labour force.

Labour force

Faroese hotels registered 168,000 overnight stays in 2019, an increase of 16,500 (11%) on the previous year. This is the biggest increase since records began seven years ago. With 30% of all overnight stays, Danish residents featured most prominently in this statistic.

Tourism

Last year’s total figures for exports of goods hit an all-time high of DKK 9.5 billion, which is a 19% increase on 2018.

Exports of goods

In 2019, Faroese imports of goods exceeded DKK 8 billion for the first time. The Faroe Islands imported goods worth more than DKK 8.1 billion in 2019, which is a 5% increase on 2018.

Imports of goods

Wage expenditures were close to DKK 890 million in October. This is DKK 75 million more than compared to October 2018. The trend show a steady rise in wage expenditures since 2014.

Wage expenditures