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Iceland Economy
GDP:
purchasing power parity - $8.678 billion (2003 est.)
GDP - real growth rate:
2.6% (2003 est.)
GDP - per capita:
purchasing power parity - $30,900 (2003 est.)
GDP - composition by sector:
agriculture: 9.2% (includes fishing 12%)
industry: 26.7%
services: 64.2% (2003 est.)
Investment (gross fixed):
21.6% of GDP (2003)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
2.1% (2003 est.)
Labor force:
160,000 (2003)
Labor force - by occupation:
agriculture 5.1%, fishing and fish processing 11.8%, manufacturing 12.9%, construction 10.7%, services 59.5% (1999)
Unemployment rate:
3.4% (2003 est.)
Budget:
revenues: $4.205 billion
expenditures: $4.405 billion, including capital expenditures of $467 million (2003)
Public debt:
41.5% of GDP (2003)
Industries:
fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism
Industrial production growth rate:
8.1% (2003 est.)
Electricity - production:
7.894 billion kWh (2001)
Electricity - production by source:
fossil fuel: 0.1%
hydro: 82.5%
other: 17.5% (geothermal) (2001)
nuclear: 0%
Electricity - consumption:
7.341 billion kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
16,300 bbl/day (2001 est.)
Oil - exports:
0 bbl/day (2001)
Oil - imports:
15,470 bbl/day (2001)
Agriculture - products:
potatoes, green vegetables, mutton, dairy products, fish
Current account balance:
$-574 million (2003)
Exports:
$2.379 billion f.o.b. (2003 est.)
Exports - commodities:
fish and fish products 70%, animal products, aluminum, diatomite, ferrosilicon
Exports - partners:
Germany 17.4%, UK 17.4%, Netherlands 11.2%, US 9.8%, Spain 6.3%, Denmark 5%, Norway 4.5%, France 4% (2003 est.)
Imports:
$2.59 billion (2003 est.)
Imports - commodities:
machinery and equipment, petroleum products; foodstuffs, textiles
Imports - partners:
Germany 11.8%, Denmark 8%, US 7.5%, UK 7.5%, Norway 7%, Sweden 6.5%, Netherlands 6.2%, Italy 4.7% (2003 est.)
Reserves of foreign exchange & gold:
$818.7 million (2003)
Debt - external:
$2.6 billion (1999)
Economic aid - donor:
NA
Currency code:
ISK
Fiscal year:
calendar year
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