ECONOMIC INFORMATION
Population - 30.3m
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Population growth - 0.7%
GDP (current US$) - $8.61bn (2002)
GDP per capita - $30,310
GDP per capita on a purchasing price parity basis - $25,000
GDP growth - 0.0% (2002)
Industrial production growth - 0.20%
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Inflation (12-month average) - 5.2% (2002)
Exports of goods and services as % of GDP - 40.5%
Top 3 export markets - UK, Germany, Netherlands
Local currency (change vs. US$ Jan 1-Nov 26, 2003) - Krone (7.1%)
WEF Growth Competitiveness ranking * - 8/102
WEF Business Competitiveness ranking ** - 14/95
Local industries - Fish processing; aluminium smelting; ferrosilicon production; geothermal power; tourism
Languages - Icelandic (official) English, Nordic languages, German
GOVERNANCE
World Bank Governance Matters III ***
Political stability - 1.55
Government effectiveness - 1.98
Regulatory quality - 1.55
Rule of law - 2
Control of corruption - 2.19
Economic Freedom ranking - 11/165
UN Human Development Index ranking - 2/175
FDI INFORMATION
Region - Scandinavia
No.of projects (Jan-Sep 2003) - 3
Market-share of projects in the region - 0.7%
Value of projects relative to GNP - 37.5%
Top destination sectors - Metals & Mining, Energy
Top source countries - USA, etherlands
Top 3 investors - Alcoa, International Pipe and Tube, Royal Dutch Shell Group
IPA
Name - Invest in Iceland Agency
Web address - www.invest.is
Telephone +354 561 5200
* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently
** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth
*** The score given is a deviation from the global mean score of zero. Ranged between –2.5 and +2.5, the higher the score, the better the performance