Economic statistics - 01.11.1993, Side 2

Government
ln 1918 lceland became a sovereign state in union with Den-
mark, and full independence was declared in 1944.
The legislative power of the country is vested in the Parlia-
ment, the Althing, which consists of 63 members and since
1991 sits in one chamber only. The Althing is chosen by popular
vote for a term of four years. Presently, five political parties are
represented in the Althing. The present government is a coalí-
tion government consisting of the Independence Party and the
Social Democratic Party. Prime Minister is Mr. Davíð Oddsson.
The highest office in the state is that of the Presidency with
similar powers as a constitutional monarch. The President is
elected by popular vote for a term of four years. The fourth and
the present President of the Republic of lceland is Mrs. Vigdís
Finnbogadóttir, first elected in 1980.
The seat of the Government is in Reykjavlk, the Capital.
Election results in terms olrepresentation in theAithing.
1979 1983 1987 1991
The Independence Party 22 23 18 26
The Progressive Party 17 14 13 13
The Peoples’Alliance . ....... 11 10 8 9
The Social Democratic Party 10 6 10 10
The Citizens' Party ............... - - 7
The Women’s Alliance .............. - 3 6 5
Other - 4 1 -
Total members of Althing ....... 60 60 63 63
Geography
Thousands ofsquare kilometers
Geographic size .............................. 103.0
Thereof:
Altitude 0-200 meters 24.7
Altitute 200-400 meters ................. 18.4
Altitude above 400 meters .................. 59.9
Giac.ers ...................................... 12.0
Lavafields ...... 11.0
Lakes 3.0
Cultivated area ................................ 1.1
Cultivatable area ............................. 20.0
The seabed out to 200 meter depth 111.0
The seabed out to 400 meter depth ............ 183.0
The fishing zone (200 miles) ................. 758.0
Shortest distance to:
Greenland ............................ 287kilometers
Faeroe Islands ................. 420 kilometers
Jan Mayen ...................... 550 k! ometers
Scotland ............................. 798kilometers
Norway ......................... 970 kilometers
The nation
Population Desember 1st 1992 262193
Thereof Reykjavík and neighb. localities ... 151779
Life expectancy, males ......... 75.08 years
Life expectancy, females .......... 80.79 years
Annual population growth:
1980-1985 ........................... 1.10percent
1985-1990 ........................ 1.11 porcent
1988 1.75percent
1989 0.72percent
1990 ......................... 0.87 oerce.nt
1991 ......................... 1.51 percent
1992 ............ 1.01 perccnt
4.9percent
11.8percent
12.5percent
10.8percent
14.5percent
6.7 percent
38.7percent
100.0percent
Language
The language in lceland is lcelandic, which belongs to the
Nordic group of the Germanic languages.
Education
Education in lceland is compulsory up to the age of 16. There
are two universities. One is located in Reykjavik and the other in
Akureyri. Total enrollment is 5400 students.
Membership in international organizations
The United Nations (1946). The Nordic Council (1952), IMF
(1945), The World Bank (1945), IFC (1956), IDA (1961), GATT
(1964), OECD (1949), EFTA (1970), Council of Europe (1953),
NATO (1949).
Currency
The lcelandic currency is the króna. At the beginning of 1981
1 króna was roughly equivalent to 16 U.S. cents (See further-
more, the table on exchange rates on page 17).
The Central Bank of lceland
The responsibility of note issue in lceland is in the hands of
the Central Bank (Seðlabanki íslands) which carries out all the
traditional central banking functions, being the principal mone-
tary authority in the country, the Treasury’s and the banks'
bank. The Central Bank was formally established in 1961, but
before that the central banking functions were carried out within
the National Bank, currentlythe largest commercial bank in lce-
land. The Board of Directors is elected by the Althing for a term
of four years. Its current chairman is Dr. Ágúst Einarsson. The
Governors of the Bank are appointed by the Minister of Com-
merce and Banking. Governors are Mr. Tómas Árnason, Mr.
Birgir ísleifur Gunnarsson and Mr. Jón Sigurðsson.
The Bank publishes a monthly bulletin of statistics, Hagtölur
mánaðarins, in lcelandic, a quarterly one, Economic Statistics,
in English, an economic journal, Fjármálatíðindi, in lcelandic,
and an annual report in lcelandic and an abridged English
version. All these publications can be obtained from the Eco-
nomic Department of the Bank.
Banking
There are 3 commercial banks in lceland, 2 of which are
government owned Furthermore there are 33 savings banks.
These institutions carry out all the traditional operations of
banking.
All krónur amounts in this bulletin are expressed in new
krdnurfollowing the currency reform which became effective on
January 1st, 1981 (see Economic Statistics, November 1980,
p. 32, and February 1981, p. 2).
Due to rounding, figures in individual tables may not add
exactly up to the total.
Occupational distribution 1990
Agriculture .....................
Fisheries and processing ........
Manufacturing ...................
Construction ....................
Commerce ........................
Communications ..................
Services and other ..............