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    Islandia Econom�a 2000

      Econom�a - descripci�n: Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system, low unemployment, and remarkably even distribution of income. The economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 12% of the work force. In the absence of other natural resources (except for abundant hydrothermal and geothermal power), Iceland's economy is vulnerable to changing world fish prices. The economy remains sensitive to declining fish stocks as well as to drops in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. The center-right government plans to continue its policies of reducing the budget and current account deficits, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, diversifying the economy, and privatizing state-owned industries. The government remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their fishing resources. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, and new developments in software production, biotechnology, and financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism and whale-watching. Growth is likely to slow in 2000, to a still respectable 3.5%.

      Producto Bruto Interno (PBI): purchasing power parity - $6.42 billion (1999 est.)

      PBI - Indice de Incremento real: 4.5% (1999 est.)

      PBI - por capital: purchasing power parity - $23,500 (1999 est.)

      PBI - Composici�n por Sector:
      agriculture: 15% (includes fishing 13%)
      industry: 21%
      services: 64% (1998 est.)

      Poblaci�n bajo linea de pobertad: NA%

      Ingreso en casa o porcentage de consumci�n:
      lowest 10%: NA%
      highest 10%: NA%

      Indice de Inflaci�n (precios del consumidor): 1.9% (1999 est.)

      Fuerza Laboral: 131,000 (1999)

      Fuerza Laboral - por ocupaci�n: manufacturing 12.9%, fishing and fish processing 11.8%, construction 10.7%, other services 59.5%, agriculture 5.1% (1999)

      Indice de desempleo: 2.4% (1999 est.)

      Presupuesto:
      revenues: $NA
      expenditures: $3 billion, including capital expenditures of $146 million (1999 est.)

      Industrias: fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism

      Industrial production growth rate: NA%

      Electricidad - Producci�n: 6.187 billion kWh (1998)

      Electricidad - producci�n por fuente:
      fossil fuel: 0.06%
      hydro: 89.88%
      nuclear: 0%
      other: 10.06% (1998)

      Electricidad - consumci�n: 5.754 billion kWh (1998)

      Electricidad - exportaciones: 0 kWh (1998)

      Electricidad - importaciones: 0 kWh (1998)

      Agricultura - productos: potatoes, turnips; cattle, sheep; fish

      Exportaciones: $1.9 billion (f.o.b., 1998)

      Exporationes - comodidades: fish and fish products 70%, animal products, aluminum, diatomite and ferrosilicon

      Exportaciones - socios: EU 65% (UK 19%, Germany 15%, France 7%, Denmark 6%), US 13%, Japan 5% (1998)

      Importaciones: $2.4 billion (f.o.b., 1998)

      Importaciones - comodidades: machinery and equipment, petroleum products; foodstuffs, textiles

      Importaciones - socios: EU 56% (Germany 12%, UK 10%, Norway 9%, Denmark 8%, Sweden 6%), US 11% (1998)

      Deuda - externa: $2.6 billion (1999)

      Ayuda economica - recipiente: $NA

      Moneda: 1 Icelandic krona (IKr) = 100 aurar

      Indice de intercambio: Icelandic kronur (IKr) per US$1 - 72.334 (January 2000), 72.352 (1999), 70.958 (1998), 70.904 (1997), 66.500 (1996), 64.692 (1995)

      A�o Fiscal: calendar year

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    Copyright © 2000 Photius Coutsoukis (all rights reserved)


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