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Europe :: Iceland Print
Page last updated on December 31, 2018
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Europe :: Iceland Print
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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
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Europe :: Iceland Print
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Europe :: Iceland
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Almannagja, the exposed eastern boundary of the North American geologic plate, Thingvellir National Park.
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Almannagja, a large canyon-like fault in Thingvellir National Park, is actually the exposed eastern boundary of the North American geologic plate.
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A dike (volcanic feeder tube) merging into layered strata in Thingvellir National Park.
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Downchannel from the volcanic dike in Thingvellir National Park.
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Mini stream between banks of eroding basalt in Thingvellir National Park.
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Rainbow envelopes the peak of Hekla volcano.
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Snow-filled crater from the 2000 eruption of Hekla volcano.
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Pyroclastic rock bombs scattered about a crater in the Hekla Mountain Range.
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Descent down Hekla across the snowpack. Hekla is a stratovolcano located in the south of Iceland; it is one of the island's most active volcanoes, having erupted more than 20 times since the ninth century A.D.
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Descent down Hekla across the snowpack. Hekla is an active volcano located in the south of Iceland; it is 1,491 m (4,892 ft) high.
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A hauntingly luminous view down the southwest flank of Hekla volcano.
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A geyser field and stream runoff.
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An azure blue hot pool.
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The many channels of a glacial river.
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On 21 May 2011, Grimsvoetn volcano rumbled to life and sent off a plume of ash and steam about 20 km (12 mi) into the atmosphere. Above Grimsvoetn's summit, volcanic ash formed a circular brown plume that towered above the surrounding clouds. In the southeast, ash colored the snow surface dark brown. Ash from the volcano also reduced visibility to about 50 m (160 ft) in some areas, causing night-like darkness in the middle of the day. Image courtesy of NASA.
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Plumes of dust blowing off the southern coast of Iceland in late June 2007. The dust appears as grayish blurs emanating from the coast southward over the North Atlantic Ocean. Blue-green algal blooms also fringe the coastline. Relatively light winter snow in 2006-07 followed by arid spring weather created the conditions for this dust storm. Photo courtesy of NASA.
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The West Fjords are a series of peninsulas in northwestern Iceland, shown in this false-color satellite image. They represent less than one-eighth the country's land area, but their jagged perimeter accounts for more than half of Iceland's total coastline. Black areas represent the sea; light blue snow and ice. Image courtesy of USGS.
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Summer temperatures melt snow and ice on much of Iceland's surface, as shown on this satellite image. The lack of uniform snow cover allows permanent (though shrinking) icefields to show through (particularly Vatnajokull in the southeast), and highlights the island's rugged coastline. Scores of fjords edge the island, resembling feathers waving out into the waters of the northern Atlantic Ocean (bottom) and Greenland Sea (upper left). Though Iceland's climate is relatively mild and humid thanks to the North Atlantic Drift, and though the island's active volcanism provides inexpensive heating, only about the a quarter of the island is habitable, most of that along the coastlines. Photo courtesy of NASA.
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Summer is winding to a close on 9 September 2002, but even Iceland is still showing some summer color, its perimeter tinged with green, while its large permanent ice caps stand out brightly against the volcanic rock surrounding them. The largest ice cap, Vatnajokull, actually rests on top of three active volcanoes. The heat from these volcanoes causes the underside of the ice cap to melt, slowly filling the calderas. Eventually the caldera spills over and releases a torrent of water known as a glacial melt flood. This volcanic activity happens because a tectonic boundary runs roughly northeast-southwest through the island country, and the two plates are pulling away from each other, causing magma to well up from deep in the Earth. The brightly colored lakes and coastal waters are the result of very fine, and highly reflective sediment that is ground to bits by the immense weight of the glaciers and washed out with glacial runoff. Image courtesy of NASA.
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Sunset over a frozen lake-filled caldera.
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An eruption of the geyser Strokkur.
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A river with volcanic black sand banks meanders to the sea through farm fields near the southern coast of Iceland.
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Photo taken from the Eurasian continental plate (foreground rock ledge) looking across to the North American plate and to the Thingvellir, the plains on which the Icelandic republic was founded in 930 and independence declared in 1944. The tabletop mountain on the horizon was formed by a volcanic eruption beneath a glacial ice sheet when Iceland was covered by ice.
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Menntaskolinn i Reykjavik (Reykjavik Junior College). Founded in 1096; building erected in 1846. Oldest school in full-time use in Iceland.
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View of Reykjavik from Perlan Hill.
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City Hall in Reykjavik.
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Hofthi House in Reykjavik, site of the summit between Ronald Reagan and Mikhail Gorbachev in 1986.
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View of Reykjavik from Perlan Hill.
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National Parliament (Althing) building in Reykjavik, erected in 1880-81.
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A roundup of Icelandic horses.
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Hardy Icelandic sheep exhibit a variety of wool colors: white, grays, browns, black, and spotted.
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The Gullfoss Waterfall (Golden Falls) seen from a distance.
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The Gullfoss (Golden Falls) Waterfall in southern Iceland.
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Mist rises above the Gullfoss Waterfall.
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A closeup of the churning Gullfoss Waterfall.
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The Gullfoss Waterfall has a distinctive stairstep configuration.
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Closeup of some of the stairsteps in the Gullfoss Waterfall.
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The thundering waters of the Gullfoss Waterfall.
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Channel downstream from the Gullfoss Waterfall.
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Previous Next

- Introduction :: Iceland
- Background: This entry usually highlights major historic events and current issues and may include a statement about one or two key future trends.
  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: This entry identifies the country's regional location, neighboring countries, and adjacent bodies of water.
  Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom
  Geographic coordinates: This entry includes rounded latitude and longitude figures for the centroid or center point of a country expressed in degrees and minutes; it is based on the locations provided in the Geographic Names Server (GNS), maintained by the National Geospatial-Intelligence Agency on behalf of the US Board on Geographic Names.
  65 00 N, 18 00 W
  Map references: This entry includes the name of the Factbook reference map on which a country may be found. Note that boundary representations on these maps are not necessarily authoritative. The entry on Geographic coordinates may be helpful in finding some smaller countries.
  Arctic Region
  Area: This entry includes three subfields. Total area is the sum of all land and water areas delimited by international boundaries and/or coastlines. Land area is the aggregate of all surfaces delimited by international boundaries and/or coastlines, excluding inland water bodies (lakes, reservoirs, rivers). Water area is the sum of the surfaces of all inland water bodies, such as lakes, reservoirs, or rivers, as delimited by international boundaries and/or coastlines.
  total: 103,000 sq km
  land: 100,250 sq km
  water: 2,750 sq km
  country comparison to the world: 109
  Area - comparative: This entry provides an area comparison based on total area equivalents. Most entities are compared with the entire US or one of the 50 states based on area measurements (1990 revised) provided by the US Bureau of the Census. The smaller entities are compared with Washington, DC (178 sq km, 69 sq mi) or The Mall in Washington, DC (0.59 sq km, 0.23 sq mi, 146 acres).
  slightly smaller than Pennsylvania; about the same size as Kentucky
  Land boundaries: This entry contains the total length of all land boundaries and the individual lengths for each of the contiguous border countries. When available, official lengths published by national statistical agencies are used. Because surveying methods may differ, country border lengths reported by contiguous countries may differ.
  0 km
  Coastline: This entry gives the total length of the boundary between the land area (including islands) and the sea.
  4,970 km
  Maritime claims: This entry includes the following claims, the definitions of which are excerpted from the United Nations Convention on the Law of the Sea (UNCLOS), which alone contains the full and definitive descriptions: territorial sea - the sovereignty of a coastal state extends beyond its land territory and internal waters to an adjacent belt of sea, described as the territorial sea in the UNCLOS (Part II); this sovereignty extends to the air space over the territorial sea as well as its . . . more
  territorial sea: 12 nm
  exclusive economic zone: 200 nm
  continental shelf: 200 nm or to the edge of the continental margin
  Climate: This entry includes a brief description of typical weather regimes throughout the year.
  temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers
  Terrain: This entry contains a brief description of the topography.
  mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords
  Elevation: This entry includes both the mean elevation and the elevation extremes.
  mean elevation: 557 m
  elevation extremes: 0 m lowest point: Atlantic Ocean
  2110 highest point: Hvannadalshnukur (at Vatnajokull Glacier)
  Natural resources: This entry lists a country's mineral, petroleum, hydropower, and other resources of commercial importance, such as rare earth elements (REEs). In general, products appear only if they make a significant contribution to the economy, or are likely to do so in the future.
  fish, hydropower, geothermal power, diatomite
  Land use: This entry contains the percentage shares of total land area for three different types of land use: agricultural land, forest, and other; agricultural land is further divided into arable land - land cultivated for crops like wheat, maize, and rice that are replanted after each harvest, permanent crops - land cultivated for crops like citrus, coffee, and rubber that are not replanted after each harvest, and includes land under flowering shrubs, fruit trees, nut trees, and vines, and permane . . . more
  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: This entry gives the number of square kilometers of land area that is artificially supplied with water.
  NA
  Population distribution: This entry provides a summary description of the population dispersion within a country. While it may suggest population density, it does not provide density figures.
  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: This entry lists potential natural disasters. For countries where volcanic activity is common, a volcanism subfield highlights historically active volcanoes.

  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: This entry lists the most pressing and important environmental problems. The following terms and abbreviations are used throughout the entry: Acidification - the lowering of soil and water pH due to acid precipitation and deposition usually through precipitation; this process disrupts ecosystem nutrient flows and may kill freshwater fish and plants dependent on more neutral or alkaline conditions (see acid rain). Acid rain - characterized as containing harmful levels of sulfur dioxi . . . more
  water pollution from fertilizer runoff
  Environment - international agreements: This entry separates country participation in international environmental agreements into two levels - party to and signed, but not ratified. Agreements are listed in alphabetical order by the abbreviated form of the full name.
  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: This entry includes miscellaneous geographic information of significance not included elsewhere.
  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: This entry gives an estimate from the US Bureau of the Census based on statistics from population censuses, vital statistics registration systems, or sample surveys pertaining to the recent past and on assumptions about future trends. The total population presents one overall measure of the potential impact of the country on the world and within its region. Note: Starting with the 1993 Factbook, demographic estimates for some countries (mostly African) have explicitly taken into account t . . . more
  343,518 (July 2018 est.)
  country comparison to the world: 178
  Nationality: This entry provides the identifying terms for citizens - noun and adjective.
  noun: Icelander(s)
  adjective: Icelandic
  Ethnic groups: This entry provides an ordered listing of ethnic groups starting with the largest and normally includes the percent of total population.
  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: This entry provides a listing of languages spoken in each country and specifies any that are official national or regional languages. When data is available, the languages spoken in each country are broken down according to the percent of the total population speaking each language as a first language. For those countries without available data, languages are listed in rank order based on prevalence, starting with the most-spoken language.
  Icelandic, English, Nordic languages, German
  Religions: This entry is an ordered listing of religions by adherents starting with the largest group and sometimes includes the percent of total population. The core characteristics and beliefs of the world's major religions are described below. Baha'i - Founded by Mirza Husayn-Ali (known as Baha'u'llah) in Iran in 1852, Baha'i faith emphasizes monotheism and believes in one eternal transcendent God. Its guiding focus is to encourage the unity of all peoples on the earth so that justice and peace m . . . more
  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: This entry provides the distribution of the population according to age. Information is included by sex and age group as follows: 0-14 years (children), 15-24 years (early working age), 25-54 years (prime working age), 55-64 years (mature working age), 65 years and over (elderly). The age structure of a population affects a nation's key socioeconomic issues. Countries with young populations (high percentage under age 15) need to invest more in schools, while countries with older population . . . more
  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: Dependency ratios are a measure of the age structure of a population. They relate the number of individuals that are likely to be economically "dependent" on the support of others. Dependency ratios contrast the ratio of youths (ages 0-14) and the elderly (ages 65+) to the number of those in the working-age group (ages 15-64). Changes in the dependency ratio provide an indication of potential social support requirements resulting from changes in population age structures. As fertility lev . . . more
  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: This entry is the age that divides a population into two numerically equal groups; that is, half the people are younger than this age and half are older. It is a single index that summarizes the age distribution of a population. Currently, the median age ranges from a low of about 15 in Niger and Uganda to 40 or more in several European countries and Japan. See the entry for "Age structure" for the importance of a young versus an older age structure and, by implication, a low versus a high . . . more
  total: 36.7 years
  male: 36.1 years
  female: 37.3 years (2018 est.)
  country comparison to the world: 73
  Population growth rate: The average annual percent change in the population, resulting from a surplus (or deficit) of births over deaths and the balance of migrants entering and leaving a country. The rate may be positive or negative. The growth rate is a factor in determining how great a burden would be imposed on a country by the changing needs of its people for infrastructure (e.g., schools, hospitals, housing, roads), resources (e.g., food, water, electricity), and jobs. Rapid population growth can be seen as . . . more
  1.08% (2018 est.)
  country comparison to the world: 103
  Birth rate: This entry gives the average annual number of births during a year per 1,000 persons in the population at midyear; also known as crude birth rate. The birth rate is usually the dominant factor in determining the rate of population growth. It depends on both the level of fertility and the age structure of the population.
  13.6 births/1,000 population (2018 est.)
  country comparison to the world: 140
  Death rate: This entry gives the average annual number of deaths during a year per 1,000 population at midyear; also known as crude death rate. The death rate, while only a rough indicator of the mortality situation in a country, accurately indicates the current mortality impact on population growth. This indicator is significantly affected by age distribution, and most countries will eventually show a rise in the overall death rate, in spite of continued decline in mortality at all ages, as declining . . . more
  6.5 deaths/1,000 population (2018 est.)
  country comparison to the world: 142
  Net migration rate: This entry includes the figure for the difference between the number of persons entering and leaving a country during the year per 1,000 persons (based on midyear population). An excess of persons entering the country is referred to as net immigration (e.g., 3.56 migrants/1,000 population); an excess of persons leaving the country as net emigration (e.g., -9.26 migrants/1,000 population). The net migration rate indicates the contribution of migration to the overall level of population chan . . . more
  4 migrant(s)/1,000 population (2017 est.)
  country comparison to the world: 27
  Population distribution: This entry provides a summary description of the population dispersion within a country. While it may suggest population density, it does not provide density figures.
  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: This entry provides two measures of the degree of urbanization of a population. The first, urban population, describes the percentage of the total population living in urban areas, as defined by the country. The second, rate of urbanization, describes the projected average rate of change of the size of the urban population over the given period of time. Additionally, the World entry includes a list of the ten largest urban agglomerations. An urban agglomeration is defined as comprising th . . . more
  urban population: 93.8% of total population (2018)
  rate of urbanization: 0.81% annual rate of change (2015-20 est.)
  Major urban areas - population: This entry provides the population of the capital and up to six major cities defined as urban agglomerations with populations of at least 750,000 people. An urban agglomeration is defined as comprising the city or town proper and also the suburban fringe or thickly settled territory lying outside of, but adjacent to, the boundaries of the city. For smaller countries, lacking urban centers of 750,000 or more, only the population of the capital is presented.
  216,000 REYKJAVIK (capital) (2018)
  Sex ratio: This entry includes the number of males for each female in five age groups - at birth, under 15 years, 15-64 years, 65 years and over, and for the total population. Sex ratio at birth has recently emerged as an indicator of certain kinds of sex discrimination in some countries. For instance, high sex ratios at birth in some Asian countries are now attributed to sex-selective abortion and infanticide due to a strong preference for sons. This will affect future marriage patterns and fertilit . . . more
  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: This entry provides the mean (average) age of mothers at the birth of their first child. It is a useful indicator for gauging the success of family planning programs aiming to reduce maternal mortality, increase contraceptive use – particularly among married and unmarried adolescents – delay age at first marriage, and improve the health of newborns.
  27.4 years (2015 est.)
  Maternal mortality rate: The maternal mortality rate (MMR) is the annual number of female deaths per 100,000 live births from any cause related to or aggravated by pregnancy or its management (excluding accidental or incidental causes). The MMR includes deaths during pregnancy, childbirth, or within 42 days of termination of pregnancy, irrespective of the duration and site of the pregnancy, for a specified year.
  3 deaths/100,000 live births (2015 est.)
  country comparison to the world: 183
  Infant mortality rate: This entry gives the number of deaths of infants under one year old in a given year per 1,000 live births in the same year. This rate is often used as an indicator of the level of health in a country.
  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: This entry contains the average number of years to be lived by a group of people born in the same year, if mortality at each age remains constant in the future. Life expectancy at birth is also a measure of overall quality of life in a country and summarizes the mortality at all ages. It can also be thought of as indicating the potential return on investment in human capital and is necessary for the calculation of various actuarial measures.
  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: This entry gives a figure for the average number of children that would be born per woman if all women lived to the end of their childbearing years and bore children according to a given fertility rate at each age. The total fertility rate (TFR) is a more direct measure of the level of fertility than the crude birth rate, since it refers to births per woman. This indicator shows the potential for population change in the country. A rate of two children per woman is considered the replaceme . . . more
  1.99 children born/woman (2018 est.)
  country comparison to the world: 120
  Health expenditures: This entry provides the total expenditure on health as a percentage of GDP. Health expenditures are broadly defined as activities performed either by institutions or individuals through the application of medical, paramedical, and/or nursing knowledge and technology, the primary purpose of which is to promote, restore, or maintain health.
  8.9% of GDP (2014)
  country comparison to the world: 42
  Physicians density: This entry gives the number of medical doctors (physicians), including generalist and specialist medical practitioners, per 1,000 of the population. Medical doctors are defined as doctors that study, diagnose, treat, and prevent illness, disease, injury, and other physical and mental impairments in humans through the application of modern medicine. They also plan, supervise, and evaluate care and treatment plans by other health care providers. The World Health Organization estimates that f . . . more
  3.79 physicians/1,000 population (2015)
  Hospital bed density: This entry provides the number of hospital beds per 1,000 people; it serves as a general measure of inpatient service availability. Hospital beds include inpatient beds available in public, private, general, and specialized hospitals and rehabilitation centers. In most cases, beds for both acute and chronic care are included. Because the level of inpatient services required for individual countries depends on several factors - such as demographic issues and the burden of disease - there is . . . more
  3.4 beds/1,000 population (2015)
  Drinking water source: This entry provides information about access to improved or unimproved drinking water sources available to segments of the population of a country. Improved drinking water - use of any of the following sources: piped water into dwelling, yard, or plot; public tap or standpipe; tubewell or borehole; protected dug well; protected spring; or rainwater collection. Unimproved drinking water - use of any of the following sources: unprotected dug well; unprotected spring; cart with small tank or . . . more
  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: This entry provides information about access to improved or unimproved sanitation facilities available to segments of the population of a country. Improved sanitation - use of any of the following facilities: flush or pour-flush to a piped sewer system, septic tank or pit latrine; ventilated improved pit (VIP) latrine; pit latrine with slab; or a composting toilet. Unimproved sanitation - use of any of the following facilities: flush or pour-flush not piped to a sewer system, septic tank . . . more
  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: This entry gives an estimate of the percentage of adults (aged 15-49) living with HIV/AIDS. The adult prevalence rate is calculated by dividing the estimated number of adults living with HIV/AIDS at yearend by the total adult population at yearend.
  NA
  HIV/AIDS - people living with HIV/AIDS: This entry gives an estimate of all people (adults and children) alive at yearend with HIV infection, whether or not they have developed symptoms of AIDS.
  NA
  HIV/AIDS - deaths: This entry gives an estimate of the number of adults and children who died of AIDS during a given calendar year.
  NA
  Obesity - adult prevalence rate: This entry gives the percent of a country's population considered to be obese. Obesity is defined as an adult having a Body Mass Index (BMI) greater to or equal to 30.0. BMI is calculated by taking a person's weight in kg and dividing it by the person's squared height in meters.
  21.9% (2016)
  country comparison to the world: 83
  Education expenditures: This entry provides the public expenditure on education as a percent of GDP.
  7.8% of GDP (2013)
  country comparison to the world: 9
  School life expectancy (primary to tertiary education): School life expectancy (SLE) is the total number of years of schooling (primary to tertiary) that a child can expect to receive, assuming that the probability of his or her being enrolled in school at any particular future age is equal to the current enrollment ratio at that age. Caution must be maintained when utilizing this indicator in international comparisons. For example, a year or grade completed in one country is not necessarily the same in terms of educational content or qualit . . . more
  total: 20 years (2013)
  male: 18 years (2013)
  female: 21 years (2013)
  Unemployment, youth ages 15-24: This entry gives the percent of the total labor force ages 15-24 unemployed during a specified year.
  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: This entry includes all forms of the country's name approved by the US Board on Geographic Names (Italy is used as an example): conventional long form (Italian Republic), conventional short form (Italy), local long form (Repubblica Italiana), local short form (Italia), former (Kingdom of Italy), as well as the abbreviation. Also see the Terminology note.
  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: This entry gives the basic form of government. Definitions of the major governmental terms are as follows. (Note that for some countries more than one definition applies.): Absolute monarchy - a form of government where the monarch rules unhindered, i.e., without any laws, constitution, or legally organized opposition. Anarchy - a condition of lawlessness or political disorder brought about by the absence of governmental authority. Authoritarian - a form of government in whic . . . more
  parliamentary republic
  Capital: This entry gives the name of the seat of government, its geographic coordinates, the time difference relative to Coordinated Universal Time (UTC) and the time observed in Washington, DC, and, if applicable, information on daylight saving time (DST). Where appropriate, a special note has been added to highlight those countries that have multiple time zones.
  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: This entry generally gives the numbers, designatory terms, and first-order administrative divisions as approved by the US Board on Geographic Names (BGN). Changes that have been reported but not yet acted on by the BGN are noted. Geographic names conform to spellings approved by the BGN with the exception of the omission of diacritical marks and special characters.
  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: For most countries, this entry gives the date that sovereignty was achieved and from which nation, empire, or trusteeship. For the other countries, the date given may not represent "independence" in the strict sense, but rather some significant nationhood event such as the traditional founding date or the date of unification, federation, confederation, establishment, fundamental change in the form of government, or state succession. For a number of countries, the establishment of statehood . . . more
  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: This entry gives the primary national day of celebration - usually independence day.
  Independence Day, 17 June (1944)
  Constitution: This entry provides information on a country’s constitution and includes two subfields. The history subfield includes the dates of previous constitutions and the main steps and dates in formulating and implementing the latest constitution. For countries with 1-3 previous constitutions, the years are listed; for those with 4-9 previous, the entry is listed as “several previous,” and for those with 10 or more, the entry is “many previous.” The amendments subfield summarizes the process of am . . . more
  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: This entry provides the description of a country's legal system. A statement on judicial review of legislative acts is also included for a number of countries. The legal systems of nearly all countries are generally modeled upon elements of five main types: civil law (including French law, the Napoleonic Code, Roman law, Roman-Dutch law, and Spanish law); common law (including United State law); customary law; mixed or pluralistic law; and religious law (including Islamic law). An addition . . . more
  civil law system influenced by the Danish model
  International law organization participation: This entry includes information on a country's acceptance of jurisdiction of the International Court of Justice (ICJ) and of the International Criminal Court (ICCt); 59 countries have accepted ICJ jurisdiction with reservations and 11 have accepted ICJ jurisdiction without reservations; 122 countries have accepted ICCt jurisdiction. Appendix B: International Organizations and Groups explains the differing mandates of the ICJ and ICCt.
  has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
  Citizenship: This entry provides information related to the acquisition and exercise of citizenship; it includes four subfields: citizenship by birth describes the acquisition of citizenship based on place of birth, known as Jus soli, regardless of the citizenship of parents. citizenship by descent only describes the acquisition of citizenship based on the principle of Jus sanguinis, or by descent, where at least one parent is a citizen of the state and being born within the territorial limits of the . . . more
  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: This entry gives the age at enfranchisement and whether the right to vote is universal or restricted.
  18 years of age; universal
  Judicial branch: This entry includes three subfields. The highest court(s) subfield includes the name(s) of a country's highest level court(s), the number and titles of the judges, and the types of cases heard by the court, which commonly are based on civil, criminal, administrative, and constitutional law. A number of countries have separate constitutional courts. The judge selection and term of office subfield includes the organizations and associated officials responsible for nominating and appointing j . . . more
  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: This entry includes five subentries: chief of state; head of government; cabinet; elections/appointments; election results. Chief of state includes the name, title, and beginning date in office of the titular leader of the country who represents the state at official and ceremonial functions but may not be involved with the day-to-day activities of the government. Head of government includes the name, title of the top executive designated to manage the executive branch of the government, a . . . more
  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: This entry has three subfields. The description subfield provides the legislative structure (unicameral – single house; bicameral – an upper and a lower house); formal name(s); number of member seats; types of constituencies or voting districts (single seat, multi-seat, nationwide); electoral voting system(s); and member term of office. The elections subfield includes the dates of the last election and next election. The election results subfield lists percent of vote by party/coalition an . . . more
  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: This entry includes a listing of significant political parties, coalitions, and electoral lists as of each country's last legislative election, unless otherwise noted.
  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: This entry lists in alphabetical order by abbreviation those international organizations in which the subject country is a member or participates in some other way.
  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: This entry includes the chief of mission, chancery address, telephone, FAX, consulate general locations, and consulate locations. The use of the annotated title Appointed Ambassador refers to a new ambassador who has presented his/her credentials to the secretary of state but not the US president. Such ambassadors fulfill all diplomatic functions except meeting with or appearing at functions attended by the president until such time as they formally present their credentials at a White Hou . . . more
  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: This entry includes the chief of mission, embassy address, mailing address, telephone number, FAX number, branch office locations, consulate general locations, and consulate locations.
  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: This entry provides a written flag description produced from actual flags or the best information available at the time the entry was written. The flags of independent states are used by their dependencies unless there is an officially recognized local flag. Some disputed and other areas do not have flags.
  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): A national symbol is a faunal, floral, or other abstract representation - or some distinctive object - that over time has come to be closely identified with a country or entity. Not all countries have national symbols; a few countries have more than one.
  gyrfalcon; national colors: blue, white, red
  National anthem: A generally patriotic musical composition - usually in the form of a song or hymn of praise - that evokes and eulogizes the history, traditions, or struggles of a nation or its people. National anthems can be officially recognized as a national song by a country's constitution or by an enacted law, or simply by tradition. Although most anthems contain lyrics, some do not.
  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: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.

  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): This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States in the year noted. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measur . . . more
  $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): This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at official exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis- . . . more
  $24.48 billion (2017 est.) (2017 est.)
  GDP - real growth rate: This entry gives GDP growth on an annual basis adjusted for inflation and expressed as a percent. The growth rates are year-over-year, and not compounded.
  4% (2017 est.)
  7.4% (2016 est.)
  4.5% (2015 est.)
  country comparison to the world: 77
  GDP - per capita (PPP): This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  $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: Gross national saving is derived by deducting final consumption expenditure (household plus government) from Gross national disposable income, and consists of personal saving, plus business saving (the sum of the capital consumption allowance and retained business profits), plus government saving (the excess of tax revenues over expenditures), but excludes foreign saving (the excess of imports of goods and services over exports). The figures are presented as a percent of GDP. A negative . . . more
  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: This entry shows who does the spending in an economy: consumers, businesses, government, and foreigners. The distribution gives the percentage contribution to total GDP of household consumption, government consumption, investment in fixed capital, investment in inventories, exports of goods and services, and imports of goods and services, and will total 100 percent of GDP if the data are complete. household consumption consists of expenditures by resident households, and by nonprofit insti . . . more
  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: This entry shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not prod . . . more
  agriculture: 5.8% (2017 est.)
  industry: 19.7% (2017 est.)
  services: 74.6% (2017 est.)
  Agriculture - products: This entry is an ordered listing of major crops and products starting with the most important.
  potatoes, carrots, green vegetables, tomatoes, cucumbers; mutton, chicken, pork, beef, dairy products; fish
  Industries: This entry provides a rank ordering of industries starting with the largest by value of annual output.
  tourism, fish processing; aluminum smelting;; geothermal power, hydropower; medical/pharmaceutical products
  Industrial production growth rate: This entry gives the annual percentage increase in industrial production (includes manufacturing, mining, and construction).
  2.4% (2017 est.)
  country comparison to the world: 120
  Labor force: This entry contains the total labor force figure.
  198,700 (2017 est.)
  country comparison to the world: 172
  Labor force - by occupation: This entry lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding. more
  agriculture: 4.8%
  industry: 22.2%
  services: 73% (2008)
  Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  2.8% (2017 est.)
  3% (2016 est.)
  country comparison to the world: 30
  Population below poverty line: National estimates of the percentage of the population falling below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  NA

  note: 332,100 families (2011 est.)

  Household income or consumption by percentage share: Data on household income or consumption come from household surveys, the results adjusted for household size. Nations use different standards and procedures in collecting and adjusting the data. Surveys based on income will normally show a more unequal distribution than surveys based on consumption. The quality of surveys is improving with time, yet caution is still necessary in making inter-country comparisons.
  lowest 10%: NA
  highest 10%: NA
  Distribution of family income - Gini index: This index measures the degree of inequality in the distribution of family income in a country. The index is calculated from the Lorenz curve, in which cumulative family income is plotted against the number of families arranged from the poorest to the richest. The index is the ratio of (a) the area between a country's Lorenz curve and the 45 degree helping line to (b) the entire triangular area under the 45 degree line. The more nearly equal a country's income distribution, the closer its . . . more
  28 (2006)
  25 (2005)
  country comparison to the world: 142
  Budget: This entry includes revenues, expenditures, and capital expenditures. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  revenues: 10.39 billion (2017 est.)
  expenditures: 10.02 billion (2017 est.)
  Taxes and other revenues: This entry records total taxes and other revenues received by the national government during the time period indicated, expressed as a percent of GDP. Taxes include personal and corporate income taxes, value added taxes, excise taxes, and tariffs. Other revenues include social contributions - such as payments for social security and hospital insurance - grants, and net revenues from public enterprises. Normalizing the data, by dividing total revenues by GDP, enables easy comparisons acr . . . more
  42.4% (of GDP) (2017 est.)
  country comparison to the world: 31
  Budget surplus (+) or deficit (-): This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relat . . . more
  1.5% (of GDP) (2017 est.)
  country comparison to the world: 22
  Public debt: This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  40% of GDP (2017 est.)
  51.7% of GDP (2016 est.)
  country comparison to the world: 126
  Fiscal year: This entry identifies the beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  calendar year
  Inflation rate (consumer prices): This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  1.8% (2017 est.)
  1.7% (2016 est.)
  country comparison to the world: 93
  Central bank discount rate: This entry provides the annualized interest rate a country's central bank charges commercial, depository banks for loans to meet temporary shortages of funds.
  5.4% (31 January 2012)
  5.75% (31 December 2010)
  country comparison to the world: 77
  Commercial bank prime lending rate: This entry provides a simple average of annualized interest rates commercial banks charge on new loans, denominated in the national currency, to their most credit-worthy customers.
  7.26% (31 December 2017 est.)
  8.24% (31 December 2016 est.)
  country comparison to the world: 116
  Stock of narrow money: This entry, also known as "M1," comprises the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy, measured at a specific point in time. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate moveme . . . more
  $4.945 billion (31 December 2017 est.)
  $4.251 billion (31 December 2016 est.)
  country comparison to the world: 106
  Stock of broad money: This entry covers all of "Narrow money," plus the total quantity of time and savings deposits, credit union deposits, institutional money market funds, short-term repurchase agreements between the central bank and commercial deposit banks, and other large liquid assets held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy. National currency units have been converted to US dollars at the closing exchange r . . . more
  $4.945 billion (31 December 2016 est.)
  $4.251 billion (31 December 2016 est.)
  country comparison to the world: 110
  Stock of domestic credit: This entry is the total quantity of credit, denominated in the domestic currency, provided by financial institutions to the central bank, state and local governments, public non-financial corporations, and the private sector. The national currency units have been converted to US dollars at the closing exchange rate on the date of the information.
  $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: This entry gives the value of shares issued by publicly traded companies at a price determined in the national stock markets on the final day of the period indicated. It is simply the latest price per share multiplied by the total number of outstanding shares, cumulated over all companies listed on the particular exchange.
  $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: This entry records a country's net trade in goods and services, plus net earnings from rents, interest, profits, and dividends, and net transfer payments (such as pension funds and worker remittances) to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  $857 million (2017 est.)
  $1.556 billion (2016 est.)
  country comparison to the world: 52
  Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  $4.957 billion (2017 est.)
  $4.483 billion (2016 est.)
  country comparison to the world: 110
  Exports - partners: This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
  Netherlands 25.5%, Spain 13.6%, UK 9.4%, Germany 7.6%, US 7%, France 6.3%, Norway 4.9%
  Exports - commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon (2015)
  Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  $6.525 billion (2017 est.)
  $5.315 billion (2016 est.)
  country comparison to the world: 119
  Imports - commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  machinery and equipment, petroleum products, foodstuffs, textiles
  Imports - partners: This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
  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: This entry gives the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country's balance of payments needs as of the end-date of the period specified. This category includes not only foreign currency and gold, but also a country's holdings of Special Drawing Rights in the International Monetary Fund, and its reserve position in the Fund.
  $6.567 billion (31 December 2017 est.)
  $7.226 billion (31 December 2016 est.)
  country comparison to the world: 89
  Debt - external: This entry gives the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods, or services. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  $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: This entry gives the cumulative US dollar value of all investments in the home country made directly by residents - primarily companies - of other countries as of the end of the time period indicated. Direct investment excludes investment through purchase of shares.
  $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: This entry gives the cumulative US dollar value of all investments in foreign countries made directly by residents - primarily companies - of the home country, as of the end of the time period indicated. Direct investment excludes investment through purchase of shares.
  $11.24 billion (31 December 2017 est.)
  $17.64 billion (31 December 2016 est.)
  country comparison to the world: 63
  Exchange rates: This entry provides the average annual price of a country's monetary unit for the time period specified, expressed in units of local currency per US dollar, as determined by international market forces or by official fiat. The International Organization for Standardization (ISO) 4217 alphabetic currency code for the national medium of exchange is presented in parenthesis. Closing daily exchange rates are not presented in The World Factbook, but are used to convert stock values - e.g., the . . . more
  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: This entry provides information on access to electricity. Electrification data – collected from industry reports, national surveys, and international sources – consists of four subfields. Population without electricity provides an estimate of the number of citizens that do not have access to electricity. Electrification – total population is the percent of a country’s total population with access to electricity, electrification – urban areas is the percent of a country’s urban population w . . . more
  electrification - total population: 100% (2016)
  Electricity - production: This entry is the annual electricity generated expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.
  18.17 billion kWh (2016 est.)
  country comparison to the world: 80
  Electricity - consumption: This entry consists of total electricity generated annually plus imports and minus exports, expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.
  17.68 billion kWh (2016 est.)
  country comparison to the world: 73
  Electricity - exports: This entry is the total exported electricity in kilowatt-hours.
  0 kWh (2016 est.)
  country comparison to the world: 148
  Electricity - imports: This entry is the total imported electricity in kilowatt-hours.
  0 kWh (2016 est.)
  country comparison to the world: 160
  Electricity - installed generating capacity: This entry is the total capacity of currently installed generators, expressed in kilowatts (kW), to produce electricity. A 10-kilowatt (kW) generator will produce 10 kilowatt hours (kWh) of electricity, if it runs continuously for one hour.
  2.772 million kW (2016 est.)
  country comparison to the world: 100
  Electricity - from fossil fuels: This entry measures the capacity of plants that generate electricity by burning fossil fuels (such as coal, petroleum products, and natural gas), expressed as a share of the country's total generating capacity.
  4% of total installed capacity (2016 est.)
  country comparison to the world: 206
  Electricity - from nuclear fuels: This entry measures the capacity of plants that generate electricity through radioactive decay of nuclear fuel, expressed as a share of the country's total generating capacity.
  0% of total installed capacity (2017 est.)
  country comparison to the world: 109
  Electricity - from hydroelectric plants: This entry measures the capacity of plants that generate electricity by water-driven turbines, expressed as a share of the country's total generating capacity.
  71% of total installed capacity (2017 est.)
  country comparison to the world: 16
  Electricity - from other renewable sources: This entry measures the capacity of plants that generate electricity by using renewable energy sources other than hydroelectric (including, for example, wind, waves, solar, and geothermal), expressed as a share of the country's total generating capacity.
  25% of total installed capacity (2017 est.)
  country comparison to the world: 29
  Crude oil - production: This entry is the total amount of crude oil produced, in barrels per day (bbl/day).
  0 bbl/day (2017 est.)
  country comparison to the world: 150
  Crude oil - exports: This entry is the total amount of crude oil exported, in barrels per day (bbl/day).
  0 bbl/day (2017 est.)
  country comparison to the world: 139
  Crude oil - imports: This entry is the total amount of crude oil imported, in barrels per day (bbl/day).
  0 bbl/day (2017 est.)
  country comparison to the world: 143
  Crude oil - proved reserves: This entry is the stock of proved reserves of crude oil, in barrels (bbl). Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
  0 bbl (1 January 2018 est.)
  country comparison to the world: 147
  Refined petroleum products - production: This entry is the country's total output of refined petroleum products, in barrels per day (bbl/day). The discrepancy between the amount of refined petroleum products produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
  0 bbl/day (2017 est.)
  country comparison to the world: 159
  Refined petroleum products - consumption: This entry is the country's total consumption of refined petroleum products, in barrels per day (bbl/day). The discrepancy between the amount of refined petroleum products produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
  20,850 bbl/day (2017 est.)
  country comparison to the world: 139
  Refined petroleum products - exports: This entry is the country's total exports of refined petroleum products, in barrels per day (bbl/day).
  2,530 bbl/day (2017 est.)
  country comparison to the world: 101
  Refined petroleum products - imports: This entry is the country's total imports of refined petroleum products, in barrels per day (bbl/day).
  20,220 bbl/day (2017 est.)
  country comparison to the world: 120
  Natural gas - production: This entry is the total natural gas produced in cubic meters (cu m). The discrepancy between the amount of natural gas produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes and other complicating factors.
  0 cu m (2017 est.)
  country comparison to the world: 148
  Natural gas - consumption: This entry is the total natural gas consumed in cubic meters (cu m). The discrepancy between the amount of natural gas produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes and other complicating factors.
  0 cu m (2017 est.)
  country comparison to the world: 160
  Natural gas - exports: This entry is the total natural gas exported in cubic meters (cu m).
  0 cu m (2017 est.)
  country comparison to the world: 123
  Natural gas - imports: This entry is the total natural gas imported in cubic meters (cu m).
  0 cu m (2017 est.)
  country comparison to the world: 140
  Natural gas - proved reserves: This entry is the stock of proved reserves of natural gas in cubic meters (cu m). Proved reserves are those quantities of natural gas, which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
  0 cu m (1 January 2014 est.)
  country comparison to the world: 149
  Carbon dioxide emissions from consumption of energy: This entry is the total amount of carbon dioxide, measured in metric tons, released by burning fossil fuels in the process of producing and consuming energy.
  3.228 million Mt (2017 est.)
  country comparison to the world: 144
- Communications :: Iceland
- Telephones - fixed lines: This entry gives the total number of fixed telephone lines in use, as well as the number of subscriptions per 100 inhabitants.
  total subscriptions: 146,213 (2017 est.)
  subscriptions per 100 inhabitants: 43 (2017 est.)
  country comparison to the world: 129
  Telephones - mobile cellular: This entry gives the total number of mobile cellular telephone subscribers, as well as the number of subscriptions per 100 inhabitants. Note that because of the ubiquity of mobile phone use in developed countries, the number of subscriptions per 100 inhabitants can exceed 100.
  total subscriptions: 410,662 (2017 est.)
  subscriptions per 100 inhabitants: 121 (2017 est.)
  country comparison to the world: 174
  Telephone system: This entry includes a brief general assessment of the system with details on the domestic and international components. The following terms and abbreviations are used throughout the entry: Arabsat - Arab Satellite Communications Organization (Riyadh, Saudi Arabia). Autodin - Automatic Digital Network (US Department of Defense). CB - citizen's band mobile radio communications. Cellular telephone system - the telephones in this system are radio transceivers, with each instrument having its o . . . more
  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: This entry provides information on the approximate number of public and private TV and radio stations in a country, as well as basic information on the availability of satellite and cable TV services.
  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: This entry includes the two-letter codes maintained by the International Organization for Standardization (ISO) in the ISO 3166 Alpha-2 list and used by the Internet Assigned Numbers Authority (IANA) to establish country-coded top-level domains (ccTLDs).
  .is
  Internet users: This entry gives the total number of individuals within a country who can access the Internet at home, via any device type (computer or mobile) and connection. The percent of population with Internet access (i.e., the penetration rate) helps gauge how widespread Internet use is within a country. Statistics vary from country to country and may include users who access the Internet at least several times a week to those who access it only once within a period of several months.
  total: 329,967 (July 2016 est.)
  percent of population: 98.2% (July 2016 est.)
  country comparison to the world: 156
  Broadband - fixed subscriptions: This entry gives the total number of fixed-broadband subscriptions, as well as the number of subscriptions per 100 inhabitants. Fixed broadband is a physical wired connection to the Internet (e.g., coaxial cable, optical fiber) at speeds equal to or greater than 256 kilobits/second (256 kbit/s).
  total: 133,574 (2017 est.)
  subscriptions per 100 inhabitants: 39 (2017 est.)
  country comparison to the world: 116
- Transportation :: Iceland
- National air transport system: This entry includes four subfields describing the air transport system of a given country in terms of both structure and performance. The first subfield, number of registered air carriers, indicates the total number of air carriers registered with the country’s national aviation authority and issued an air operator certificate as required by the Convention on International Civil Aviation. The second subfield, inventory of registered aircraft operated by air carriers, lists the total number . . . more
  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: This entry provides the one- or two-character alphanumeric code indicating the nationality of civil aircraft. Article 20 of the Convention on International Civil Aviation (Chicago Convention), signed in 1944, requires that all aircraft engaged in international air navigation bear appropriate nationality marks. The aircraft registration number consists of two parts: a prefix consisting of a one- or two-character alphanumeric code indicating nationality and a registration suffix of one to fi . . . more
  TF (2016)
  Airports: This entry gives the total number of airports or airfields recognizable from the air. The runway(s) may be paved (concrete or asphalt surfaces) or unpaved (grass, earth, sand, or gravel surfaces) and may include closed or abandoned installations. Airports or airfields that are no longer recognizable (overgrown, no facilities, etc.) are not included. Note that not all airports have accommodations for refueling, maintenance, or air traffic control.
  96 (2013)
  country comparison to the world: 59
  Airports - with paved runways: This entry gives the total number of airports with paved runways (concrete or asphalt surfaces) by length. For airports with more than one runway, only the longest runway is included according to the following five groups - (1) over 3,047 m (over 10,000 ft), (2) 2,438 to 3,047 m (8,000 to 10,000 ft), (3) 1,524 to 2,437 m (5,000 to 8,000 ft), (4) 914 to 1,523 m (3,000 to 5,000 ft), and (5) under 914 m (under 3,000 ft). Only airports with usable runways are included in this listing. Not all . . . more
  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: This entry gives the total number of airports with unpaved runways (grass, dirt, sand, or gravel surfaces) by length. For airports with more than one runway, only the longest runway is included according to the following five groups - (1) over 3,047 m (over 10,000 ft), (2) 2,438 to 3,047 m (8,000 to 10,000 ft), (3) 1,524 to 2,437 m (5,000 to 8,000 ft), (4) 914 to 1,523 m (3,000 to 5,000 ft), and (5) under 914 m (under 3,000 ft). Only airports with usable runways are included in this listin . . . more
  total: 89 (2013)
  1,524 to 2,437 m: 3 (2013)
  914 to 1,523 m: 26 (2013)
  under 914 m: 60 (2013)
  Roadways: This entry gives the total length of the road network and includes the length of the paved and unpaved portions.
  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: Merchant marine may be defined as all ships engaged in the carriage of goods; or all commercial vessels (as opposed to all nonmilitary ships), which excludes tugs, fishing vessels, offshore oil rigs, etc. This entry contains information in four fields - total, ships by type, foreign-owned, and registered in other countries. Total includes the number of ships (1,000 GRT or over), total DWT for those ships, and total GRT for those ships. DWT or dead weight tonnage is the total weight of ca . . . more
  total: 33 (2017)
  by type: general cargo 6, oil tanker 1, other 26 (2017)
  country comparison to the world: 126
  Ports and terminals: This entry lists major ports and terminals primarily on the basis of the amount of cargo tonnage shipped through the facilities on an annual basis. In some instances, the number of containers handled or ship visits were also considered. Most ports service multiple classes of vessels including bulk carriers (dry and liquid), break bulk cargoes (goods loaded individually in bags, boxes, crates, or drums; sometimes palletized), containers, roll-on/roll-off, and passenger ships. The listing le . . . more
  major seaport(s): Grundartangi, Hafnarfjordur, Reykjavik
- Military and Security :: Iceland
- Military expenditures: This entry gives spending on defense programs for the most recent year available as a percent of gross domestic product (GDP); the GDP is calculated on an exchange rate basis, i.e., not in terms of purchasing power parity (PPP). For countries with no military forces, this figure can include expenditures on public security and police.
  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: This entry lists the service branches subordinate to defense ministries or the equivalent (typically ground, naval, air, and marine forces).
  no regular military forces; Icelandic National Police; Icelandic Coast Guard (2018)
  Military - note: This entry includes miscellaneous military information of significance not included elsewhere.
  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: This entry includes a wide variety of situations that range from traditional bilateral boundary disputes to unilateral claims of one sort or another. Information regarding disputes over international terrestrial and maritime boundaries has been reviewed by the US Department of State. References to other situations involving borders or frontiers may also be included, such as resource disputes, geopolitical questions, or irredentist issues; however, inclusion does not necessarily constitute . . . more
  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: This entry includes those persons residing in a country as refugees, internally displaced persons (IDPs), or stateless persons. Each country's refugee entry includes only countries of origin that are the source of refugee populations of 5,000 or more. The definition of a refugee according to a UN Convention is "a person who is outside his/her country of nationality or habitual residence; has a well-founded fear of persecution because of his/her race, religion, nationality, membership in a . . . more
  stateless persons: 85 (2017)

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