Falkland Islands
The Falkland Islands (; , ) is an archipelago in the South Atlantic Ocean on the Patagonian Shelf. The principal islands are about east of South America's southern Patagonian coast, and about from the northern tip of the Antarctic Peninsula, at a latitude of about 52°S. The archipelago, with an area of , comprises East Falkland, West Falkland and 776 smaller islands. As a British overseas territory, the Falklands have internal self-governance, and the United Kingdom takes responsibility for their defence and foreign affairs. The Falkland Islands' capital is Stanley on East Falkland.
Economy of the Falkland Islands
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. It then diversified and now has income from tourism, commercial fishing, and servicing the fishing industry as well as agriculture. The islands use the Falkland pound, which is backed by sterling.