Guide to Iceland Introduction Background: Settled by Norwegian and Celtic (Scottish and Irish) immigrants during the late 9th and 10th centuries A.D., Iceland boasts the world's oldest functioning legislative assembly, the Althing, established in 930. Independent for over 300 years, Iceland was subsequently ruled by Norway and Denmark. Fallout from the Askja volcano of 1875 devastated the Icelandic economy and caused widespread famine. Over the next quarter century, 20% of the island's population emigrated, mostly to Canada and the US. Limited home rule from Denmark was granted in 1874 and complete independence attained in 1944. Literacy, longevity, income, and social cohesion are first-rate by world standards.
Geography Location: Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK
Geographic coordinates: 65 00 N, 18 00 W
Map references: Arctic Region
Area: total
Area - comparative: slightly smaller than Kentucky
Land boundaries: 0 km
Coastline: 4,988 km
Maritime claims: territorial sea
Climate: temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers
Terrain: mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords
Elevation extremes: lowest point
Natural resources: fish, hydropower, geothermal power, diatomite
Land use: arable land
Irrigated land: NA sq km
Natural hazards: earthquakes and volcanic activity
Environment - current issues: water pollution from fertilizer runoff; inadequate wastewater treatment
Environment - international agreements: party to
Geography - note: strategic location between Greenland and Europe; westernmost European country; Reykjavik is the northernmost national capital in the world; more land covered by glaciers than in all of continental Europe
People Population: 296,737 (July 2005 est.)
Age structure: 0-14 years
Median age: total
Population growth rate: 0.91% (2005 est.)
Birth rate: 13.73 births/1,000 population (2005 est.)
Death rate: 6.68 deaths/1,000 population (2005 est.)
Net migration rate: 2.06 migrant(s)/1,000 population (2005 est.)
Sex ratio: at birth
Infant mortality rate: total
Life expectancy at birth: total population
Total fertility rate: 1.92 children born/woman (2005 est.)
HIV/AIDS - adult prevalence rate: 0.2% (2001 est.)
HIV/AIDS - people living with HIV/AIDS: 220 (2001 est.)
HIV/AIDS - deaths: less than 100 (2003 est.)
Nationality: noun
Ethnic groups: homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%
Religions: Lutheran Church of Iceland 85.5%, Reykjavik Free Church 2.1%, Roman Catholic Church 2%, Hafnarfjorour Free Church 1.5%, other Christian 2.7%, other or unspecified 3.8%, unaffiliated 2.4% (2004)
Languages: Icelandic, English, Nordic languages, German widely spoken
Literacy: definition
Government Country name: conventional long form
Government type: constitutional republic
Capital: Reykjavik
Administrative divisions: 8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland
Independence: 1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark)
National holiday: Independence Day, 17 June (1944)
Constitution: 16 June 1944, effective 17 June 1944; amended many times
Legal system: civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction
Suffrage: 18 years of age; universal
Executive branch: chief of state
Legislative branch: unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms) elections
Judicial branch: Supreme Court or Haestirettur (justices are appointed for life by the Minister of Justice); eight district courts (justices are appointed for life by the Minister of Justice)
Political parties and leaders: Independence Party or IP [David ODDSSON]; Left-Green Alliance or LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List) or SDA [Ingibjorg Solrun GISLADOTTIR]
Political pressure groups and leaders: NA
International organization participation: Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO
Diplomatic representation in the US: chief of mission
Diplomatic representation from the US: chief of mission
Flag description: blue with a red cross outlined in white extending to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)
Economy Economy - overview: Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system (including generous housing subsidies), low unemployment, and remarkably even distribution of income. In the absence of other natural resources (except for abundant geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 8% of the work force. The economy remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports
GDP (purchasing power parity): $9.373 billion (2004 est.)
GDP - real growth rate: 1.8% (2004 est.)
GDP - per capita: purchasing power parity - $31,900 (2004 est.)
GDP - composition by sector: agriculture
Labor force: 158,100 (2004 est.)
Labor force - by occupation: agriculture, fishing and fish processing 10.3%, industry 18.3%, services 71.4% (2003)
Unemployment rate: 3.1% (2004 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%
Inflation rate (consumer prices): 4% (2004 est.)
Investment (gross fixed): 23.8% of GDP (2004 est.)
Budget: revenues
Public debt: 35.9% of GDP (2004 est.)
Agriculture - products: potatoes, green vegetables, mutton, dairy products, fish
Industries: fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism
Industrial production growth rate: 8.8% (2004 est.)
Electricity - production: 8.271 billion kWh (2002)
Electricity - production by source: fossil fuel
Electricity - consumption: 7.692 billion kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 16,300 bbl/day (2001 est.)
Oil - exports: 0 bbl/day (2001)
Oil - imports: 15,470 bbl/day (2001)
Current account balance: $-570 million (2004 est.)
Exports: $2.902 billion f.o.b. (2004 est.)
Exports - commodities: fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite
Exports - partners: UK 19.1%, Germany 17.2%, Netherlands 11.5%, US 9.8%, Spain 6.8%, Denmark 4.6% (2004)
Imports: $3.307 billion (2004 est.)
Imports - commodities: machinery and equipment, petroleum products; foodstuffs, textiles
Imports - partners: Germany 12.3%, US 9.9%, Norway 9.7%, Denmark 7.9%, UK 7.2%, Sweden 6.7%, Netherlands 6% (2004)
Reserves of foreign exchange and gold: $935 million (2004)
Debt - external: $3.073 billion (2002)
Economic aid - donor: $NA
Currency (code): Icelandic krona (ISK)
Currency code: ISK
Exchange rates: Icelandic kronur per US dollar - 70.192 (2004), 76.709 (2003), 91.662 (2002), 97.425 (2001), 78.616 (2000)
Fiscal year: calendar year
Communications Telephones - main lines in use: 190,700 (2003)
Telephones - mobile cellular: 279,100 (2003)
Telephone system: general assessment
Radio broadcast stations: AM 3, FM about 70 (including repeaters), shortwave 1 (1998)
Radios: 260,000 (1997)
Television broadcast stations: 14 (plus 156 low-power repeaters) (1997)
Televisions: 98,000 (1997)
Internet country code: .is
Internet hosts: 122,175 (2004)
Internet Service Providers (ISPs): 20 (2001)
Internet users: 195,000 (2003)
Transportation Highways: total
Ports and harbors: Grundartangi, Hafnarfjordur, Hornafjordhur, Reykjavik, Seydhisfjordhur
Merchant marine: total
Airports: 98 (2004 est.)
Airports - with paved runways: total
Airports - with unpaved runways: total
Military Military branches: no regular armed forces; Icelandic National Police, Icelandic Coast Guard (Islenska Landhelgisgaeslan)
Manpower available for military service: males age 18-49
Manpower fit for military service: males age 18-49
Military expenditures - dollar figure: 0
Military - note: defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik
Transnational Issues Disputes - international: Iceland disputes Denmark's alignment of the Faroe Islands' fisheries median line; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Last updated: 20 October, 2005
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