Support our Sponsor

. . Flags of the World Maps of All Countries

  • |Main Index|
  • 1991 INDEX
  • Country Ranks
  • Home PageCountry Index

    Falkland Islands Economy - 1991

      Overview: The economy is based on sheep farming, which directly or indirectly employs most of the work force. A few dairy herds are kept to meet domestic consumption of milk and milk products, and crops grown are primarily those for providing winter fodder. Exports feature shipments of high-grade wool to the UK and the sale of postage stamps and coins. Rich stocks of fish in the surrounding waters are not presently exploited by the islanders. So far efforts to establish a domestic fishing industry have been unsuccessful. In 1987 the government began selling fishing licenses to foreign trawlers operating within the Falklands exclusive fishing zone. These license fees amount to more than $40 million per year and are a primary source of income for the government. To encourage tourism, the Falkland Islands Development Corporation has built three lodges for visitors attracted by the abundant wildlife and trout fishing.

      GDP: $NA, per capita $NA; real growth rate NA%

      Inflation rate (consumer prices): 7.4% (1980-87 average)

      Unemployment rate: NA%; labor shortage

      Budget: revenues $62.7 million; expenditures $41.8 million, excluding capital expenditures of $NA (FY90)

      Exports: at least $14.7 million; commodities--wool, hides and skins, and other; partners--UK, Netherlands, Japan (1987 est.)

      Imports: at least $13.9 million; commodities--food, clothing, fuels, and machinery; partners--UK, Netherlands Antilles (Curacao), Japan (1987 est.)

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 9,200 kW capacity; 17 million kWh produced, 8,680 kWh per capita (1990)

      Industries: wool and fish processing

      Agriculture: predominantly sheep farming; small dairy herds; some fodder and vegetable crops

      Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $109 million

      Currency: Falkland pound (plural--pounds); 1 Falkland pound (5F) = 100 pence

      Exchange rates: Falkland pound (5F) per US$1--0.5171 (January 1991), 0.5603 (1990), 0.6099 (1989), 0.5614 (1988), 0.6102 (1987), 0.6817 (1986), 0.7714 (1985); note--the Falkland pound is at par with the British pound

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Falkland Islands on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Falkland Islands Economy 1991 information contained here. All suggestions for corrections of any errors about Falkland Islands Economy 1991 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -

    Revised 08-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)