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Communications

Broadcast media (Radio broadcast stations) [time series]

AM 5, FM 147 (transmitters and repeaters), shortwave 0

Radios [time series]

91,500 licensed (1993 est.)

Telecommunication systems (Telephone system) [time series]

adequate domestic service domestic: the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links international: satellite earth stations--2 Intelsat (Atlantic Ocean), 1 Inmarsat (Atlantic and Indian Ocean regions); note--Iceland shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Norway, and Sweden)

Telephones - fixed lines (Telephones) [time series]

143,600 (1993 est.)

Broadcast media (Television broadcast stations) [time series]

14 (in addition, there are 156 low-power repeaters) (1997)

Televisions [time series]

96,100 (1993 est.)

Economy

Agricultural products (Agriculture--products) [time series]

potatoes, turnips; cattle, sheep; fish

Budget [time series]

revenues: $1.9 billion expenditures: $2.1 billion, including capital expenditures of $146 million (1996 est.)

Exchange rates (Currency) [time series]

1 Icelandic krona (IKr) = 100 aurar

Debt - external (Debt--external) [time series]

$2.2 billion (1996 est.)

Economic aid (Economic aid--recipient) [time series]

$NA

Economic overview (Economy--overview) [time series]

Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system, low unemployment, and remarkably even distribution of income. The economy depends heavily on the fishing industry, which provides 75% of export earnings and employs 12% of the work force. In the absence of other natural resources--except energy--Iceland's economy is vulnerable to changing world fish prices. The economy remains sensitive to declining fish stocks as well as to drops in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. The center-right government plans to continue its policies of reducing the budget and current account deficits, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, diversifying the economy, and privatizing state-owned industries. The government remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their fishing resources. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, and new developments in software production, biotechnology, and financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism and whale-watching. Growth is likely to slow in 1999, to a still respectable 4.6%.

Electricity - consumption (Electricity--consumption) [time series]

5.532 billion kWh (1997)

Electricity - exports (Electricity--exports) [time series]

0 kWh (1996)

Electricity - imports (Electricity--imports) [time series]

0 kWh (1996)

Electricity - production (Electricity--production) [time series]

5.048 billion kWh (1996)

Electricity - production by source (Electricity--production by source) [time series]

fossil fuel: 0.06% hydro: 93.43% nuclear: 0% other: 6.51%

Exchange rates [time series]

Icelandic kronur (IKr) per US$1--69.250 (January 1999), 70.958 (1998), 70.904 (1997), 66.500 (1996), 64.692 (1995), 69.944 (1994)

Exports [time series]

$1.9 billion (f.o.b., 1998)

Exports - commodities (Exports--commodities) [time series]

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

Exports - partners (Exports--partners) [time series]

EU 60% (UK 19%, Germany 13%, France 6%, Denmark 6%), US 14% (1997)

Fiscal year [time series]

calendar year

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

purchasing power parity--$6.06 billion (1998 est.)

GDP - composition, by sector of origin (GDP--composition by sector) [time series]

agriculture: 13% industry: 24% services: 63% (1997 est.)

Real GDP per capita (GDP--per capita) [time series]

purchasing power parity?$22,400 (1998 est.)

Real GDP growth rate (GDP--real growth rate) [time series]

5.1% (1998 est.)

Household income or consumption by percentage share [time series]

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

Imports [time series]

$2.4 billion (f.o.b., 1998)

Imports - commodities (Imports--commodities) [time series]

machinery and equipment, petroleum products, foodstuffs, textiles

Imports - partners (Imports--partners) [time series]

EU 58% (Germany 12%, Norway 12%, UK 10%, Denmark 9%, Sweden 7%), US 9% (1997)

Industrial production growth rate [time series]

NA%

Industries [time series]

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

Inflation rate (consumer prices) [time series]

1.7% (1998)

Labor force [time series]

130,000 (1998 est.)

Labor force - by occupation (Labor force--by occupation) [time series]

manufacturing 12.9%, fishing and fish processing 11.8%, construction 10.7%, other services 59.5%, agriculture 5.1% (1996 est.)

Population below poverty line [time series]

NA%

Unemployment rate [time series]

3% (1998 est.)

Geography

Area [time series]

total: 103,000 sq km land: 100,250 sq km water: 2,750 sq km

Area - comparative (Area--comparative) [time series]

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

Elevation (Elevation extremes) [time series]

lowest point: Atlantic Ocean 0 m highest point: Hvannadalshnukur 2,119 m

Environment - current issues (Environment--current issues) [time series]

water pollution from fertilizer runoff; inadequate wastewater treatment

International environmental agreements (Environment--international agreements) [time series]

party to: Air Pollution, Biodiversity, Climate Change, Desertification, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling signed, but not ratified: Air Pollution-Persistent Organic Pollutants, Environmental Modification, Marine Life Conservation

Geographic coordinates [time series]

65 00 N, 18 00 W

Geography - note (Geography--note) [time series]

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

Irrigated land [time series]

NA sq km

Land boundaries [time series]

0 km

Land use [time series]

arable land: 0% permanent crops: 0% permanent pastures: 23% forests and woodland: 1% other: 76% (1993 est.)

Location [time series]

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

Map references [time series]

Arctic Region

Maritime claims [time series]

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

Natural hazards [time series]

earthquakes and volcanic activity

Natural resources [time series]

fish, hydropower, geothermal power, diatomite

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--kaupstadhur); Akranes*, Akureyri*, Arnessysla, Austur-Bardhastrandarsysla, Austur-Hunavatnssysla, Austur-Skaftafellssysla, Borgarfjardharsysla, Dalasysla, Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*, Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*, Myrasysla, Neskaupstadhur*, Nordhur-Isafjardharsysla, Nordhur-Mulasys-la, Nordhur-Thingeyjarsysla, Olafsfjordhur*, Rangarvallasysla, Reykjavik*, Saudharkrokur*, Seydhisfjordhur*, Siglufjordhur*, Skagafjardharsysla, Snaefellsnes-og Hnappadalssysla, Strandasysla, Sudhur-Mulasysla, Sudhur-Thingeyjarsysla, Vesttmannaeyjar*, Vestur-Bardhastrandarsysla, Vestur-Hunavatnssysla, Vestur-Isafjardharsysla, Vestur-Skaftafellssysla

Capital [time series]

Reykjavik

Constitution [time series]

16 June 1944, effective 17 June 1944

Country name [time series]

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

Data code [time series]

Diplomatic representation from the US [time series]

chief of mission: Ambassador Day Olin MOUNT embassy: Laufasvegur 21, Reykjavik mailing address: US Embassy, PSC 1003, Box 40, FPO AE 09728-0340

Diplomatic representation in the US [time series]

chief of mission: Ambassador Jon-Baldvin HANNIBALSSON chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005 consulate(s) general: New York

Executive branch [time series]

chief of state: President Olafur Ragnar GRIMSSON (since 1 August 1996) head of government: Prime Minister David ODDSSON (since 30 April 1991) cabinet: Cabinet appointed by the president elections: president elected by popular vote for a four-year term; election last held 29 June 1996 (next to be held NA June 2000); prime minister appointed by the president election results: Olafur Ragnar GRIMSSON elected president; percent of vote--41.4%

Flag (Flag description) [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)

Government type [time series]

constitutional republic

Independence [time series]

17 June 1944 (from Denmark)

International organization participation [time series]

Australia Group, BIS, CBSS, CCC, CE, EAPC, EBRD, ECE, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, ISO, ITU, MTCR, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNMIBH, UNU, UPU, WEU (associate), WHO, WIPO, WMO, WTrO

Judicial branch [time series]

Supreme Court or Haestirettur, justices are appointed for life by the president

Legal system [time series]

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

Legislative branch [time series]

unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms) elections: last held on 8 April 1995 (next to be held by April 1999) election results: percent of vote by party--Independence Party 37.1%, Progressive Party 23.3%, Social Democratic Party 11.4%, Socialists 14.3%, People's Movement 7.2%, Women's Party 4.9%; seats by party--Independence 25, Progressive 15, Social Democratic 7, Socialists 9, People's Movement 4, Women's Party 3

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)

Suffrage [time series]

18 years of age; universal

Introduction

Background [time series]

Iceland boasts the oldest surviving parliament in the world, the Althing, established in 930. Subsequently this Nordic island, whose small population has largely depended on fishing and sheep-herding for a living, came under the rule of Norway and then Denmark. It gained home rule in 1874 and full independence in 1944. Literacy, longevity, and social cohesion are topnotch by world standards. Tensions continue with Norway, Russia, and other nearby countries over fishing rights in the North Atlantic and adjacent seas.

Military

Military and security forces (Military branches) [time series]

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

Military expenditures - dollar figure (Military expenditures--dollar figure) [time series]

none

Military manpower - availability (Military manpower--availability) [time series]

males age 15-49: 70,958 (1999 est.)

Military manpower - fit for military service (Military manpower--fit for military service) [time series]

males age 15-49: 62,570 (1999 est.)

Military - note (Military--note) [time series]

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

People

Age structure [time series]

0-14 years: 23% (male 32,608; female 31,061) 15-64 years: 65% (male 89,258; female 87,449) 65 years and over: 12% (male 14,510; female 17,626) (1999 est.)

Birth rate [time series]

14.87 births/1,000 population (1999 est.)

Death rate [time series]

7.01 deaths/1,000 population (1999 est.)

Ethnic groups [time series]

homogeneous mixture of descendants of Norwegians and Celts

Infant mortality rate [time series]

5.22 deaths/1,000 live births (1999 est.)

Languages [time series]

Icelandic

Life expectancy at birth [time series]

total population: 78.96 years male: 76.85 years female: 81.19 years (1999 est.)

Literacy [time series]

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

Nationality [time series]

noun: Icelander(s) adjective: Icelandic

Net migration rate [time series]

-2.17 migrant(s)/1,000 population (1999 est.)

Population [time series]

272,512 (July 1999 est.)

Population growth rate [time series]

0.57% (1999 est.)

Religions [time series]

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

Sex ratio [time series]

at birth: 1.06 male(s)/female under 15 years: 1.05 male(s)/female 15-64 years: 1.02 male(s)/female 65 years and over: 0.82 male(s)/female total population: 1 male(s)/female (1999 est.)

Total fertility rate [time series]

2.03 children born/woman (1999 est.)

Transnational Issues

Disputes - international (Disputes--international) [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)

Transportation

Airports [time series]

87 (1998 est.)

Airports - with paved runways (Airports--with paved runways) [time series]

total: 10 over 3,047 m: 1 1,524 to 2,437 m: 4 914 to 1,523 m: 5 (1998 est.)

Airports - with unpaved runways (Airports--with unpaved runways) [time series]

total: 77 1,524 to 2,437 m: 3 914 to 1,523 m: 21 under 914 m: 53 (1998 est.)

Roadways (Highways) [time series]

total: 12,691 km paved: 3,262 km unpaved: 9,429 km (1997 est.)

Merchant marine [time series]

total: 3 ships (1,000 GRT or over) totaling 13,085 GRT/16,938 DWT ships by type: chemical tanker 1, container 1, oil tanker 1 (1998 est.)

Ports (Ports and harbors) [time series]

Akureyri, Hornafjordur, Isafjordhur, Keflavik, Raufarhofn, Reykjavik, Seydhisfjordhur, Straumsvik, Vestmannaeyjar

Railways [time series]

0 km