Fisheries are the main industry in the Faroe Islands – and, indeed, have been for many decades. If the farming of salmon is included, fisheries make up 95% of Faroese exports and constitute 20% of GDP. In recent years, efforts have been made to diversify catches in order to maintain a sustainable fishing industry. The Faroes now rank as one of the world’s largest salmon producers.
Other key elements of the Faroese economy are
tourism and the production of woollen products.