Business and Industry in the Faroes

Fishery is and has been for many decades the main industry in the Faroes. Fishery products, including farmed salmon, represent more than 95% of total Faroese exports and nearly a half of the Faroese GDP.

The Faroe business environment has quite naturally been highly influenced by fishing and fish processing.

The Faroese economy has for the last decades worked towards developing a more diversified and competitive business community. This is well on its way to succeed, when it comes to aquaculture, since the Faroe Islands is growing into becoming one of the world large salmon producing countries.