Faroe Islands islands, along with two other Norwegian island possessions: Greenland and Iceland. The Faroe Islands have been a self-governing country within the Kingdom of Denmark since 1948. The Faroese have control of most of their domestic affairs. Those that are the responsibility of Denmark include military defence, policing and the justice department, currency, and foreign affairs. However, as they are not part of the same customs area as Denmark, the Faroe Islands have an independent trade policy and can establish trade agreements with other states. The islands also have representation in the Nordic Council as members of the Danish delegation. The
Economy of the Faroe Islands other areas, and thus operate in island condition. Some islands are also not connected to the other islands, and must maintain their own electric system. Agriculture - products: milk, potatoes, vegetables; sheep; salmon, other fish Currency: 1 Danish krone (DKr) = 100 ører Exchange rates: Danish kroner (DKr) per US$1 – 5.560 (2008), 7.336 (January 2000), 6.976 (1999), 6.701 (1998), 6.604 (1997), 5.799 (1996), 5.602 (1995) 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