Occupation of the Falkland Islands control on 14 June 1982. The Falkland Islands () had been under British administration since January 1833, when the United Kingdom re-established sovereignty over the islands which, at that time, housed an Argentine settlement. Argentina has claimed the Falklands as part of its territory ever since. The UK first claimed South Georgia and the South Sandwich Islands in 1843, and incorporated them as Falkland Islands Dependencies in 1908. The Compañía Argentina de Pesca had an operation on South Georgia in the early 20th century, and Argentina had claimed sovereignty over South Georgia since 1927 and the South Sandwich Islands since
Economy of the Falkland Islands Economy of the Falkland Islands The economy of the Falkland Islands, which first involved sealing, whaling and provisioning ships, became heavily dependent on sheep farming from the 1870s to 1980. It then diversified and now has income from tourism, commercial fishing, and servicing the fishing industry as well as agriculture. The islands use the Falkland pound, which is backed by sterling. During the 19th century, the supply and maintenance depot for ships at Stanley developed into a port serving ships rounding Cape Horn. There was also trade in cow hides from the wild descendants of cattle introduced by French settlers