Economy of the Faroe Islands and holding below 3% since 2006, one of the lowest rates in Europe. Since 2000, new information technology and business projects have been fostered in the Faroe Islands to attract new investment. The result from these projects is not yet known but is hoped to bring a better market economy to the Faroe Islands. In 2014 the Faroe Islands had a trade surplus of 401 million DKK, a figure that rose to 1.43 billion DKK in 2016. As of 2016, the Faroe Islands mainly imported goods from Denmark (2,467 million DKK), Germany (877 million DKK), and Norway (610 DKK). The
Geology of the Faroe Islands erupted, plate tectonics has slowly moved the Faroe Islands away from the active volcanic region, which today is concentrated in Iceland and along the Mid-Atlantic Ridge. Meanwhile, the majority of the Faroe–Rockall Plateau has subsided beneath sea level while erosive forces–especially during the last few million years of alternating glacial and interglacial periods–have sculpted the landscape into their present-day shape. The overall thickness of volcanic and intervening rock layers of the Faroe Islands is more than , of which only is located above the present sea level. A deep well in Lopra, Suðuroy, has revealed details of the lower strata.