Skip to Main Navigation

Iceland manual (English)

Fishing and the export of fish and fish products, which fluctuate widely and unpredictably from year to year with variations in volume of fish caught, are the mainstay of the Iceland economy other foreign income is chiefly from small export of wool, mutton and sheepskins, and the servicing of foreign ships and airplanes. Domestic agriculture provides only part of food requirements, though there are small surpluses for export. Industry consists mainly of fish processing and electric power production. With inadequate domestic food supplies and no basic raw materials, Iceland is more heavily dependent on imports than most other countries. During the war and its immediate aftermath the national income of Iceland was much enlarged because of the great foreign demand, at high prices, for fish, and because of the British and American occupation. More recently, without occupation expenditures and with poor 1947-48 fishing seasons, income has remained high mainly through use of foreign assets accumulated during the war. These assets have now, however, been almost fully utilized.


  • Author

    Tibbits, G. D.

  • Document Date


  • Document Type

    Pre-2003 Economic or Sector Report

  • Report Number


  • Volume No


  • Total Volume(s)


  • Country


  • Region

    Europe and Central Asia,

  • Disclosure Date


  • Disclosure Status


  • Doc Name

    Iceland manual

  • Keywords

    War;high level of price;per capita income;deficit in dollar;increases in output;electric power development;electric power production;cost of living;export of meat;hides and skins;annual mean temperature;standard of living;quantity of fish;electric power plant;foreign trade;fish product;national income;fish exports;cultivable land;merchant marine;fish processing;raw material;fishing fleet;heating system;foreign relations;foreign asset;domestic requirement;merchant ship;cement plant;hot spring;foreign reserve;public finance;government plan;labor party;farm land;sheep skin;balance trade;dollar area;increasing exports;transportation expense;bank data;national budget;price index;domestic price;sailing boat;electricity production;flour mill;coarse grain;nitrogen fertilizer;frozen fish;marketing exports;small boat;steam power;small fish;industrial activity;annual output;export value;trade union;trawler owner;annual production;domestic consumption;fishery association;military expenditure;hydro resources;investment control;direct grant;conditional aid;heavily dependent;boiling point;rural district;large town;smaller towns;food requirement;commercial fleets;equipment improvement;earning power;domestic food;foreign financing;domestic agriculture;foreign ship;foreign income;agricultural product;external payment;competitive position;domestic industry;government land;air route;principal export;fertilizer plant;electric utilities;trade balance;increased export;gross investment;fish meal;aggregate value;real income;money income;fish oil;fishing season;process plant;foreign demand;fishing vessel;annual catch;participating country;temperature range;gulf stream;



Official version of document (may contain signatures, etc)

  • Official PDF
  • TXT*
  • Total Downloads** :
  • Download Stats
  • *The text version is uncorrected OCR text and is included solely to benefit users with slow connectivity.


Tibbits, G. D.

Iceland manual (English). Economic department report ; no. E44 Washington, D.C. : World Bank Group.