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
Religion in the Faroe Islands (0.19%), 12 Jews (0.03%), 13 Baha'i (0.04%), 3 Sikh (0.01%), 149 Others (0.43%), 85 with more than one belief (0.25%) and 1,397 with no religion (4.04%). The Catholic Church has nearly 150 adherents. There are also small groups of Seventh-day Adventists, Jehovah's Witnesses, Ahmadi Muslims and Bahá'ís in the country. Religion in the Faroe Islands Religion in the Faroe Islands consists largely of the Lutheran Church of the Faroe Islands, but also includes smaller Protestant groups such as the Open Brethren, as well as a few Catholics and adherents of non-Trinitarian religions, such as the Jehovah's Witnesses. The Church of