profile - iceland

7/30/2019 Profile - Iceland

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Iceland

Introduction Iceland

Background: Settled by Norwegian and Celtic (Scottish and Irish) immigrants duringthe late 9th and 10th centuries A.D., Iceland boasts the world's oldestfunctioning legislative assembly, the Althing, established in 930.Independent for over 300 years, Iceland was subsequently ruled byNorway and Denmark. Fallout from the Askja volcano of 1875devastated the Icelandic economy and caused widespread famine. Overthe next quarter century, 20% of the island's population emigrated,mostly to Canada and the US. Limited home rule from Denmark wasgranted in 1874 and complete independence attained in 1944. Literacy,

longevity, income, and social cohesion are first-rate by world standards.Geography Iceland

Location: Northern Europe, island between the Greenland Seaand the North Atlantic Ocean, northwest of the UK

Geographic coordinates: 65 00 N, 18 00 W

Map references: Arctic Region

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10/4/2008https://www.cia.gov/library/publications/the-world-factbook/print/ic.html


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Area: total: 103,000 sq kmland: 100,250 sq kmwater: 2,750 sq km

Area - comparative: slightly smaller than Kentucky

Land boundaries: 0 km

Coastline: 4,970 km

Maritime claims: territorial sea: 12 nmexclusive economic zone: 200 nmcontinental shelf: 200 nm or to the edge of thecontinental 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 mhighest point: Hvannadalshnukur 2,110 m (atVatnajokull glacier)

Natural resources: fish, hydropower, geothermal power, diatomite

Land use: arable land: 0.07%permanent crops: 0%other: 99.93% (2005)

Irrigated land: NA

Total renewable water resources: 170 cu km (2005)

Freshwater withdrawal(domestic/industrial/agricultural):

total: 0.17 cu km/yr (34%/66%/0%)per capita: 567 cu m/yr (2003)

Natural hazards: earthquakes and volcanic activity

Environment - current issues: water pollution from fertilizer runoff; inadequatewastewater treatment

Environment - internationalagreements:

party to: Air Pollution, Air Pollution-PersistentOrganic Pollutants, Biodiversity, Climate Change,Climate Change-Kyoto Protocol, Desertification,

Endangered Species, Hazardous Wastes, KyotoProtocol, Law of the Sea, Marine Dumping, OzoneLayer Protection, Ship Pollution, Transboundary AirPollution, Wetlands, Whalingsigned, but not ratified: Environmental Modification,Marine Life Conservation

Geography - note: strategic location between Greenland and Europe;westernmost European country; Reykjavik is the




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northernmost national capital in the world; more landcovered by glaciers than in all of continental Europe

People Iceland

Population: 304,367 (July 2008 est.)

Age structure:0-14 years: 21% (male 32,500/female 31,566)15-64 years: 67% (male 103,231/female 100,545)65 years and over: 12% (male 16,530/female 19,995) (2008 est.)

Median age: total: 34.8 yearsmale: 34.4 yearsfemale: 35.3 years (2008 est.)

Populationgrowth rate:

0.783% (2008 est.)

Birth rate: 13.5 births/1,000 population (2008 est.)

Death rate: 6.81 deaths/1,000 population (2008 est.)

Net migrationrate:

1.13 migrant(s)/1,000 population (2008 est.)

Sex ratio: at birth: 1.04 male(s)/femaleunder 15 years: 1.03 male(s)/female15-64 years: 1.03 male(s)/female65 years and over: 0.83 male(s)/femaletotal population: 1 male(s)/female (2008 est.)

Infant mortalityrate:

total: 3.25 deaths/1,000 live birthsmale: 3.39 deaths/1,000 live births

female: 3.1 deaths/1,000 live births (2008 est.)Life expectancy

at birth:total population: 80.55 yearsmale: 78.43 yearsfemale: 82.76 years (2008 est.)

Total fertilityrate:

1.91 children born/woman (2008 est.)

HIV/AIDS - adultprevalence rate:

0.2% (2001 est.)

HIV/AIDS -people living

with HIV/AIDS:

220 (2001 est.)

HIV/AIDS -deaths:

fewer 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%




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Religions: Lutheran Church of Iceland 82.1%, Roman Catholic Church 2.4%,Reykjavik Free Church 2.3%, Hafnarfjorour Free Church 1.6%, otherChristian 2.8%, other religions 0.9%, unaffiliated 2.6%, other orunspecified 5.5% (2006 est.)

Languages: Icelandic, English, Nordic languages, German widely spoken

Literacy: definition: age 15 and over can read and writetotal population: 99%male: 99%female: 99% (2003 est.)

School lifeexpectancy(primary to

tertiaryeducation):

total: 18 yearsmale: 17 yearsfemale: 19 years (2006)

Educationexpenditures:

7.6% of GDP (2004)

Government Iceland

Country name: conventional long form: Republic of Icelandconventional short form: Icelandlocal long form: Lydveldid Islandlocal short form: Island

Governmenttype:

constitutional republic

Capital: name: Reykjavikgeographic coordinates: 64 09 N, 21 57 W

time difference: UTC (5 hours ahead of Washington, DC during StandardTime)

Administrativedivisions:

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)

Nationalholiday:

Independence Day, 17 June (1944)

Constitution: 16 June 1944, effective 17 June 1944; amended many times

Legal system: civil law system based on Danish law; has not accepted compulsory ICJjurisdiction

Suffrage: 18 years of age; universal

Executivebranch:

chief of state: President Olafur Ragnar GRIMSSON (since 1 August1996)head of government: Prime Minister Geir H. HAARDE (since 7 June2006)




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cabinet: Cabinet appointed by the prime ministerelections: president, largely a ceremonial post, is elected by popular votefor a four-year term (no term limits); election last held 26 June 2004(next to be held in June 2008); following legislative elections, the leaderof the majority party or the leader of the majority coalition is usually theprime ministerelection results: Olafur Ragnar GRIMSSON 85.6%, BaldurAGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%

Legislativebranch:

unicameral Parliament or Althing (63 seats; members are elected bypopular 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-GreenMovement 14.3%, Liberal Party 7.3%, other 3.3%; seats by party -Independence Party 25, Social Democratic Alliance 18, ProgressiveParty 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 lifeby the Minister of Justice)

Political partiesand leaders:

Independence Party or IP [Geir H. HAARDE]; Left-Green Movement orLGM [Steingrimur SIGFUSSON]; Liberal Party or LP [GudjonKRISTJANSSON]; 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)

Politicalpressure

groups andleaders:

Icelandic Psychiatric Human Rights Group

Internationalorganization

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

Diplomaticrepresentation

in the US:

chief of mission: Ambassador Albert JONSSONchancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005-

1704telephone: [1] (202) 265-6653FAX: [1] (202) 265-6656consulate(s) general: New York

Diplomaticrepresentation

from the US:

chief of mission: Ambassador Carol VAN VOORSTembassy: Laufasvegur 21, 101 Reykjavikmailing address: US Department of State, 5640 Reykjavik Place,Washington, D.C. 20521-5640telephone: [354] 562-9100




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FAX: [354] 562-9118

Flagdescription:

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 theDannebrog (Danish flag)

Economy Iceland

Economy -overview:

Iceland's Scandinavian-type economy is basically capitalistic, yet with anextensive welfare system (including generous housing subsidies), lowunemployment, and remarkably even distribution of income. In theabsence of other natural resources (except for abundant geothermalpower), the economy depends heavily on the fishing industry, whichprovides 70% of export earnings and employs 6% of the work force. Theeconomy remains sensitive to declining fish stocks as well as tofluctuations in world prices for its main exports: fish and fish products,aluminum, and ferrosilicon. Substantial foreign investment in thealuminum and hydropower sectors has boosted economic growth which,nevertheless, has been volatile and characterized by recurrent

imbalances. Government policies include reducing the current accountdeficit, limiting foreign borrowing, containing inflation, revisingagricultural and fishing policies, and diversifying the economy. Thegovernment remains opposed to EU membership, primarily because ofIcelanders' concern about losing control over their fishing resources.Iceland's economy has been diversifying into manufacturing and serviceindustries in the last decade, and new developments in softwareproduction, biotechnology, and financial services are taking place. Thetourism sector is also expanding, with the recent trends in ecotourism andwhale watching. The 2006 closure of the US military base at Keflavikhad very little impact on the national economy; Iceland's low

unemployment rate aided former base employees in finding alternateemployment.

GDP(purchasing

power parity):

$12.19 billion (2007 est.)

GDP (officialexchange rate):

$20 billion (2007 est.)

GDP - realgrowth rate:

3.8% (2007 est.)

GDP - per capita

(PPP):

$40,400 (2007 est.)

GDP -composition by

sector:

agriculture: 5.2%industry: 25.7%services: 69.1% (2007 est.)

Labor force: 181,000 (2007 est.)

Labor force - byoccupation:

agriculture: 5.1%industry: 23%




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services: 71.8% (2005)

Unemploymentrate:

1% (2007 est.)

Populationbelow poverty

line:

NA%

Householdincome or

consumption bypercentage

share:

lowest 10%: NA%highest 10%: NA%

Distribution offamily income -

Gini index:

25 (2005)

Inflation rate(consumer

prices):

5.1% (2007 est.)

Investment(gross fixed):

27.5% of GDP (2007 est.)

Budget: revenues: $9.64 billionexpenditures: $8.602 billion (2007 est.)

Public debt: 27.6% of GDP (2007 est.)

Agriculture -products:

potatoes, green vegetables; mutton, dairy products; fish

Industries: fish processing; aluminum smelting, ferrosilicon production; geothermal

power, tourism

Industrialproduction

growth rate:

9% (2007 est.)

Electricity -production:

8.533 billion kWh (2005)

Electricity -production by

source:

fossil fuel: 0.1%hydro: 82.5%nuclear: 0%other: 17.5% (geothermal) (2001)

Electricity -consumption:

8.152 billion kWh (2005)

Electricity -exports:

0 kWh (2005)

Electricity -imports:

0 kWh (2005)

Oil - production: 0 bbl/day (2005 est.)




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Oil -consumption:

18,460 bbl/day (2005 est.)

Oil - exports: 0 bbl/day (2004)

Oil - imports: 17,450 bbl/day (2004)

Oil - proved

reserves:

0 bbl (1 January 2006 est.)

Natural gas -production:

0 cu m (2005 est.)

Natural gas -consumption:

0 cu m (2005 est.)

Natural gas -exports:

0 cu m (2005 est.)

Natural gas -imports:

0 cu m (2005)

Natural gas -proved

reserves:

0 cu m (1 January 2006 est.)

Current accountbalance:

-$3.189 billion (2007 est.)

Exports: $4.793 billion f.o.b. (2007 est.)

Exports -commodities:

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

Exports -partners:

Netherlands 21.3%, Germany 13.3%, UK 13.2%, Ireland 7.7%, US

7.3%, Spain 4.6%, Japan 4.3% (2007)Imports: $6.181 billion (2007 est.)

Imports -commodities:

machinery and equipment, petroleum products, foodstuffs, textiles

Imports -partners:

US 13.7%, Germany 12.2%, Sweden 10.2%, Denmark 7.5%,Netherlands 5.7%, UK 5.4%, China 5.1%, Norway 4.6% (2007)

Economic aid -donor:

$6.7 million (2004)

Reserves of

foreignexchange andgold:

$2.436 billion (31 December 2007 est.)

Debt - external: $3.073 billion (2002)

Stock of directforeign

investment - athome:

$NA




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Stock of directforeign

investment -abroad:

$NA

Market value ofpublicly traded

shares:

$27.8 billion (2005)

Currency(code):

Icelandic krona (ISK)

Currency code: ISK

Exchange rates: Icelandic kronur per US dollar - 63.391 (2007), 70.195 (2006), 62.982(2005), 70.192 (2004), 76.709 (2003)

Fiscal year: calendar year

Communications Iceland

Telephones -main lines inuse:

186,700 (2007)

Telephones -mobile cellular:

347,500 (2007)

Telephonesystem:

general assessment: telecommunications infrastructure is modern andfully digitized, with satellite-earth stations, fiber-optic cables, and anextensive broadband networkdomestic: liberalization of the telecommunications sector beginning inthe late 1990s has led to increased competition especially in the mobileservices segment of the market

international: country code - 354; the CANTAT-3 and FARICE-1submarine cable systems provide connectivity to Canada, the FaroeIslands, UK, Denmark, and Germany; a planned new section of theHibernia-Atlantic submarine cable will provide additional connectivity toCanada, US, and Ireland; satellite earth stations - 2 Intelsat (AtlanticOcean), 1 Inmarsat (Atlantic and Indian Ocean regions); note - Icelandshares the Inmarsat earth station with the other Nordic countries(Denmark, Finland, Norway, and Sweden)

Radiobroadcast

stations:

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

Radios: 260,000 (1997)

Televisionbroadcast

stations:

14 (plus 156 repeaters) (1997)

Televisions: 98,000 (1997)

Internet countrycode:

.is




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Internet hosts: 270,942 (2007)

Internet ServiceProviders

(ISPs):

20 (2001)

Internet users: 202,300 (2007)

Transportation Iceland

Airports: 99 (2007)

Airports - withpaved runways:

total: 5over 3,047 m: 11,524 to 2,437 m: 3914 to 1,523 m: 1 (2007)

Airports - withunpaved

runways:

total: 941,524 to 2,437 m: 3914 to 1,523 m: 28

under 914 m: 63 (2007)Roadways: total: 13,058 km

paved/oiled gravel: 4,397 km (does not include urban roads)unpaved: 8,661 km (2007)

Merchantmarine:

total: 2 ships (1000 GRT or over) 4,704 GRT/729 DWTby type: passenger/cargo 2registered in other countries: 45 (Antigua and Barbuda 12, Bahamas 1,Belize 1, Faroe Islands 4, Gibraltar 1, Malta 7, Marshall Islands 3,Norway 3, St Vincent and the Grenadines 13) (2008)

Ports and

terminals:

Grundartangi, Hafnarfjordur, Reykjavik

Military Iceland

Militarybranches:

no regular military forces; Icelandic National Police (2008)

Manpoweravailable for

military service:

males age 16-49: 74,896 (2008 est.)

Manpower fit formilitary service:

males age 16-49: 62,342 (2008 est.)

Manpowerreachingmilitarily

significant ageannually:

male: 2,393female: 2,317 (2008 est.)

Militaryexpenditures:

0% of GDP (2005 est.)

Military - note: Iceland has no standing military force; under a 1951 bilateral agreement -still valid - its defense was provided by the US-manned Icelandic




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Defense Force (IDF) headquartered at Keflavik; however, all US militaryforces in Iceland were withdrawn as of October 2006; although wartimedefense of Iceland remains a NATO commitment, in April 2007, Icelandand Norway signed a bilateral agreement providing for Norwegian aerialsurveillance and defense of Icelandic airspace (2008)

Transnational

Issues Iceland

Disputes -international:

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

This page was last updated on 2 October, 2008


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