Iceland
Republic of IcelandLydhveldidh Island
constitutional republic
Iceland as the 2004 edition of the CIA World Factbook published it: 115 fields, one of 36 editions from 1990 to 2025.
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Introduction
1 fieldBackground
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
Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK
18 fieldsLand useshare of 103,000 sq km
Location
Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK
Terrain
mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords
Environment - international agreements
- party to:
- Air Pollution, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Kyoto Protocol, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Transboundary Air Pollution, Wetlands
- signed, but not ratified:
- Air Pollution-Persistent Organic Pollutants, Environmental Modification, Marine Life Conservation
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
19 fieldsPer 1,000 population(2004 est.)
Male · female(2004 est.)
Religions(2002)
Age structure
- 0-14 years:
- 22.5% (male 33,522; female 32,489)
- 15-64 years:
- 65.8% (male 98,091; female 95,450)
- 65 years and over:
- 11.7% (male 15,552; female 18,862) (2004 est.)
Sex ratio
- at birth:
- 1.04 male(s)/female
- under 15 years:
- 1.03 male(s)/female
- 15-64 years:
- 1.03 male(s)/female
- 65 years and over:
- 0.83 male(s)/female
- total population:
- 1 male(s)/female (2004 est.)
Ethnic groups
homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%
Literacy
- definition:
- age 15 and over can read and write
- total population:
- 99.9% (1997 est.)
- male:
- NA
- female:
- NA
Government
Constitutional republic; President Olafur Ragnar GRIMSSON (since 1 August 1996); Prime Minister Halldor ASGRIMSSON (since 15 September 2004)
18 fieldsPresidential electionpercent of vote
Parliament or Althing, 63 seats, elected 10 May 2003one dot, one seat
Percent of vote
Country name
- conventional long form:
- Republic of Iceland
- conventional short form:
- Iceland
- local long form:
- Lydhveldidh Island
- local short form:
- Island
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)
Executive branch
- chief of state:
- President Olafur Ragnar GRIMSSON (since 1 August 1996)
- head of government:
- Prime Minister Halldor ASGRIMSSON (since 15 September 2004);
- note - Former Prime Minister David ODDSSON switched positions with former Foreign Minister Halldor ASGRIMMSON
- cabinet:
- Cabinet appointed by the prime minister and approved by Parliament
- elections:
- president, which is largely a ceremonial post, elected by popular vote for a four-year term;
- election last held 26 June 2004 (next to be held June 2008);
- prime minister appointed by the president
- election results:
- Olafur Ragnar GRIMSSON wins with 85.6% of the vote, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%
Legislative branch
unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)
- elections:
- last held 10 May 2003 (next to be held by May 2007)
- election results:
- percent of vote by party - Independence Party 33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%, Left-Green Alliance 8.8%, Liberal Party 7.4%;
- seats by party - Independence Party 22, Social Democratic Alliance 20, Progressive Party 12, Left-Green Alliance 5, Liberal Party 4
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 [Ossur SKARPHEDINSSON]
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:
- Ambassador Helgi AGUSTSSON
- chancery:
- Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704
- telephone:
- [1] (202) 265-6653
- FAX:
- [1] (202) 265-6656
- consulate(s) general:
- New York
Diplomatic representation from the US
- chief of mission:
- Ambassador James I. GADSDEN
- embassy:
- Laufasvegur 21, 101 Reykjavik
- mailing address:
- US Embassy, PSC 1003, Box 40, FPO AE 09728-0340
- telephone:
- [354] 562-9100
- FAX:
- [354] 562-9118
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
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.
39 fieldsGDP - composition by sector(2003 est.)
Trading partnersexports left, imports right
Electricity
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 12% of the work force.
The economy remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Government policies include reducing the budget and current account deficits, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, diversifying the economy, and privatizing state-owned industries.
The government remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their fishing resources. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, and new developments in software production, biotechnology, and financial services are taking place.
The tourism sector is also expanding, with the recent trends in ecotourism and whale watching. Growth had been remarkably steady in 1996-2001 at 3%-5%, but could not be sustained in 2002 in an environment of global recession. Growth resumed in 2003, and inflation dropped back from 5% to 2%.
Labor force - by occupation
agriculture 5.1%, fishing and fish processing 11.8%, manufacturing 12.9%, construction 10.7%, services 59.5% (1999)
Exchange rates
Icelandic kronur per US dollar - 76.709 (2003), 91.6617 (2002), 97.4246 (2001), 78.6159 (2000), 72.3353 (1999)
Communications
8 fieldsTelephone system
- general assessment:
- extensive domestic service
- domestic:
- the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links
- international:
- country code - 354;
- satellite earth stations - 2 Intelsat (Atlantic Ocean), 1 Inmarsat (Atlantic and Indian Ocean regions);
- note - Iceland shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Norway, and Sweden)
Transportation
6 fieldsAirports by runway lengthpaved left, unpaved right
Ports and harbors
Akureyri, Hornafjordhur, Isafjordhur, Keflavik, Raufarhofn, Reykjavik, Seydhisfjordhur, Straumsvik, Vesttmannaeyjar
Merchant marine
- total:
- 1 ships (1,000 GRT or over) 4,341 GRT/6,019 DWT
- by type:
- petroleum tanker 1
- registered in other countries:
- 26 (2004 est.)
Military
No regular armed forces; Police, Coast Guard
5 fieldsMilitary - note
defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik
Transnational Issues
1 fieldDisputes - international
- Rockall continental shelf dispute involving Denmark, Iceland, and the UK (Ireland and the UK have signed a boundary agreement in the Rockall area) remains dormant;
- dispute with Denmark over the Faroe Islands' fisheries median line boundary within 200 nm;
- disputes with Denmark, the UK, and Ireland over the Faroe Islands continental shelf boundary outside 200 nm
Cite this entry
Central Intelligence Agency. “Iceland.” The World Factbook 2004. Archived by The Factbook, thefactbook.org/iceland/2004.