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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 Althingi, established in 930. Independent for over 300 years, Iceland was subsequently ruled by Norway and Denmark. Fallout from the Askja volcano of 1875 devastated the Icelandic economy and caused widespread famine. Over the next quarter century, 20% of the island's population emigrated, mostly to Canada and the US. Denmark granted limited home rule in 1874 and complete independence in 1944. The second half of the 20th century saw substantial economic growth driven primarily by the fishing industry. The economy diversified greatly after the country joined the European Economic Area in 1994, but Iceland was especially hard hit by the global financial crisis in the years following 2008. The economy is now on an upward trajectory, fueled primarily by a tourism and construction boom. Literacy, longevity, and social cohesion are first rate by world standards.

Localização

Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom

Recursos Naturais

fish, hydropower, geothermal power, diatomite

Distribuição da População

Iceland is almost entirely urban with half of the population located in and around the capital of Reykjavik; smaller clusters are primarily found along the coast in the north and west

308910
Icelandic, English, Nordic languages, German widely spoken
REYKJAVIK (capital) 184,000 (2014)
Designação longa convencional
Republic of Iceland
Abreviatura
Iceland
Forma longa local
Lydveldid Island
Forma curto local
Island
parliamentary republic
Nome
Reykjavik
Coordenadas Geográficas
64 09 N, 21 57 W
Fuso horário
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Iceland's economy combines a capitalist structure and free-market principles with an extensive welfare system. Except for a brief period during the 2008 crisis, Iceland has achieved high growth, low unemployment, and a remarkably even distribution of income. The economy depends heavily on the fishing industry, which provides 40% of merchandise export earnings, more than 12% of GDP, and employs nearly 5% of the work force. It remains sensitive to declining fish stocks, as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Since 2010, tourism has become the main pillar of Icelandic economic growth, with the number of tourists reaching 4.5 times the Icelandic population in 2016.
Inflação
1,695%
Taxa de imposto total (% dos lucros empresa)
30,1%
Taxa de juro real
6,071%
Produção, valor acrescentado (% PIB)
11,56%
Saldo Corrente
US$ 1.632.286.531
Força de trabalho, total
197.204
Emprego na Agricultura
3,90%
Emprego na Industria
17,76%
Emprego nos Serviços
78,34%
Taxa de Desemprego
3,76%
Importação de Produtos e Serviços
US$ 8.529.267.413
Exportação de Produtos e Serviços
US$ 9.844.009.278
Total Comércio de Mercadorias
50,66%
IDE, entradas líquidas
US$ -1.179.666.058
Exportações de serviços comerciais
US$ 5.389.740.996
potatoes, carrots, green vegetables, tomatoes, cucumbers; mutton, chicken, pork, beef, dairy products; fish
tourism, fish processing; aluminum smelting;; geothermal power, hydropower; medical/pharmaceutical products
Mercadorias
fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon (2015)
Parceiros
Netherlands 26.1%, UK 11.6%, Spain 11.5%, Germany 7.4%, France 5.7%, US 5.7%, Norway 4.7% (2015)
Mercadorias
machinery and equipment, petroleum products, foodstuffs, textiles
Parceiros
Norway 10.1%, Germany 8.6%, US 7.9%, China 7.9%, Denmark 7.1%, Netherlands 5.9%, Brazil 5.8%, UK 5% (2015)
Índice de Risco do País
A2
The political and economic situation is good. A basically stable and efficient business environment nonetheless leaves room for improvement. Corporate default probability is low on average.
Classificação de Clima de Negócios
A1
The business environment is very good. Corporate financial information is available and reliable. Debt collection is efficient. Institutional quality is very good. Intercompany transactions run smoothly in environments rated A1.
  • Healthier banking sector
  • Gradual decline in the public debt
  • Rich and renewable energy (geothermal, hydroelectricity)
  • Oil and gas reserves
  • Strong tourism potential
  • High foreign reserves
  • Dynamic household consumption
  • Small economy
  • High external debt
  • Concentration of production and exports (aluminum and sea products)
  • Russian embargo on Icelandic seafood products

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