Falkland Islands (Islas Malvinas) Economic Statistics and Indicators

26, Jul 2021, EDT. Welcome to the Falkland Islands economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Falkland Islands (Islas Malvinas) (Islas Malvinas) › Change country
National or Regional Currency: Falklands Pound, FKP
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 2,840 (July 2012 est.)
Area: total: 12,173 sq km ; land: 12,173 sq km ; water: 0 sq km ; note: includes the two main islands of East and West Falkland and about 200 small islands
Natural Resources: fish, squid, wildlife, calcified seaweed, sphagnum moss
Capital: name: Stanley ; geographic coordinates: 51 42 S, 57 51 W ; time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time) ; daylight saving time: none scheduled for 2014

The economy was formerly based on agriculture, mainly sheep farming but fishing and tourism currently comprise the bulk of economic activity. In 1987, the government began selling fishing licenses to foreign trawlers operating within the Falkland Islands' exclusive fishing zone. These license fees net more than $40 million per year, which help support the island's health, education, and welfare system. The waters around the Falkland Islands are known for their squid, which account for around 75% of the annual 200,000 ton fish catch. Dairy farming supports domestic consumption; crops furnish winter fodder. Foreign exchange earnings come from shipments of high-grade wool to the UK and from the sale of postage stamps and coins. In 2001, the government purchased 100 reindeer with the intent to increase the number to 10,000 over the following 20 years so that venison could be exported to Scandinavia and Chile. Tourism, especially eco-tourism, is increasing rapidly, with about 69,000 visitors in 2009. The British military presence also provides a sizeable economic boost. The islands are now self-financing except for defense. In 1993 the British Geological Survey announced a 200-mile oil exploration zone around the islands, and early seismic surveys suggest substantial reserves capable of producing 500,000 barrels per day. Political tensions between the UK and Argentina remain high following the start of oil drilling activities in the waters. In September 2011, a British exploration firm announced that it plans to commence oil production in 2016.

Economic Indicators for Falkland Islands 2015

Not Available
* Source: IMF
Aggregate Indicators for Falkland Islands
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Falkland Islands
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Falkland Islands
  Natural Resources, Agricultural Products, Land Use and Water Use for Falkland Islands
  Nationality, Ethnic Groups, Languages and Religions for Falkland Islands
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Falkland Islands
  Age Structure, Median Age, Gender and Urbanization for Falkland Islands
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Falkland Islands
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Falkland Islands
  HIV, AIDS and Other Major Infectious Disease Rates for Falkland Islands
  Literacy Rate, Educational Expenditure and School Life Expectancy for Falkland Islands
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Falkland Islands
  Industries and Industrial Growth Production Rate for Falkland Islands
  Labor Force by Occupation for Falkland Islands
  Poverty Line, Gini Index, Household Income and Consumption for Falkland Islands
  National Budget and Public Debt for Falkland Islands
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Falkland Islands
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Falkland Islands
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Falkland Islands
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Falkland Islands
  Foreign Exchange Reserves and Gold Reserves for Falkland Islands
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Falkland Islands
  Exchange Rate Statistics for Falkland Islands
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Falkland Islands
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Falkland Islands
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Falkland Islands
  Television and Radio Statistics (TV Stats, Radio Stats) for Falkland Islands
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Falkland Islands
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Falkland Islands
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Falkland Islands
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Falkland Islands
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Falkland Islands
* Source: CIA
Internet Indicators for Falkland Islands
  Number of Internet Users for Falkland Islands
  Internet Penetration Rate for Falkland Islands
  Number of Facebook Accounts for Falkland Islands
  Facebook Penetration Rate for Falkland Islands
* Source: IWS