Map of Iceland | Geography | People | Government | Economy | Energy | Communication
Military | Transportation | Transnational Issues | Year: Guide198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024 | More stats

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Background: Iceland boasts the oldest surviving parliament in the world, the Althing, established in 930. Subsequently this Nordic island, whose small population has largely depended on fishing and sheep-herding for a living, came under the rule of Norway and then Denmark. It gained home rule in 1874 and full independence in 1944. Literacy, longevity, and social cohesion are topnotch by world standards. Tensions continue with Norway, Russia, and other nearby countries over fishing rights in the North Atlantic and adjacent seas.


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Location

Geographic coordinates

Map reference

Area
Total: 103,000 km²
Land: 100,250 km²
Comparative: slightly smaller than Kentucky

Land boundaries: none

Coastline: 4,988 km

Maritime claims
Continental shelf: edge of continental margin or 200 nm
Exclusive economic zone: 200 nm
Territorial sea: 12 nm
Disputes:

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

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%

Irrigated land

Major rivers

Major watersheds area km²

Total water withdrawal

Total renewable water resources

Natural hazards

Geography


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Population: 259,012 (July 1992), growth rate 0.9% (1992)

Nationality: noun - Icelander(s; adjective - Icelandic

Ethnic groups:

Languages: Icelandic

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

Demographic profile

Age structure

Dependency ratios

Median age

Population growth rate

Birth rate: 18 births/1000 population (1992)

Death rate: 7 deaths/1000 population (1992)

Net migration rate: -2 migrants/1000 population (1992)

Population distribution

Urbanization

Major urban areas

Environment
Current issues: subject to earthquakes and volcanic activity
Current issues note:

Air pollutants

Sex ratio

Mothers mean age at first birth

Maternal mortality ratio

Infant mortality rate: 4 deaths/1000 live births (1992)

Life expectancy at birth: 76 years male, 81 years female (1992)

Total fertility rate: 2.2 children born/woman (1992)

Contraceptive prevalence rate

Drinking water source

Current health expenditure

Physicians density

Hospital bed density

Sanitation facility access

Hiv/Aids

Major infectious diseases

Obesity adult prevalence rate

Alcohol consumption

Tobacco use

Children under the age of 5 years underweight

Education expenditures

Literacy: 100% (male NA%, female NA%) age 15 and over can read and write (1976 est.)

School life expectancy primary to tertiary education

Youth unemployment


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Country name
Conventional long form: Republic of Iceland

Government type: republic

Capital: Reykjavik

Administrative divisions:

Dependent areas

Independence: 17 June 1944 (from Denmark)

National holiday:

Constitution: 16 June 1944, effective 17 June 1944

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

International law organization participation

Citizenship

Suffrage: universal at age 20
President:
Althing:

Executive branch: president, prime minister, Cabinet

Legislative branch: unicameral Parliament (Althing)

Judicial branch: Supreme Court (Haestirettur)

Political parties and leaders

International organization participation:
Diplomatic representation: Ambassador Tomas A. TOMASSON; Chancery at 2022 Connecticut Avenue NW, Washington, DC 20,008; telephone (202) 265-6,653 through 6,655; there is an Icelandic Consulate General in New York
US:

Diplomatic representation

Flag description: 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)

National symbols

National anthem

National heritage


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Economy 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)

Real gdp purchasing power parity

Real gdp growth rate

Real gdp per capita

Gross national saving

Gdp composition by end use

Gdp composition by sector of origin

Agriculture products: 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

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

Industrial production growth rate: growth rate 1.75% (1991 est.)

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)
Organized labor: 60% of labor force

Unemployment rate: 1.8% (1991)

Youth unemployment

Population below poverty line

Gini index

Household income or consumption by percentage share

Distribution of family income gini index

Budget: revenues $1.7 billion; expenditures $1.9 billion, including capital expenditures of $NA million (1991 est.)

Taxes and other revenues

Public debt

Revenue

Fiscal year: calendar year

Inflation rate consumer prices

Central bank discount rate

Commercial bank prime lending rate

Stock of narrow money

Stock of broad money

Stock of domestic credit

Market value of publicly traded shares

Current account balance

Exports: $1.6 billion (f.o.b., 1991)
Commodoties: 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)
Commodoties: 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)

Reserves of foreign exchange and gold

Debt external

Stock of direct foreign investment at home

Stock of direct foreign investment abroad

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)


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

Coal

Petroleum

Crude oil

Refined petroleum

Natural gas

Carbon dioxide emissions

Energy consumption per capita


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Telephones

Telephone system

Broadcast media

Internet

Broadband fixed subscriptions


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Military expenditures
Percent of gdp: none

Military and security forces

Military service age and obligation

Space program

Terrorist groups


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National air transport system

Civil aircraft registration country code prefix

Airports:

Heliports

Pipelines

Railways

Roadways

Waterways

Merchant marine:
Civil air: 20 major transport aircraft

Ports and terminals


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Disputes international

Refugees and internally displaced persons

Illicit drugs