List of companies of the Faroe Islands
The Faroe Islands are an archipelago between the Norwegian Sea and the North Atlantic approximately halfway between Norway and Iceland, north-northwest of mainland Scotland. The islands are an autonomous territory within 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.