[73] All politicians in the Falkland Islands are independent; no political parties exist on the islands. [65], Based on Lord Shackleton's recommendations, the Falklands diversified from a sheep-based monoculture into an economy of tourism and, with the establishment of the Falklands exclusive economic zone, fisheries. No claims are made regarding the accuracy of Falkland Islands Economy 1991 information contained here. )country comparison to the world (CIA rank, may be based on non-current data):
[144] In the 2012 census, a majority of residents listed their nationality as Falkland Islander (59 per cent), followed by British (29 per cent), Saint Helenian (9.8 per cent), and Chilean (5.4 per cent). Traditionally a coaling and whaling harbor, the Falkland Islands undertook an economic development program for exploiting oil . [138], The Falkland Islands population is homogeneous, mostly descended from Scottish and Welsh immigrants who settled in the territory after 1833. The earliest economic activity on the islands, from 1770 onwards, was whaling and sealing. The islands' government has no debt. [63][J] Demining operations recommenced in 2009 and were completed in October 2020. In more recent years fishing, oil exploration and tourism have played a leading part in the economy of the islands. )exports: 0 cubic meters (2021 est. [120] Based on 2010 data, the islands have a high Human Development Index of 0.874[4] and a moderate Gini coefficient for income inequality of 34.17. Tourism, especially ecotourism, is increasing rapidly, with about 69,000 visitors in 2009 and adds approximately $5.5 million to the Falklands annual GDP. NA
)geothermal: 0% of total installed capacity (2020 est. According to the Falklands Government Statistics there are over 500,000 sheep on the islands with roughly 60% on East Falkland and 40% on West Falkland. ), mollusks, fish, wool, sheep/goat meats, engine parts (2019), United Kingdom 79%, Netherlands 16% (2019), refined petroleum, spark-ignition engines, stone processing machinery, construction vehicles, cars (2019), Falkland pounds (FKP) per US dollar -0.7836 (2017 est. [110] Rainfall is common over half of the year, averaging 610mm (24in) in Stanley, and sporadic light snowfall occurs nearly all year. To achieve this, the Corporation identified agricultural improvements, tourism, self-sufficiency in energy, development of the industrial and service sector, fisheries, and land subdivision as areas to tackle. $70,800
The FOCZ includes part of the Burdwood Bank, borders on the confines of the continental shelf and includes part of the Falklands Escarpment - a 2,000-metre (6,600ft) undersea escarpment running eastwest. However, in 2007 Argentina unilaterally withdrew from the agreement; Falklands Oil and Gas Limited then signed an agreement with BHP Billiton to investigate the potential exploitation of oil reserves. [see also: GDP - composition, by sector of origin - agriculture country ranks ]
186
[150][145] The main Christian denominations are Anglicanism and other Protestantism, and Roman Catholicism. The Falklands Islands war is seen by many in international relations as an anomaly that is unlikely to happen again. The Falkland Islands (/f(l)klnd, flk-/;[5] Spanish: Islas Malvinas [izlaz malinas]) is an archipelago in the South Atlantic Ocean on the Patagonian Shelf. A summary of the prices for the period 2002 to 2010, which are often dictated by Australian exchange rate and weather conditions[19] is shown below:[20], Although the production of wool is spread across the islands, the breeding of animals for slaughter is concentrated on East Falkland where the EU accredited Send Bay abattoir is situated. Economy of the Falkland Islands; Currency: Falkland pound; Fixed exchange rates. Overall, the Falkland Islands economy has largely recovered from the hiatus of 12 months ago, with some obvious exceptions, namely the continued suspension of land and sea-based international tourism. An update of the first appraisal drill was released on Monday 21 March 2011 indicating a significant reservoir package with a downhole mini Drill Stern Test flowing oil at better rates then the September 2010 flow test: confidence in the commerciality of the Sea Lion discovery has been increased by this first appraisal. [112], The economy of the Falkland Islands is ranked the 222nd largest out of 229 in the world by GDP (PPP), but ranks 5th worldwide by GDP (PPP) per capita. This zone was later to become the Falklands Inner Conservation Zone (FICZ). In more recent years fishing, oil exploration and tourism have played a leading part in the economy of the islands. In May 2010 the first commercial oil discovery was made, signaling the potential for the development of a long term hydrocarbon industry in the Falkland Islands. [51] In 2013 passengers from cruise ships faced protests in Latin American ports over the British military presence. West Falkland was left abandoned, and Puerto Soledad became mostly a prison camp. The economy was formerly based on agriculture, mainly sheep farming, but fishing and tourism currently comprise the bulk of economic activity. Falkland Islands, also called Malvinas Islands or Spanish Islas Malvinas, internally self-governing overseas territory of the United Kingdom in the South Atlantic Ocean. Was categorised as "others" until the end of 2005. [128] During the 1980s, although ranch under-investment and the use of synthetic fibres damaged the sheep-farming sector, the government secured a major revenue stream by the establishment of an exclusive economic zone and the sale of fishing licences to "anybody wishing to fish within this zone". (2014 est.) Please ADD this page to your FAVORITES - - - - - Although there is still a resentment in the Islands to the Argentine occupation, the Falkland Islands Government continues "to respect the need for Argentine veterans of the 1982 conflict and their next of kin to visit the battlefield sites and the cemetery at Darwin". Answer (1 of 2): Benefits: 1. [see also: Industrial production growth rate country ranks ], Labor force: 1,850
More than 75% of the annual catch of 200,000 tonnes (220,000 short tons) is squid. In May 2010 the first commercial oil discovery was made, signaling the potential for the development of a long term hydrocarbon industry in the Falkland Islands. Economic summary: GDP/PPP (2007 est. It lies about 300 miles (480 km) northeast of the southern tip of South America and a similar distance east of the Strait of Magellan. Argentina considers that, in 1833, the UK established an "illegal occupation" of the Falklands after expelling Argentine authorities and settlers from the islands with a threat of "greater force" and, afterwards, barring Argentines from resettling the islands. 1 Falkland pound = 100 pence; Fiscal year.
)country comparison to the world (CIA rank, may be based on non-current data):
), Christian 57.1%, other 1.6%, none 35.4%, unspecified 6% (2016 est. Economy of the Falkland Islands The economy of the Falkland Islands, which first involved sealing, whaling and provisioning ships, became heavily dependent on sheep farming from the 1870s to 1980. [49] Aside from this trade, commercial interest in the archipelago was minimal due to the low-value hides of the feral cattle roaming the pastures. Exports The top exports of Falkland Islands are Molluscs ($241M), Planes, Helicopters, . [52] In 1881, the Falkland Islands became financially independent of Britain. In many cases the set-up and production costs are carried by the mint concerned, who pay the FIG a royalty on coins that it sells to collectors. It then returns to its spawning grounds via a route that lies off the continental shelf. The remaining 2 per cent identified as adherents of other religions, including the Bah Faith,[148] Buddhism,[149] and Islam. In 1976, Lord Shackleton produced a report into the economic future of the islands; but his recommendations were not implemented because Britain sought to avoid confronting Argentina over sovereignty. [3] Attractions include the scenery and wildlife conservation including 1,000,000 penguins,[16] seabirds, seals, and sea lions, as well as visits to battlefields, golf, fishing and wreck diving. [143] In recent years, the islands' population decline has reduced, thanks to immigrants from the United Kingdom, Saint Helena, and Chile. [23] The number of farms supplying lambs increased from 6 in 2003 to 27 in 2007 while the number of lambs sent to the abattoir rose from 2600 to 11,963 in the same period.[24]. [110] Strong westerly winds and cloudy skies are common. Ecotourism is a rapidly growing industry currently and has become a forefront contributor to the economy. )from coal and metallurgical coke: 0 metric tonnes of CO2 (2019 est. [21] An additional cost borne by producers on West Falklands is the fare charged for crossing the Falklands Sound. As a British overseas territory, the Falklands have internal self-governance, but the United Kingdom takes responsibility for their defence and foreign affairs. Endemic land animals have been the most affected by introduced species, and several bird species have been extirpated from the larger islands. )services: 38.4% (2015 est. [80] The islands' judicial system, overseen by the Foreign and Commonwealth Office, is largely based on English law,[81] and the constitution binds the territory to the principles of the European Convention on Human Rights. (2017 est.) Students aged 16 or older may study at colleges in England for their GCE Advanced Level or vocational qualifications. [146], The Falkland Islands have a low population density. [71] Each year thereafter the production date has been pushed back another year. The Falkland Islands use the Falkland pound, which is backed by the British pound. miles) ): Real growth rate: n.a. These license fees net more than $40 million per year, which help support the island's health, education, and welfare system. [citation needed], The Falkland Islands have a GDP of $164.5million, and a per capita GDP of $70,800 (2015 estimate) compared with the United Kingdom GDP per capita of $35,200 (2009 estimate). For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order. (2013 est.). 12
)country comparison to the world (CIA rank, may be based on non-current data):
The Falkland Islands economy has performed well in recent years. )wind: 33.3% of total installed capacity (2020 est. [43], The South Atlantic Fisheries Commission (SAFC) was set up in 1990 between the Argentine and the United Kingdom (acting on behalf of the Falkland Islands) to exchange information and to coordinate fishing activities in the South Atlantic. Tourism has grown rapidly. )biomass and waste: 0% of total installed capacity (2020 est.
[123] Development projects in education and sports have been funded by the Falklands government, without aid from the United Kingdom. The Falkland Islands are a Tier I nation located in the South Atlantic Ocean off the tip of Argentina. [152], Falklands culture is based on the cultural traditions of its British settlers but has also been influenced by Hispanic South America. [see also: Household income or consumption by percentage share - lowest 10% country ranks ]
An agreement signed in 1995 with Argentina had set the terms for exploitation of offshore resources including large oil reserves[56] as it was thought that there might be up to 60 billion barrels (9.5km3) of oil under the sea bed surrounding the islands. Both claimed in 1908; territories formed in 1962 (British Antarctic Territory) and 1985 (South Georgia and the South Sandwich Islands). (FY09/10)
In October 1877, the Secretary of State of the Colonial Office, the Earl of Carnarvon began the process of application for the Falkland Islands to join the General Postal Union (renamed Universal Postal Union in 1879). [48], Simmering tensions between the UK and Argentina increased during the second half of the century, when Argentine President Juan Pern asserted sovereignty over the archipelago. )imports: 0 cubic meters (2021 est. From the mid ninteenth century onwards, sheep farming played an important part in the island's economy. Apart from the Falkland Trough, this zone lies within the continental shelf. The two major islands, West and East Falkland, are separated by Falkland Sound. Four sedimentary basins that could potentially contain hydrocarbons have been identified in the Falkland Island waters. )industry: 20.6% (2015 est. [134] Stanley (with 2,121 residents) is the most-populous location on the archipelago, followed by Mount Pleasant (369 residents, primarily air-base contractors) and Camp (351 residents). Visit the Definitions and Notes page to view a description of each topic. )country comparison to the world (CIA rank, may be based on non-current data):
)permanent pasture: 92.4% (2018 est. Farmland accounts for a little over 80% of the Falklands land area[15] and a sheep appears on the islands' coat of arms, but agriculture is now less than 2% of the economy. 0.6542
[44] Vernet's deputy, the Scotsman Matthew Brisbane, returned to the islands that year to restore the business, but his efforts ended after, amid unrest at Port Louis, gaucho Antonio Rivero led a group of dissatisfied individuals to murder Brisbane and the settlement's senior leaders; survivors hid in a cave on a nearby island until the British returned and restored order. [34] Buenos Aires named Vernet military and civil commander of the islands in 1829,[35] and he attempted to regulate sealing to stop the activities of foreign whalers and sealers. )country comparison to the world (CIA rank, may be based on non-current data):
[53], Other sources of "tourist" revenue include spending by the British military personnel based on the islands, by business travellers and by pilgrims to the graves of both British and Argentine soldiers who fell in the 1982 Falklands War. [105], The Falklands' approximate location is latitude 5140 5300 S and longitude 5740 6200 W.[106] The archipelago's two main islands are separated by the Falkland Sound,[107] and its deep coastal indentations form natural harbours. In parallel, there are on-going investigations into other forms of renewable energy for remote locations on the islands.[80]. The company now operates several retail outlets in Stanley and is involved in port services and shipping operations.
The Falkland Islands, a long standing source of historical tensions between Argentina and the international community, are once again poised to be the centre of disputes, owing to Argentina's growing economic troubles. [140], In the 2012 census, most islanders identified themselves as Christian (66 per cent), followed by those with no religious affiliation (32 per cent). Coordinates: .mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}5144S 5913W / 51.73S 59.22W / -51.73; -59.22. (2014 est. The Bell UH-1 Iroquois (nicknamed the "Huey") is a utility military helicopter designed and produced by the American aerospace company Bell Helicopter. The War of the Falkland Islands began with a successful invasion by Argentine forces on April 2, 1982, and ended with their surrender to British forces ten weeks later. [30][D] Since the islands had no permanent inhabitants, in 1823 Buenos Aires granted German-born merchant Luis Vernet permission to conduct fishing activities and exploit feral cattle in the archipelago. $206.4 million (2015 est. [8] Desire Petroleum and Rockhopper Exploration began drilling for oil in the vicinity of the Falklands in the first half of 2010, sparking strong protest from the Argentine government. Before leaving for the Falklands Vernet stamped his grant at the British Consulate, repeating this when Buenos Aires extended his grant in 1828. The Falkland Islands (/ f (l) k l n d, f l k-/; Spanish: Islas Malvinas [izlaz malinas]) is an archipelago in the South Atlantic Ocean on the Patagonian Shelf.The principal islands are about 300 mi (480 km) east of South America's southern Patagonian coast and about 752 mi (1,210 km) from Cape Dubouzet at the northern tip of the Antarctic Peninsula, at a latitude of . ), a very small population, with most residents living in and around Stanley, deeply indented coast provides good natural harbors; short growing season, 3,198 (2016 est. The first stamps, 1d, 6d, and 1 shilling values featuring the usual profile of Queen Victoria, were issued 19 June 1878. [68] The proposal envisages a FPSO vessel located 200km offshore servicing 24 production wells and 12 water injection wells in about 450m of water. Since then the islands have issued their own stamps, which are a source of revenue from overseas collectors. $0
[see also: GDP - real growth rate country ranks ], GDP - per capita:
Due to the difficult climatic conditions of the southern seas exploitation will be difficult, though economically viable; the continuing sovereignty dispute with Argentina is also hampering progress. services: 38.4%
The Falklands governed these territories as the Falkland Islands Dependencies starting in 1908, and retained them until their dissolution in 1985. )crude oil estimated reserves: 0 barrels (2021 est. 66
[M] A 2012 report counted 1,300 uniformed personnel and 50 British Ministry of Defence civil servants present in the Falklands. [71] Under the 2009 Constitution, the islands have full internal self-government; the UK is responsible for foreign affairs, retaining the power "to protect UK interests and to ensure the overall good governance of the territory". $63,000
The land has a total area of 12,173 km (4,700 mi) and a total coastline of 1,288 km (800.3 mi). Introduction 'The oil in the Argentine continental shelf belongs to the 40 million Argentines', declared Daniel Filmus, the Argentine minister for Malvinas affairs in 2015, launching legal action against five small companies exploring for oil around the Falkland Islands (Telam, 2015).). The Falkland Islands government pays for older students to attend institutions of higher education, usually in the United Kingdom. The economy of the Falkland Islands, which first involved sealing, whaling and provisioning ships, became heavily dependent on sheep farming from the 1870s to 1980. [140][141] In 1983, full British citizenship was given to Falkland Islanders under the British Nationality (Falkland Islands) Act. )imports: 0 kWh (2020 est. It then diversified and now has income from tourism, commercial fishing, and servicing the fishing industry as well as agriculture. Coins and banknotes may only be issued by the Falkland Islands Government with the authorisation of the British Government. Falklandsinfo: Welcome to our Spectacular Islands! [66] In February 2011 Rockhopper Exploration commenced an appraisal programme of the Sea-Lion discovery. (2015)
[10] The term "Falklands" is a standard abbreviation used to refer to the islands. 79.6, improved: urban: 100% of populationrural: 78.2% of populationtotal: 95.3% of populationunimproved: urban: 0% of populationrural: 21.8% of populationtotal: 4.7% of population (2020), improved: urban: 100% of populationrural: 100% of populationtotal: 100% of populationunimproved: urban: 0% of populationrural: 0% of populationtotal: 0% of population (2020), overfishing by unlicensed vessels is a problem; reindeer - introduced to the islands in 2001 from South Georgia - are part of a farming effort to produce specialty meat and diversify the islands' economy; this is the only commercial reindeer herd in the world unaffected by the 1986 Chornobyl disaster; grazing threatens important habitats including tussac grass and its ecosystem with penguins and sea lions; soil erosion from fires, conventional long form: noneconventional short form: Falkland Islands (Islas Malvinas)etymology: the archipelago takes its name from the Falkland Sound, the strait separating the two main islands; the channel itself was named after the Viscount of FALKLAND, who sponsored an expedition to the islands in 1690; the Spanish name for the archipelago derives from the French "Iles Malouines," the name applied to the islands by French explorer Louis-Antoine de BOUGAINVILLE in 1764, parliamentary democracy (Legislative Assembly); self-governing overseas territory of the UK, overseas territory of the UK; also claimed by Argentina, name: Stanleygeographic coordinates: 51 42 S, 57 51 Wtime difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)etymology: named after Edward SMITH-STANLEY (1799-1869), the 14th Earl of Derby, a British statesman and three-time prime minister of the UK who never visited the islands, none (overseas territory of the UK; also claimed by Argentina), history: previous 1985; latest entered into force 1 January 2009 (The Falkland Islands Constitution Order 2008), chief of state: King CHARLES III (since 8 September 2022); represented by Governor Alison BLAKE (since 23 July 2022)head of government: Chief Executive Andy KEELING (since April 2021)cabinet: Executive Council elected by the Legislative Councilelections/appointments: the monarchy is hereditary; governor appointed by the monarch; chief executive appointed by the governor, description: unicameral Legislative Assembly, formerly the Legislative Council (10 seats; 5 members directly elected in the Stanley constituency and 3 members in the Camp constituency by simple majority vote, 2 appointed non-voting ex-officio members - the chief executive, appointed by the governor, and the financial secretary; members serve 4-year terms); note - several previous referendums - the latest in September 2020 - on whether to merge the Stanley and Camp constituencies into a single islands wide constituency, failedelections: last held on 4 November 2021 (next to be held in November 2025)election results: percent of vote - NA; seats - independent 8; composition of elected members -men 6, women 2, percent of women 25%, highest court(s): Court of Appeal (consists of the court president, the chief justice as an ex officio non-resident member, and 2 justices of appeal); Supreme Court (consists of the chief justice); note - appeals beyond the Court of Appeal are referred to the Judicial Committee of the Privy Council (in London)judge selection and term of office: chief justice, court of appeal president, and justices appointed by the governor; tenure specified in each justice's instrument of appointmentsubordinate courts: Magistrate's Court (senior magistrate presides over civil and criminal divisions); Court of Summary Jurisdiction, embassy: none (overseas territory of the UK; also claimed by Argentina), blue with the flag of the UK in the upper hoist-side quadrant and the Falkland Island coat of arms centered on the outer half of the flag; the coat of arms contains a white ram (sheep raising was once the major economic activity) above the sailing ship Desire (whose crew discovered the islands) with a scroll at the bottom bearing the motto DESIRE THE RIGHT, name: "Song of the Falklands"lyrics/music: Christopher LANHAMnote: adopted 1930s; the song is the local unofficial anthem; as a territory of the United Kingdom, "God Save the King" is official (see United Kingdom).
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