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Iceland

Iceland : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook

Imports

$4.501 billion (2011 est.)
$3.621 billion (2010 est.)

Exports

$5.3 billion (2011 est.)
$4.603 billion (2010 est.)

Inflation rate (consumer prices)

4% (2011 est.)
5.4% (2010 est.)

Unemployment rate

7.4% (2011 est.)
8.1% (2010 est.)

GDP - per capita (PPP)

$38,500 (2011 est.)
$37,800 (2010 est.)
$39,800 (2009 est.)
note: data are in 2011 US dollars

National product real growth rate

-3.4% (2010 est.)
-6.8% (2009 est.)
1% (2008 est.)

Internet users

301,600 (2009)

Telephones - mobile cellular

348,100 (2009)

Population growth rate

0.674% (2012 est.)

Population

313,183 (July 2012 est.)

Historical background

Settled by Norwegian and Celtic (Scottish and Irish) immigrants during the late 9th and 10th centuries A.

D.

, Iceland boasts the world's oldest functioning legislative assembly, the Althing, established in 930.

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Iceland

Economic overview

Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system.

Prior to the 2008 crisis, Iceland had achieved high growth, low unemployment, and a remarkably even distribution of income.

The economy depends heavily on the fishing industry, which provides 40% of export earnings, more than 12% of GDP, and employs 7% of the work force.

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Oxford Economics

Country Economic Forecasts > Iceland

  • $ 163
  • Country report
  • May 2017
  • by Oxford Economics

Continued double-digit expansion in Q4 2016 lifted full-year growth to 7.2% and 2017 growth is forecast just over 5%, well above the sustainable 2.5-3% trend and pushing inflation to over 3%. Overheating ...

  • Countries : Iceland

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