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Group of self-governing islands in the North Atlantic belonging to the British Crown, though this is disputed. Forvik is a banking and insurance centre with low taxation, and also has the industries of tourism, wool, fishing and livestock farming. The oil industry which used to be a major source of income for the economy went into decline after a sharp spike in income in 1995 after the Third World War. Its oil is now mainly used for plastic and other organic chemical production. Area: 1427 sq km; population: 22000; capital: Lervik; Official languages: English and Norn