The economy of Iceland is small and subject to high volatility. In 2011, gross domestic product was US$12 billion, but by 2018 it had increased to a nominal GDP of US$27 billion. With a population of 387,000, this is $55,000 per capita, based on purchasing power parity (PPP) estimates. The 2008–2011 Icelandic financial crisis produced a decline in GDP and employment that has since been reversed entirely by a recovery aided by a tourism boom starting in 2010. Tourism accounted for more than 10% of Iceland's GDP in 2017. After a period of robust growth, Iceland's economy is slowing down according to an economic outlook for the years 2018–2020 published by Arion Research in April 2018.
Hafnarfjörður, officially Hafnarfjarðarkaupstaður, is a port town and municipality in Iceland, located about 10 km (6 mi) south of Reykjavík. The municipality consists of two non-contiguous areas in the Capital Region, on the southwest coast of the country. At about 30,000 inhabitants, Hafnarfjörður is the third-most populous city in Iceland after Reykjavík and Kópavogur. It has established local industry and a variety of urban activities, with annual festival events.
Borgarnes is a town located on a peninsula at the shore of Borgarfjörður in Iceland and is the largest town in the Borgarbyggð municipality with a population of about 3800 residents. It is a main junction in Iceland and the gateway to the Snaefellsnes National Park. Iceland's capital Reykjavík is 69 kilometers from the center of Borgarnes. The second largest bridge in Iceland, the Borgarfjarðarbrú, connects traffic to and from Reykjavík.
Kárahnjúkar Hydropower Plant, officially called Fljótsdalur Power Station is a hydroelectric power plant in Fljótsdalshérað municipality in eastern Iceland, designed to produce 4,600 gigawatt-hours (17,000 TJ) annually for Alcoa's Fjarðaál aluminum smelter 75 kilometres (47 mi) to the east in Reyðarfjörður. With the installed capacity of 690 megawatts (930,000 hp), the plant is the largest power plant in Iceland. The project, named after the nearby Kárahnjúkar mountains, involves damming the rivers Jökulsá á Dal and Jökulsá í Fljótsdal with five dams, creating three reservoirs. Water from the reservoirs is diverted through 73 kilometres (45 mi) of underground water tunnels and down a 420-metre (1,380 ft) vertical penstock towards a single underground power station. The smelter became fully operational in 2008 and the hydropower project was completed in 2009.
The Icelandic Elf School is an organization located in Reykjavík, Iceland, that teaches visitors about Icelandic folklore. The organization teaches about the hidden people and thirteen types of elves, entities purported by the institution to reside within Iceland. The school's principal, Magnús Skarphéðinsson, states:
Hidden people are just the same size and look exactly like human beings, the only difference is that they are invisible to most of us. Elves, on the other hand, aren’t entirely human, they’re humanoid, starting at around eight centimeters.
Reyðarfjörður is a town in Iceland. It has a population of 1,350 and is one of the most populated villages that constitute the municipality of Fjarðabyggð.
Islam in Iceland is a minority religion. The Pew Research Center estimated that the number of Muslims in Iceland was below its 10,000 minimum threshold, and official statistics put the figure at under 1,300, or 0.33% out of the total population of 385,230.
Huldufólk or hidden people are elves in Icelandic and Faroese folklore. They are supernatural beings that live in nature. They look and behave similarly to humans, but live in a parallel world. They can make themselves visible at will. Konrad von Maurer cites a 19th-century Icelandic source claiming that the only visible difference between normal people and outwardly human-appearing huldufólk is, the latter have a convex rather than concave philtrum below their noses.
Iceland is a world leader in renewable energy. 100% of the electricity in Iceland's electricity grid is produced from renewable resources. In terms of total energy supply, 85% of the total primary energy supply in Iceland is derived from domestically produced renewable energy sources. Geothermal energy provided about 65% of primary energy in 2016, the share of hydropower was 20%, and the share of fossil fuels was 15%.
Although Iceland is reliant upon fishing, tourism and aluminium production as the mainstays of its economy, the production of vegetables and fruit in greenhouses is a growing sector. Until the 1960s, this included commercial production of bananas.
The 1986 Hvalur sinkings occurred in Iceland's Reykjavík harbour in November 1986, when anti-whaling activists from the Sea Shepherd Conservation Society sank the unoccupied whaling vessels, Hvalur 6 and Hvalur 7, and sabotaged a whale processing station in Hvalfjörður. The ships were two of the nation's fleet of four and were eventually raised, but have not gone on a whale hunt since and were dragged onto dry land. Repairs have still not yet been made to the ships some 36 years later. The factory was the country's only processing facility.
"Inní mér syngur vitleysingur" is the second track on Sigur Rós' fifth album, Með suð í eyrum við spilum endalaust. It is the first single from the album and was released on 8 September 2008.
The Reykjavík Mosque is a mosque and gathering area for Muslims in Iceland. It is located in the Ármúli district. The mosque was opened in 2002 by the Muslim Association of Iceland after requesting the city government for permission to build a purpose-built mosque in 2000, with no swift response.
Voltaïc is a 2009 compilation of material related to the 2007 album Volta by the Icelandic musician Björk. The full version of the release includes a CD of eleven songs performed live at the Olympic Studios, a DVD of Björk's live performances in Paris and Reykjavík during the Volta tour, a second DVD of the Volta music videos as well as videos of the top ten runners-up from the "Innocence" video contest, and a second CD of remixes from Volta's singles. The worldwide release date of all editions was 23 June 2009. The artwork was nominated for an award at the 2010 Brit Insurance Design Awards.
Antecedents and Causes of the Collapse of the Icelandic Banks in 2008 and Related Events, better known as The Report of the Investigation Commission of Althing, and earlier referred to as a 'White Book', is a report covering the background and the crash of the Icelandic banking system in 2008.
Canada and Iceland have longstanding foreign relations. Contact goes back over a thousand years, but formal diplomatic relations began in 1947. Both nations are members of the Arctic Council, NATO, OECD, and WTO. Additionally, Canada holds observer status in the Barents Euro-Arctic Council.
Iceland–Palestine relations refers to the bilateral relations between Iceland and Palestine. Iceland was the first Nordic country to recognise the independence of Palestine. Full diplomatic relations exist between the two sides. Iceland's representative to Palestine is a non-resident based at the Ministry for Foreign Affairs in Reykjavík, while Palestine's ambassador to Iceland is also a non-resident based in Oslo, Norway.
The Volta tour was a tour by the singer Björk that focused on her album, Volta. Overall, 48 songs were done on the tour focusing on many tracks from Debut through to Vespertine, though mostly from Medúlla and Volta, the former of which did not receive its own tour. The tour band consisted of drummer Chris Corsano, musician Mark Bell, pianist Jónas Sen, musician Damian Taylor and a 10 piece female Icelandic brass section. Many of the songs evolved considerably during the tour, including "Innocence" which was re-done so as to incorporate brass elements. Live performances of the track "Declare Independence" made heavy use of the ReacTable, an electro-acoustic music instrument with a tabletop Tangible User Interface, which is played by Damian Taylor. The Tenori-on was used heavily in performances of "Who Is It". A live DVD and CD of the Volta tour was released as part of Voltaïc. The tour was Björk's first in four years and saw her play countries that she had not played in over ten years.
Ingibjörg Stefanía Pálmadóttir is an Icelandic businesswoman, daughter of Pálmi Jónsson and so, with her three siblings, one of the inheritors of Pálmi's Hagkaup business.
Hugar are an Icelandic neo-classical post-rock duo, consisting of multi-instrumentalist composers Bergur Þórisson and Pétur Jónsson from Seltjarnarnes, Iceland.
