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. Denmark granted limited home rule in 1874 and complete independence 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: Arctic Region

Area
Total: 103,000 km²
Land: 100,250 km²
Water: 2,750 km²
Rank: 108
Comparative: slightly smaller than Pennsylvania; about the same size as 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

Natural resources: fish hydropower geothermal power diatomite

Land use
Agricultural land: 18.7%
Forest: 0.3%
Other: 81%

Irrigated land: NA

Major rivers

Major watersheds area km²

Total water withdrawal

Total renewable water resources: 170 km³ (2011)

Natural hazards: earthquakes and volcanic activity
Volcanism: Iceland situated on top of a hotspot experiences severe volcanic activity; Eyjafjallajokull 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 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: 331,918 (July 2015 est.)
Rank: 180
Growth rate: 1.21% (2015 est.)
Growth rate rank: 149
Below poverty line: NA%
Below poverty line note: 332,100 families

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: Evangelical Lutheran Church of Iceland (official) 73.8% Roman Catholic 3.6% Reykjavik Free Church 2.9% Hafnarfjorour Free Church 2% The Independent Congregation 1% other religions 3.9% (includes Pentecostal and Asatru Association) none 5.6% other or unspecified 7.2% (2015 est.)

Demographic profile

Age structure
0-14 years: 20.43%
15-24 years: 14.03%
25-54 years: 40.09%
55-64 years: 11.67%
65 years and over: 13.78% (2015 est.)

Dependency ratios
Total dependency ratio: 51.6%
Youth dependency ratio: 30.8%
Elderly dependency ratio: 20.8%
Potential support ratio: 4.8%

Median age
Total: 36.4 years
Male: 35.9 years
Female: 36.9 years

Population growth rate: 1.21% (2015 est.)
Rank: 149

Birth rate: 13.91 births/1000 population (2015 est.)
Rank: 153

Death rate: 6.28 deaths/1000 population (2015 est.)
Rank: 126

Net migration rate: 4.43 migrant(s)/1000 population (2015 est.)
Rank: 69

Population distribution

Urbanization
Urban population: 94.1% of total population
Rate of urbanization: 1.25% annual rate of change

Major urban areas
Population: REYKJAVIK (capital) 184,000 (2014)

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: 1.05 male/female
0-14 years: 1.04 male/female
15-24 years: 1.03 male/female
25-54 years: 1.02 male/female
55-64 years: 1.01 male/female
65 years and over: 0.87 male/female
Total population: 1.01 male/female

Mothers mean age at first birth

Maternal mortality ratio

Infant mortality rate
Total: 2.06 deaths/1000 live births
Male: 2.2 deaths/1000 live births
Female: 1.91 deaths/1000 live births
Rank: 215

Life expectancy at birth
Total population: 82.97 years
Male: 80.81 years
Female: 85.22 years
Rank: 20

Total fertility rate: 2.02 children born/woman (2015 est.)
Rank: 141

Contraceptive prevalence rate

Drinking water source:

Current health expenditure

Physicians density: 3.48 physicians/1000 population (2012)

Hospital bed density: 3.2 beds/1000 population (2012)

Sanitation facility access:

Hiv/Aids
Adult prevalence rate: NA
People living with hivaids: NA
Deaths: NA

Major infectious diseases

Obesity adult prevalence rate: 23.9% (2014)
Rank: 76

Alcohol consumption

Tobacco use

Children under the age of 5 years underweight

Education expenditures: 7.4% of GDP (2011)
Rank: 14

Literacy

School life expectancy primary to tertiary education
Total: 19 years
Male: 18 years
Female: 20 years

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

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; birthday of Jon SIGURDSSON leader of Iceland's 19th Century independence movement)

National holiday: Independence Day 17 June (1944)

Constitution: several previous; latest ratified 16 June 1944 effective 17 June 1944 (at independence); amended many times last in 2013; note - a new constitution drafted in 2012 in the aftermath of the country's banking collapse was voted down in April 2013 by the recently elected parliament though several amendments were passed (2013)

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 Sigmundur David GUNNLAUGSSON
Cabinet: Cabinet appointed by the prime minister
Electionsappointments: president directly elected by simple majority popular vote for a 4-year term ; election last held on 30 June 2012 (next to be held in June 2016); following legislative elections the leader of the majority party or majority coalition becomes prime minister
Election results: Olafur Ragnar GRIMSSON elected president; percent of vote - Olafur Ragnar GRIMSSON 52.8% Thora ARNORSDOTTIR (independent) 33.2% Ari Trausti GUDMUNDSSON (independent) 8.6% other 5.4%

Legislative branch
Description: unicameral Althingi (63 seats; members directly elected in multi-seat constituencies by proportional representation vote to serve 4-year terms)
Elections: last held on 27 April 2013
Election results: percent of vote by party - SDA 30.16% IP 25.4% LGM 17.46% PP 14.29% BF 3.18% Dawn 3.18% Rainbow 3.18% Pirate Party 1.59% Solidarity 1.59%; seats by party - SDA 19 IP 16 LGM 11 PP 9 BF 2 Dawn 2 Rainbow 2 Pirate Party 1 Solidarity 1

Judicial branch
Highest court: Supreme Court or Haestirettur
Judge selection and term of office: judges proposed by Ministry of Interior selection committee and appointed by the president; judges appointed for an indefinite period
Subordinate courts: 8 district courts; Labor Court

Political parties and leaders: Solidarity (Samstada) [Lilja MOSESDOTTIR]

International organization participation: Arctic Council Australia Group BIS CBSS CD CE EAPC EBRD EFTA EU (candidate country) FAO FATF IAEA IBRD ICAO ICC (national committees) ICCt ICRM IDA IFAD IFC IFRCS IHO ILO IMF IMO IMSO Interpol IOC IOM IPU ISO ITSO ITU ITUC (NGOs) 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 Geir Hilmar HAARDE
In the us chancery: House of Sweden 2,900 K Street NW
In the us telephone: [1] 265-6,653
In the us FAX: [1] 265-6,656
In the us consulate general: New York
From the us chief of mission: Ambassador Robert C. BARBER
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] 595-22 00
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 colors: blue white red

National anthem
Name: 'Lofsongur'
Lyrics and music: Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON
Note: adopted 1944; also known as 'O Gud vors lands' the anthem 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 nearly 5% 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. In fall 2013 the Icelandic government approved a joint application by Icelandic Chinese and Norwegian energy firms to conduct oil exploration off Iceland’s northeast coast. Abundant geothermal and hydropower sources have attracted substantial foreign investment in the aluminum sector boosted economic growth and sparked some interest from high-tech firms looking to establish data centers using cheap green energy 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. Since the collapse of Iceland's financial sector government economic priorities have included: stabilizing the krona implementing capital controls reducing Iceland's high budget deficit containing inflation addressing high household debt 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. Iceland began making payments to the UK the Netherlands and other claimants in late 2011 following Iceland's Supreme Court ruling that upheld 2008 emergency legislation that gives priority to depositors for compensation from failed Icelandic banks. British and Dutch authorities claim Iceland owes approximately $6.5 billion for compensating British and Dutch citizens who lost deposits in Icesave savings accounts when parent bank Landsbanki failed in 2008. Iceland’s financial woes prompted an initial increase in public support to join the EU and the Eurozone with accession negotiations beginning in July 2010. However the election of a new center-right government and declining public support amidst the ongoing Eurozone crisis led to the suspension of negotiations in mid-2013.

Real gdp purchasing power parity:
Note: data are in 2014 US dollars
Rank: 151

Real gdp growth rate:
Rank: 115

Real gdp per capita:
Note: data are in 2014 US dollars
Rank: 35

Gross national saving:
Rank: 108

Gdp composition by end use
Household consumption: 52.6%
Government consumption: 24.6%
Investment in fixed capital: 13.9%
Investment in inventories: 1%
Exports of goods and services: 54.9%
Imports of goods and services: -47%: (2014 est.)

Gdp composition by sector of origin
Agriculture: 6%
Industry: 22.4%
Services: 71.7%

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% (2014 est.)
Rank: 151

Labor force: 185,900 (2014 est.)
Rank: 175
By occupation agriculture: 4.8%
By occupation industry: 22.2%
By occupation services: 73%

Unemployment rate:
Rank: 43

Youth unemployment

Population below poverty line: NA%
Note: 332,100 families

Gini index

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

Distribution of family income gini index:
Rank: 125

Budget
Revenues: $7.332 billion
Expenditures: $7.315 billion
Surplus or deficit: 0.1% of GDP (2014 est.)
Surplus or deficit rank: 36

Taxes and other revenues: 45.3% of GDP (2014 est.)
Rank: 24

Public debt:
Rank: 17

Revenue

Fiscal year: calendar year

Inflation rate consumer prices:
Rank: 102

Central bank discount rate:
Rank: 70

Commercial bank prime lending rate:
Rank: 113

Stock of narrow money:
Rank: 107

Stock of broad money:
Rank: 110

Stock of domestic credit:
Rank: 84

Market value of publicly traded shares:
Rank: 95

Current account balance:
Rank: 57

Exports:
Rank: 113
Commodities: fish and fish products 40% aluminum animal products ferrosilicon diatomite (2010 est.)
Partners: Netherlands 30% Germany 12.1% UK 9.5% Norway 4.8% US 4.7% France 4.7% (2013)

Imports:
Rank: 134
Commodities: machinery and equipment petroleum products foodstuffs textiles
Partners: Norway 15.6% US 10% Germany 8.4% China 8.2% Brazil 7.7% Denmark 6.3% Netherlands 5.2% UK 4.7% Sweden 4.2% (2013)

Reserves of foreign exchange and gold:
Rank: 92

Debt external:
Rank: 47

Stock of direct foreign investment at home:

Stock of direct foreign investment abroad:

Exchange rates:


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Electricity
Production: 17.19 billion kWh (2012 est.)
Production rank: 78
Consumption: 16.58 billion kWh (2011 est.)
Consumption rank: 77
Exports: 0 kWh (2013 est.)
Exports rank: 152
Imports: 0 kWh (2013 est.)
Imports rank: 158
Installed generating capacity: 2.669 million kW (2011 est.)
Installed generating capacity rank: 97
Generation sources fossil fuels: 4.5% of total installed capacity (2011 est.)
Generation sources fossil fuels rank: 202
Generation sources nuclear: 0% of total installed capacity (2011 est.)
Generation sources nuclear rank: 108
Generation sources hydroelectricity: 70.6% of total installed capacity (2011 est.)
Generation sources hydroelectricity rank: 24
Generation sources other renewable sources: 24.9% of total installed capacity (2011 est.)
Generation sources other renewable sources rank: 8

Coal

Petroleum
Petroleum total petroleum production: 0 bbl/day (2013 est.)
Petroleum total petroleum production rank: 184
Crude oil exports: 0 bbl/day (2012 est.)
Crude oil exports rank: 130
Crude oil imports: 0 bbl/day (2010 est.)
Crude oil imports rank: 201
Crude oil proven reserves: 0 bbl (1 January 2014 est.)
Crude oil proven reserves rank: 147

Crude oil

Refined petroleum
Products production: 0 bbl/day (2012 est.)
Products production rank: 157
Products consumption: 17,160 bbl/day (2013 est.)
Products consumption rank: 138
Products exports: 1420 bbl/day (2012 est.)
Products exports rank: 103
Products imports: 14,520 bbl/day (2010 est.)
Products imports rank: 122

Natural gas
Production: 0 m³ (2012 est.)
Production rank: 146
Consumption: 0 m³ (2012 est.)
Consumption rank: 156
Exports: 0 m³ (2013 est.)
Exports rank: 115
Imports: 0 m³ (2013 est.)
Imports rank: 207
Proven reserves: 0 m³ (1 January 2014 est.)
Proven reserves rank: 151

Carbon dioxide emissions
From consumption of energy: 3.505 million Mt (2012 est.)
From consumption of energy rank: 138

Energy consumption per capita


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Telephones
Fixed lines total subscriptions: 170,000
Fixed lines subscriptions per 100 inhabitants: 52
Fixed lines rank: 131
Mobile cellular total: 370,000
Mobile cellular subscriptions per 100 inhabitants: 113
Mobile cellular rank: 175

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 1 Inmarsat (Atlantic and Indian Ocean regions); note - Iceland shares the Inmarsat earth station with the other Nordic countries (Denmark Finland Norway and Sweden) (2011)

Broadcast media: state-owned public TV broadcaster operates 1 TV channel nationally; several privately owned TV stations broadcast nationally and roughly another half-dozen operate locally; about one-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
Users total: 316,400
Users percent of population: 96.5%
Users rank: 141

Broadband fixed subscriptions


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Military expenditures:
Rank: 131

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: 96 (2013)
Rank: 60
With paved runways total: 7
With paved runways over 3047 m: 1
With paved runways 15-24 to 2437 m: 3
With paved runways 914 to 1523 m: 3
With unpaved runways total: 89
With unpaved runways 15-24 to 2437 m: 3
With unpaved runways 914 to 1523 m: 26
With unpaved runways: 60 (2013)

Heliports

Pipelines

Railways

Roadways
Total: 12,890 km
Pavedoiled gravel: 4,782 km
Unpaved: 8,108 km
Rank: 126

Waterways

Merchant marine
Total: 2
By type: passenger/cargo 2
Registered in other countries: 19 (2010)
Rank: 141

Ports and terminals
Major seaport: 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; the European Free Trade Association Surveillance Authority filed a suit against Iceland claiming the country violated the European Economic Area agreement in failing to pay minimum compensation to Icesave depositors

Refugees and internally displaced persons
Stateless persons: 119

Illicit drugs