Apart from the Falkland Trough, this zone lies within the continental shelf. Endemic land animals have been the most affected by introduced species, and several bird species have been extirpated from the larger islands. note: data represent population by national identity Languages English 89%, Spanish 7.7%, other 3.3% (2006 est.) A coastal freighter travels around the two main islands to deliver supplies and collect the wool clip for transshipment to the United Kingdom. [98][99] Argentina does not recognise the Falkland Islanders as a partner in negotiations. However land tourism is increasing which is offsetting the effect of a decrease in cruise tourism. The unemployment rate was 1% in 2016, and inflation was calculated at 1.4% in 2014. Argentina protested in 1841, 1849, 1884, 1888, 1908, 1927 and 1933, and has made annual protests to the United Nations since 1946.
[75], Governor Alison Blake was appointed in July 2022[76] and Chief Executive Andy Keeling was appointed in April 2021. The islands sheep stations (ranches) vary in size and may be owned by individual families or by companies based in Britain. )imports: 0 kWh (2020 est. [135] 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). [33] The catch for the 2010 season in the Falklands recovered to 12105tonnes, but still the fourth lowest since the beginning of the licensing system. [65] On 17 September 2010, Rockhopper Exploration published the results of the borehole analysis the well was drilled in water 451m deep and a flow test showed that a payable oil column of 53m was capable of producing over 2,000 barrels per day (320m3/d). [74] The Legislative Assembly, a unicameral legislature, consists of the chief executive, the director of finance and eight members (five from Stanley and three from Camp) elected to four-year terms by universal suffrage. There are a primary and a secondary school at Stanley and several smaller schools in rural areas. 19 million kWh (2016 est. )subscriptions per 100 inhabitants: 160 (2021 est. The small rivers occupy broad, peat-covered valleys. With a civilian population of around 3,400, the Islands' GDP stands at about 133 million. [66], 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. Southern South America, islands in the South Atlantic Ocean, about 500 km east of southern Argentina, total: 12,173 sq kmland: 12,173 sq kmwater: 0 sq kmnote: includes the two main islands of East and West Falkland and about 200 small islands, territorial sea: 12 nmcontinental shelf: 200 nmexclusive fishing zone: 200 nm, cold marine; strong westerly winds, cloudy, humid; rain occurs on more than half of days in year; average annual rainfall is 60 cm in Stanley; occasional snow all year, except in January and February, but typically does not accumulate, rocky, hilly, mountainous with some boggy, undulating plains, highest point: Mount Usborne 705 mlowest point: Atlantic Ocean 0 m, fish, squid, wildlife, calcified seaweed, sphagnum moss, agricultural land: 92.4% (2018 est. 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. The capital and major town is Stanley, on East Falkland; there are also several scattered small settlements as well as a Royal Air Force base that is located at Mount Pleasant, some 35 miles (56 km) southwest of Stanley. )proven reserves: 0 metric tons (2019 est. WebLatest Trends Historical Data Economic Complexity Overview In 2020 Falkland Islands was the number 169 economy in the world in terms of total exports and the number 208 in total imports. [28] It joins the saltier warm Brazil Current in the vicinity of the mouth of the Ro de la Plata to form the South Atlantic Current.[29][30][31]. [43][H] The British troops departed after completing their mission, leaving the area without formal government. The population (3,662 inhabitants in 2021)[1] is primarily native-born Falkland Islanders, the majority of British descent. [127], Economic development was advanced by ship resupplying and sheep farming for high-quality wool. The principal islands are about 300mi (480km) east of South America's southern Patagonian coast and about 752mi (1,210km) from Cape Dubouzet at the northern tip of the Antarctic Peninsula, at a latitude of about 52S. The name "Falkland Islands" comes from Falkland Sound, the strait that separates the two main islands. It then returns to its spawning grounds via a route that lies off the continental shelf. [20][21][B] The first undisputed landing on the islands is attributed to English captain John Strong, who, en route to Peru and Chile's littoral in 1690, explored the Falkland Sound and noted the islands' water and game. )exports: 0 kWh (2020 est. In South America the islands are generally known as Islas Malvinas, because early French settlers had named them Malouines, or Malovines, in 1764, after their home port of Saint-Malo, France. [13], In 1965, at the 20th session[14] of the United Nations General Assembly, the Fourth Committee determined that, in all languages other than Spanish, all UN documentation would designate the territory as Falkland Islands (Malvinas). Religions Christian 57.1%, other 1.6%, none 35.4%, unspecified 6% (2016 est.) [153], Falklands culture is based on the cultural traditions of its British settlers but has also been influenced by Hispanic South America. [110], The climate of the islands is cold, windy, and humid maritime. )subscriptions per 100 inhabitants: 33 (2020 est. airoh commander visor removal. The remaining 2 per cent identified as adherents of other religions, including the Bah Faith,[149] Buddhism,[150] and Islam. As of 2010, the ferry company making the crossing charged commercial vehicles 30 per metre for a single trip plus 2 per head of sheep.
[48] For more than a century, the Falkland Islands Company dominated the trade and employment of the archipelago; in addition, it owned most housing in Stanley, which greatly benefited from the wool trade with the UK. In 1982, an average of only 500 tourists visited the Falklands per annum but by 2007, this figure had grown to 55,000[48] and the Falkland Islands Tourist Board[49] hired its first tourism director that year. [70] Oil will be transferred from the FPSO vessel to shuttle oil tankers. )biomass and waste: 0% of total installed capacity (2020 est. [156] Social activities are, according to Wagstaff, "typical of that of a small British town with a variety of clubs and organisations covering many aspects of community life". Controversy exists over the Falklands' discovery and subsequent colonisation by Europeans. [30], Thereafter the archipelago was visited only by fishing ships; its political status was undisputed until 1820, when Colonel David Jewett, an American privateer working for the United Provinces of the Ro de la Plata, informed anchored ships about Buenos Aires' 1816 claim to Spain's territories in the South Atlantic. [121], The port settlement of Stanley has regained the islands' economic focus, with an increase in population as workers migrate from Camp. [C] Whether or not the settlements were aware of each other's existence is debated by historians. [91][100][101], The Falkland Islands have a land area of 4,700sqmi (12,000km2) and a coastline estimated at 800mi (1,300km). Language links are at the top of the page across from the title. [52] The high cost of importing materials, combined with the shortage of labour and consequent high wages, meant the ship repair trade became uncompetitive. As the blueprint for the future development of the Falkland Islands, this means there are a number of capital commitments included within the Budget for 2021/22. As discussed by Roberto Laver, not only did Rosas not break relations with Britain because of the "essential" nature of "British economic support", but he offered the Falklands "as a bargaining chip in exchange for the cancellation of Argentina's million-pound debt with the British bank of. [68] The proposal envisages a FPSO vessel located 200km offshore servicing 24 production wells and 12 water injection wells in about 450m of water. )industry: 20.6% (2015 est. Falklands' GDP in 2018 reached 254.7 million with a real growth rate of 3,9% MercoPress Falklands' GDP in 2018 reached 254.7 million with a real growth rate of 3,9% Saturday, February 6th 2021 - 07:15 UTC Full article In 2018 fishing remained as the largest economic activity in the Falkland Islands, accounting for 64% of nominal GDP 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. Argentina invaded the islands on 2 April 1982. [7] The Viscount's title originates from the town of Falkland, Scotlandthe town's name probably comes from a Gaelic term referring to an "enclosure" (lann),[A] but it could less plausibly be from the Anglo-Saxon term "folkland" (land held by folk-right). Each class of licence has its own characteristics species or combination of species that may be taken, net sizes that may be used and seasons when the licence is valid. Squid are abundant in the waters surrounding the islands, but overfishing became an issue in the 1990s, and measures were taken to correct the problem. [128] The main sheep breeds in the Falkland Islands are Polwarth and Corriedale. British administration was restored two months later at the end of the Falklands War. Y licence Permits the taking of unrestricted fin fish during the second season (The Southern blue whitting and the Hoki in particular are classed as restricted finship). A further industry that may well strengthen the economic position of the Falklands is hydrocarbons, and in her article, Grace Livingstone considers how important a role oil has played in British policy towards the Islands and in the Falklands itself. [59], Concerned at the expense of maintaining the Falkland Islands in an era of budget cuts, the UK again considered transferring sovereignty to Argentina in the early Thatcher government. [106] Variability of daily weather is typical throughout the archipelago. [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]. Such visits are arranged in conjunction with LAN Airlines (Chile) who, on such occasions, use larger aircraft than normal for the weekly flights.[54]. The wells will be arranged in clusters of 6 wells per drill centre. The islands British heritage is apparent in Stanley, where pubs, bright red mailboxes, and well-kept gardens are numerous. [146] A small number of Argentines also live on the islands. [75][76][77], As of 2011 the East and South Falklands Fields had not been fully evaluated; Leiv Eiriksson, a 5th generation semi-submersible drilling rig, is expected to drill two exploratory wells for Falkland oil and gas in 2012. 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. 
Several hundred thousand sheep are kept on the islands, producing several thousand tons of wool annually as well as some mutton. )consumption: 19.133 million kWh (2019 est. Consistently high west winds average 19 miles (31 km) per hour, while the mean annual average temperature is about 42 F (5 C), with an average maximum of 49 F (9 C) and an average minimum of 37 F (3 C). 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. )-1.8% (2014 est. [30] Amid the British invasions of the Ro de la Plata during the Napoleonic Wars in Europe, the islands' governor evacuated the archipelago in 1806; Spain's remaining colonial garrison followed suit in 1811, except for gauchos and fishermen who remained voluntarily. ", "Argentina snubs UK over oil deal as anniversary nears", "Britain and Argentina Reach an Accord on Falkland Oil Rights", "Falklands oil prospects stir Anglo-Argentinian tensions", "Preliminary GDP Estimates, 20082009 and 2010 Forecast (Constant Prices)", "The Falkland Islands Constitution Order 2008", "Wanted: holiday rep to sell joys of Falklands tourism", "Agriculture in the Falkland Islands [pamphlet]", "The Falkland Islands Government - Agriculture", "Patagonian Shelf large marine ecosystem", "Goce gravity mission traces ocean circulation", "Fisheries Department Fisheries Statistics, Volume 14, 2009", "The Offshore Fishery; balancing commercial activities & conservation", "Illex 2010: the case for improved conservation", "Regional Reviews: B17 - Southern Oceans", "Large-scale commercial marine harvesting", "Fisheries Department Fisheries Statistics, Volume 11, 2006", "Text of the convention on the conservation of Antarctic marine living resources", "Claims and potential claims to maritime jurisdiction in the South Atlantic and Southern Oceans by Argentina and the UK", "Falkland Focus - News from the Falkland Island Government", "Tourism is an important source of revenue to the Falkland Islands", "Falklands tourism ready for brighter future after challenging year", "Four Seasons and more than 3,000 Tourists in One Day", "Record of The Budget Meeting of the Legislative Assembly held in Stanley on 26th and 28th May 2009", "Falklands oil prospects stir Anglo-Argentinean tensions", "BHP Billiton strikes $100m Falklands drilling deal", "Argentina protests at Falklands oil stake", "Drilling for oil begins off the Falkland Islands", "Explorers fail to strike oil in test sites off Falklands", "Falklands oil firm Rockhopper claims discovery", "Discovery in disputed waters puts Argentina back on the defensive", "Capital Markets Presentation Development", "First Falklands Islands oil production delayed to 2018", http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12367637.html, http://www.rigzone.com/news/oil_gas/a/138815/Oil_Discovered_at_Isobel_Deep, http://subseaworldnews.com/2015/05/12/fogl-isobel-deep-bop-fixed/, "Falkland Oil and Gas 2012 drilling programme", "Falkland Islands Three new Enercon turbines operating Staff", "Commemorative Coin Lifetime of Service", Falkland Islands Development Corporation - Annual Report 1984, Four Seasons and more than 3,000 Tourists in One Day. The outbreak of conflict These days, the island chain has a stable economy and population and is keen to assert its independence free of unwanted Argentine influence. WebEconomy - overview: The economy was formerly based on agriculture, mainly sheep farming, but fishing and tourism currently comprise the bulk of economic activity. Status: 03/23/2023 1 US dollar = 0.81 Pounds 1 Pound = 1.23 US dollar The climate on the Falkland Islands ), total subscriptions: 2,000 (2021 est. [40], With the establishment of the FICZ, the Falklands Fisheries Department issued licences that enable foreign vessels to fish in Falklands waters. In the early 1990s, seismic studies suggested the presence of offshore oil reserves, and licenses were granted to foreign companies for exploration. 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. The 2016 census indicated that 43% of residents were born on the archipelago, with foreign-born residents assimilated into local culture.
)note: data represent population by national identity, English 89%, Spanish 7.7%, other 3.3% (2006 est. Religions Christian 57.1%, other 1.6%, none 35.4%, unspecified 6% (2016 est.) By the Falklands War of 1982 sheep farming was the islands' only industry[3] and their economic viability was in doubt, but after the war there was a new commitment from the Government of the United Kingdom. The government began selling fishing licenses to foreigners in 1987, and the revenue generated from such sales became a major contributor to the economy. Falkland Islander 48.3%, British 23.1%, St. Helenian 7.5%, Chilean 4.6%, mixed 6%, other 8.5%, unspecified 2% (2016 est.) In a 2013 sovereignty referendum almost all Falklanders voted in favour of remaining a UK overseas territory. In response to renewed calls from Argentina for Britain to relinquish control of the islands, a referendum was held in March 2013, which resulted in 99.8% of the population voting to remain a part of the UK. [118], The islands are frequented by marine mammals, such as the southern elephant seal and the South American fur seal, and various types of cetaceans; offshore islands house the rare striated caracara. [11] Bougainville, who founded the islands' first settlement, named the area after the port of Saint-Malo (the point of departure for his ships and colonists). (2012, excluding British military personnel stationed on the islands) 2,563. The islands social welfare system is adequate, and primary education is free. A long-running dispute between Argentina and the UK Shutterstock [151][146] The main Christian denominations are Anglicanism and other Protestantism, and Roman Catholicism. WebThe government has today published a new report State of the Falkland Islands Economy 2020. There were continual tensions with the colonial administration over Lafone's failure to establish any permanent settlers, and over the price of beef supplied to the settlement. The voting age is 18. Language links are at the top of the page across from the title. The report was approved by ExCo earlier today and provides an overview of the economy up until the end of 2020. 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. [35] Buenos Aires named Vernet military and civil commander of the islands in 1829,[36] and he attempted to regulate sealing to stop the activities of foreign whalers and sealers. The islands are located in the South Atlantic Ocean, on the Patagonian Shelf, about 300mi (480km) east of Patagonia in southern Argentina. [71] Each year thereafter the production date has been pushed back another year. This is the truth about the Falkland Islands and who owns them today. [72], The production site will require approximately 110 people working offshore and another 40 working onshore. The Illex squid (Illex argentinus) which typically has a mantle length of 20 to 28 centimetres (8 to 11in) and a weight of 150 to 500 grams (5 to 18oz) is the most important fish to the Falklands economy followed by its smaller cousin, the Patagonian squid (Doryteuthis gahi) which typically has a mantle length of 10 to 15 centimetres (4 to 6in) and a weight of 75 to 150 grams (3 to 5oz). By 2002 the Falklands' economy was booming, with income from tourism and the sale of squid fishing licences as well as from indigenous fishing companies with locally registered boats. ), fodder and vegetable crops; venison, sheep, dairy products; fish, squid, agriculture: 41%industry: 24.5%services: 34.5% (2015 est. [51] In 2013 passengers from cruise ships faced protests in Latin American ports over the British military presence. [115] The Falklands' flora consists of 163 native vascular species. [17] Get a Britannica Premium subscription and gain access to exclusive content. Where livestock grazing has been controlled, coastal tussock grass (Parodiochloa flabellata) still covers offshore islands. There is a ferry link between East and West Falkland. In the late 20th century the government instituted policies to encourage an increase in the number of smaller, locally operated farms rather than corporate-owned farms. airoh commander visor removal. [39] This resulted in a ban on fishing which was lifted in 2005. Stanley Harbour is the islands main port; it has a commercial wharf and receives cruise ships. Major economic activities include fishing, tourism and sheep farming, with an emphasis on high-quality wool exports. [16], Although Fuegians from Patagonia may have visited the Falkland Islands in prehistoric times,[17][18] the islands were uninhabited when Europeans first explored them. ), 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. [10] As of 2007[update], 670,000 sheep resided on the islands;[16] a 2011 report estimated the sheep population at over one million. [131] All large settlements are now connected by road and, since 2008, a ferry links West and East Falkland. The capital and largest settlement is Stanley on East Falkland. https://www.britannica.com/place/Falkland-Islands, Official Tourism Site of The Falkland Islands, CRW Flags - Flag of Falkland Islands, United Kingdom, Central Intelligence Agency - The World Factbook - Falkland Islands (Islas Malvinas), Falkland Islands - Children's Encyclopedia (Ages 8-11), Falkland Islands - Student Encyclopedia (Ages 11 and up). [144] In recent years, the islands' population decline has reduced, thanks to immigrants from the United Kingdom, Saint Helena, and Chile. This has been attributed to the lower than usual sea temperatures during the feeding season in FebruaryMay.[35]. 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), British South American territorial economy; longstanding fishing industry; surging tourism prior to COVID-19 and Brexit; recent offshore hydrocarbon discoveries threaten ecotourism industries; no central bank and must have British approval on currency shifts, $206.4 million (2015 est.
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Several bird species have been the most affected by introduced species, humid! Primary education is free vocational qualifications FKP ): 33 ( 2020 est. remaining a UK overseas territory,. 5.4 million in 2010 claim to all of the Falkland Island waters 2023, at.... /P > < p > Apart from the larger islands of around 3,400, islands... Settlement is Stanley on East Falkland, and the islands sheep stations ranches... Claim to all of the islands government is headed by a governor by! Page was last edited on 27 February 2023, at 14:17 ) crude oil and lease condensate imports: bbl/day. Of residents were born on the islands ) 2,563 indications of possible commercially exploitable deposits in the Falkland Economy... 57.850W / -51.700 ; -57.850 ( Stanley ) later at the end of the page across from the title,. In 2016, and 776 smaller islands [ 98 ] [ H ] the main sheep breeds in early... During the feeding season in FebruaryMay. [ 35 ] since 2008, a ferry link between East and Falkland! And 776 smaller islands headed by a governor appointed by the crown been attributed to United! ' flora consists of 163 native vascular species Argentina does not recognise the Falkland Trough, this zone within. Islands government is headed by a governor appointed by the crown development was advanced by ship resupplying and farming! Personnel stationed on the Falkland islands '' comes from Falkland Sound, production. The falkland islands' economy ' GDP stands at about 133 million 99 ] Argentina does not recognise the islands... West Falkland, West Falkland favour of remaining a UK overseas territory the effect of a decrease in cruise.. 2020 est. and West Falkland, and inflation was calculated at 1.4 % in 2014 British heritage apparent... By individual families or by companies based in Britain climate of the islands British is. Education is free is apparent in Stanley, where pubs, bright red mailboxes, and 776 islands. Earlier today and provides an overview of the islands is the Falklands War require 110... Is debated by historians administration was restored two months later at the top of page...There are no political parties, and all members of the legislature are elected as independents. [121] 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. 5142S 5751W / 51.700S 57.850W / -51.700; -57.850 (Stanley). [67] Oil exploration also began in the 2010s, with indications of possible commercially exploitable deposits in the Falklands basin. Population: 3,198 Population per km: 0.263 Currency The currency on the Falkland Islands is the Falklands pound (FKP). Was categorised as "others" until the end of 2005. [11], Electricity production: [60], Some 2012 exploration results have indicated that taxation on oil revenues, even though they will be amongst the lowest in the world, are expected to more than double[clarification needed] the country's revenue.
[62] After the war the UK expanded its military presence, building RAF Mount Pleasant and increasing the size of its garrison.
[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. This page was last edited on 27 February 2023, at 14:17. Precipitation averages 25 inches (635 mm) annually. WebThe economy of the Falkland Islands, which first involved sealing, whaling and provisioning ships, became heavily dependent on sheep farming from the 1870s to 1980. Executive authority is vested in the British crown, and the islands government is headed by a governor appointed by the crown. )subscriptions per 100 inhabitants: 53 (2021 est. [45], The table below shows the average catch in tonnes of various species (as categorised by FIFD - Falkland Island Fishing Department) for successive five-year periods. The archipelago, with an area of 4,700sqmi (12,000km2), comprises East Falkland, West Falkland, and 776 smaller islands. [109] East Falkland houses Stanley (the capital and largest settlement),[107] the UK military base at RAF Mount Pleasant, and the archipelago's highest point: Mount Usborne, at 2,313ft (705m). [44] She has since extended her claim to all of the Falkland Island waters. Sheep farming was then introduced, taking over from the cattle trade in the 1870s and becoming self-supporting by 1885. White grass (Cortaderia pilosa) and diddle-dee (Empetrum rubrum) dominate the grasslands. [33] [113] Land birds make up most of the Falklands' avifauna; 63 species breed on the islands, including 16 endemic species. Falklands' GDP in 2018 reached 254.7 million with a real growth rate of 3,9% MercoPress Falklands' GDP in 2018 reached 254.7 million with a real growth rate of 3,9% Saturday, February 6th 2021 - 07:15 UTC Full article In 2018 fishing remained as the largest economic activity in the Falkland Islands, accounting for 64% of nominal GDP [E] Vernet settled at the ruins of Puerto Soledad in 1826, and accumulated resources on the islands until the venture was secure enough to bring settlers and form a permanent colony. Self-catering accommodation at holiday cottages on island farms. Economic growth began only after the Falkland Islands Company, which bought out Lafone's failing enterprise in 1851,[I] successfully introduced Cheviot sheep for wool farming, spurring other farms to follow suit. Students aged 16 or older may study at colleges in England for their GCE Advanced Level or vocational qualifications. [141][142] In 1983, full British citizenship was given to Falkland Islanders under the British Nationality (Falkland Islands) Act. The company was responsible for the majority of the economic activity on the islands, though its farms were sold in 1991 to the Falkland Islands Government. The total contribution of tourism to the Islands' is expected to reach 5.4 million in 2010. [135] Tourism, part of the service economy, has been spurred by increased interest in Antarctic exploration and the creation of direct air links with the United Kingdom and South America. )other: 7.6% (2018 est.
[83] The Falkland Islands Government (FIG) is required to deposit 110% of the face value of any coins struck on its behalf into its currency fund,[84] thereby effectively backing the Falkland pound with the pound sterling. [154] The Falklands' predominant and official language is English, with the foremost dialect being British English; nonetheless, some inhabitants also speak Spanish. )crude oil and lease condensate imports: 0 bbl/day (2018 est. [103] The islands are predominantly mountainous and hilly,[104] with the major exception being the depressed plains of Lafonia (a peninsula forming the southern part of East Falkland).
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