urism and whale watching. The 2006 closure of the US military
base at Keflavik had very little impact on the national economy;
Iceland's low unemployment rate aided former base employees in
finding alternate employment.

GDP (purchasing power parity):

$12.19 billion (2007 est.)

GDP (official exchange rate):

$20 billion (2007 est.)

GDP - real growth rate:

3.8% (2007 est.)

GDP - per capita (PPP):

$40,400 (2007 est.)

GDP - composition by sector:

agriculture: 5.2%
industry: 25.7%
services: 69.1% (2007 est.)

Labor force:

181,000 (2007 est.)

Labor force - by occupation:

agriculture: 5.1%
industry: 23%
services: 71.8% (2005)

Unemployment rate:

1% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Distribution of family income - Gini index:

25 (2005)

Investment (gross fixed):

27.5% of GDP (2007 est.)

Budget:

revenues: $9.64 billion
expenditures: $8.602 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

27.6% of GDP (2007 est.)

Inflation rate (consumer prices):

5.1% (2007 est.)

Central bank discount rate:

15.25% (31 December 2007)

Commercial bank prime lending rate:

19.29% (31 December 2007)

Stock of money:

$6.64 billion (31 December 2007)

Stock of quasi money:

$15.05 billion (31 December 2006)

Stock of domestic credit:

$49.67 billion (31 December 2006)

Agriculture - products:

potatoes, green vegetables; mutton, dairy products; fish

Industries:

fish processing; aluminum smelting, ferrosilicon production;
geothermal power, tourism

Industrial production growth rate:

9% (2007 est.)

Electricity - production:

11.71 billion kWh (2007 est.)

Electricity - consumption:

9.312 billion kWh (2006 est.)

Electricity - exports:

0 kWh (2007 est.)

Electricity - imports:

0 kWh (2007 est.)

Electricity - production by source:

fossil fuel: 0.1%
hydro: 82.5%
nuclear: 0%
other: 17.5% (geothermal) (2001)

Oil - production:

0 bbl/day (2007 est.)

Oil - consumption:

21,120 bbl/day (2007 est.)

Oil - exports:

860.8 bbl/day (2005)

Oil - imports:

17,450 bbl/day (2005)

Oil - proved reserves:

0 bbl (1 January 2006 est.)

Natural gas - production:

0 cu m (2007 est.)

Natural gas - consumption:

0 cu m (2007 est.)

N