1995 Edition

Area

total area: 103,000 sq km land area: 100,250 sq km comparative area: slightly smaller than Kentucky

Climate

temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers

Coastline

4,988 km

Environment

current issues: water pollution from fertilizer runoff; inadequate wastewater treatment natural hazards: earthquakes and volcanic activity international agreements: party to - Air Pollution, Biodiversity, Climate Change, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands; signed, but not ratified - Environmental Modification, Marine Life Conservation

International disputes

Rockall continental shelf dispute involving Denmark, Ireland, and the UK (Ireland and the UK have signed a boundary agreement in the Rockall area)

Irrigated land

NA sq km

Land boundaries

0 km

Land use

arable land: 1% permanent crops: 0% meadows and pastures: 20% forest and woodland: 1% other: 78%

Location

Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK

Map references

Arctic Region

Maritime claims

continental shelf: 200 nm or to the edge of the continental margin exclusive economic zone: 200 nm territorial sea: 12 nm

Natural resources

fish, hydropower, geothermal power, diatomite

Note

strategic location between Greenland and Europe; westernmost European country; more land covered by glaciers than in all of continental Europe

Terrain

mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords

Age structure

0-14 years: 24% (female 31,482; male 32,912) 15-64 years: 65% (female 84,559; male 87,089) 65 years and over: 11% (female 16,554; male 13,402) (July 1995 est.)

Birth rate

15.85 births/1,000 population (1995 est.)

Death rate

6.7 deaths/1,000 population (1995 est.)

Ethnic divisions

homogeneous mixture of descendants of Norwegians and Celts

Infant mortality rate

4 deaths/1,000 live births (1995 est.)

Labor force

127,900 by occupation: commerce, transportation, and services 60.0%, manufacturing 12.5%, fishing and fish processing 11.8%, construction 10.8%, agriculture 4.0% (1990)

Languages

Icelandic

Life expectancy at birth

total population: 78.98 years male: 76.69 years female: 81.39 years (1995 est.)

Literacy

age 15 and over can read and write (1976 est.) total population: 100%

Nationality

noun: Icelander(s) adjective: Icelandic

Net migration rate

0 migrant(s)/1,000 population (1995 est.)

Population

265,998 (July 1995 est.) note: population data estimates based on average growth rate may differ slightly from official population data because of volatile migration rates

Population growth rate

0.92% (1995 est.)

Religions

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

Total fertility rate

2.06 children born/woman (1995 est.)

Administrative divisions

23 counties (syslar, singular - sysla) and 14 independent towns* (kaupstadhir, singular - kaupstadhur); Akranes*, Akureyri*, Arnessysla, Austur-Bardhastrandarsysla, Austur-Hunavatnssysla, Austur-Skaftafellssysla, Borgarfjardharsysla, Dalasysla, Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*, Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*, Myrasysla, Neskaupstadhur*, Nordhur-Isafjardharsysla, Nordhur-Mulasys-la, Nordhur-Thingeyjarsysla, Olafsfjordhur*, Rangarvallasysla, Reykjavik*, Saudharkrokur*, Seydhisfjordhur*, Siglufjordhur*, Skagafjardharsysla, Snaefellsnes-og Hnappadalssysla, Strandasysla, Sudhur-Mulasysla, Sudhur-Thingeyjarsysla, Vesttmannaeyjar*, Vestur-Bardhastrandarsysla, Vestur-Hunavatnssysla, Vestur-Isafjardharsysla, Vestur-Skaftafellssysla

Capital

Reykjavik

Constitution

16 June 1944, effective 17 June 1944

Digraph

IC

Diplomatic representation in US

chief of mission: Ambassador Einar BENEDIKTSSON chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005 telephone: [1] (202) 265-6653 through 6655

Executive branch

chief of state: President Vigdis FINNBOGADOTTIR (since 1 August 1980); election last held on 29 June 1988 (next scheduled for June 1996); results - there was no election in 1992 as President Vigdis FINNBOGADOTTIR was unopposed head of government: Prime Minister David ODDSSON (since 30 April 1991) cabinet: Cabinet; appointed by the president

FAX

[1] (202) 265-6656 consulate(s) general: New York

[354] (1) 629139

Flag

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)

Independence

17 June 1944 (from Denmark)

Judicial branch

Supreme Court (Haestirettur)

Legal system

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

Legislative branch

unicameral

Member of

Australia Group, BIS, CCC, CE, EBRD, ECE, EFTA, FAO, GATT, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC, ISO, ITU, MTCR, NACC, NATO, NC, NEA, NIB, OECD, OSCE, PCA, UN, UNCTAD, UNESCO, UNU, UPU, WEU (associate), WHO, WIPO, WMO

Names

conventional long form: Republic of Iceland conventional short form: Iceland local long form: Lyoveldio Island local short form: Island

National holiday

Anniversary of the Establishment of the Republic, 17 June (1944)

Parliament (Althing)

elections last held on 8 April 1995 (next to be held by April 1999); results - Independence Party 37.1%, Progressive Party 23.3%, Social Democratic Party 11.4%, Socialists 14.3%, People's Movement 7.2%, Women's Party 4.9%; seats - (63 total) Independence 25, Progressive 15, Social Democratic 7, Socialists 9, People's Movement 4, Women's Party 3

Political parties and leaders

Independence Party (conservative), David ODDSSON; Progressive Party, Halldor ASGRIMSSON; Social Democratic Party, Jon Baldvin HANNIBALSSON; People's Alliance (left socialist), Olafur Ragnar GRIMSSON; Women's Party; People's Movement (moderate left); National Awakening, Johanna SIGURDARDOTTIR

Suffrage

18 years of age; universal

Type

republic

US diplomatic representation

chief of mission: Ambassador Parker W. BORG embassy: Laufasvegur 21, Box 40, Reykjavik mailing address: US Embassy, PSC 1003, Box 40, Reykjavik; FPO AE 09728-0340 telephone: [354] (1) 629100

Agriculture

accounts for about 15% of GDP; fishing is most important economic activity, contributing nearly 75% to export earnings; principal crops - potatoes, turnips; livestock - cattle, sheep; fish catch of about 1.1 million metric tons in 1992

Budget

revenues: $1.9 billion expenditures: $2.1 billion, including capital expenditures of $NA (1994 est.)

Currency

1 Icelandic krona (IKr) = 100 aurar

Economic aid

recipient: US commitments, including Ex-Im (FY70-81), $19.1 million

Electricity

capacity: 1,070,000 kW production: 4.7 billion kWh consumption per capita: 16,458 kWh (1993)

Exchange rates

Icelandic kronur (IKr) per US$1 - 67.760 (January 1995), 69.944 (1994), 67.603 (1993), 57.546 (1992), 58.996 (1991), 58.284 (1990)

Exports

$1.4 billion (f.o.b., 1993) commodities: fish and fish products, animal products, aluminum, ferrosilicon, diatomite partners: EC 68% (UK 25%, Germany 12%), US 11%, Japan 8% (1992)

External debt

$2.5 billion (1993 est.)

Fiscal year

calendar year

Imports

$1.3 billion (c.i.f., 1993) commodities: machinery and transportation equipment, petroleum products, foodstuffs, textiles partners: EC 53% (Germany 14%, Denmark 10%, UK 9%), Norway 14%, US 9% (1992)

Industrial production

growth rate 1.75% (1991 est.)

Industries

fish processing, aluminum smelting, ferro-silicon production, geothermal power

Inflation rate (consumer prices)

1.3% (1994 est.)

National product

GDP - purchasing power parity - $4.5 billion (1994 est.)

National product per capita

$17,250 (1994 est.)

National product real growth rate

2.4% (1994 est.)

Overview

Iceland's Scandinavian-type economy is basically capitalistic, but with an extensive welfare system, relatively low unemployment, and comparatively even distribution of income. The economy is heavily dependent on the fishing industry, which provides nearly 75% of export earnings and employs 12% of the work force. In the absence of other natural resources - except energy - Iceland's economy is vulnerable to changing world fish prices. The economy, in recession since 1988, began to recover in 1993, posting 0.4% growth, but was still hampered by cutbacks in fish quotas as well as falling world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Real GDP grew by perhaps 2.4% in 1994. The center-right government plans to continue its policies of reducing the budget and current account deficits, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, diversifying the economy, and privatizing state-owned industries. The government, however, remains divided on the issue of EU membership, primarily because of Icelanders' concern about losing control over their fishing resources.

Unemployment rate

7% (1994 est.)

Radio

broadcast stations: AM 5, FM 147 (transmitters and repeaters), shortwave 0 radios: NA

Telephone system

140,000 telephones; adequate domestic service local: NA intercity: the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links international: 2 earth stations carry all international traffic through an Atlantic Ocean INTELSAT satellite

Television

broadcast stations: 202 (transmitters and repeaters) televisions: NA

Airports

total: 90 with paved runways over 3,047 m: 1 with paved runways 1,524 to 2,437 m: 3 with paved runways 914 to 1,523 m: 6 with paved runways under 914 m: 53 with unpaved runways 1,524 to 2,437 m: 4 with unpaved runways 914 to 1,523 m: 23

Highways

total: 11,373 km paved: 2,513 km unpaved: gravel, earth 8,860 km (1992)

Merchant marine

total: 6 ships (1,000 GRT or over) totaling 30,025 GRT/40,410 DWT ships by type: cargo 1, chemical tanker 1, oil tanker 1, refrigerated cargo 1, roll-on/roll-off cargo 2

Ports

Akureyri, Hornafjordur, Isafjordur, Keflavik, Raufarhofn, Reykjavik, Seydhisfjordhur, Straumsvik, Vestmannaeyjar

Railroads

0 km

Branches

no regular armed forces; Police, Coast Guard; note - Iceland's defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik

Defense expenditures

none ________________________________________________________________________ INDIA

Manpower availability

males age 15-49 70,743; males fit for military service 62,698 (1995 est.)