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Icelandic Online Dictionary and Readings

Carry On Icelandic: Culture [selections] (2004)

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Efnahagsmßl - Economic Affairs

Efnahagsmßl

═sland er eitt af rÝkustu l÷ndum heims. Hinn sterki efnahagur landsins byggist einkum ß au­ugum nßtt˙ruau­lindum eins og fiskimi­unum umhverfis landi­, vatnsafli og jar­varma. Landi­ er velfer­arrÝki me­ blanda­ hagkerfi ■ar sem einkaframtaki­ blˇmstrar.

Hagv÷xtur ß ═slandi var um 5% a­ me­altali ß ßrunum 1996 til og me­ 1999. Ůetta er nŠr tv÷falt ÷rari hagv÷xtur en sß sem a­ jafna­i hefur veri­ Ý i­nrÝkjum heims ß sama tÝma. Kaupmßttur hefur aukist verulega frß ßrinu 1995 sem er r˙mlega fjˇrf÷ld s˙ aukning sem or­i­ hefur Ý vi­mi­unarl÷ndum ═slendinga. ═slenska hagkerfi­ er mj÷g hß­ sjßvar˙tvegi, enda eru sjßvarafur­ir mikilvŠgasta ˙tflutningsvara ■jˇ­arinnar og skapa um 70% allra ˙tflutningstekna hennar.

Color photograph

Sˇlfar eftir Jˇn Gunnar ┴rnason; efnahagur ═slands er mj÷g hß­ur sjßvar˙tvegi ßsamt flutningum a­fanga til og frß landinu sem fara a­allega fram me­ skipum (Sunship by Jˇn Gunnar ┴rnason; Icelandic economy is dependent upon the fish industry, and ships for transport of import and export).

Einungis um 5% ■jˇ­arinnar lifa ß landb˙na­i. Helsta grein hans er kvikfjßrrŠkt. Nřjar b˙greinar hafa komi­ fram ß undanf÷rnum ßrum, eins og lo­dřrarŠkt, fiskeldi og rŠktun nytjaskˇga. Atvinnu■ßtttaka Ý i­na­i jˇkst jafnt og ■Útt alla 20. ÷ldina einkum Ý matvŠlai­na­i, byggingari­na­i og stˇri­ju. Ůß hefur hugb˙na­arfyrirtŠkjum vaxi­ mj÷g fiskur um hrygg. Reynt hefur veri­ a­ stu­la a­ fj÷lbreyttari atvinnuhßttum, me­al annars me­ aukinni stˇri­ju sem hart er deilt um.

Ver­bˇlga var lengi vandamßl ß ═slandi. ┴ sÝ­asta ßratug var sÚrst÷k ßhersla l÷g­ ß a­ stu­la a­ st÷­ugleika Ý efnahagsmßlum. ┴rangur ■eirra a­ger­a hefur veri­ gˇ­ur og ver­bˇlga hefur veri­ 1,5 til 2,5% undanfarin ßr. Atvinnußstand er gott og atvinnutŠkifŠri eru fj÷lbreytt.

Sameinu­u ■jˇ­irnar ger­u nřlega Ýtarlega k÷nnun ß lÝfskj÷rum fˇlks Ý řmsum l÷ndum. ═sland skipar fimmta sŠti­ ß ■eim lista.

En ■rßtt fyrir st÷­ugt vaxandi velmegun ■jˇ­arinnar eru margir ■eirrar sko­unar a­ ekki njˇti allir jafngˇ­s af. Ůjˇ­ark÷kunni sÚ misskipt og fßi ■eir sem minna mega sÝn ß einhvern hßtt, eins og margir aldra­ir og ÷ryrkjar, lÝti­ Ý sinn hlut. Ůa­ sÚ margt Ý ■jˇ­fÚlaginu sem bendi til a­ bili­ milli rÝkra og fßtŠkra sÚ a­ aukast.

Economic Affairs

Iceland is one of the richest countries in the world. The nation's large economy is built, in particular, on the back of rich natural resources like the fishing grounds around the country, hydro-electric power and geothermal energy. The nation is a welfare state, with a mixed economy, and private enterprise blooms.

Economic growth was at an average around 5% from 1996 to 1999. That economic growth is nearly twice as fast as the rate which has been experienced by the world's industrial nations over the same period. Purchasing power has increased considerably since 1995, which is an increase of about four times that of nations comparable to Iceland. The Icelandic economy is very dependent on the fishing industry, with fish products the most significant national export, making up about 70% of all its exports.

Only about 5% of Icelanders make their living from agriculture, the largest part of which involves livestock farming. New farm enterprises have developed in recent years, such as fur farming, fishing farming, and forest cultivation. The proportion of the work force in industry has grew steadily throughout the twentieth-century, especially in the food industry, construction industry and large scale industry. Software enterprises have also developed substantially, and attempts have been made to create a greater variety of occupations, including moves (which are hotly contested) to increase large scale industry.

For a long time, the inflation rate was a problem in Iceland. In the last decade, particular emphasis was laid on creating stability in economic affairs. The result of these steps has been positive and the inflation rate has been 1.5 to 2.5% in recent years. However, there are indications that economic conditions are becoming worse.

The employment situation is good and employment opportunities are varied. The United Nations recently undertook a detailed investigation of the standard of living in various nations. Iceland was in fifth position on its list.

Despite the stable growth in the people's prosperity, many are of the view that all are not benefiting equally from it. The national cake is not evenly divided, with disadvantaged groups such as the old and handicapped getting a small share. There are many things in the society which indicate that the gap between rich and poor is increasing.

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