Political pressure groups and leaders:
NA
International organization participation:
Arctic Council, Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA,
FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO,
ILO, IMF, IMO, Interpol, IOC, IPU, ISO, ITU, ITUC, MIGA, NATO, NC,
NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU
(associate), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Albert JONSSON
chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704
telephone: [1] (202) 265-6653
FAX: [1] (202) 265-6656
consulate(s) general: New York
Diplomatic representation from the US: chief of mission: Ambassador Carol VAN VOORST embassy: Laufasvegur 21, 101 Reykjavik mailing address: US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640 telephone: [354] 562-9100 FAX: [354] 562-9118
Flag description:
blue with a red cross outlined in white extending to the edges of
the flag; the vertical part of the cross is shifted to the hoist
side in the style of the Dannebrog (Danish flag)
Economy Iceland
Economy - overview:
Iceland's Scandinavian-type economy is basically capitalistic, yet
with an extensive welfare system (including generous housing
subsidies), low unemployment, and remarkably even distribution of
income. In the absence of other natural resources (except for
abundant geothermal power), the economy depends heavily on the
fishing industry, which provides nearly 60% of export earnings and
employs 6% of the work force. The economy 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. Government policies include reducing the current
account deficit, limiting foreign borrowing, containing inflation,
revising agricultural and fishing policies, and diversifying the
economy. The government remains opposed to EU membership, primarily
because of Icelanders' concern about losing control over their
fishing resources. Iceland's economy has been diversifying into
manufacturing and service industries in the last decade, and new
developments in software production, biotechnology, and financial
services are taking place. The tourism sector is also expanding,
with the recent trends in ecotourism and whale watching. Since 2000
growth has varied from a -1% in 2002 to 8% in 2004.
GDP (purchasing power parity):
$11.4 billion (2006 est.)
GDP (official exchange rate):
$13.85 billion (2006 est.)
GDP - real growth rate:
3.7% (2006 est.)