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| Newsletter 8 November 2003 Download Archive |
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| NEWS & EVENTS | |
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| Introduction to Iceland Iceland is a North Atlantic island where fisheries represent 75% of export revenues and yield more than half of all foreign currency earnings. However, there has been a considerable reduction in this industry due to production quotas and preservation measures. The main restructuring issue now is to decrease Iceland's dependency on primary production and diversify the economy. Only a few companies succeed in operating internationally. Iceland also benefits from large resources of low-cost hydroelectric power and geothermal energy. Most of the country's population (275,277 in '98), economic activity and technology potential are found in the capital Reykjavik. 
The educational level in Iceland is high, the labour force is mostly skilled, with unemployment at the low level of 2.3% ('98). There are two major universities with research responsibilities: the University of Iceland, located in Reykjavik (e.g. engineering, dentistry, medicine, natural sciences), and the University of Akureyri; located in the northern part of the country, offering specialised courses such as health sciences and fishery studies. The challenge is to create employment opportunities for future graduates from the already first-class Icelandic educational system. Agriculture and fisheries are important fields of R&D, especially at the University of Iceland and governmental agencies (Agricultural Research Institute, Technology Institute, Building Research Inst.). The agricultural sector provides R&D personnel for the dairy industry and consultants to farmers. |
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