List of Faroese companies | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-06

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/List_of_companies_of_the_Faroe_Islands


00:01:13 Notable firms
00:01:40 See also



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SUMMARY
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The Faroe Islands are an archipelago between the Norwegian Sea and the North Atlantic approximately halfway between Norway and Iceland, 320 kilometres (200 miles) north-northwest of mainland Scotland. The islands are an autonomous country of the Kingdom of Denmark.Economic troubles caused by a collapse of the Faroese fishing industry in the early 1990s brought high unemployment rates of 10 to 15% by the mid-1990s. Unemployment decreased in the later 1990s, down to about 6% at the end of 1998. By June 2008 unemployment had declined to 1.1%, before rising to 3.4% in early 2009. In December 2014 the unemployment was 3.2%. Nevertheless, the almost total dependence on fishing and fish farming means that the economy remains vulnerable. One of the biggest private companies of the Faroe Islands is the salmon-farming company Bakkafrost, which is the largest of the four salmon-farming companies in the Faroe Islands and the eighth-biggest in the world.