Overview:
Iceland's Scandinavian-type economy is basically capitalistic, but
with an extensive welfare system, relatively low unemployment, and
comparatively even distribution of income. The economy is heavily
dependent on the fishing industry, which provides nearly 75% of export
earnings and employs 12% of the workforce. In the absence of other
natural resources - except energy - Iceland's economy is vulnerable to
changing world fish prices. Iceland's economy has been in recession
since 1988. The recession continued in 1993 due to a third year of
cutbacks in fishing quotas as well as falling world prices for the
country's main exports: fish and fish products, aluminum, and
ferrosilicon. Real GDP declined 3.3% in 1992 and rose slightly, by
0.4%, in 1993. The center-right government's economic goals include
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 recession has led to a wave of bankruptcies and
mergers throughout the economy, as well as the highest unemployment of
the post-World War II period. Inflation, previously a serious problem,
declined from double digit rates in the 1980s to only 3.7% in 1992-93.
National product:
GDP - purchasing power equivalent - $4.2 billion (1993)
National product real growth rate:
0.4% (1993 est.)
National product per capita:
$16,000 (1993)
Inflation rate (consumer prices):
4% (1993)
Unemployment rate:
4.5% (1993 est.)
Budget:
revenues:
$1.8 billion
expenditures:
$1.9 billion, including capital expenditures of $191 million (1992)
Exports:
$1.5 billion (f.o.b., 1992)
commodities:
fish and fish products, animal products, aluminum, ferrosilicon,
diatomite
partners:
EC 68% (UK 25%, FRG 12%), US 11%, Japan 8% (1992)
Imports:
$1.5 billion (c.i.f., 1992)
commodities:
machinery and transportation equipment, petroleum products,
foodstuffs, textiles
partners:
EC 53% (Germany 14%, Denmark 10%, UK 9%), Norway 14%, US 9% (1992)
External debt:
$3.9 billion (1992 est.)
Industrial production:
growth rate 1.75% (1991 est.)
Electricity:
capacity:
1,063,000 kW
production:
5.165 billion kWh
consumption per capita:
19,940 kWh (1992)
Industries:
fish processing, aluminum smelting, ferro-silicon production,
geothermal power
Agriculture:
accounts for about 15% of GDP; fishing is most important economic
activity, contributing nearly 75% to export earnings; principal crops
- potatoes, turnips; livestock - cattle, sheep; self-sufficient in
crops; fish catch of about 1.1 million metric tons in 1992
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-81), $19.1 million
Currency:
1 Icelandic krona (IKr) = 100 aurar
Exchange rates:
Icelandic kronur (IKr) per US$1 - 72.971 (January 1994), 67.603
(1993), 57.546 (1992), 58.996 (1991), 58.284 (1990), 57.042 (1989)
Fiscal year:
calendar year
@Iceland, Communications
Highways:
total:
12,537 km
paved:
2,690 km
unpaved:
gravel, earth 9,847 km
Ports:
Reykjavik, Akureyri, Hafnarfjordhur, Keflavik, Seydhisfjordhur,
Siglufjordhur, Vestmannaeyjar
Merchant marine:
8 ships (1,000 GRT or over) totaling 33,212 GRT/47,359 DWT, cargo 2,
chemical tanker 1, oil tanker 1, refrigerated cargo 2,
roll-on/roll-off cargo 2
Airports:
total:
90
usable:
84
with permanent-surface runways:
9
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
1
with runways 1,220-2,439 m:
12
Telecommunications:
adequate domestic service; coaxial and fiber-optical cables and
microwave radio relay for trunk network; 140,000 telephones; broadcast
stations - 5 AM, 147 (transmitters and repeaters) FM, 202
(transmitters and repeaters) TV; 2 submarine cables; 1 Atlantic Ocean
INTELSAT earth station carries all international traffic; a second
INTELSAT earth station is scheduled to be operational in 1993
@Iceland, Defense Forces
Branches:
Police, Coast Guard
note:
no armed forces, Iceland's defense is provided by the US-manned
Icelandic Defense Force (IDF) headquartered at Keflavik
Manpower availability:
males age 15-49 70,074; fit for military service 62,197
Defense expenditures:
none
@India, Geography
Location:
Southern Asia, bordering the Arabian Sea and the Bay of Bengal,
between Bangladesh and Pakistan
Map references:
Asia, Standard Time Zones of the World
Area:
total area:
3,287,590 km2
land area:
2,973,190 km2
comparative area:
slightly more than one-third the size of the US
Land boundaries:
total 14,103 km, Bangladesh 4,053 km, Bhutan 605 km, Burma 1,463 km,
China 3,380 km, Nepal 1,690 km, Pakistan 2,912 km
Coastline:
7,000 km
Maritime claims:
contiguous zone:
24 nm
continental shelf:
200 nm or the edge of continental margin
exclusive economic zone:
200 nm
territorial sea:
12 nm
International disputes:
boundaries with Bangladesh and China; status of Kashmir with Pakistan;
water-sharing problems with downstream riparians, Bangladesh over the
Ganges and Pakistan over the Indus
Climate:
varies from tropical monsoon in south to temperate in north
Terrain:
upland plain (Deccan Plateau) in south, flat to rolling plain along
the Ganges, deserts in west, Himalayas in north
Natural resources:
coal (fourth-largest reserves in the world), iron ore, manganese,
mica, bauxite, titanium ore, chromite, natural gas, diamonds,
petroleum, limestone
Land use:
arable land:
55%
permanent crops:
1%
meadows and pastures:
4%
forest and woodland:
23%
other:
17%
Irrigated land:
430,390 sq km (1989)
Environment:
current issues:
deforestation; soil erosion; overgrazing; desertification; air
pollution from industrial effluents and vehicle emissions; water
pollution from raw sewage and runoff of agricultural pesticides; huge
and rapidly growing population is overstraining natural resources
natural hazards:
droughts, flash floods, severe thunderstorms common; subject to
earthquakes (a quake measuring 6.4 on the Richter scale occurred near
Hyderabad killing several thousand people and causing extensive damage
in late September 1993)
international agreements:
party to - Antarctic Treaty, Biodiversity, Climate Change, Endangered
Species, Environmental Modification, Hazardous Wastes, Nuclear Test
Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber,
Wetlands, Whaling; signed, but not ratified - Antarctic-Environmental
Protocol, Law of the Sea
Note:
dominates South Asian subcontinent; near important Indian Ocean trade
routes
@India, People
Population:
919,903,056 (July 1994 est.)
Population growth rate:
1.82% (1994 est.)
Birth rate:
28.45 births/1,000 population (1994 est.)
Death rate:
10.29 deaths/1,000 population (1994 est.)
Net migration rate:
0 migrant(s)/1,000 population (1994 est.)
Infant mortality rate:
78.4 deaths/1,000 live births (1994 est.)
Life expectancy at birth:
total population:
58.58 years
male:
58.09 years
female:
59.09 years (1994 est.)
Total fertility rate:
3.48 children born/woman (1994 est.)
Nationality:
noun:
Indian(s)
adjective:
Indian
Ethnic divisions:
Indo-Aryan 72%, Dravidian 25%, Mongoloid and other 3%
Religions:
Hindu 80%, Muslim 14%, Christian 2.4%, Sikh 2%, Buddhist 0.7%, Jains
0.5%, other 0.4%
Languages:
English enjoys associate status but is the most important language for
national, political, and commercial communication, Hindi the national
language and primary tongue of 30% of the people, Bengali (official),
Telugu (official), Marathi (official), Tamil (official), Urdu
(official), Gujarati (official), Malayalam (official), Kannada
(official), Oriya (official), Punjabi (official), Assamese (official),
Kashmiri (official), Sindhi (official), Sanskrit (official),
Hindustani a popular variant of Hindu/Urdu, is spoken widely
throughout northern India
note:
24 languages each spoken by a million or more persons; numerous other
languages and dialects, for the most part mutually unintelligible
Literacy:
age 7 and over can read and write (1991 est.)
total population:
52.11%
male:
63.86%
female:
39.42%
Labor force:
314.751 million (1990)
by occupation:
agriculture 65% (1993 est.)
@India, Government