Economy of Iceland
Historically, investors tended to be reticent to hold Icelandic bonds because of the persistence of high inflation and the volatility of the Króna. What did exist was largely limited to bonds offered by the central government. The bond market on the ICEX has boomed in recent years, however, largely because of the resale of mortgages as housing bonds.
A mutual fund market exists on the ICEX in theory, but no funds are currently listed. A small derivatives market formerly existed, but was closed in 1999 because of illiquidity.
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Growth
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. Growth has slowed between 2000 and 2002, but is expected to pick up in the future. Following the decision by the Icelandic government to recommence commercial whaling, there is a school of thought that would like to boycott tourism in Iceland.
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See also
- OECD's Iceland country Web site and OECD Economic Survey of Iceland
- Economy of Europe
- Whaling in Iceland
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Notes
- ^ The World Factbook: Rank Order - GDP - Per capita. Central Intelligence Agency.
- ^ The World Factbook - Iceland - Economy. Central Intelligence Agency.
- ^ Notes and Coin. Central Bank of Iceland.
- ^ The World Factbook - Iceland - Economy. Central Intelligence Agency.
- ^ The Economy of Iceland. The Central Bank of Iceland.
- ^ Country Commercial Guide - Iceland. United States Commercial Service.
- ^ The World Factbook - Iceland - Economy. Central Intelligence Agency.
- ^ Country Commercial Guide - Iceland. United States Commercial Service.
- ^ The World Factbook - Iceland - Economy. Central Intelligence Agency.
- ^ Powering The Plains, South Dakota Public Utilities Commission, published 2003, accessed 2007-05-14
- ^ Economy of Iceland. Central Bank of Iceland.
- ^ Viðbótarstækkun Norðuráls flýtt. Norðurál (April 3, 2006).
- ^ Fjarðaál Overview. Alcoa Aluminum.
- ^ Bjork's mother on hunger strike. BBC News (October 17, 2002).
- ^ Alcoa, Government of Iceland and Municipality of Húsavík Sign Memorandum of Understanding. Alcoa (May 17, 2006).
- ^ Century Aluminum Company Icelandic Subsidiary Signs Energy MOU for Helguvik Greenfield Smelter. Nordural (June 2, 2006).
- ^ Iceland Export Directory - Medical, Cosmetic, Health Technology in Iceland. Iceland Ministry of Foreign Affairs and External Trade.
- ^ Amide Pharmaceutical, Inc. Company Profile. Yahoo! Finance.
- ^ Stock price. Actavis.
- ^ Corporate Fact Sheet. Actavis.
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External links
- Economic figures updated regularly can be found on the official website of the Icelandic Bureau of Statistics - http://www.statice.is
- Kauphöll Íslands (Iceland Stock Exchange - ICEX) - http://www.icex.is
- Integrated financial services in Iceland - http://www.kaupthing.com
- Iceland Country Profile on the link2exports website
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