Iceland

republicIndependence 17 June 1944 (from Denmark)

Iceland as the 1992 edition of the CIA World Factbook published it: 70 fields, one of 36 editions from 1990 to 2025.

field in that editiontext changed from the edition beforenot in that editionthe open editionEach field below ends in its editions, 1990 to 2025. Point at a year above to follow it down.

CapitalReykjavik

Area103,000 km2

Populationas each edition published it

259,012 people July 1992 · 257,023 in 1990

Population growth% a year

Not in this edition 0.88% in 1993

Median ageyears

Not in this edition 34 yrs in 2003

Life expectancyyears at birth

Not in this edition 78.69 yrs in 1993

Fertility ratechildren per woman

2.2 children per woman 1992 · 2.2 in 1990

Infant mortalitydeaths per 1,000 live births

4 deaths per 1,000 live births 1992 · 7 in 1990

GDP per capitaeach edition's own dollars

Not in this edition $17,400 in 1993

GDP real growth% a year

Not in this edition -3.3% in 1993

Geography

13 fields

Total area

103,000km2

Comparative area: slightly smaller than Kentucky

Coastline

4,988km

land boundaries: noneContinental shelf: edge of continental margin or 200 nmExclusive economic zone: 200 nmTerritorial sea: 12 nm

Disputes

Rockall continental shelf dispute involving Denmark, Ireland, and the UK (Ireland and the UK have signed a boundary agreement in the Rockall area)

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

Natural resources

fish, hydroelectric and geothermal power, diatomite

Land use

arable land NEGL%;
permanent crops 0%;
meadows and pastures 23%;
forest and woodland 1%;
other 76%

Environment

subject to earthquakes and volcanic activity

Note

strategic location between Greenland and Europe; westernmost European country

People

14 fields

Population

259,012

(July 1992), growth rate 0.9% (1992)

Per 1,000 population(1992)

Birth

18Death

7Net migration

-2

Religions(1988)

Evangelical Lutheran 96%other Protestant and Roman Catholic 3%none 1% (1988)

Literacy

100%

(male NA%, female NA%) age 15 and over can read and write (1976 est.)

Nationality

noun - Icelander(s); adjective - Icelandic

Ethnic divisions

homogeneous mixture of descendants of Norwegians and Celts

Labor force

134,429; commerce, finance, and services 55.4%, other manufacturing 14.3%., agriculture 5.8%, fish processing 7.9%, fishing 5.0% (1986)

Government

Republic

18 fields

23 counties (syslar, singular - sysla) and 14 independent towns* (kaupstadhir, singular - kaupstadhur); Akranes*, Akureyri*, Arnessysla, Austur-Bardhastrandarsysla, Austur-Hunavatnssysla, Austur-Skaftafellssysla, Borgarfjardharsysla, Dalasysla, Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*, Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*, Myrasysla, Neskaupstadhur*, Nordhur-Isafjardharsysla, Nordhur-Mulasys-la, Nordhur-Thingeyjarsysla, Olafsfjordhur*, Rangarvallasysla, Reykjavik*, Saudharkrokur*, Seydhisfjordhur*, Siglufjordhur*, Skagafjardharsysla, Snaefellsnes-og Hnappadalssysla, Strandasysla, Sudhur-Mulasysla, Sudhur-Thingeyjarsysla, Vesttmannaeyjar*, Vestur-Bardhastrandarsysla, Vestur-Hunavatnssysla, Vestur-Isafjardharsysla, Vestur-Skaftafellssysla

Independence

17 June 1944 (from Denmark)

Constitution

16 June 1944, effective 17 June 1944

Legal system

civil law system based on Danish law; does not accept compulsory ICJ jurisdiction

National holiday

Anniversary of the Establishment of the Republic, 17 June (1944)

Executive branch

president, prime minister, Cabinet

Legislative branch

unicameral Parliament (Althing)

Judicial branch

Supreme Court (Haestirettur)

Leaders

Chief of State:: President Vigdis FINNBOGADOTTIR (since 1 August 1980)
Head of Government:: Prime Minister David ODDSSON (since 30 April 1991)

Political parties and leaders

Independence Party (conservative), David ODDSSON;
Progressive Party, Steingrimur HERMANNSSON;
Social Democratic Party, Jon Baldvin HANNIBALSSON;
People's Alliance (left socialist), Olafur Ragnar GRIMSSON;
Citizens Party (conservative nationalist), Julius SOLNES;
Women's List

Suffrage

universal at age 20

Elections

President:: last held on 29 June 1980 (next scheduled for June 1992); results - there were no elections in 1984 and 1988 as President Vigdis FINNBOGADOTTIR was unopposed
Althing:: last held on 20 April 1991 (next to be held by April 1995);
results - Independence Party 38.6%, Progressive Party 18.9%, Social Democratic Party 15.5%, People's Alliance 14.4%, Womens List 8.13%, Liberals 1.2%, other 3.27% seats - (63 total) Independence 26, Progressive 13, Social Democratic 10, People's Alliance 9, Womens List 5

Member of

BIS, CCC, CE, CSCE, EBRD, ECE, EFTA, FAO, GATT, IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IFC, ILO, IMF, IMO, INTELSAT, INTERPOL, IOC, ISO (correspondent), ITU, LORCS, NACC, NATO, NC, NEA, NIB, OECD, PCA, UN, UNCTAD, UNESCO, UPU, WHO, WIPO, WMO

Diplomatic representation

Ambassador Tomas A. TOMASSON;
Chancery at 2022 Connecticut Avenue NW, Washington, DC 20008;
telephone (202) 265-6653 through 6655;
there is an Icelandic Consulate General in New York

US:: Ambassador Charles E. COBB, Jr.;
Embassy at Laufasvegur 21, Box 40, Reykjavik (mailing address is FPO AE 09728-0340);
telephone [354] (1) 29100

Flag

blue with a red cross outlined in white that extends 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

Iceland's prosperous Scandinavian-type economy is basically capitalistic, | but with extensive welfare measures, low unemployment, and comparatively | even distribution of income.

16 fields

Inflation, consumer prices

7.5%

(1991)

Unemployment rate

1.8%

(1991)

External debt

$3billion

(1990)

Budget

Revenues

$1.7 billionExpenditures

$1.9 billion

expenditures, including capital expenditures of $NA million (1991 est.)

Overview

Iceland's prosperous Scandinavian-type economy is basically capitalistic, but with extensive welfare measures, low unemployment, and comparatively even distribution of income. The economy is heavily dependent on the fishing industry, which provides nearly 75% of export earnings. In the absence of other natural resources, Iceland's economy is vulnerable to changing world fish prices.

The economic improvements resulting from climbing fish prices in 1990 and a noninflationary labor agreement probably will be reversed by tighter fish quotas and a delay in the construction of an aluminum smelting plant. The conservative government's economic priorities include reducing the budget and current account deficits, containing inflation, revising agricultural and fishing policies, diversifying the economy, and tying the krona to the EC's European currency unit in 1993.

The fishing industries - notably the shrimp industry - are experiencing a series of bankruptcies and mergers. Inflation has continued to drop sharply from 20% in 1989 to about 7.5% in 1991 and possibly 3% in 1992, while unemployment is expected to increase to 2.5%. GDP is expected to contract by nearly 4% in 1992.

GDP

purchasing power equivalent - $4.2 billion, per capita $16,200; real growth rate 0.3% (1991)

Exports

$1.6 billion (f.o.b., 1991)

commodities:: fish and fish products, animal products, aluminum, diatomite
partners:: EC 67.7% (UK 25.3%, FRG 12.7%), US 9.9%, Japan 6% (1990)

Imports

$1.7 billion (c.i.f., 1991)

commodities:: machinery and transportation equipment, petroleum, foodstuffs, textiles
partners:: EC 49.8% (FRG 12.4%, Denmark 8.6%, UK 8.1%), US 14.4%, Japan 5.6% (1990)

Industrial production

growth rate 1.75% (1991 est.)

Electricity

1,063,000 kW capacity; 5,165 million kWh produced, 20,780 kWh per capita (1991)

Industries

fish processing, aluminum smelting, ferro-silicon production, hydropower

Agriculture

accounts for about 25% of GDP (including fishing);
fishing is most important economic activity, contributing nearly 75% to export earnings;
principal crops - potatoes and turnips;
livestock - cattle, sheep;
self-sufficient in crops;
fish catch of about 1.4 million metric tons in 1989

Economic aid

US commitments, including Ex-Im (FY70-81), $19.1 million

Currency

krona (plural - kronur); 1 Icelandic krona (IKr) = 100 aurar

Exchange rates

Icelandic kronur (IKr) per US$1 - 57.277 (January 1992), 58.996 (1991), 58.284 (1990), 57.042 (1989), 43.014 (1988), 38.677 (1987)

Fiscal year

calendar year

Communications

6 fields

Merchant marine, 12 ships by typeone square, one ship

cargo 5refrigerated cargo 3roll-on/roll-off cargo 2petroleum tanker 1chemical tanker 112 ships (1,000 GRT or over) totaling 37,969 GRT/57,060 DWT

Airports, 94 total, 89 usable

permanent-surface runways

4runways | over 3,659 m

nonerunways 2,440-3,659 m

1runways 1,220-2,439 m

Highways

12,343 km total;
166 km bitumen and concrete;
1,284 km bituminous treated and gravel;
10,893 km earth

Ports

Reykjavik, Akureyri, Hafnarfjordhur, Keflavik, Seydhisfjordhur, Siglufjordhur, Vestmannaeyjar

Civil air

20 major transport aircraft

Telecommunications

adequate domestic service;
coaxial and fiber-optical cables and radio relay for trunk network;
135,000 telephones;
broadcast stations - 19 AM, 30 (43 repeaters) FM, 13 (132 repeaters) TV;
2 submarine cables;
1 Atlantic Ocean INTELSAT earth station carries majority of international traffic