Although first sighted by an English navigator in 1592, the first landing (English) did not occur until almost a century later in 1690, and the first settlement (French) was not established until 1764. The colony was turned over to Spain two years later and the islands have since been the subject of a territorial dispute, first between Britain and Spain, then between Britain and Argentina. The UK asserted its claim to the islands by establishing a naval garrison there in 1833. Argentina invaded the islands on 2 April 1982. The British responded with an expeditionary force that landed seven weeks later and after fierce fighting forced an Argentine surrender on 14 June 1982.
cold marine; strong westerly winds, cloudy, humid; rain occurs on more than half of days in year; average annual rainfall is 24 inches in Stanley; occasional snow all year, except in January and February, but does not accumulate
overfishing by unlicensed vessels is a problem; reindeer were introduced to the islands in 2001 for commercial reasons; this is the only commercial reindeer herd in the world unaffected by the 1986 Chornobyl disaster
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
The economy was formerly based on agriculture, mainly sheep farming, but today fishing contributes 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 total more than $40 million per year, which help support the island's health, education, and welfare system. Squid accounts for 75% of the fish taken. Dairy farming supports domestic consumption; crops furnish winter fodder. Exports feature shipments of high-grade wool to the UK and the sale of postage stamps and coins. The islands are now self-financing except for defense. The British Geological Survey announced a 200-mile oil exploration zone around the islands in 1993, and early seismic surveys suggest substantial reserves capable of producing 500,000 barrels per day; to date, no exploitable site has been identified. An agreement between Argentina and the UK in 1995 seeks to defuse licensing and sovereignty conflicts that would dampen foreign interest in exploiting potential oil reserves. Tourism, especially eco-tourism, is increasing rapidly, with about 30,000 visitors in 2001. Another large source of income is interest paid on money the government has in the bank. The British military presence also provides a sizeable economic boost.
Argentina, which claims the islands in its constitution and briefly occupied them by force in 1982, agreed in 1995 to no longer seek settlement by force; UK continues to reject Argentine requests for sovereignty talks