Map of Iceland | Geography | People | Government | Economy | Energy | Communication
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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. The second half of the 20th century saw substantial economic growth driven primarily by the fishing industry. The economy diversified greatly after the country joined the European Economic Area in 1994 but Iceland was especially hard hit by the global financial crisis in the years following 2008. Literacy longevity and social cohesion are first rate by world standards.


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Location: Northern Europe island between the Greenland Sea and the North Atlantic Ocean northwest of the United Kingdom

Geographic coordinates: 65 00 N 18 00 W

Map reference: Europe

Area
Total: 103,000 km²
Rank: 108
Land: 100,250 km²
Water: 2,750 km²
Comparative: slightly smaller than Kentucky

Land boundaries: 0 km

Coastline: 4,970 km

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

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: Atlantic Ocean 0 m
Extremes highest point: Hvannadalshnukur 2,110 m (at Vatnajokull glacier)

Natural resources: fish hydropower geothermal power diatomite

Land use
Arable land: 0.07%
Permanent crops: 0%
Other: 99.93% (2005)

Irrigated land: NA

Major rivers

Major watersheds area km²

Total water withdrawal

Total renewable water resources: 170 km³ (2005)

Natural hazards: earthquakes and volcanic activity
Volcanism: Iceland situated on top of a hotspot experiences severe volcanic activity; Eyjafjallajokull (elev. 1666 m) erupted in 2010 sending ash high into the atmosphere and seriously disrupting European air traffic; scientists continue to monitor nearby Katla (elev. 1512 m) which has a high probability of eruption in the very near future potentially disrupting air traffic; Grimsvoetn and Hekla are Iceland's most frequently active volcanoes; other historically active volcanoes include Askja Bardarbunga Brennisteinsfjoll Esjufjoll Hengill Krafla Krisuvik Kverkfjoll Oraefajokull Reykjanes Torfajokull and Vestmannaeyjar

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


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Population: 311,058 (July 2011 est.)
Rank: 179
Growth rate: 0.687% (2011 est.)
Growth rate rank: 140
Below poverty line: NA%

Nationality
Noun: Icelander
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

Religions: Lutheran Church of Iceland (official) 80.7% Roman Catholic 2.5% Reykjavik Free Church 2.4% Hafnarfjorour Free Church 1.6% other religions 3.6% unaffiliated 3% other or unspecified 6.2% (2006 est.)

Demographic profile

Age structure
0-14 years: 20.2%
15-64 years: 67.1% (male 105,541/female 103,202)
65 years and over: 12.7% (male 17,974/female 21,378) (2011 est.)

Dependency ratios

Median age
Total: 35.6 years
Male: 35.2 years
Female: 36.1 years (2011 est.)

Population growth rate: 0.687% (2011 est.)
Rank: 140

Birth rate: 13.29 births/1000 population (2011 est.)
Rank: 151

Death rate: 6.96 deaths/1000 population (July 2011 est.)
Rank: 136

Net migration rate: 0.53 migrant(s)/1000 population (2011 est.)
Rank: 63

Population distribution

Urbanization
Urban population: 93% of total population
Rate of urbanization: 1.5% annual rate of change (2010-15 est.)

Major urban areas

Environment
Current issues: water pollution from fertilizer runoff; inadequate wastewater treatment
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
International agreements signed but not ratified: Environmental Modification Marine Life Conservation

Air pollutants

Sex ratio
At birth: 1.04 male/female
Under 15 years: 1.03 male(s)/female
15-64 years: 1.02 male(s)/female
65 years and over: 0.83 male(s)/female
Total population: 1 male(s)/female (2011 est.)

Mothers mean age at first birth

Maternal mortality ratio

Infant mortality rate
Total: 3.2 deaths/1000 live births
Rank: 215
Male: 3.34 deaths/1000 live births
Female: 3.05 deaths/1000 live births (2011 est.)

Life expectancy at birth
Total population: 80.9 years
Rank: 18
Male: 78.72 years
Female: 83.17 years (2011 est.)

Total fertility rate: 1.89 children born/woman (2011 est.)
Rank: 141

Contraceptive prevalence rate

Drinking water source:

Current health expenditure

Physicians density: 3.934 physicians/1000 population (2008)
Rank: 13

Hospital bed density: 5.79 beds/1000 population (2007)
Rank: 29

Sanitation facility access:

Hiv/Aids
Adult prevalence rate: 0.3% (2009 est.)
Adult prevalence rate rank: 85
People living with hivaids: fewer than 1000 (2009 est.)
People living with hivaids rank: 142
Deaths: fewer than 100 (2009 est.)
Deaths rank: 136

Major infectious diseases

Obesity adult prevalence rate: 12.4% (2002)
Rank: 46

Alcohol consumption

Tobacco use

Children under the age of 5 years underweight

Education expenditures: 7.4% of GDP (2007)
Rank: 14

Literacy
Definition: age 15 and over can read and write
Total population: 99%
Male: 99%
Female: 99% (2003 est.)

School life expectancy primary to tertiary education
Total: 18 years
Male: 17 years
Female: 20 years (2008)

Youth unemployment


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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 0 (5 hours ahead of Washington DC during Standard Time)

Administrative divisions: 8 regions; Austurland Hofudhborgarsvaedhi Nordhurland Eystra Nordhurland Vestra Sudhurland Sudhurnes Vestfirdhir Vesturland

Dependent areas

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 influenced by the Danish model

International law organization participation: has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction

Citizenship

Suffrage: 18 years of age; universal

Executive branch
Chief of state: President Olafur Ragnar GRIMSSON
Head of government: Prime Minister Johanna SIGURDARDOTTIR (since 1 February 2009)
Cabinet: Cabinet appointed by the prime minister
Elections: president is elected by popular vote for a four-year term (no term limits); election last held on 28 June 2004 (next to be held in June 2012); note - the presidential election of 28 June 2008 was not held because Olafur Ragnar GRIMSSON had no challengers; he was sworn in on 1 August 2008; following legislative elections the leader of the majority party or the leader of the majority coalition usually the prime minister
Election results: Olafur Ragnar GRIMSSON elected president; percent of vote - Olafur Ragnar GRIMSSON 85.6% Baldur AGUSTSSON 12.5% Astthor MAGNUSSON 1.9%

Legislative branch: unicameral Althingi (parliament) (63 seats; members elected by popular vote to serve four-year terms)
Elections: last held on 25 April 2009 (next to be held in 2013)
Election results: percent of vote by party - Social Democratic Alliance 29.8% Independence Party 23.7% Left-Green Movement 21.7% Progressive Party 14.8% Citizens' Movement 7.2% other 2.8%; seats by party - Social Democratic Alliance 20 Independence Party 16 Left-Green Alliance 14 Progressive Party 9 Citizens' Movement 4
Note: the Citizens' Movement disintegrated in September 2009; three of its former MPs are now represented under the banner of The Movement and the fourth former MP is an independent

Judicial branch: Supreme Court or Haestirettur (justices are appointed for life by the president); eight district courts (justices are appointed for life by the president)

Political parties and leaders: Independence Party or IP [Bjarni BENEDIKTSSON]; Left-Green Movement or LGM [Steingrimur SIGFUSSON]; The Liberal Party [Sigurjon THORDARSON]; The Movement [Birgitta JONSDOTTIR]; Progressive Party or PP [Sigmundur David GUNNLAUGSSON]; Social Democratic Alliance or SDA [Johanna SIGURDARDOTTIR]

International organization participation: Arctic Council Australia Group BIS CBSS CE EAPC EBRD EFTA EU (candidate country) FAO FATF IAEA IBRD ICAO ICC ICRM IDA IFAD IFC IFRCS IHO ILO IMF IMO IMSO Interpol IOC IPU ISO ITSO ITU ITUC MIGA NATO NC NEA NIB NSG OAS (observer) OECD OPCW OSCE PCA Schengen Convention UN UNCTAD UNESCO UPU WCO WHO WIPO WMO WTO

Diplomatic representation
In the us chief of mission: Ambassador Gudmundur A. STEFANSSON
In the us chancery: House of Sweden 2,900 K Street NW #509 Washington DC 20,007
In the us telephone: [1] (202) 265-6,653
In the us fax: [1] (202) 265-6,656
In the us consulate general: New York
From the us chief of mission: Ambassador Luis E. ARREAGA
From the us embassy: Laufasvegur 21 101 Reykjavik
From the us mailing address: US Department of State 5,640 Reykjavik Place Washington D.C. 20,521-5,640
From the us telephone: [354] 562-9,100
From the us fax: [354] 562-9,118

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); the colors represent three of the elements that make up the island: red is for the island's volcanic fires white recalls the snow and ice fields of the island and blue is for the surrounding ocean

National symbols: gyrfalcon

National anthem
Name: 'Lofsongur'
Lyricsmusic: Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON
Note: adopted 1944; the anthem also known as 'O Guo vors Lands' (O God of Our Land) was originally written and performed in 1874

National heritage


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Economy overview: Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system. Prior to the 2008 crisis Iceland had achieved high growth low unemployment and a remarkably even distribution of income. The economy depends heavily on the fishing industry which provides 40% of export earnings more than 12% of GDP and employs 7% of the work force. It 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. Iceland's economy has been diversifying into manufacturing and service industries in the last decade particularly within the fields of software production biotechnology and tourism. Abundant geothermal and hydropower sources have attracted substantial foreign investment in the aluminum sector and boosted economic growth although the financial crisis has put several investment projects on hold. Much of Iceland's economic growth in recent years came as the result of a boom in domestic demand following the rapid expansion of the country's financial sector. Domestic banks expanded aggressively in foreign markets and consumers and businesses borrowed heavily in foreign currencies following the privatization of the banking sector in the early 2000s. Worsening global financial conditions throughout 2008 resulted in a sharp depreciation of the krona vis-a-vis other major currencies. The foreign exposure of Icelandic banks whose loans and other assets totaled more than 10 times the country's GDP became unsustainable. Iceland's three largest banks collapsed in late 2008. The country secured over $10 billion in loans from the IMF and other countries to stabilize its currency and financial sector and to back government guarantees for foreign deposits in Icelandic banks. GDP fell 6.8% in 2009 and unemployment peaked at 9.4% in February 2009. GDP fell 3.4% in 2010. Since the collapse of Iceland's financial sector government economic priorities have included: stabilizing the krona reducing Iceland's high budget deficit containing inflation restructuring the financial sector and diversifying the economy. Three new banks were established to take over the domestic assets of the collapsed banks. Two of them have foreign majority ownership while the State holds a majority of the shares of the third. British and Dutch authorities have pressed claims totaling over $5 billion against Iceland to compensate their citizens for losses suffered on deposits held in the failed Icelandic bank Landsbanki Islands. Iceland agreed to new terms with the UK and the Netherlands to compensate British and Dutch depositors but the agreement must first be approved by the Icelandic President. Iceland began accession negotiations with the EU in July 2010; however public support has dropped substantially because of concern about losing control over fishing resources and in reaction to measures taken by Brussels during the ongoing Eurozone crisis.

Real gdp purchasing power parity:
Rank: 145
Note: data are in 2010 US dollars

Real gdp growth rate:
Rank: 209

Real gdp per capita:
Rank: 25
Note: data are in 2010 US dollars

Gross national saving

Gdp composition by end use

Gdp composition by sector of origin
Agriculture: 5.5%
Industry: 24.7%
Services: 69.8% (2010 est.)

Agriculture products: potatoes green vegetables; mutton chicken pork beef dairy products; fish

Industries: fish processing; aluminum smelting ferrosilicon production; geothermal power hydropower tourism

Industrial production growth rate: -1% (2010 est.)
Rank: 152

Labor force: 181,000 (2010 est.)
Rank: 174
By occupation agriculture: 4.8%
By occupation industry: 22.2%
By occupation services: 73% (2008)

Unemployment rate: 8% (2009 est.)
Rank: 94

Youth unemployment

Population below poverty line: NA%

Gini index

Household income or consumption by percentage share
Lowest 10: NA%
Highest 10: NA%

Distribution of family income gini index: 25 (2005)
Rank: 126

Budget
Revenues: $5.322 billion
Expenditures: $6.302 billion (2010 est.)
Surplus or deficit: -7.8% of GDP (2010 est.)
Surplus or deficit rank: 184

Taxes and other revenues: 42.3% of GDP (2010 est.)
Rank: 34

Public debt: 114.9% of GDP (2009 est.)
Rank: 6

Revenue

Fiscal year

Inflation rate consumer prices: 12% (2009 est.)
Rank: 154

Central bank discount rate: 14.55% (31 December 2009 est.)
Rank: 16

Commercial bank prime lending rate: 19% (31 December 2009 est.)
Rank: 29

Stock of narrow money: $4.384 billion (31 December 2009 est.)
Rank: 88

Stock of broad money: $24.01 billion (31 December 2009 est.)
Rank: 74

Stock of domestic credit: $54.05 billion (31 December 2009 est.)
Rank: 57

Market value of publicly traded shares:
Rank: 103

Current account balance: -$1.436 billion (2009 est.)
Rank: 130

Exports: $4.05 billion (2009 est.)
Rank: 111
Commodities: fish and fish products 40% aluminum animal products ferrosilicon diatomite
Partners: Netherlands 33.9% Germany 14.1% UK 10.1% Spain 4.7% US 4.5% Norway 4.3% (2010)

Imports: $3.318 billion (2009 est.)
Rank: 131
Commodities: machinery and equipment petroleum products foodstuffs textiles
Partners: Norway 9% Brazil 8.7% Netherlands 8.5% US 8.1% Germany 7.5% Denmark 7% China 6% Finland 5.4% Sweden 5.2% UK 5.1% (2010)

Reserves of foreign exchange and gold: $3.883 billion (31 December 2009 est.)
Rank: 83

Debt external: $124.5 billion (30 June 2011)
Rank: 36

Stock of direct foreign investment at home:

Stock of direct foreign investment abroad:

Exchange rates:


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Electricity
Production: 16.48 billion kWh (2009 est.)
Production rank: 76
Consumption: 16.48 billion kWh (2009 est.)
Consumption rank: 74
Exports: 0 kWh (2009 est.)
Imports: 0 kWh (2009 est.)

Coal

Petroleum

Crude oil

Refined petroleum

Natural gas
Production: 0 m³ (2010 est.)
Production rank: 197
Consumption: 0 m³ (2010 est.)
Consumption rank: 189
Exports: 0 m³ (2010 est.)
Exports rank: 114
Imports: 0 m³ (2010 est.)
Imports rank: 134
Proven reserves: 0 m³ (1 January 2011 est.)
Proven reserves rank: 149

Carbon dioxide emissions

Energy consumption per capita


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Telephones
Main lines in use: 204,000 (2010)
Main lines in use rank: 127
Mobile cellular: 348,100 (2010)
Mobile cellular rank: 173

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)

Broadcast media: state-owned public television broadcaster operates 1 TV channel nationally; several privately-owned TV stations broadcast nationally and roughly another half-dozen operate locally; about half the households utilize multi-channel cable or satellite TV services; state-owned public radio broadcaster operates 2 national networks and 4 regional stations; 2 privately-owned radio stations operate nationally and another 15 provide more limited coverage (2007)

Internet
Country code: .is
Hosts: 344,748 (2010)
Hosts rank: 55
Users: 301,600 (2009)
Users rank: 129

Broadband fixed subscriptions


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Military expenditures: 0% of GDP (2005 est.)
Rank: 172

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: 99 (2010)
Rank: 60
With paved runways total: 6
With paved runways over 3047 m: 1
With paved runways 15-24 to 2437 m: 3
With paved runways 914 to 1523 m: 2 (2010)
With unpaved runways total: 93
With unpaved runways 15-24 to 2437 m: 3
With unpaved runways 914 to 1523 m: 27
With unpaved runways under 914 m: 63 (2010)

Heliports

Pipelines

Railways

Roadways
Total: 12,869 km
Rank: 128
Pavedoiled gravel: 4,438 km (does not include urban roads)
Unpaved: 8,431 km (2009)

Waterways

Merchant marine
Total: 2
Rank: 143
By type: passenger/cargo 2
Registered in other countries: 19 (Antigua and Barbuda 9 Belize 2 Denmark 3 Finland 1 Gibraltar 1 Norway 3) (2010)

Ports and terminals: Grundartangi Hafnarfjordur Reykjavik


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

Refugees and internally displaced persons

Illicit drugs