OECD - OECD Economic Surveys: Iceland 2019
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OECD (2019), OECD Economic Surveys: Iceland 2019 , OECD Publishing, Paris, https://doi.org/10.1787/c362e536-en .
The economic situation and policies of Iceland were reviewed at a meeting of the Economic and Development Review Committee on 13 June 2019. The draft was revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 12 July 2019.
The Secretariats draft report was prepared for the Committee by Hansjoerg Bloechliger and Vassiliki Koutsogeorgopoulou under the supervision of Piritta Sorsa. The draft has benefitted from consultancy work by Olga Rastrigina and Daniele Pacifico and valuable background research by Laura Brogi.
Statistical research was provided by Anne Legendre. Assa Fofana formatted and produced the layout.
The previous Survey of Iceland was issued in June 2017.
Basic statistics of Iceland, 2018 | |||||
|---|---|---|---|---|---|
(Numbers in parentheses refer to the OECD average) | |||||
LAND, PEOPLE AND ELECTORAL CYCLE | |||||
Population (million) | 0.4 | Population density per km | 3.5 | (37.8) | |
Under 15 (%) | 20.0 | (17.8) | Life expectancy (years, 2017) | 82.2 | (80.3) |
Over 65 (%) | 14.8 | (17.1) | Men (2017) | 80.4 | (77.7) |
Foreign-born (%, 2017) | 13.5 | Women (2017) | 84.1 | (83.0) | |
Latest 5-year average growth (%) | 1.8 | (0.6) | Latest general election | October 2017 | |
ECONOMY | |||||
Gross domestic product (GDP) | Value added shares (%, 2016) | ||||
In current prices (billion USD) | 26.1 | Primary sector | 5.2 | (2.4) | |
In current prices (billion ISK) | 2810.0 | Industry including construction | 22.3 | (27.5) | |
Latest 5-year average real growth (%) | 4.5 | (2.3) | Services | 72.5 | (70.1) |
Per capita (000 USD PPP, 2017) | 57.5 | (46.4) | |||
GENERAL GOVERNMENT | |||||
Per cent of GDP | |||||
Expenditure (OECD: 2017) | 41.7 | (40.3) | Gross financial debt (OECD: 2017) | 61.8 | (112.4) |
Revenue (OECD: 2017) | 42.8 | (38.1) | Net financial debt (OECD: 2017) | 6.5 | (69.6) |
EXTERNAL ACCOUNTS | |||||
Exchange rate (ISK per USD) | 107.79 | Main exports (% of merchandise exports) | |||
PPP exchange rate (USA = 1) | 138.33 | Manufactured goods | 43.7 | ||
In per cent of GDP | Food and live animals | 41.9 | |||
Exports of goods and services | 47.1 | (56.1) | Machinery and transport equipment. | 4.5 | |
Imports of goods and services | 44.1 | (52.0) | Main imports (% of total goods imports) | ||
Current account balance | 2.9 | (0.3) | Machinery and transport equipment | 34.3 | |
Net international investment position | 9.1 | Mineral fuels, lubricants and related materials | 14.4 | ||
Crude materials, inedible, except fuels | 12.4 | ||||
LABOUR MARKET, SKILLS AND INNOVATION | |||||
Employment rate (aged 15 and over %) | 85.1 | (68.4) | Unemployment rate, Labour Force Survey (age 15 and over) (%) | 2.7 | (5.3) |
Men | 87.5 | (76.0) | Youth (age 15-24, %) | 6.0 | (11.1) |
Women | 82.5 | (60.9) | Long-term unemployed (1 year and over, %, 2017) | 0.2 | (1.7)) |
Participation rate for 15-64 year-olds (% 2017) | 88.3 | (72.1) | Tertiary educ. Attain ( aged 25-64 year-olds (%,2017) | 42.4 | (36.9) |
Average hours worked per year (2017) | 1858 | (1 746) | Gross domestic expenditure on R&D (% of GDP, 2016) | 2.1 | (2.5) |
ENVIRONMENT | |||||
Total primary energy supply per capita (toe, 2017) | 16.8 | (4.1) | CO2 emissions from fuel combustion per capita (tonnes, 2016) | 6.3 | (9.0) |
Renewables (%, 2017) | 88.5 | (10.2) | Water abstractions per capita (1 000 m, 2014) | 4.4 | |
Exposure to air pollution (more than 10 g/m3 of PM2.5, % of population) |
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