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
Demographics of the Faroe Islands Demographics of the Faroe Islands This article is about the demographic features of the population of the Faroe Islands, including population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other aspects of the population. Recent DNA analysis have revealed that Y chromosomes, tracing male descent, are 87% Scandinavian. The studies show that mitochondrial DNA, tracing female descent, is 84% Scottish / Irish. Of the approximately 48,000 inhabitants of the Faroe Islands (16,921 private households (2004)), 98% are Danish realm citizens, meaning Faroese, Danish, or Greenlandic. By birthplace one can derive the following origins of the