In 2007, Iceland was the seventh most productive country in the world per capita (US$54,858), and the fifth most productive by GDP at purchasing power parity ($40,112). Except for its abundant hydroelectric and geothermal power, Iceland lacks natural resources; historically its economy depended heavily on fishing, which still provides 40% of export earnings and employs 7% of the work force. The economy is vulnerable to declining fish stocks and drops in world prices for its main material exports: fish and fish products, aluminium, and ferrosilicon. Whaling in Iceland has been historically significant. Iceland still relies heavily on fishing, but its importance is diminishing from an export share of 90% in the 1960s to 40% in 2006.
Until the 20th century, Iceland was among the poorest countries in Western Europe. Currently, it remains one of the most developed countries in the world. Strong economic growth had led Iceland to be ranked first in the United Nations' Human Development Index report for 2007/2008, although as of 2011 its HDI rating had fallen to 14th place as a result of the economic crisis. Nevertheless, according to the Economist Intelligence Index of 2011, Iceland has the 2nd highest quality of life in the world. Based on the Gini coefficient, Iceland also has one of the lowest rates of income inequality in the world, and when adjusted for inequality, its HDI ranking climbs to 5th place. Iceland's unemployment rate has declined consistently since the crisis, with 4.8% of the labor force being unemployed as of June 2012, compared to 6% in 2011 and 8.1% in 2010.
Many political parties remain opposed to EU membership, primarily due to Icelanders' concern about losing control over their natural resources (particularly fisheries). The national currency of Iceland is the Icelandic króna (ISK). A poll released on 5 March 2010 by Capacent Gallup showed that 31% of respondents were in favour of adopting the euro and 69% opposed. Another Capacent
