2020 Edition

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 Althingi, which was 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 the global financial crisis hit Iceland especially hard in the years after 2008. The economy is now on an upward trajectory, primarily thanks to a tourism and construction boom. Literacy, longevity, and social cohesion are first-rate by world standards.

Area

land

100,250 sq km

total

103,000 sq km

water

2,750 sq km

Area - comparative

slightly smaller than Pennsylvania; about the same size as Kentucky

Climate

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

Coastline

4,970 km

Elevation

highest point

Hvannadalshnukur (at Vatnajokull Glacier) 2,110 m

lowest point

Atlantic Ocean 0 m

mean elevation

557 m

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

Irrigated land

0.5 sq km (2022)

Land boundaries

total

0 km

Land use

agricultural land

16.2% (2023 est.)

agricultural land: arable land

arable land: 1.2% (2023 est.)

agricultural land: permanent crops

permanent crops: 0% (2022 est.)

agricultural land: permanent pasture

permanent pasture: 15% (2023 est.)

forest

0.6% (2023 est.)

other

82.6% (2023 est.)

Location

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

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 hazards

earthquakes and volcanic activity volcanism: Iceland is situated on top of a hotspot and experiences severe volcanic activity; Eyjafjallajokull (1,666 m) erupted in 2010, sending ash high into the atmosphere and seriously disrupting European air traffic; scientists continue to monitor nearby Katla (1,512 m), which has a high probability of eruption; 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

Natural resources

fish, hydropower, geothermal power, diatomite

Population distribution

Iceland is almost entirely urban, with half of the population located in and around the capital of Reykjavik; smaller clusters are primarily found along the coast in the north and west

Terrain

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

Age structure

0-14 years

19.8% (male 36,692/female 35,239)

15-64 years

63.2% (male 116,210/female 113,810)

65 years and over

17.1% (2024 est.) (male 29,366/female 32,719)

Alcohol consumption per capita

beer

4.39 liters of pure alcohol (2019 est.)

other alcohols

0 liters of pure alcohol (2019 est.)

spirits

1.22 liters of pure alcohol (2019 est.)

total

7.72 liters of pure alcohol (2019 est.)

wine

2.11 liters of pure alcohol (2019 est.)

Birth rate

12.47 births/1,000 population (2025 est.)

Currently married women (ages 15-49)

48.5% (2023 est.)

Death rate

6.62 deaths/1,000 population (2025 est.)

Dependency ratios

elderly dependency ratio

27 (2024 est.)

potential support ratio

3.7 (2024 est.)

total dependency ratio

58.3 (2024 est.)

youth dependency ratio

31.3 (2024 est.)

Drinking water source

improved: rural

rural: 100% of population (2022 est.)

improved: total

total: 100% of population (2022 est.)

improved: urban

urban: 100% of population (2022 est.)

unimproved: rural

rural: 0% of population (2022 est.)

unimproved: total

total: 0% of population (2022 est.)

unimproved: urban

urban: 0% of population (2022 est.)

Education expenditure

Education expenditure (% GDP)

7.3% of GDP (2022 est.)

Education expenditure (% national budget)

15.7% national budget (2022 est.)

Ethnic groups

Icelandic 78.7%, Polish 5.8%, Danish 1%, Ukrainian 1%, other 13.5% (2024 est.)

Gross reproduction rate

0.94 (2025 est.)

Health expenditure

Health expenditure (as % of GDP)

8.6% of GDP (2022)

Health expenditure (as % of national budget)

16.5% of national budget (2022 est.)

Hospital bed density

2.8 beds/1,000 population (2020 est.)

Infant mortality rate

female

1.4 deaths/1,000 live births

male

1.8 deaths/1,000 live births

total

1.6 deaths/1,000 live births (2025 est.)

Languages

Icelandic, English, Polish, Nordic languages, German

Life expectancy at birth

female

86.3 years

male

81.8 years

total population

84 years (2024 est.)

Major urban areas - population

216,000 REYKJAVIK (capital) (2018)

Maternal mortality ratio

3 deaths/100,000 live births (2023 est.)

Median age

female

38.6 years

male

37.4 years

total

38.2 years (2025 est.)

Mother's mean age at first birth

28.7 years (2020 est.)

Nationality

adjective

Icelandic

noun

Icelander(s)

Net migration rate

2.3 migrant(s)/1,000 population (2025 est.)

Obesity - adult prevalence rate

21.9% (2016)

Physician density

4.37 physicians/1,000 population (2023)

Population

female

181,768

male

182,268

total

364,036 (2024 est.)

Population growth rate

0.82% (2025 est.)

Religions

Evangelical Lutheran Church of Iceland (official) 58.6% Roman Catholic 3.8%, Independent Congregation of Reykjavik 2.6%, Independent Congregation of Hafnarfjordur 1.9%, pagan worship 1.5%, Icelandic Ethical Humanist Association 1.4%, other (includes Zuist and Pentecostal) or unspecified 18.7%, none 7.7% (2024 est.)

Sanitation facility access

improved: rural

rural: 100% of population (2022 est.)

improved: total

total: 100% of population (2022 est.)

improved: urban

urban: 100% of population (2022 est.)

unimproved: rural

rural: 0% of population (2022 est.)

unimproved: total

total: 0% of population (2022 est.)

unimproved: urban

urban: 0% of population (2022 est.)

School life expectancy (primary to tertiary education)

female

20 years (2022 est.)

male

18 years (2022 est.)

total

19 years (2022 est.)

Sex ratio

0-14 years

1.04 male(s)/female

15-64 years

1.02 male(s)/female

65 years and over

0.9 male(s)/female

at birth

1.05 male(s)/female

total population

1 male(s)/female (2024 est.)

Tobacco use

female

8% (2025 est.)

male

7.9% (2025 est.)

total

8% (2025 est.)

Total fertility rate

1.93 children born/woman (2025 est.)

Urbanization

rate of urbanization

0.74% annual rate of change (2020-25 est.)

urban population

94% of total population (2023)

Administrative divisions

64 municipalities (sveitarfelog, singular - sveitarfelagidh); Akranes, Akureyri, Arneshreppur, Asahreppur, Blaskogabyggdh, Bolungarvik, Borgarbyggdh, Dalabyggdh, Dalvikurbyggdh, Eyjafjardharsveit, Eyja-og Miklaholtshreppur, Fjallabyggdh, Fjardhabyggdh, Fljotsdalshreppur, Floahreppur, Gardhabaer, Grimsnes-og Grafningshreppur, Grindavikurbaer, Grundarfjardharbaer, Grytubakkahreppur, Hafnarfjordhur, Horgarsveit, Hrunamannahreppur, Hunathing Vestra, Hunabyggdh, Hvalfjardharsveit, Hveragerdhi, Isafjardharbaer, Kaldrananeshreppur, Kjosarhreppur, Kopavogur, Langanesbyggdh, Mosfellsbaer, Mulathing, Myrdalshreppur, Nordhurthing, Rangarthing Eystra, Rangarthing Ytra, Reykholahreppur, Reykjanesbaer, Reykjavik, Seltjarnarnes, Skaftarhreppur, Skagabyggdh, Skagafjordhur, Skeidha-og Gnupverjahreppur, Skorradalshreppur, Snaefellsbaer, Strandabyggdh, Stykkisholmur, Sudhavikurhreppur, Sudhurnesjabaer, Svalbardhsstrandarhreppur, Sveitarfelagidh Arborg, Sveitarfelagidh Hornafjordhur, Sveitarfelagidh Olfus, Sveitarfelagidh Skagastrond, Sveitarfelagidh Vogar, Talknafjardharhreppur, Thingeyjarsveit, Tjorneshreppur, Vestmannaeyjar, Vesturbyggdh, Vopnafjardharhreppur

Capital

etymology

the name means "smoky bay" in Icelandic and refers to the steam from the hot springs in the area

geographic coordinates

64 09 N, 21 57 W

name

Reykjavik

time difference

UTC 0 (5 hours ahead of Washington, DC, during Standard Time)

Citizenship

citizenship 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

Constitution

amendment process

proposed by the Althingi; passage requires approval by the Althingi and by the next elected Althingi, and confirmation by the president of the republic; proposed amendments to Article 62 of the constitution – that the Evangelical Lutheran Church shall be the state church of Iceland – also require passage by referendum

history

several previous; latest ratified 16 June 1944, effective 17 June 1944 (at independence)

Country name

conventional long form

none

conventional short form

Iceland

etymology

Floki VILGERDARSON, an early Norse explorer of the island in the 10th century, applied the name "Land of Ice," from the local words ís (ice) and land (land)

local long form

none

local short form

Island

Diplomatic representation from the US

chief of mission

Ambassador (vacant); Chargé d’Affaires Erin SAWYER (since January 2025)

email address and website

ReykjavikConsular@state.gov https://is.usembassy.gov/

embassy

Engjateigur 7, 105 Reykjavik

FAX

[354] 562-9118

mailing address

5640 Reykjavik Place, Washington, D.C. 20521-5640

telephone

[354] 595-2200

Diplomatic representation in the US

chancery

House of Sweden, 2900 K Street NW, #509, Washington, DC 20007

chief of mission

Ambassador Svanhildur Hólm VALSDÓTTIR (since 18 September 2024)

email address and website

washington@mfa.is https://www.government.is/diplomatic-missions/embassy-of-iceland-in-washington-d.c/

FAX

[1] (202) 265-6656

telephone

[1] (202) 265-6653

Executive branch

cabinet

Cabinet appointed by the president upon the recommendation of the prime minister

chief of state

President Halla TOMASDOTTIR (since 1 August 2024)

election results

2024: Halla TOMASDOTTIR elected president; percent of vote - Halla TOMASDOTTIR (independent) 34.1%, Katrin JAKOBSDOTTIR (Left-Green Movement) 25.2%, Halla Hrund LOGADOTTIR (independent) 15.7%, Jon GNARR (Social Democratic Alliance) 10.1%, Baldur PORHALLSSON (independent) 8.4%, other 6.5% 2020: Gudni Thorlacius JOHANNESSON reelected president; percent of vote - Gudni Thorlacius JOHANNESSON (independent) 92.2%, Gudmundur Franklin JONSSON (independent) 7.8%

election/appointment process

president directly elected by simple-majority popular vote for a 4-year term (no term limits); following legislative elections, the leader of the majority party or majority coalition becomes prime minister

expected date of next election

June 2028

head of government

Prime Minister Kristrun FROSTADOTTIR (since 21 December 2024)

most recent election date

1 June 2024

Flag

description: blue with a red cross outlined in white extending to the edges of the flag; the cross is shifted to the left in the style of the Dannebrog (Danish flag) meaning: red stands for the island's volcanic fires, white for the snow and ice fields, and blue for the ocean

Government type

unitary parliamentary republic

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)

International law organization participation

has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction

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

Judicial branch

highest court(s)

Supreme Court or Haestirettur (consists of 7 judges)

judge selection and term of office

judges proposed by Ministry of Interior selection committee and appointed by the president for an indefinite period

subordinate courts

Appellate Court or Landsrettur; 8 district courts; Labor Court

Legal system

civil law system influenced by the Danish model

Legislative branch

electoral system

proportional representation

expected date of next election

November 2028

legislative structure

unicameral

legislature name

Parliament (Althingi)

most recent election date

11/30/2024

number of seats

63 (all directly elected)

parties elected and seats per party

Social Democratic Alliance (SDA) (15); Independence Party (IP) (14); Liberal Reform Party (11); People’s Party (10); Center Party (8); Progressive Party (PP) (5)

percentage of women in chamber

46%

scope of elections

full renewal

term in office

4 years

National anthem(s)

history

adopted 1918

lyrics/music

Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON

title

"Lofsongur" (Song of Praise)

National coat of arms

Iceland’s coat of arms is derived from a 13th-century folktale about four guardians who protect the four corners of the nation; the bull protects the northwest, the eagle the northeast, the dragon the southeast, and the rock-giant the southwest; the shield displays the national flag, with red standing for Iceland’s volcanic fires, white for its snow and ice fields, and blue for the ocean

National color(s)

blue, white, red

National heritage

selected World Heritage Site locales

Thingvellir National Park (c); Surtsey (n); Vatnajökull National Park - Dynamic Nature of Fire and Ice (n)

total World Heritage Sites

3 (1 cultural, 2 natural)

National holiday

Independence Day, 17 June (1944)

National symbol(s)

gyrfalcon

Political parties

Center Party or M  Independence Party or D  Liberal Reform Party or C People's Party or F Progressive Party or B  Social Democratic Alliance or S

Suffrage

18 years of age; universal

Agricultural products

milk, chicken, lamb/mutton, barley, potatoes, pork, beef, eggs, other meats, cucumbers/gherkins (2023)

Budget

expenditures

$10.364 billion (2023 est.)

revenues

$10.023 billion (2023 est.)

Current account balance

Current account balance 2022

-$698.165 million (2022 est.)

Current account balance 2023

$290.603 million (2023 est.)

Current account balance 2024

-$845.319 million (2024 est.)

Economic overview

high-income North Atlantic island economy; not an EU member but market integration via European Economic Area (EEA); dominant tourism, fishing, and aluminum industries vulnerable to demand swings and disruption from volcanic activity; inflation remains above target rate; barriers to foreign business access and economic diversification

Exchange rates

Currency

Icelandic kronur (ISK) per US dollar -

Exchange rates 2020

135.422 (2020 est.)

Exchange rates 2021

126.989 (2021 est.)

Exchange rates 2022

135.28 (2022 est.)

Exchange rates 2023

137.943 (2023 est.)

Exchange rates 2024

137.958 (2024 est.)

Exports

Exports 2022

$13.114 billion (2022 est.)

Exports 2023

$13.702 billion (2023 est.)

Exports 2024

$13.916 billion (2024 est.)

Exports - commodities

aluminum, fish, orthopedic appliances, animal meal, iron alloys (2023)

Exports - partners

Netherlands 27%, Germany 11%, USA 10%, UK 8%, Norway 6% (2023)

GDP - composition, by end use

exports of goods and services

43.4% (2023 est.)

government consumption

25.3% (2023 est.)

household consumption

49.3% (2023 est.)

imports of goods and services

-43.3% (2023 est.)

investment in fixed capital

24.8% (2023 est.)

investment in inventories

0.7% (2023 est.)

GDP - composition, by sector of origin

agriculture

4% (2024 est.)

industry

19.4% (2024 est.)

services

65.5% (2024 est.)

GDP (official exchange rate)

$33.463 billion (2024 est.)

Gini Index coefficient - distribution of family income

Gini Index coefficient - distribution of family income 2018

26.6 (2018 est.)

Household income or consumption by percentage share

highest 10%

21.7% (2018 est.)

lowest 10%

3.7% (2018 est.)

Imports

Imports 2022

$13.237 billion (2022 est.)

Imports 2023

$13.63 billion (2023 est.)

Imports 2024

$14.298 billion (2024 est.)

Imports - commodities

refined petroleum, cars, carbon-based electronics, aluminum oxide, computers (2023)

Imports - partners

Norway 11%, China 9%, Germany 9%, Netherlands 8%, USA 7% (2023)

Industrial production growth rate

-2.3% (2024 est.)

Industries

tourism, fish processing; aluminum smelting; geothermal power, hydropower; medical/pharmaceutical products

Inflation rate (consumer prices)

Inflation rate (consumer prices) 2022

8.3% (2022 est.)

Inflation rate (consumer prices) 2023

8.7% (2023 est.)

Inflation rate (consumer prices) 2024

5.9% (2024 est.)

Labor force

248,400 (2024 est.)

Population below poverty line

8.8% (2017 est.)

Public debt

Public debt 2023

80.7% of GDP (2023 est.)

Real GDP (purchasing power parity)

Real GDP (purchasing power parity) 2022

$25.012 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$26.424 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$26.561 billion (2024 est.)

Real GDP growth rate

Real GDP growth rate 2022

9% (2022 est.)

Real GDP growth rate 2023

5.6% (2023 est.)

Real GDP growth rate 2024

0.5% (2024 est.)

Real GDP per capita

Real GDP per capita 2022

$65,500 (2022 est.)

Real GDP per capita 2023

$67,200 (2023 est.)

Real GDP per capita 2024

$65,600 (2024 est.)

Remittances

Remittances 2022

0.7% of GDP (2022 est.)

Remittances 2023

0.7% of GDP (2023 est.)

Remittances 2024

0.7% of GDP (2024 est.)

Reserves of foreign exchange and gold

Reserves of foreign exchange and gold 2022

$5.887 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$5.809 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$6.403 billion (2024 est.)

Taxes and other revenues

23.3% (of GDP) (2023 est.)

Unemployment rate

Unemployment rate 2022

3.8% (2022 est.)

Unemployment rate 2023

3.6% (2023 est.)

Unemployment rate 2024

3.2% (2024 est.)

Youth unemployment rate (ages 15-24)

female

7% (2024 est.)

male

8.3% (2024 est.)

total

7.6% (2024 est.)

Coal

consumption

137,000 metric tons (2023 est.)

exports

81 metric tons (2023 est.)

imports

106,000 metric tons (2023 est.)

Electricity

consumption

19.584 billion kWh (2023 est.)

installed generating capacity

3.005 million kW (2023 est.)

transmission/distribution losses

543 million kWh (2023 est.)

Electricity access

electrification - total population

100% (2022 est.)

Electricity generation sources

geothermal

29.9% of total installed capacity (2023 est.)

hydroelectricity

70.1% of total installed capacity (2023 est.)

Petroleum

refined petroleum consumption

19,000 bbl/day (2024 est.)

Broadband - fixed subscriptions

subscriptions per 100 inhabitants

37 (2023 est.)

total

145,000 (2023 est.)

Broadcast media

state-owned public TV broadcaster (RUV) operates 21 TV channels nationally; every household is required to have RUV, which doubles as the emergency broadcast network; 3 privately owned TV stations; 100% of households have multi-channel services though digital and/or fiber-optic connections; RUV operates 3 national and 4 regional radio stations; 1 privately owned radio conglomerate, Syn (4 stations), broadcasts nationwide; over 20 regional radio stations (2019)

Internet country code

.is

Internet users

percent of population

100% (2023 est.)

Telephones - fixed lines

subscriptions per 100 inhabitants

21 (2023 est.)

total subscriptions

82,000 (2023 est.)

Telephones - mobile cellular

subscriptions per 100 inhabitants

123 (2022 est.)

total subscriptions

478,000 (2023 est.)

Airports

82 (2025)

Civil aircraft registration country code prefix

TF

Heliports

1 (2025)

Merchant marine

by type

general cargo 5, oil tanker 2, other 32

total

39 (2023)

Ports

key ports

Grundartangi, Reykjavik, Seydhisfjordhur, Vestmannaeyjar

large

0

medium

2

ports with oil terminals

5

size unknown

22

small

2

total ports

43 (2024)

very small

17

Military - note

Iceland was one of the original 12 countries to sign the North Atlantic Treaty (also known as the Washington Treaty) in 1949; Iceland is the only NATO member that has no standing military force; defense of Iceland is a NATO commitment, and NATO maintains an air policing presence in Icelandic airspace; Iceland participates in international peacekeeping missions with the civilian-manned Icelandic Crisis Response Unit (ICRU) Iceland also cooperates with the militaries of other regional countries through the Nordic Defense Cooperation (Denmark, Finland, Iceland, Norway, and Sweden) and the Joint Expeditionary Force (Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, the Netherlands, Norway, Sweden and the UK); in 1951, Iceland and the US concluded an agreement to make arrangements regarding the defense of Iceland and for the use of facilities in Iceland to that end (2025)

Military and security forces

no regular military forces; the Icelandic National Police, the regional police forces, and the Icelandic Coast Guard fall under the purview of the Ministry of Justice (2025)

Refugees and internally displaced persons

IDPs

3,700 (2024 est.)

refugees

8,960 (2024 est.)

stateless persons

31 (2024 est.)

Carbon dioxide emissions

from coal and metallurgical coke

376,000 metric tonnes of CO2 (2023 est.)

from petroleum and other liquids

2.725 million metric tonnes of CO2 (2023 est.)

total emissions

3.101 million metric tonnes of CO2 (2023 est.)

Environmental issues

water pollution from fertilizer runoff

Geoparks

global geoparks and regional networks

Katla; Reykjanes (2023)

total global geoparks and regional networks

2

International environmental agreements

party to

Air Pollution, Air Pollution-Persistent Organic Pollutants, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Climate Change-Paris Agreement, Comprehensive Nuclear Test Ban, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping-London Convention, Marine Dumping-London Protocol, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling

signed, but not ratified

Air Pollution-Heavy Metals, Environmental Modification, Marine Life Conservation

Particulate matter emissions

5.8 micrograms per cubic meter (2019 est.)

Total renewable water resources

170 billion cubic meters (2022 est.)

Total water withdrawal

agricultural

300,000 cubic meters (2022 est.)

industrial

198 million cubic meters (2022 est.)

municipal

80 million cubic meters (2022 est.)

Waste and recycling

municipal solid waste generated annually

225,300 tons (2024 est.)

percent of municipal solid waste recycled

55.5% (2022 est.)