Forgotten world (60): Iceland
Dominated for centuries by Norway and Denmark, Iceland became an independent republic in 1944. It only has a population of 292,000, but its citizens enjoy a standard of living among the highest in the world.
For many years, the country’s prosperity depended on the fishing industry. While fish still makes up a large proportion of exports, it now accounts for less than 10% of gross domestic product. The economy is developing in new areas, not least tourism. banking and finance.
American forces had been stationed in the country without a break since World War II, but the last US troops left in September 2006. Although it has no armed forces, it is a member of NATO and the US says it will continue to defend Iceland as a NATO ally. Iceland remains outside the European Union.