The main industry on Frøya is fish farming. Frøya has developed into one of Norway´s foremost aquacultural municipalities with all its fish farming and related businesses. Frøya is the biggest fishing community in Sør Trøndelag. One hundred and eighty fishermen are dependent on fish as their main source of income. In agriculture there are active farmers that keep livestock.
The largest fishing communities on Frøya are Sula a fishing village with about 1.820 inhabitants, store/post office and Mausund a fishing village with about 200 inhabitants, grocery store, post office, guest-house and 2 restaurants out on the islands.
The tunnel from Hitra to Frøya is the world´s deepest tunnel.
Most of the people on Frøya live between Flatvalsundet and Svellingen. The rest of the population live spread throughout the island; often near the sea. The landscape of Frøya is typically open, virtually treeless and relatively flat. The highest point of elevation on the island is only 75 metres above sea level. The characteristic terrain on Frøya can be described as low lying hills, marshland an many lakes.