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Communications

Airports [time series]

total: 90 usable: 84 with permanent-surface runways: 8 with runways over 3,659 m: 0 with runways 2,440-3,659 m: 1 with runways 1,220-2,439 m: 12

Roadways (Highways) [time series]

11,543 km total; 2,690 km hard surfaced, 8,853 km gravel and earth

Merchant marine [time series]

10 ships (1,000 GRT or over) totaling 35,832 GRT/53,037 DWT; includes 3 cargo, 3 refrigerated cargo, 2 roll-on/roll-off cargo, 1 oil tanker, 1 chemical tanker

Ports [time series]

Reykjavik, Akureyri, Hafnarfjordhur, Keflavik, Seydhisfjordhur, Siglufjordhur, Vestmannaeyjar

Telecommunication systems (Telecommunications) [time series]

adequate domestic service; coaxial and fiber-optical cables and microwave radio relay for trunk network; 140,000 telephones; broadcast stations - 5 AM, 147 (transmitters and repeaters) FM, 202 (transmitters and repeaters) TV; 2 submarine cables; 1 Atlantic Ocean INTELSAT earth station carries all international traffic; a second INTELSAT earth station is scheduled to be operational in 1993

Defense Forces

Military and security forces (Branches) [time series]

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

Military expenditures (Defense expenditures) [time series]

none

Manpower availability [time series]

males age 15-49 69,499; fit for military service 61,798 (1993 est.); no conscription or compulsory military service

Economy

Agricultural products (Agriculture) [time series]

accounts for about 25% of GDP; fishing is most important economic activity, contributing nearly 75% to export earnings; principal crops - potatoes, turnips; livestock - cattle, sheep; self-sufficient in crops; fish catch of about 1.4 million metric tons in 1989

Budget [time series]

revenues $1.8 billion; expenditures $1.9 billion, including capital expenditures of $191 million (1992)

Exchange rates (Currency) [time series]

1 Icelandic krona (IKr) = 100 aurar

Economic aid [time series]

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

Electricity [time series]

1,063,000 kW capacity; 5,165 million kWh produced, 19,940 kWh per capita (1992)

Exchange rates [time series]

Icelandic kronur (IKr) per US$1 - 63.789 (January 1993), 57.546 (1992), 58.996 (1991), 58.284 (1990), 57.042 (1989), 43.014 (1988)

Exports [time series]

$1.5 billion (f.o.b., 1992) commodities: fish and fish products, animal products, aluminum, ferrosilicon, diatomite partners: EC 68% (UK 25%, Germany 12%), US 11%, Japan 8% (1992)

Debt - external (External debt) [time series]

$3.9 billion (1992 est.)

Fiscal year [time series]

calendar year

Imports [time series]

$1.5 billion (c.i.f., 1992) commodities: machinery and transportation equipment, petroleum products, foodstuffs, textiles partners: EC 53% (Germany 14%, Denmark 10%, UK 9%), Norway 14%, US 9% (1992)

Industrial production growth rate (Industrial production) [time series]

growth rate 1.75% (1991 est.)

Industries [time series]

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

Inflation rate (consumer prices) [time series]

3.7% (1992 est.)

Real GDP (purchasing power parity) (National product) [time series]

GDP - purchasing power equivalent - $4.5 billion (1992)

Real GDP per capita (National product per capita) [time series]

$17,400 (1992)

Real GDP growth rate (National product real growth rate) [time series]

-3.3% (1992)

Economic overview (Overview) [time series]

Iceland's Scandinavian-type economy is basically capitalistic, but with an extensive welfare system, relatively low unemployment, and comparatively even distribution of income. The economy is heavily dependent on the fishing industry, which provides nearly 75% of export earnings and employs 12% of the workforce. In the absence of other natural resources - except energy - Iceland's economy is vulnerable to changing world fish prices. Iceland's economy has been in recession since 1988. The recession deepened in 1992 due to severe cutbacks in fishing quotas and falling world prices for the country's main exports: fish and fish products, aluminum, and ferrosilicon. Real GDP declined 3.3% in 1992 and is forecast to contract another 1.5% in 1993. The center-right government's economic goals include reducing the budget and current account deficits, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, diversifying the economy, and privatizing state-owned industries. The recession has led to a wave of bankruptcies and mergers throughout the economy, as well as the highest unemployment of the post-World War II period. The national unemployment rate reached 5% in early 1993, with some parts of the country experiencing unemployment in the 9-10% range. Inflation, previously a serious problem, declined from double digit rates in the 1980s to only 3.7% in 1992.

Unemployment rate [time series]

5% (first quarter 1993)

Geography

Area [time series]

total area: 103,000 km2 land area: 100,250 km2 comparative area: slightly smaller than Kentucky

Climate [time series]

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

Coastline [time series]

4,988 km

Environment - current issues (Environment) [time series]

subject to earthquakes and volcanic activity

Disputes - international (International disputes) [time series]

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

Irrigated land [time series]

NA km2

Land boundaries [time series]

0 km

Land use [time series]

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

Location [time series]

in the North Atlantic Ocean, between Greenland and Norway

Map references [time series]

Arctic Region, Europe, North America, Standard Time Zones of the World

Maritime claims [time series]

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

Natural resources [time series]

fish, hydropower, geothermal power, diatomite

Note [time series]

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

Terrain [time series]

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

Government

Administrative divisions [time series]

23 counties (syslar, singular - sysla) and 14 independent towns*, (kaupstadhir, singular - Borgarfjardharsysla, Dalasysla, Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*, Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*,, Myrasysla, Snaefellsnes-og Hnappadalssysla, Strandasysla, Sudhur-Mulasysla, Sudhur-Thingeyjarsysla, Vesttmannaeyjar*, Vestur-Bardhastrandarsysla,, Vestur-Hunavatnssysla,

Capital [time series]

Reykjavik

Constitution [time series]

16 June 1944, effective 17 June 1944

Digraph [time series]

Diplomatic representation in the US (Diplomatic representation in US) [time series]

chief of mission: (vacant) chancery: 2022 Connecticut Avenue NW, Washington DC 20008 telephone: (202) 265-6653 through 6655 FAX: (202) 265-6656 consulate general: New York

Executive branch (Elections) [time series]

President: last held on 29 June 1988 (next scheduled for June 1996); results - there was no election in 1992 as President Vigdis FINNBOGADOTTIR was unopposed Althing: last held on 20 April 1991 (next to be held by April 1995); results - Independence Party 38.6%, Progressive Party 18.9%, Social Democratic Party 15.5%, People's Alliance 14.4%, Womens List 8.3%, Liberals 1.2%, other 3.1%; seats - (63 total) Independence 26, Progressive 13, Social Democratic 10, People's Alliance 9, Womens List 5

Executive branch [time series]

president, prime minister, Cabinet

Flag [time series]

blue with a red cross outlined in white that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)

Independence [time series]

17 June 1944 (from Denmark)

Judicial branch [time series]

Supreme Court (Haestirettur)

Executive branch (Leaders) [time series]

Chief of State: President Vigdis FINNBOGADOTTIR (since 1 August 1980) Head of Government: Prime Minister David ODDSSON (since 30 April 1991)

Legal system [time series]

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

Legislative branch [time series]

unicameral Parliament (Althing)

International organization participation (Member of) [time series]

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

Country name (Names) [time series]

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

National holiday [time series]

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

Political parties (Political parties and leaders) [time series]

Independence Party (conservative), David ODDSSON; Progressive Party, Steingrimur HERMANNSSON; Social Democratic Party, Jon Baldvin HANNIBALSSON; People's Alliance (left socialist), Olafur Ragnar GRIMSSON; Women's List

Suffrage [time series]

18 years of age; universal

Government type (Type) [time series]

republic

Diplomatic representation from the US (US diplomatic representation) [time series]

chief of mission: (vacant); Charge d'Affaires Jon GUNDERSEN embassy: Laufasvegur 21, Box 40, Reykjavik mailing address: USEMB, PSC 1003, Box 40, FPO AE 09728-0340 telephone: [354] (1) 29100 FAX: [354] (1) 29139

People

Birth rate [time series]

16.99 births/1,000 population (1993 est.)

Death rate [time series]

6.74 deaths/1,000 population (1993 est.)

Ethnic groups (Ethnic divisions) [time series]

homogeneous mixture of descendants of Norwegians and Celts

Infant mortality rate [time series]

4 deaths/1,000 live births (1993 est.)

Labor force [time series]

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

Languages [time series]

Icelandic

Life expectancy at birth [time series]

total population: 78.69 years male: 76.45 years female: 81.04 years (1993 est.)

Literacy [time series]

age 15 and over can read and write (1976) total population: 100% male: NA% female: NA%

Nationality [time series]

noun: Icelander(s) adjective: Icelandic

Net migration rate [time series]

-1.47 migrant(s)/1,000 population (1993 est.)

Population [time series]

261,270 (July 1993 est.) note: population data estimates based on average growth rate may differ slightly from official population data because of volatile migration rates

Population growth rate [time series]

0.88% (1993 est.)

Religions [time series]

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

Total fertility rate [time series]

2.16 children born/woman (1993 est.)