Economy of the Faroe Islands Economy of the Faroe Islands The economy of the Faroe Islands was the 166th largest in the world in 2014, having a nominal gross domestic product (GDP) of $2.613 billion per annum. High dependence on fishing means the economy remains extremely vulnerable. The Faroese hope to broaden their economic base by building new fish-processing plants. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may lay the basis to sustained economic prosperity. Also important are the annual subsidy from Denmark, which amounts to about 3% of the GDP. The Faroes have one of
Faroe Islands national football team results Faroe Islands national football team results The Faroe Islands national football team represents the Faroe Islands in association football and is controlled by the Faroe Islands Football Association (FSF), the governing body of the sport in the country. It competes as a member of the Union of European Football Associations (UEFA), which encompasses the countries of Europe. Organised football has been played in the country since the 19th century; Tvøroyrar Bóltfelag was its first club, founded in 1892. Initially, clubs played friendlies to determine the winner of an unofficial championship, with matches being contested home and away, depending on the