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
Geography of the Faroe Islands experience less than this, as the weather station is located at 105 meters above sea level. Akraberg is milder than much of the Faroe Islands and experiences frost on 38 days in an average year, possibly less in lower areas, as the weather station is located at an elevation of 101 meters above sea level. Vágar has colder and snowier winters than most other places in the archipelago. Lower temperatures combined with higher precipitation are responsible for this, and measurable snow cover can be seen- a rarity in the Faroe Islands, in which snow cover (in areas which regularly experience