III.

Economy and Government

Sheep raising and wool processing are the principal economic activities on the Falklands. Wool is the leading export by far; some hides and skins also are shipped. Imports are principally foodstuffs, fuels, textiles, machinery, and hardware. A private firm, the Falkland Islands Company, played a major role in the islands' economy in the 1980s.

Under a 1985 constitution, the islands are administered by a British Governor and a legislative council of ten members, eight of whom are elected. The other two members, who have no vote, are the chief executive and the financial secretary; they also serve on the executive council, along with three legislators and the Governor, who presides.