_#_Leaders:

Chief of State--Queen ELIZABETH II (since 6 February 1952);

Head of Government--Governor William Hugh FULLERTON (since NA
1988)

_#_Political parties: NA

_#_Suffrage: universal at age 18

_#_Elections:

Legislative Council--last held 11 October 1989 (next to be
held October 1994); results--percent of vote by party NA;
seats--(10 total, 8 elected) number of seats by party NA

_#_Member of: ICFTU

_#_Diplomatic representation: none (dependent territory of the UK)

_#_Flag: blue with the flag of the UK in the upper hoist-side quadrant
and the Falkland Island coat of arms in a white disk centered on the
outer half of the flag; the coat of arms contains a white ram (sheep
raising is 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

_*_Economy
_#_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: