Faroe Islands the economy remains vulnerable. One of the biggest private companies of the Faroe Islands is the salmon farming company Bakkafrost, which is the largest of the four salmon farming companies in the Faroe Islands and the eighth biggest in the world. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may provide a basis for sustained economic prosperity. 13% of the Faroe Islands' national income comes as economic aid from Denmark. This corresponds to roughly 5% of GDP. Since 2000, the government has fostered new information technology and business projects to attract new
History of the Faroe Islands History of the Faroe Islands The early details of the history of the Faroe Islands are unclear. It is possible that Brendan, an Irish monk, sailed past the islands during his North Atlantic voyage in the 6th century. He saw an 'Island of Sheep' and a 'Paradise of Birds,' which some say could be the Faroes with its dense bird population and sheep. This does suggest however that other sailors had got there before him, to bring the sheep. Norsemen settled the Faroe Islands in the 9th century or 10th century. The islands were officially converted to Christianity around the