Fishery is and has been for many decades the main industry in the Faroe Islands. Fishery products, including farmed salmon, represent more than 95% of the total Faroese goods export and around 20% of the Faroese GDP.
The Faroe Islands 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 as the Faroe Islands are developing into one of the world's large salmon producing countries.
Other export industries are tourism, woollen and other manufactured products.