Europe :: Iceland

- Introduction :: Iceland
- 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, 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. The economy is now on an upward trajectory, fueled primarily by a tourism and construction boom. Literacy, longevity, and social cohesion are first rate by world standards.
- Geography :: Iceland
- Location:
  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 references:
  Arctic Region
  Area:
  total: 103,000 sq km
  land: 100,250 sq km
  water: 2,750 sq km
  country comparison to the world: 109
  Area - comparative:
  slightly smaller than Pennsylvania; about the same size as Kentucky
  Land boundaries:
  0 km
  Coastline:
  4,970 km
  Maritime claims:
  territorial 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
  Elevation:
  mean elevation: 557 m
  elevation extremes: 0 m lowest point: Atlantic Ocean
  2110 highest point: Hvannadalshnukur (at Vatnajokull Glacier)
  Natural resources:
  fish, hydropower, geothermal power, diatomite
  Land use:
  agricultural land: 18.7% (2011 est.)
  arable land: 1.2% (2011 est.) / permanent crops: 0% (2011 est.) / permanent pasture: 17.5% (2011 est.)
  forest: 0.3% (2011 est.)
  other: 81% (2011 est.)
  Irrigated land:
  NA
  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
  Natural hazards:

  earthquakes and volcanic activity

  volcanism: Iceland, situated on top of a hotspot, 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 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

  Environment - current issues:
  water pollution from fertilizer runoff
  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, Whaling
  signed, but not ratified: Environmental Modification, Marine Life Conservation
  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 and Society :: Iceland
- Population:
  343,518 (July 2018 est.)
  country comparison to the world: 178
  Nationality:
  noun: Icelander(s)
  adjective: Icelandic
  Ethnic groups:
  homogeneous mixture of descendants of Norse and Celts 81%, population with foreign background 19% (2018 est.)
  note: population with foreign backgroun includes immigrants and persons having at least one parent who was born abroad
  Languages:
  Icelandic, English, Nordic languages, German
  Religions:
  Evangelical Lutheran Church of Iceland (official) 67.2%, Roman Catholic 3.9%, Reykjavik Free Church 2.8%, Hafnarfjordur Free Church 2%, Asatru Association 1.2%, The Independent Congregation .9, other religions 4% (includes Zuist and Pentecostal), none 6.7%, other or unspecified 11.3% (2018 est.)
  Age structure:
  0-14 years: 20.4% (male 35,812 /female 34,249)
  15-24 years: 13.22% (male 22,952 /female 22,444)
  25-54 years: 39.76% (male 69,177 /female 67,401)
  55-64 years: 11.87% (male 20,350 /female 20,426)
  65 years and over: 14.76% (male 23,822 /female 26,885) (2018 est.)
  population pyramid:
  The World Factbook Field Image Modal
  Europe :: Iceland Print
  Image Description
  This is the population pyramid for Iceland. A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends.
  For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab.
  Dependency ratios:
  total dependency ratio: 51.6 (2015 est.)
  youth dependency ratio: 30.8 (2015 est.)
  elderly dependency ratio: 20.8 (2015 est.)
  potential support ratio: 4.8 (2015 est.)
  Median age:
  total: 36.7 years
  male: 36.1 years
  female: 37.3 years (2018 est.)
  country comparison to the world: 73
  Population growth rate:
  1.08% (2018 est.)
  country comparison to the world: 103
  Birth rate:
  13.6 births/1,000 population (2018 est.)
  country comparison to the world: 140
  Death rate:
  6.5 deaths/1,000 population (2018 est.)
  country comparison to the world: 142
  Net migration rate:
  4 migrant(s)/1,000 population (2017 est.)
  country comparison to the world: 27
  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
  Urbanization:
  urban population: 93.8% of total population (2018)
  rate of urbanization: 0.81% annual rate of change (2015-20 est.)
  Major urban areas - population:
  216,000 REYKJAVIK (capital) (2018)
  Sex ratio:
  at birth: 1.05 male(s)/female (2017 est.)
  0-14 years: 1.05 male(s)/female (2017 est.)
  15-24 years: 1.03 male(s)/female (2017 est.)
  25-54 years: 1.02 male(s)/female (2017 est.)
  55-64 years: 1.01 male(s)/female (2017 est.)
  65 years and over: 0.88 male(s)/female (2017 est.)
  total population: 1.01 male(s)/female (2017 est.)
  Mother's mean age at first birth:
  27.4 years (2015 est.)
  Maternal mortality rate:
  3 deaths/100,000 live births (2015 est.)
  country comparison to the world: 183
  Infant mortality rate:
  total: 2.1 deaths/1,000 live births (2018 est.)
  male: 2.2 deaths/1,000 live births (2018 est.)
  female: 2 deaths/1,000 live births (2018 est.)
  country comparison to the world: 221
  Life expectancy at birth:
  total population: 83.1 years (2018 est.)
  male: 80.9 years (2018 est.)
  female: 85.5 years (2018 est.)
  country comparison to the world: 7
  Total fertility rate:
  1.99 children born/woman (2018 est.)
  country comparison to the world: 120
  Health expenditures:
  8.9% of GDP (2014)
  country comparison to the world: 42
  Physicians density:
  3.79 physicians/1,000 population (2015)
  Hospital bed density:
  3.4 beds/1,000 population (2015)
  Drinking water source:
  improved: urban: 100% of population
  rural: 100% of population
  total: 100% of population
  unimproved: urban: 0% of population
  rural: 0% of population
  total: 0% of population (2015 est.)
  Sanitation facility access:
  improved: urban: 98.7% of population (2015 est.)
  rural: 100% of population (2015 est.)
  total: 98.8% of population (2015 est.)
  unimproved: urban: 1.3% of population (2015 est.)
  rural: 0% of population (2015 est.)
  total: 1.2% of population (2015 est.)
  HIV/AIDS - adult prevalence rate:
  NA
  HIV/AIDS - people living with HIV/AIDS:
  NA
  HIV/AIDS - deaths:
  NA
  Obesity - adult prevalence rate:
  21.9% (2016)
  country comparison to the world: 83
  Education expenditures:
  7.8% of GDP (2013)
  country comparison to the world: 9
  School life expectancy (primary to tertiary education):
  total: 20 years (2013)
  male: 18 years (2013)
  female: 21 years (2013)
  Unemployment, youth ages 15-24:
  total: 6.5% (2016 est.)
  male: 6.7% (2016 est.)
  female: 6.3% (2016 est.)
  country comparison to the world: 149
- Government :: Iceland
- Country name:
  conventional 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 (9th century), 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
  Capital:
  name: Reykjavik
  geographic coordinates: 64 09 N, 21 57 W
  time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
  Administrative divisions:
  74 municipalities (sveitarfelog, singular - sveitarfelagidh); Akrahreppur, Akraneskaupstadhur, Akureyrarkaupstadhur, Arneshreppur, Asahreppur, Blaskogabyggdh, Blonduosbaer, Bolungarvikurkaupstadhur, Borgarbyggdh, Borgarfjardharhreppur, Breidhdalshreppur, Dalabyggdh, Dalvikurbyggdh, Djupavogshreppur, Eyjafjardharsveit, Eyja-og Miklaholtshreppur, Fjallabyggdh, Fjardhabyggdh, Fljotsdalsheradh, Fljotsdalshreppur, Floahreppur, Gardhabaer, Grimsnes-og Grafningshreppur, Grindavikurbaer, Grundarfjardharbaer, Grytubakkahreppur, Hafnarfjardharkaupstadhur, Helgafellssveit, Horgarsveit, Hrunamannahreppur, Hunathing Vestra, Hunavatnshreppur, Hvalfjardharsveit, Hveragerdhisbaer, Isafjardharbaer, Kaldrananeshreppur, Kjosarhreppur, Kopavogsbaer, Langanesbyggdh, Mosfellsbaer, Myrdalshreppur, Nordhurthing, Rangarthing Eystra, Rangarthing Ytra, Reykholahreppur, Reykjanesbaer, Reykjavikurborg, Sandgerdhisbaer, Seltjarnarnesbaer, Seydhisfjardharkaupstadhur, Skaftarhreppur, Skagabyggdh, Skeidha-og Gnupverjahreppur, Skorradalshreppur, Skutustadhahreppur, Snaefellsbaer, Strandabyggdh, Stykkisholmsbaer, Sudhavikurhreppur, Svalbardhshreppur, Svalbardhsstrandarhreppur, Sveitarfelagidh Arborg, Sveitarfelagidh Gardhur, Sveitarfelagidh Hornafjordhur, Sveitarfelagidh Olfus, Sveitarfelagidh Skagafjordhur, Sveitarfelagidh Skagastrond, Sveitarfelagidh Vogar, Talknafjardharhreppur, Thingeyjarsveit, Tjorneshreppur, Vestmannaeyjabaer, Vesturbyggdh, Vopnafjardharhreppur
  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)
  National holiday:
  Independence Day, 17 June (1944)
  Constitution:
  history: several previous; latest ratified 16 June 1944, effective 17 June 1944 (at independence) (2016)
  amendments: 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; 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
  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
  Suffrage:
  18 years of age; universal
  Judicial branch:
  highest courts: Supreme Court or Haestirettur (consists of 9 judges)
  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: Appellate Court or Landsrettur; 8 district courts; Labor Court
  Executive branch:
  chief of state: President Gudni Thorlacius JOHANNESSON (since 1 August 2016)
  head of government: Prime Minister Katrin JAKOBSDOTTIR (since 30 November 2017)
  cabinet: Cabinet appointed by the prime minister
  elections/appointments: president directly elected by simple majority popular vote for a 4-year term (no term limits); 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 (IP) 39.1%, Halla TOMASDOTTIR (independent) 27.9%, Andri Snaer MAGNASON (independent) 14.3%, David ODDSSON (IP) 13.7%, Sturla JONSSON (Sturla Jonsson) 3.5%, invalid 1.5%
  Legislative branch:
  description: unicameral Althingi or Parliament (63 seats; members directly elected in multi-seat constituencies by proportional representation vote to serve 4-year terms)
  elections: last held on 28 October 2017 (next to be held in 2021)
  election results: percent of vote by party - IP 25.2%, LGM 16.9%, SDA 12.1%, CP 10.9%, PP 10.7%, Pirate Party 9.2%, People's Party 6.9%, Reform Party 6.7%. other 1.5%; seats by party - IP 16, LGM 11, SDA 7, CP 7, PP 8, Pirate Party 6, Reform Party 4, People's Party 4
  Political parties and leaders:
  Bright Future (Bjort framtid) or BF [Biort OLAFSDOTTIR]
  Centrist Party (Midflokkurinn) or CP [Sigmundur David GUNNLAUGSSON]
  Independence Party (Sjalfstaedisflokkurinn) or IP [Bjarni BENEDIKTSSON]
  Left-Green Movement (Vinstrihreyfingin-graent frambod) or LGM [Katrin JAKOBSDOTTIR]
  People's Party (Flokkur Folksins) [Inga SAELAND]
  Pirate Party (Piratar) [Birgitta JONSDOTTIR]
  Progressive Party (Framsoknarflokkurinn) or PP [Sigurdur Ingi JOHANNSSON]
  Reform Party (Vidreisn) [Thorgerdur Katrin GUNNARSDOTTIR]
  Social Democratic Alliance (Samfylkingin) or SDA [Logi Mar EINARSSON]
  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 representation in the US:
  chief of mission: Ambassador Geir Hilmar HAARDE (since 23 February 2015)
  chancery: House of Sweden, 2900 K Street NW #509, Washington, DC 20007
  telephone: [1] (202) 265-6653
  FAX: [1] (202) 265-6656
  consulate(s) general: New York
  Diplomatic representation from the US:
  chief of mission: Ambassador (vacant); Charge d'Affaires Jill ESPOSITO (since 20 January 2017)
  embassy: Laufasvegur 21, 101 Reykjavik
  mailing address: US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640
  telephone: [354] 595-2200
  FAX: [354] 562-9118
  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 symbol(s):
  gyrfalcon; national colors: blue, white, red
  National anthem:
  name: "Lofsongur" (Song of Praise)
  lyrics/music: Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON

  note: adopted 1944; also known as "O, Gud vors lands" (O, God of Our Land), the anthem was originally written and performed in 1874

- Economy :: Iceland
- Economy - overview:

  Iceland's 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 in recent years achieved high growth, low unemployment, and a remarkably even distribution of income. 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. 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.

  Tourism, aluminum smelting, and fishing are the pillars of the economy. For decades the Icelandic economy depended heavily on fisheries, but tourism has now surpassed fishing and aluminum as Iceland’s main export industry. Tourism accounted for 8.6% of Iceland’s GDP in 2016, and 39% of total exports of merchandise and services. From 2010 to 2017, the number of tourists visiting Iceland increased by nearly 400%. Since 2010, tourism has become a main driver of Icelandic economic growth, with the number of tourists reaching 4.5 times the Icelandic population in 2016. Iceland remains sensitive to fluctuations in world prices for its main exports, and to fluctuations in the exchange rate of the Icelandic Krona.

  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 nearly nine times the country's GDP, became unsustainable. Iceland's three largest banks collapsed in late 2008. 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. Capital controls were lifted in March 2017, but some financial protections, such as reserve requirements for specified investments connected to new inflows of foreign currency, remain in place.

  GDP (purchasing power parity):
  $18.18 billion (2017 est.)
  $17.48 billion (2016 est.)
  $16.29 billion (2015 est.)

  note: data are in 2017 dollars

  country comparison to the world: 153
  GDP (official exchange rate):
  $24.48 billion (2017 est.) (2017 est.)
  GDP - real growth rate:
  4% (2017 est.)
  7.4% (2016 est.)
  4.5% (2015 est.)
  country comparison to the world: 77
  GDP - per capita (PPP):
  $52,200 (2017 est.)
  $51,700 (2016 est.)
  $48,900 (2015 est.)

  note: data are in 2017 dollars

  country comparison to the world: 25
  Gross national saving:
  25.8% of GDP (2017 est.)
  29.1% of GDP (2016 est.)
  24.5% of GDP (2015 est.)
  country comparison to the world: 52
  GDP - composition, by end use:
  household consumption: 50.4% (2017 est.)
  government consumption: 23.3% (2017 est.)
  investment in fixed capital: 22.1% (2017 est.)
  investment in inventories: 0% (2017 est.)
  exports of goods and services: 47% (2017 est.)
  imports of goods and services: -42.8% (2017 est.)
  GDP - composition, by sector of origin:
  agriculture: 5.8% (2017 est.)
  industry: 19.7% (2017 est.)
  services: 74.6% (2017 est.)
  Agriculture - products:
  potatoes, carrots, green vegetables, tomatoes, cucumbers; mutton, chicken, pork, beef, dairy products; fish
  Industries:
  tourism, fish processing; aluminum smelting;; geothermal power, hydropower; medical/pharmaceutical products
  Industrial production growth rate:
  2.4% (2017 est.)
  country comparison to the world: 120
  Labor force:
  198,700 (2017 est.)
  country comparison to the world: 172
  Labor force - by occupation:
  agriculture: 4.8%
  industry: 22.2%
  services: 73% (2008)
  Unemployment rate:
  2.8% (2017 est.)
  3% (2016 est.)
  country comparison to the world: 30
  Population below poverty line:
  NA

  note: 332,100 families (2011 est.)

  Household income or consumption by percentage share:
  lowest 10%: NA
  highest 10%: NA
  Distribution of family income - Gini index:
  28 (2006)
  25 (2005)
  country comparison to the world: 142
  Budget:
  revenues: 10.39 billion (2017 est.)
  expenditures: 10.02 billion (2017 est.)
  Taxes and other revenues:
  42.4% (of GDP) (2017 est.)
  country comparison to the world: 31
  Budget surplus (+) or deficit (-):
  1.5% (of GDP) (2017 est.)
  country comparison to the world: 22
  Public debt:
  40% of GDP (2017 est.)
  51.7% of GDP (2016 est.)
  country comparison to the world: 126
  Fiscal year:
  calendar year
  Inflation rate (consumer prices):
  1.8% (2017 est.)
  1.7% (2016 est.)
  country comparison to the world: 93
  Central bank discount rate:
  5.4% (31 January 2012)
  5.75% (31 December 2010)
  country comparison to the world: 77
  Commercial bank prime lending rate:
  7.26% (31 December 2017 est.)
  8.24% (31 December 2016 est.)
  country comparison to the world: 116
  Stock of narrow money:
  $4.945 billion (31 December 2017 est.)
  $4.251 billion (31 December 2016 est.)
  country comparison to the world: 106
  Stock of broad money:
  $4.945 billion (31 December 2016 est.)
  $4.251 billion (31 December 2016 est.)
  country comparison to the world: 110
  Stock of domestic credit:
  $24.51 billion (31 December 2017 est.)
  $21.18 billion (31 December 2016 est.)
  country comparison to the world: 86
  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.)
  country comparison to the world: 94
  Current account balance:
  $857 million (2017 est.)
  $1.556 billion (2016 est.)
  country comparison to the world: 52
  Exports:
  $4.957 billion (2017 est.)
  $4.483 billion (2016 est.)
  country comparison to the world: 110
  Exports - partners:
  Netherlands 25.5%, Spain 13.6%, UK 9.4%, Germany 7.6%, US 7%, France 6.3%, Norway 4.9%
  Exports - commodities:
  fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon (2015)
  Imports:
  $6.525 billion (2017 est.)
  $5.315 billion (2016 est.)
  country comparison to the world: 119
  Imports - commodities:
  machinery and equipment, petroleum products, foodstuffs, textiles
  Imports - partners:
  Germany 10.7%, Norway 9.2%, China 7%, Netherlands 6.7%, US 6.4%, Denmark 6.2%, UK 5.7%, Sweden 4.1%
  Reserves of foreign exchange and gold:
  $6.567 billion (31 December 2017 est.)
  $7.226 billion (31 December 2016 est.)
  country comparison to the world: 89
  Debt - external:
  $21.7 billion (31 December 2017 est.)
  $25.02 billion (31 December 2016 est.)
  country comparison to the world: 91
  Stock of direct foreign investment - at home:
  $6.666 billion (31 December 2017 est.)
  $13.89 billion (31 December 2016 est.)
  country comparison to the world: 101
  Stock of direct foreign investment - abroad:
  $11.24 billion (31 December 2017 est.)
  $17.64 billion (31 December 2016 est.)
  country comparison to the world: 63
  Exchange rates:
  Icelandic kronur (ISK) per US dollar -
  111.7 (2017 est.)
  120.81 (2016 est.)
  120.81 (2015 est.)
  131.92 (2014 est.)
  116.77 (2013 est.)
- Energy :: Iceland
- Electricity access:
  electrification - total population: 100% (2016)
  Electricity - production:
  18.17 billion kWh (2016 est.)
  country comparison to the world: 80
  Electricity - consumption:
  17.68 billion kWh (2016 est.)
  country comparison to the world: 73
  Electricity - exports:
  0 kWh (2016 est.)
  country comparison to the world: 148
  Electricity - imports:
  0 kWh (2016 est.)
  country comparison to the world: 160
  Electricity - installed generating capacity:
  2.772 million kW (2016 est.)
  country comparison to the world: 100
  Electricity - from fossil fuels:
  4% of total installed capacity (2016 est.)
  country comparison to the world: 206
  Electricity - from nuclear fuels:
  0% of total installed capacity (2017 est.)
  country comparison to the world: 109
  Electricity - from hydroelectric plants:
  71% of total installed capacity (2017 est.)
  country comparison to the world: 16
  Electricity - from other renewable sources:
  25% of total installed capacity (2017 est.)
  country comparison to the world: 29
  Crude oil - production:
  0 bbl/day (2017 est.)
  country comparison to the world: 150
  Crude oil - exports:
  0 bbl/day (2017 est.)
  country comparison to the world: 139
  Crude oil - imports:
  0 bbl/day (2017 est.)
  country comparison to the world: 143
  Crude oil - proved reserves:
  0 bbl (1 January 2018 est.)
  country comparison to the world: 147
  Refined petroleum products - production:
  0 bbl/day (2017 est.)
  country comparison to the world: 159
  Refined petroleum products - consumption:
  20,850 bbl/day (2017 est.)
  country comparison to the world: 139
  Refined petroleum products - exports:
  2,530 bbl/day (2017 est.)
  country comparison to the world: 101
  Refined petroleum products - imports:
  20,220 bbl/day (2017 est.)
  country comparison to the world: 120
  Natural gas - production:
  0 cu m (2017 est.)
  country comparison to the world: 148
  Natural gas - consumption:
  0 cu m (2017 est.)
  country comparison to the world: 160
  Natural gas - exports:
  0 cu m (2017 est.)
  country comparison to the world: 123
  Natural gas - imports:
  0 cu m (2017 est.)
  country comparison to the world: 140
  Natural gas - proved reserves:
  0 cu m (1 January 2014 est.)
  country comparison to the world: 149
  Carbon dioxide emissions from consumption of energy:
  3.228 million Mt (2017 est.)
  country comparison to the world: 144
- Communications :: Iceland
- Telephones - fixed lines:
  total subscriptions: 146,213 (2017 est.)
  subscriptions per 100 inhabitants: 43 (2017 est.)
  country comparison to the world: 129
  Telephones - mobile cellular:
  total subscriptions: 410,662 (2017 est.)
  subscriptions per 100 inhabitants: 121 (2017 est.)
  country comparison to the world: 174
  Telephone system:
  general assessment: telecommunications infrastructure is modern and fully digitized, with satellite-earth stations, fiber-optic cables, and an extensive broadband network; LTE licenses providing 99% population coverage (2017)
  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; 43 per 100 for fixed line and 121 per 100 for mobile-cellular subscriptions (2017)
  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 (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)
  Broadcast media:
  state-owned public TV broadcaster (RUV) operates 1 TV channel nationally; several privately owned TV stations broadcast nationally and roughly another half-dozen operate locally; about one-half of 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)
  Internet country code:
  .is
  Internet users:
  total: 329,967 (July 2016 est.)
  percent of population: 98.2% (July 2016 est.)
  country comparison to the world: 156
  Broadband - fixed subscriptions:
  total: 133,574 (2017 est.)
  subscriptions per 100 inhabitants: 39 (2017 est.)
  country comparison to the world: 116
- Transportation :: Iceland
- National air transport system:
  number of registered air carriers: 5 (2015)
  inventory of registered aircraft operated by air carriers: 43 (2015)
  annual passenger traffic on registered air carriers: 3,413,950 (2015)
  annual freight traffic on registered air carriers: 102,356,809 mt-km (2015)
  Civil aircraft registration country code prefix:
  TF (2016)
  Airports:
  96 (2013)
  country comparison to the world: 59
  Airports - with paved runways:
  total: 7 (2017)
  over 3,047 m: 1 (2017)
  1,524 to 2,437 m: 3 (2017)
  914 to 1,523 m: 3 (2017)
  Airports - with unpaved runways:
  total: 89 (2013)
  1,524 to 2,437 m: 3 (2013)
  914 to 1,523 m: 26 (2013)
  under 914 m: 60 (2013)
  Roadways:
  total: 12,890 km (2012)
  paved/oiled gravel: 4,782 km (excludes urban roads) (2012)
  unpaved: 8,108 km (2012)
  country comparison to the world: 128
  Merchant marine:
  total: 33 (2017)
  by type: general cargo 6, oil tanker 1, other 26 (2017)
  country comparison to the world: 126
  Ports and terminals:
  major seaport(s): Grundartangi, Hafnarfjordur, Reykjavik
- Military and Security :: Iceland
- Military expenditures:
  0.1% of GDP (2016)
  0.13% of GDP (2012)
  0.14% of GDP (2011)
  0.13% of GDP (2010)
  country comparison to the world: 154
  Military branches:
  no regular military forces; Icelandic National Police; Icelandic Coast Guard (2018)
  Military - note:
  Iceland is the only NATO member that has no standing military force; all US military forces in Iceland were withdrawn as of October 2006; defense of Iceland remains 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)
- Transnational Issues :: Iceland
- Disputes - international:
  Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nmthe 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 persons:
  stateless persons: 85 (2017)