After the turn of the 19^th century the economy started developing from agricultural activities (mostly sheep breeding) towards the fisheries and fish processing, mainly stockfish.  Bird hunting and the collection and processing of eider down also played and still play an important role.

Wool is exported or process in small spinning and knitting factories all over the country.  Coal mining on The South Island has been among the trades for a long time.  Only a small portion of the Faeroe Islands is arable.  Fields for haymaking, potatoes and other vegetables are a common sight.

The main import products are fuel, industrial goods, vehicles and machinery.  The main harbour of the Faeroe Islands is Thorshofn and the international airport is a Vogar.

Communications on sea connect the islands with Denmark, Iceland and The Shetland Islands during summer.
Flight between iceland and Faroe island is available all year around