Statistical information Iceland 2016

Iceland in the World
top of pageBackground: 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 Althingi 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.
top of pageLocation: 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 RegionAreaTotal: 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 claimsTerritorial 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
ElevationMean elevation: 557 m
Elevation extremes: lowest point: Atlantic Ocean 0 m: highest point: Hvannadalshnukur 2,110 m (at Vatnajokull Glacier)
Natural resources: fish hydropower geothermal power diatomite
Land useAgricultural land: 18.7%
arable land: 1.2%
permanent crops: 0%
permanent pasture: 17.5%
Forest: 0.3%
Other: 81%
Irrigated land: NA
Major riversMajor watersheds area km²Total water withdrawalTotal renewable water resourcesNatural 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
GeographyNote: 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
top of pagePopulationDistribution: Iceland is almost entirely urban with half of the population located in and around the capital of Reykjavik; smaller agglomerations are primarily found along the coast in the north and west: 335,878 (July 2016 est.)
Rank: 179
Growth rate: 1.17% (2016 est.)
Growth rate rank: 101
Below poverty line: NA%
Below poverty line note: 332,100 families
NationalityNoun: 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 profileAge structure0-14 years: 20.4%
15-24 years: 13.77%
25-54 years: 39.99%
55-64 years: 11.75%
65 years and over: 14.1% (2016 est.)
Dependency ratiosTotal dependency ratio: 51.6%
Youth dependency ratio: 30.8%
Elderly dependency ratio: 20.8%
Potential support ratio: 4.8%
Median ageTotal: 36.3 years
Male: 35.7 years
Female: 36.9 years
Rank: 70
Population growth rate: 1.17% (2016 est.)
Rank: 101
Birth rate: 13.8 births/1000 population (2016 est.)
Rank: 142
Death rate: 6.3 deaths/1000 population (2016 est.)
Rank: 151
Net migration rate: 4.2 migrant(s)/1000 population (2016 est.)
Rank: 29
Population distribution: Iceland is almost entirely urban with half of the population located in and around the capital of Reykjavik; smaller agglomerations are primarily found along the coast in the north and west
UrbanizationUrban population: 94.1% of total population
Rate of urbanization: 1.25% annual rate of change
Major urban areasPopulation: REYKJAVIK (capital) 184,000 (2014)
EnvironmentCurrent 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 pollutantsSex ratioAt birth: 1.05 male/female
0-14 years: 1.05 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: 0.88 male/female
Total population: 1.01 male/female
Mothers mean age at first birth: 27 (2011 est.)
Maternal mortality ratioInfant mortality rateTotal: 2.1 deaths/1000 live births
Male: 2.2 deaths/1000 live births
Female: 1.9 deaths/1000 live births
Rank: 223
Life expectancy at birthTotal population: 83 years
Male: 80.9 years
Female: 85.3 years
Rank: 6
Total fertility rate: 2.01 children born/woman (2016 est.)
Rank: 119
Contraceptive prevalence rateDrinking water source:
urban: 100% of population
rural: 100% of population
total: 100% of population
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Current health expenditurePhysicians density: 3.48 physicians/1000 population (2012)
Hospital bed density: 3.2 beds/1000 population (2012)
Sanitation facility access:
urban: 98.7% of population
rural: 100% of population
total: 98.8% of population
urban: 1.3% of population
rural: 0% of population
total: 1.2% of population (2015 est.)
Hiv/AidsAdult prevalence rate: NA
People living with hivaids: NA
Deaths: NA
Major infectious diseasesObesity adult prevalence rate: 23.9% (2014)
Rank: 76
Alcohol consumptionTobacco useChildren under the age of 5 years underweightEducation expenditures: 7% of GDP (2011)
Rank: 14
LiteracySchool life expectancy primary to tertiary educationTotal: 19 years
Male: 18 years
Female: 20 years
Youth unemploymenttop of pageCountry nameConventional long form: Republic of Iceland
Conventional short form: Iceland
Local long form: Lydveldid Island
Local short form: Island
Etymology: Floki VILGERDARSON an early explorer of the island applied the name 'land of ice' after spotting a fjord full of drift ice to the north and spending a bitter winter on the island; he eventually settled on the island however after he saw how it greened up in the summer and that it was in fact habitable
Government type: parliamentary republic
CapitalName: ReykjavikGeographic 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 areasIndependence: 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 (2016)
Legal system: civil law system influenced by the Danish model
International law organization participation: has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
CitizenshipCitizenship by birth: no
Citizenship by descent only: at least one parent must be a citizen of Iceland
Dual citizenship recognized: yes
Residency requirement for naturalization: 3 to 7 years
Suffrage: 18 years of age; universal
Executive branchChief of state: President Gudni Thorlacius JOHANNESSON
Head of government: Prime Minister Sigurdur Ingi JOHANNSSON
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 25 June 2016 (next to be held in June 2020); following legislative elections the leader of the majority party or majority coalition becomes prime minister
Election results: Gudni Thorlacius JOHANNESSON elected president; percent of vote - Gudni Thorlacius JOHANNESSON 39.1% Halla TOMASDOTTIR (independent) 27.9% Andri Snaer MAGNASON (independent) 14.3% Davio ODDSSON (IP) 13.7% Sturla JONSSON (Sturla JONSSON Party) 3.5% invalid 1.5%
Legislative branchDescription: unicameral Althingi or Parliament
Elections: last held on 29 October 2016
Election results: percent of vote by party - IP 29% LGM 15.9% Pirate Party 14.5% PP 11.5% Vioreisn 10.5% BF 7.2% SDA 5.7% other 2.3%; seats by party - IP 21 LGM 10 Pirate Party 10 PP 8 Vioreisn 7 BF 4 SDA 3
Judicial branchHighest 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:
Bright Future (Bjort framtid) or BF [Ottarr PROPPE]
Independence Party (Sjalfstaedisflokkurinn) or IP [Bjarni BENEDIKTSSON]
Left-Green Movement (Vinstrihreyfingin-graent frambod) or LGM [Katrin JAKOBSDOTTIR]
Pirate Party (Piratar) or PIP [Birgitta JONSDOTTIR]
Progressive Party (Framsoknarflokkurinn) or PP [Sigmundur David GUNNLAUGSSON]
Social Democratic Alliance (Samfylkingin) or SDA [Arni Pall ARNASON]
International organization participation: Arctic Council Australia Group BIS CBSS CD CE EAPC EBRD EFTA 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 representationIn 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 anthemName: '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 heritagetop of pageEconomy overview:
Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system. Except for a brief period during the 2008 crisis Iceland has achieved high growth low unemployment and a remarkably even distribution of income. The economy depends heavily on the fishing industry which provides 40% of merchandise 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. Since 2010 tourism has become the main pillar of Icelandic economic growth with the number of tourists expected to reach or exceed 4.5 times the Icelandic population in 2016.
Iceland's economy has been diversifying into manufacturing and service industries in the last decade particularly within the fields of tourism software production and biotechnology. 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 although no exploration has yet taken place. 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.
Following the privatization of the banking sector in the early 2000s domestic banks expanded aggressively in foreign markets and consumers and businesses borrowed heavily in foreign currencies. 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. Three new banks were established to take over the domestic assets of the collapsed banks. Two of them have majority ownership by the State which intends to re-privatize them.
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. Iceland’s financial woes prompted an initial increase in public support to join the EU and the euro zone with accession negotiations beginning in July 2010 but negotiations were suspended under the 2013 center-right government. Most macroeconomic indicators and employment have rebounded to pre-crisis levels driven primarily by the unprecedented growth in tourism – averaging over 20% annually – following the well publicized volcanic eruption in 2010.
Real gdp purchasing power parity:
$15.15 billion (2015 est.)
$14.58 billion (2014 est.)
$14.3 billion (2013 est.)
Note: data are in 2015 US dollars
Rank: 154
Real gdp growth rate:
4% (2015 est.)
2% (2014 est.)
4.4% (2013 est.)
Rank: 68
Real gdp per capita:
$46,100 (2015 est.)
$44,700 (2014 est.)
$44,400 (2013 est.)
Note: data are in 2015 US dollars
Rank: 32
Gross national saving:
23.5% of GDP (2015 est.)
20.9% of GDP (2014 est.)
21.2% of GDP (2013 est.)
Rank: 63
Gdp composition by sector of origin
Gdp composition by end useHousehold consumption: 50.1%
Government consumption: 23.6%
Investment in fixed capital: 19.1%
Investment in inventories: 0.2%
Exports of goods and services: 53.4%
Imports of goods and services: -46.3%
Gdp composition by sector of originAgriculture: 5.8%
Industry: 20.7%
Services: 73.5%
Agriculture products: potatoes carrots green vegetables; mutton chicken pork beef dairy products; fish
Industries: tourism fish processing; aluminum smelting ferrosilicon production; geothermal power hydropower tourism
Industrial production growth rate: 1.5% (2015 est.)
Rank: 122
Labor force: 191,400 (2015 est.)
Rank: 175
By occupation agriculture: 4.8%
By occupation industry: 22.2%
By occupation services: 73%
Unemployment rate:
4% (2015 est.)
5% (2014 est.)
Rank: 34
Youth unemploymentPopulation below poverty line: NA%
Note: 332,100 families
Gini indexHousehold income or consumption by percentage shareLowest 10: NA%
Highest 10: NA%
Distribution of family income gini index:
28 (2006)
25 (2005)
Rank: 130
BudgetRevenues: $7.058 billion
Expenditures: $7.139 billion
Surplus or deficit: -0.5% of GDP (2015 est.)
Surplus or deficit rank: 51
Taxes and other revenues: 42.2% of GDP (2015 est.)
Rank: 36
Public debt:
67.6% of GDP (2015 est.)
82.5% of GDP (2014 est.)
Rank: 46
RevenueFiscal year: calendar year
Inflation rate consumer prices:
1.6% (2015 est.)
2% (2014 est.)
Rank: 110
Central bank discount rate:
5.4% (31 January 2012)
5.75% (31 December 2010)
Rank: 74
Commercial bank prime lending rate:
7.61% (31 December 2015 est.)
7.74% (31 December 2014 est.)
Rank: 110
Stock of narrow money:
$3.314 billion (31 December 2015 est.)
$3.213 billion (31 December 2014 est.)
Rank: 113
Stock of broad money:
$8.368 billion (31 December 2013 est.)
$8.12 billion (31 December 2013 est.)
Rank: 111
Stock of domestic credit:
$18.25 billion (31 December 2015 est.)
$18.19 billion (31 December 2014 est.)
Rank: 87
Market value of publicly traded shares:
$2.825 billion (31 December 2012 est.)
$2.021 billion (31 December 2011 est.)
$1.996 billion (31 December 2010 est.)
Rank: 94
Current account balance:
$710 million (2015 est.)
$627 million (2014 est.)
Rank: 42
Exports:
$4.653 billion (2015 est.)
$4.861 billion (2014 est.)
Rank: 109
Commodities: fish and fish products 40% aluminum animal products ferrosilicon diatomite (2010 est.)
Partners: Netherlands 26.1% UK 11.6% Spain 11.5% Germany 7.4% France 5.7% US 5.7% Norway 4.7% (2015)
Imports:
$4.924 billion (2015 est.)
$4.961 billion (2014 est.)
Rank: 122
Commodities: machinery and equipment petroleum products foodstuffs textiles
Partners: Norway 10.1% Germany 8.6% US 7.9% China 7.9% Denmark 7.1% Netherlands 5.9% Brazil 5.8% UK 5% (2015)
Reserves of foreign exchange and gold:
$5.041 billion (31 December 2015 est.)
$4.176 billion (31 December 2014 est.)
Rank: 92
Debt external:
$31.04 billion (31 December 2015 est.)
$97.8 billion (31 December 2014 est.)
Rank: 76
Stock of direct foreign investment at home:
$16.72 billion (31 December 2015 est.)
$16.34 billion (31 December 2014 est.)
Stock of direct foreign investment abroad:
$15.59 billion (31 December 2015 est.)
$15.84 billion (31 December 2014 est.)
Exchange rates:
Icelandic kronur (ISK) per US dollar -
131.92 (2015 est.)
116.77 (2014 est.)
116.77 (2013 est.)
125.08 (2012 est.)
115.95 (2011 est.)
top of pageElectricityAccess electrification total population: 100%
Production: 18 billion kWh (2014 est.)
Production rank: 79
Consumption: 17 billion kWh (2014 est.)
Consumption rank: 75
Exports: 0 kWh (2013 est.)
Exports rank: 151
Imports: 0 kWh (2013 est.)
Imports rank: 161
Installed generating capacity: 2.8 million kW (2014 est.)
Installed generating capacity rank: 97
Generation sources fossil fuels: 4.3% of total installed capacity (2012 est.)
Generation sources fossil fuels rank: 205
Generation sources nuclear: 0% of total installed capacity (2012 est.)
Generation sources nuclear rank: 110
Generation sources hydroelectricity: 70.6% of total installed capacity (2012 est.)
Generation sources hydroelectricity rank: 22
Generation sources other renewable sources: 25.1% of total installed capacity (2012 est.)
Generation sources other renewable sources rank: 9
CoalPetroleumPetroleum total petroleum production: 0 bbl/day (2015 est.)
Petroleum total petroleum production rank: 149
Crude oil exports: 0 bbl/day (2015 est.)
Crude oil exports rank: 139
Crude oil imports: 0 bbl/day (2015 est.)
Crude oil imports rank: 206
Crude oil proven reserves: 0 bbl (1 January 2016 es)
Crude oil proven reserves rank: 148
Crude oilRefined petroleumProducts production: 0 bbl/day (2015 est.)
Products production rank: 196
Products consumption: 16,250 bbl/day (2015 est.)
Products consumption rank: 138
Products exports: 2,866 bbl/day (2015 est.)
Products exports rank: 107
Products imports: 17,550 bbl/day (2015 est.)
Products imports rank: 125
Natural gasProduction: 0 m³ (2014 est.)
Production rank: 203
Consumption: 0 m³ (2014 est.)
Consumption rank: 156
Exports: 0 m³ (2014 est.)
Exports rank: 117
Imports: 0 m³ (2014 est.)
Imports rank: 210
Proven reserves: 0 m³ (1 January 2014 es)
Proven reserves rank: 152
Carbon dioxide emissionsFrom consumption of energy: 3.3 million Mt (2013 est.)
From consumption of energy rank: 138
Energy consumption per capitatop of pageTelephonesFixed lines total subscriptions: 168,149
Fixed lines subscriptions per 100 inhabitants: 51
Fixed lines rank: 131
Mobile cellular total: 384,000
Mobile cellular subscriptions per 100 inhabitants: 116
Mobile cellular rank: 175
Telephone systemGeneral 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) (2015)
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)
InternetCountry code: .is
Users total: 326,000
Users percent of population: 98.2%
Users rank: 141
Broadband fixed subscriptionstop of pageMilitary expenditures:
0.13% of GDP (2012)
0.14% of GDP (2011)
0.13% of GDP (2010)
Rank: 131
Military and security forcesMilitary service age and obligationSpace programTerrorist groupstop of pageNational air transport systemNumber of registered air carriers: 5
Inventory of registered aircraft operated by air carriers: 43
Annual passenger traffic on registered air carriers: 3,413,950
Annual freight traffic on registered air carriers: 102,356,809 mt-km
Civil aircraft registration country code prefix: TF (2016)
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 under 914 m: 60
HeliportsPipelinesRailwaysRoadwaysTotal: 12,890 km
Pavedoiled gravel: 4,782 km
Unpaved: 8,108 km
Rank: 126
WaterwaysMerchant marineTotal: 2
By type: passenger/cargo 2
Registered in other countries: 19 (2010)
Rank: 141
Ports and terminalsMajor seaport: Grundartangi Hafnarfjordur Reykjavik
Iceland - Transnational issues 2016
top of pageDisputes 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 Agreement on the European Economic Area in failing to pay minimum compensation to Icesave depositors
Refugees and internally displaced personsStateless persons: 131
Illicit drugs