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
An Imaginary Trip to the Faroe Islands An Imaginary Trip to the Faroe Islands Carl Nielsen's rhapsody overture An Imaginary Trip to the Faroe Islands ("En Fantasirejse til Færøerne"), is a musical composition for orchestra. The Royal Danish Theatre in Copenhagen commissioned the piece for a gala concert celebrating a visit from the Faroe Islands. The composer conducted the premiere on 27 November 1927. In a letter to his wife dated 4 January 1927, Nielsen wrote: "Now over the next 8-10 days I have to write an overture to mark a big Faroese gala at the Royal Theatre supported by the State... I will use motifs from