Iceland

Republic of IcelandLydveldid Island

constitutional republic

Iceland as the 2007 edition of the CIA World Factbook published it: 121 fields, one of 36 editions from 1990 to 2025.

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CapitalReykjavik, UTC
Position65 00 N, 18 00 W
Area103,000 sq km
LocationNorthern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK
2007

Every edition of Iceland

Populationas each edition published it
301,931 people July 2007 est. · 257,023 in 1990
Population growth% a year
0.824% 2007 est. · 0.88% in 1993
Median ageyears
34.5 years 2007 est. · 34 yrs in 2003
Life expectancyyears at birth
80.43 years 2007 est. · 78.69 yrs in 1993
Fertility ratechildren per woman
1.91 children per woman 2007 est. · 2.2 in 1990
Infant mortalitydeaths per 1,000 live births
3.27 deaths per 1,000 live births 2007 est. · 7 in 1990
GDP per capitaeach edition's own dollars
$38,000 2006 est. · $17,400 in 1993
GDP real growth% a year
2.6% 2006 est. · -3.3% in 1993

Introduction

1 field

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

Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK

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Land useshare of 103,000 sq km

permanent crops 0%other 99.93% (2005)arable land 0.07% in all
Area
103,000sq km
land: 100,250 sq kmwater: 2,750 sq kmslightly smaller than Kentucky
Coastline
4,970km
land boundaries: 0 kmterritorial sea: 12 nmexclusive economic zone: 200 nmcontinental shelf: 200 nm or to the edge of the continental margin
Highest point
2,110m
Hvannadalshnukur · (at Vatnajokull glacier)lowest point: Atlantic Ocean 0 m

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

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, hydropower, geothermal power, diatomite

Natural hazards

earthquakes and volcanic activity

Environment - current issues

water pollution from fertilizer runoff; inadequate wastewater treatment

Environment - international agreements

party to:
Air Pollution, Air Pollution-Persistent Organic Pollutants, 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, Whaling
signed, but not ratified:
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 fields

Age structuremale left, female right · (2007 est.)

16,162
65 and over11.8%
19,593
102,161
15-6466.8%
99,411
32,759
0-1421.4%
31,845
MaleFemale
Population
301,931
(July 2007 est.)growth rate: 0.824% (2007 est.)

Per 1,000 population(2007 est.)

Birth
13.57Death
6.77Net migration
1.43

Male · female

TotalMale · femaleLife expectancy years (2007 est.)80.43
78.33 · 82.62Infant mortality deaths/1,000 live births (2007 est.)3.27
3.41 · 3.12
TotalMale · femaleLiteracy (2003 est.)99%
99% · 99%Median age years (2007 est.)34.5
34 · 35
MaleFemaleLiteracy definition: age 15 and over can read and write

Religions(2004)

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)

Sex ratio

at birth:
1.04 male(s)/female
under 15 years:
1.029 male(s)/female
15-64 years:
1.028 male(s)/female
65 years and over:
0.825 male(s)/female
total population:
1.002 male(s)/female (2007 est.)

Total fertility rate

1.91 children born/woman (2007 est.)

HIV/AIDS - deaths

less than 100 (2003 est.)

Nationality

noun:
Icelander(s)
adjective:
Icelandic

Ethnic groups

homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%

Languages

Icelandic, English, Nordic languages, German widely spoken

Government

Constitutional republic; President Olafur Ragnar GRIMSSON (since 1 August 1996); Prime Minister Geir H. HAARDE (since 7 June 2006)

18 fields

Presidential electionpercent of vote

36.6%
Independence Party 36.6%Social Democratic Alliance 26.8%Progressive Party 11.7%Left-Green Movement 14.3%Liberal Party 7.3%other 3.3%last held 12 May 2007 (next to be held by May 2011)

Parliament or Althing, 63 seats, elected 12 May 2007one dot, one seat

Independence Party 25Social Democratic Alliance 18Progressive Party 7Left-Green Alliance 9Liberal Party 4

Percent of vote

Independence Party 36.6%Social Democratic Alliance 26.8%Progressive Party 11.7%Left-Green Movement 14.3%Liberal Party 7.3%other 3.3%

Country name

conventional long form:
Republic of Iceland
conventional short form:
Iceland
local long form:
Lydveldid Island
local short form:
Island

Government type

constitutional republic

Capital

name:
Reykjavik
geographic coordinates:
64 09 N, 21 57 W
time difference:
UTC (5 hours ahead of Washington, DC during Standard Time)

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

Suffrage

18 years of age; universal

Executive branch

chief of state:
President Olafur Ragnar GRIMSSON (since 1 August 1996)
head of government:
Prime Minister Geir H. HAARDE (since 7 June 2006)
cabinet:
Cabinet appointed by the prime minister
elections:
  • president, largely a ceremonial post, is elected by popular vote for a four-year term (no term limits);
  • election last held 26 June 2004 (next to be held in June 2008);
  • following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister
election results:
Olafur Ragnar GRIMSSON 85.6%, 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 12 May 2007 (next to be held by May 2011)
election results:
  • percent of vote by party - Independence Party 36.6%, Social Democratic Alliance 26.8%, Progressive Party 11.7%, Left-Green Movement 14.3%, Liberal Party 7.3%, other 3.3%;
  • seats by party - Independence Party 25, Social Democratic Alliance 18, Progressive Party 7, Left-Green Alliance 9, 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 [Geir H. HAARDE];
  • Left-Green Movement or LGM [Steingrimur SIGFUSSON];
  • Liberal Party or LP [Gudjon KRISTJANSSON];
  • Progressive Party or PP [Gudni AGUSTSSON];
  • Social Democratic Alliance or SDA [Ingibjorg Solrun GISLADOTTIR] (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List)

International organization participation

Arctic Council, Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, ITUC, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO

Diplomatic representation in the US

chief of mission:
Ambassador Albert JONSSON
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 Carol VAN VOORST
embassy:
Laufasvegur 21, 101 Reykjavik
mailing address:
US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640
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.

45 fields
GDP, purchasing power parity
$11.38billion
(2006 est.)official exchange rate: $13.71 billion (2006 est.)
GDP per capita, PPP
$38,000
(2006 est.)
Real growth rate
2.6%
(2006 est.)industrial production growth: 5% (2006 est.)

GDP - composition by sector(2006 est.)

agriculture 5.6%industry 25%services 69.4% (2006 est.)

Trading partnersexports left, imports right

16.5%
Netherlands
4.8%
15.7%
UK
5.3%
15%
Germany
12.3%
10.8%
US
12.8%
Norway
7.1%
Sweden
6.9%
6.4%
Spain
Denmark
6.1%
China
5.3%
Japan
4.1%
Exports $3.477 billion f.o.b. (2006 est.)Imports $5.716 billion (2006 est.)(2006)

Budget

Revenues
$7.603 billionExpenditures
$6.737 billion (2006 est.)

Electricity

Electricity production
8.533 billion (2005)Electricity consumption
8.152 billion (2005)

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 nearly 70% of export earnings and employs 6% 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 current account deficit, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, and diversifying the economy.

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. Since 2000 growth has varied from -1% in 2002 to 8% in 2004. The 2006 closure of the US military base at Keflavik had very little impact on the national economy; Iceland's low unemployment rate aided former base employees in finding alternate employment.

Labor force

175,000 (2006 est.)

Labor force - by occupation

agriculture:
5.1%
industry:
23%
services:
71.4% (2005)

Unemployment rate

1.3% (2006 est.)

Investment (gross fixed)

32% of GDP (2006 est.)

Public debt

31.5% of GDP (2006 est.)

Agriculture - products

  • potatoes, green vegetables;
  • mutton, dairy products;
  • fish

Industries

  • fish processing;
  • aluminum smelting, ferrosilicon production;
  • geothermal power, tourism

Oil - production

0 bbl/day (2004 est.)

Oil - consumption

20,560 bbl/day (2004 est.)

Oil - exports

0 bbl/day (2004)

Oil - imports

17,450 bbl/day (2004)

Oil - proved reserves

0 bbl (1 January 2006)

Natural gas - production

0 cu m (2005 est.)

Natural gas - consumption

0 cu m (2005 est.)

Current account balance

$-4.456 billion (2006 est.)

Exports

$3.477 billion f.o.b. (2006 est.)

Exports - commodities

fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite

Imports

$5.716 billion (2006 est.)

Imports - commodities

machinery and equipment, petroleum products, foodstuffs, textiles

Economic aid - donor

$6.7 million (2004)

Reserves of foreign exchange and gold

$2.342 billion (2006 est.)

Debt - external

$3.073 billion (2002)

Currency (code)

Icelandic krona (ISK)

Exchange rates

Icelandic kronur per US dollar - 70.195 (2006), 62.982 (2005), 70.192 (2004), 76.709 (2003), 91.662 (2002)

Fiscal year

calendar year

Communications

8 fields
Mobile cellular
328,500
(2006)
Internet users
270,942
(2007)
Fixed lines
193,700
(2006) · country code .is

Telephone system

general assessment:
telecommunications infrastructure is modern and fully digitized, with satellite-earth stations, fiber-optic cables, and an extensive broadband network
domestic:
liberalization of the telecommunications sector beginning in the late 1990s has led to increased competition especially in the mobile services segment of the market
international:
  • country code - 354;
  • the CANTAT-3 and FARICE-1 submarine cable systems provide connectivity to Canada, the Faroe Islands, UK, Denmark, and Germany;
  • a planned new section of the Hibernia-Atlantic submarine cable will provide additional connectivity to Canada, US, and Ireland;
  • 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)

Radio broadcast stations

AM 3, FM about 70 (including repeaters), shortwave 1 (1998)

Television broadcast stations

14 (plus 156 repeaters) (1997)

Internet users

194,000 (2006)

Transportation

6 fields

Airports by runway lengthpaved left, unpaved right

1
over 3,047 m
3
1,524 to 2,437 m
3
1
914 to 1,523 m
28
under 914 m
63
Paved 5Unpaved 94

Airports

99 (2007)

Roadways

total:
13,028 km
paved/oiled gravel:
4,241 km (does not include urban roads)
unpaved:
8,787 km (2005)

Merchant marine

total:
2 ships (1000 GRT or over) 4,704 GRT/729 DWT
by type:
passenger/cargo 2
registered in other countries:
41 (Antigua and Barbuda 9, Bahamas 1, Belize 1, Faroe Islands 4, Gibraltar 1, Malta 7, Norway 3, St Vincent and The Grenadines 15) (2007)

Ports and terminals

Grundartangi, Hafnarfjordur, Hornafjordhur, Reykjavik, Seydhisfjordhur

Military

No regular military forces; Icelandic National Police (2006)

5 fields

Military branches

no regular military forces; Icelandic National Police (2006)

Manpower available for military service

males age 18-49: 69,038 (2005 est.)

Manpower fit for military service

males age 18-49: 56,777 (2005 est.)

Military - note

  • under a 1951 bilateral agreement, Iceland's defense was provided by a US-manned Icelandic Defense Force (IDF) headquartered in Keflavik;
  • in October 2006, all US military forces in Iceland were withdrawn;
  • nonetheless, the US and Iceland signed a Joint Understanding to strengthen their bilateral defense relationship, including regular security consultations, military communications in the event of national emergencies, annual bilateral exercises on Icelandic territory, and future bilateral and NATO support to four Iceland Air Defense System (IADS) radar sites

Transnational Issues

1 field

Disputes - international

Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm

Central Intelligence Agency. “Iceland.” The World Factbook 2007. Archived by The Factbook, thefactbook.org/iceland/2007.

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