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Economy in Iceland


Agriculture is to compose the land and grow animals for human consumption or industrial. Agriculture has kept human population alive since it develop and had enough intelligence to see the crop and livestock. Examples of agriculture are meat production, land and forestry. Agriculture came into being at the end of the last ice age and the begining of the new stoneage about 12 thousand years ago. About 4000 years ago is believed that it was started to train horses and used for towing and riding. Before the cattle and sheep were domesticated. There are about 4000 farmers in Iceland which is about 2,5% af the total work force in Iceland. It is estimated that about 10.000 people have jobs related to the agriculture.



Fishing industry
Fishing industry is not just about fishing, It is in fact the whole process from research on environmental resources (ocean) and everything in between until the product has reached the media at national and international markets. The main goal of fish industry is to sell fish not to just fish. Fish industry it is the factor that is responsible for the act and processing of seafood. It’s products are made from the raw material.
In Iceland there are about 4200 fishermen and in the fish industry are roughly 8000 jobs. Fewer people are needed every year because of more technology in the fish processing.
The fish industry provides one of the main national income in Iceland.



Services are intangible products that can not be owned by the customer but customers will benefit. F.ex., child care, car industry and moblie phone deal. But there is a product that is both tangible and service at the same time. In restaurants, f.ex., offer a product (food) and services. Most Icelanders work in the service industries.




jokulsarlonTourism industry
Tourism industry is the industry that is in the biggest growth in Iceland. It‘s mostly about service for tourism, such as migration, accommandotions, restaurants, and entertainment. If we do not count fising industry with, then tourist industry created the greatest foreign currency in the year 2000. The main  tourism in Iceland is natural conntected tourism and cultural tourism as well as various activities around study tours, business tours, conference tours, arrivals of cruise ships and etc. Tourism comes with many benefits for the coyntry, it has created a lot of jobs. It is also important for women in rural areas, and gives more variety for jobs for women.

Over half a million people visited Iceland in the year 2009 which is more than the whole population of Iceland which is about 319.000 people

Written by Karen Björg