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
Energy in the Faroe Islands Energy in the Faroe Islands Energy in the Faroe Islands is produced primarily from fossil fuels, with further contributions from hydro and wind power. Oil products are the main energy source, mainly consumed by fishing vessels and sea transport. Electricity is produced by oil, hydropower and wind farms, mainly by the SEV, which is owned by all the municipalities of the Faroe Islands. The Faroe Islands are not connected by power lines with continental Europe, and thus the archipelago cannot import or export electricity. Per capita annual consumption of primary energy in the Faroe Islands was 67 MWh in 2011,