2005 Edition

Administrative divisions

8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland

Age structure

0-14 years: 22.1% (male 33,302/female 32,257) 15-64 years: 66.2% (male 99,513/female 96,886) 65 years and over: 11.7% (male 15,723/female 19,056) (2005 est.)

Agriculture - products

potatoes, green vegetables, mutton, dairy products, fish

Airports

98 (2004 est.)

Airports - with paved runways

total

5 over 3,047 m: 1 1,524 to 2,437 m: 3 914 to 1,523 m: 1 (2004 est.)

Airports - with unpaved runways

total

93 1,524 to 2,437 m: 3 914 to 1,523 m: 29 under 914 m: 61 (2004 est.) Military Iceland

Area

land

100,250 sq km

total

103,000 sq km

water

2,750 sq km

Area - comparative

slightly smaller than Kentucky

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

Birth rate

13.73 births/1,000 population (2005 est.)

Budget

expenditures

$4.058 billion, including capital expenditures of $467 million (2004 est.)

revenues

$4.154 billion

Capital

Reykjavik

Climate

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

Coastline

4,988 km

Constitution

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

Country name

conventional long form

Republic of Iceland

conventional short form

Iceland

local long form

Lydhveldidh Island

local short form

Island

Currency (code)

Icelandic krona (ISK)

Currency code

ISK

Current account balance

$-570 million (2004 est.)

Death rate

6.68 deaths/1,000 population (2005 est.)

Debt - external

$3.073 billion (2002)

Diplomatic representation from the US

chief of mission

Ambassador James I. GADSDEN

embassy

Laufasvegur 21, 101 Reykjavik

FAX

[354] 562-9118

mailing address

US Embassy, PSC 1003, Box 40, FPO AE 09728-0340

telephone

[354] 562-9100

Diplomatic representation in the US

chancery

Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704

chief of mission

Ambassador Helgi AGUSTSSON

consulate(s) general

New York

FAX

[1] (202) 265-6656

telephone

[1] (202) 265-6653

Disputes - international

Iceland disputes Denmark's alignment of the Faroe Islands' fisheries median line; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm This page was last updated on 20 October, 2005 ======================================================================

Economic aid - donor

$NA

Economy - overview

Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system (including generous housing subsidies), low unemployment, and remarkably even distribution of income. In the absence of other natural resources (except for abundant geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 8% of the work force. The economy 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. Government policies include 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 remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their fishing resources. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, and new developments in software production, biotechnology, and financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism and whale watching. Growth had been remarkably steady in 1996-2001 at 3%-5%, but could not be sustained in 2002 in an environment of global recession. Growth resumed in 2003, and estimates call for strong growth until 2007, slowly dropping until the end of the decade.

Electricity - consumption

7.692 billion kWh (2002)

Electricity - exports

0 kWh (2002)

Electricity - imports

0 kWh (2002)

Electricity - production

8.271 billion kWh (2002)

Electricity - production by source

fossil fuel

0.1%

hydro

82.5%

nuclear

0%

other

17.5% (geothermal) (2001)

Elevation extremes

highest point

Hvannadalshnukur 2,119 m (at Vatnajokull glacier)

lowest point

Atlantic Ocean 0 m

Environment - current issues

water pollution from fertilizer runoff; inadequate wastewater treatment

Environment - 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 signed, but not ratified: Environmental Modification, Marine Life Conservation

Ethnic groups

homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%

Exchange rates

Icelandic kronur per US dollar - 70.192 (2004), 76.709 (2003), 91.662 (2002), 97.425 (2001), 78.616 (2000)

Executive branch

cabinet

Cabinet appointed by the prime minister and approved by parliament

chief of state

President Olafur Ragnar GRIMSSON (since 1 August 1996)

election results

Olafur Ragnar GRIMSSON wins with 85.6% of the vote, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%

elections

president, which is largely a ceremonial post, elected by popular vote for a four-year term; election last held 26 June 2004 (next to be held June 2008); following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister

head of government

Prime Minister Halldor ASGRIMSSON (since 15 September 2004); note - Former Prime Minister David ODDSSON switched positions with former Foreign Minister Halldor ASGRIMMSON

Exports

$2.902 billion f.o.b. (2004 est.)

Exports - commodities

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

Exports - partners

UK 19.1%, Germany 17.2%, Netherlands 11.5%, US 9.8%, Spain 6.8%, Denmark 4.6% (2004)

Fiscal year

calendar year Communications Iceland

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) Economy Iceland

GDP - composition by sector

agriculture

11.2%

industry

9.6%

services

79.2% (2004 est.)

GDP - per capita

purchasing power parity - $31,900 (2004 est.)

GDP - real growth rate

1.8% (2004 est.)

GDP (purchasing power parity)

$9.373 billion (2004 est.)

Geographic coordinates

65 00 N, 18 00 W

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 People Iceland

Government type

constitutional republic

Highways

paved/oiled gravel

4,331 km

total

13,004 km

unpaved

8,673 km (2004)

HIV/AIDS - adult prevalence rate

0.2% (2001 est.)

HIV/AIDS - deaths

less than 100 (2003 est.)

HIV/AIDS - people living with HIV/AIDS

220 (2001 est.)

Household income or consumption by percentage share

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

Imports

$3.307 billion (2004 est.)

Imports - commodities

machinery and equipment, petroleum products; foodstuffs, textiles

Imports - partners

Germany 12.3%, US 9.9%, Norway 9.7%, Denmark 7.9%, UK 7.2%, Sweden 6.7%, Netherlands 6% (2004)

Independence

1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark)

Industrial production growth rate

8.8% (2004 est.)

Industries

fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism

Infant mortality rate

female

3.16 deaths/1,000 live births (2005 est.)

male

3.45 deaths/1,000 live births

total

3.31 deaths/1,000 live births

Inflation rate (consumer prices)

4% (2004 est.)

International organization participation

Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO

Internet country code

.is

Internet hosts

122,175 (2004)

Internet Service Providers (ISPs)

20 (2001)

Internet users

195,000 (2003) Transportation Iceland

Investment (gross fixed)

23.8% of GDP (2004 est.)

Irrigated land

NA sq km

Judicial branch

Supreme Court or Haestirettur (justices are appointed for life by the Minister of Justice); eight district courts (justices are appointed for life by the Minister of Justice)

Labor force

158,100 (2004 est.)

Labor force - by occupation

agriculture, fishing and fish processing 10.3%, industry 18.3%, services 71.4% (2003)

Land boundaries

0 km

Land use

arable land

0.07%

other

99.93% (2001)

permanent crops

0%

Languages

Icelandic, English, Nordic languages, German widely spoken

Legal system

civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction

Legislative branch

unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)

election results

percent of vote by party - Independence Party 33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%, Left-Green Alliance 8.8%, Liberal Party 7.4%; seats by party - Independence Party 22, Social Democratic Alliance 20, Progressive Party 12, Left-Green Alliance 5, Liberal Party 4

elections

last held 10 May 2003 (next to be held by May 2007)

Life expectancy at birth

female

82.34 years (2005 est.)

male

78.13 years

total population

80.19 years

Literacy

definition: age 15 and over can read and write

female

NA% Government Iceland

male

NA%

total population

99.9% (1997 est.)

Location

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

Manpower available for military service

males age 18-49: 69,038 (2005 est.)

Manpower fit for military service

males age 18-49: 56,777 (2005 est.)

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

Median age

female

34.49 years (2005 est.)

male

33.53 years

total

34 years

Merchant marine

by type

cargo 2, passenger/cargo 1

registered in other countries

30 (2005)

total

3 ships (1,000 GRT or over) 4,341 GRT/6,019 DWT

Military - note

defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik Transnational Issues Iceland

Military branches

no regular armed forces; Icelandic National Police, Icelandic Coast Guard (Islenska Landhelgisgaeslan)

Military expenditures - dollar figure

0

National holiday

Independence Day, 17 June (1944)

Nationality

adjective

Icelandic

noun

Icelander(s)

Natural hazards

earthquakes and volcanic activity

Natural resources

fish, hydropower, geothermal power, diatomite

Net migration rate

2.06 migrant(s)/1,000 population (2005 est.)

Oil - consumption

16,300 bbl/day (2001 est.)

Oil - exports

0 bbl/day (2001)

Oil - imports

15,470 bbl/day (2001)

Oil - production

0 bbl/day (2001 est.)

Political parties and leaders

Independence Party or IP [David ODDSSON]; Left-Green Alliance or LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List) or SDA [Ingibjorg Solrun GISLADOTTIR]

Political pressure groups and leaders

NA

Population

296,737 (July 2005 est.)

Population below poverty line

NA%

Population growth rate

0.91% (2005 est.)

Ports and harbors

Grundartangi, Hafnarfjordur, Hornafjordhur, Reykjavik, Seydhisfjordhur

Public debt

35.9% of GDP (2004 est.)

Radio broadcast stations

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

Radios

260,000 (1997)

Religions

Lutheran Church of Iceland 85.5%, Reykjavik Free Church 2.1%, Roman Catholic Church 2%, Hafnarfjorour Free Church 1.5%, other Christian 2.7%, other or unspecified 3.8%, unaffiliated 2.4% (2004)

Reserves of foreign exchange and gold

$935 million (2004)

Sex ratio

at birth

1.04 male(s)/female under 15 years: 1.03 male(s)/female 15-64 years: 1.03 male(s)/female 65 years and over: 0.82 male(s)/female

total population

1 male(s)/female (2005 est.)

Suffrage

18 years of age; universal

Telephone system

domestic

the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links

general assessment

extensive domestic service

international

country code - 354; 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)

Telephones - main lines in use

190,700 (2003)

Telephones - mobile cellular

279,100 (2003)

Television broadcast stations

14 (plus 156 low-power repeaters) (1997)

Televisions

98,000 (1997)

Terrain

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

Total fertility rate

1.92 children born/woman (2005 est.)

Unemployment rate

3.1% (2004 est.)