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
University of the Faroe Islands University of the Faroe Islands The University of the Faroe Islands () is a state-run university located in Tórshavn, the capital of the Faroe Islands. It consists of two faculties: the Faculty of Humanities, Social Sciences and Education and the Faculty of Natural and Health Sciences. The university offers bachelor's, master's, and Ph.D.'s in both faculties. The student body is small, having almost 600 students. The university organizes an annual dissertation competition open to all students. The educational language of the university is Faroese, making it the only university in the world to conduct classes officially in that language. The