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Europe :: Iceland Print
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  • Introduction :: Iceland
  • Background field listing
    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 field listing
    Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom
    Geographic coordinates field listing
    65 00 N, 18 00 W
    Map references field listing
    Arctic Region
    Area field listing
    total: 103,000 sq km
    land: 100,250 sq km
    water: 2,750 sq km
    country comparison to the world: 109
    Area - comparative field listing
    slightly smaller than Pennsylvania; about the same size as Kentucky
    Land boundaries field listing
    0 km
    Coastline field listing
    4,970 km
    Maritime claims field listing
    territorial sea: 12 nm
    exclusive economic zone: 200 nm
    continental shelf: 200 nm or to the edge of the continental margin
    Climate field listing
    temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers
    Terrain field listing
    mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords
    Elevation field listing
    mean elevation: 557 m
    elevation extremes: 0 m lowest point: Atlantic Ocean
    2110 highest point: Hvannadalshnukur (at Vatnajokull Glacier)
    Natural resources field listing
    fish, hydropower, geothermal power, diatomite
    Land use field listing
    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 field listing
    NA
    Population distribution field listing
    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 field listing

    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 field listing
    water pollution from fertilizer runoff
    Environment - international agreements field listing
    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 field listing
    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 field listing
    343,518 (July 2018 est.)
    country comparison to the world: 178
    Nationality field listing
    noun: Icelander(s)
    adjective: Icelandic
    Ethnic groups field listing
    homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%
    Languages field listing
    Icelandic, English, Nordic languages, German
    Religions field listing
    Evangelical Lutheran Church of Iceland (official) 69.9%, Roman Catholic 3.8%, Reykjavik Free Church 2.9%, Hafnarfjordur Free Church 2%, Asatru Association 1.1%, The Independent Congregation 1%, other religions 4% (includes Zuist and Pentecostal), none 6.1%, other or unspecified 9.2% (2017 est.)
    Age structure field listing
    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: population pyramid
    Dependency ratios field listing
    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 field listing
    total: 36.7 years
    male: 36.1 years
    female: 37.3 years (2018 est.)
    country comparison to the world: 73
    Population growth rate field listing
    1.08% (2018 est.)
    country comparison to the world: 103
    Birth rate field listing
    13.6 births/1,000 population (2018 est.)
    country comparison to the world: 140
    Death rate field listing
    6.5 deaths/1,000 population (2018 est.)
    country comparison to the world: 142
    Net migration rate field listing
    4 migrant(s)/1,000 population (2017 est.)
    country comparison to the world: 27
    Population distribution field listing
    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 field listing
    urban population: 93.8% of total population (2018)
    rate of urbanization: 0.81% annual rate of change (2015-20 est.)
    Major urban areas - population field listing
    216,000 REYKJAVIK (capital) (2018)
    Sex ratio field listing
    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 field listing
    27.4 years (2015 est.)
    Maternal mortality rate field listing
    3 deaths/100,000 live births (2015 est.)
    country comparison to the world: 183
    Infant mortality rate field listing
    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 field listing
    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 field listing
    1.99 children born/woman (2018 est.)
    country comparison to the world: 120
    Health expenditures field listing
    8.9% of GDP (2014)
    country comparison to the world: 42
    Physicians density field listing
    3.79 physicians/1,000 population (2015)
    Hospital bed density field listing
    3.4 beds/1,000 population (2015)
    Drinking water source field listing
    improved: urban: 100% of population (2015 est.)
    rural: 100% of population (2015 est.)
    total: 100% of population (2015 est.)
    unimproved: urban: 0% of population (2015 est.)
    rural: 0% of population (2015 est.)
    total: 0% of population (2015 est.)
    Sanitation facility access field listing
    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 field listing
    NA
    HIV/AIDS - people living with HIV/AIDS field listing
    NA
    HIV/AIDS - deaths field listing
    NA
    Obesity - adult prevalence rate field listing
    21.9% (2016)
    country comparison to the world: 83
    Education expenditures field listing
    7.8% of GDP (2013)
    country comparison to the world: 9
    School life expectancy (primary to tertiary education) field listing
    total: 20 years (2013)
    male: 18 years (2013)
    female: 21 years (2013)
    Unemployment, youth ages 15-24 field listing
    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 field listing
    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 field listing
    parliamentary republic
    Capital field listing
    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 field listing
    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 field listing
    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 field listing
    Independence Day, 17 June (1944)
    Constitution field listing
    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)
    International law organization participation field listing
    has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
    Citizenship field listing
    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 field listing
    18 years of age; universal
    Executive branch field listing
    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 field listing
    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
    Judicial branch field listing
    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
    Political parties and leaders field listing
    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 field listing
    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 field listing
    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 field listing
    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 field listing
    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) field listing
    gyrfalcon; national colors: blue, white, red
    National anthem field listing
    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 field listing

    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) field listing
    $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) field listing
    $24.48 billion (2017 est.) (2017 est.)
    GDP - real growth rate field listing
    4% (2017 est.)
    7.4% (2016 est.)
    4.5% (2015 est.)
    country comparison to the world: 77
    GDP - per capita (PPP) field listing
    $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 field listing
    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 field listing
    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 field listing
    agriculture: 5.8% (2017 est.)
    industry: 19.7% (2017 est.)
    services: 74.6% (2017 est.)
    Agriculture - products field listing
    potatoes, carrots, green vegetables, tomatoes, cucumbers; mutton, chicken, pork, beef, dairy products; fish
    Industries field listing
    tourism, fish processing; aluminum smelting;; geothermal power, hydropower; medical/pharmaceutical products
    Industrial production growth rate field listing
    2.4% (2017 est.)
    country comparison to the world: 120
    Labor force field listing
    198,700 (2017 est.)
    country comparison to the world: 172
    Labor force - by occupation field listing
    agriculture: 73% (2008)
    industry: 22.2% (2008)
    services: 73% (2008)
    Unemployment rate field listing
    2.8% (2017 est.)
    3% (2016 est.)
    country comparison to the world: 30
    Population below poverty line field listing
    NA

    note: 332,100 families (2011 est.)

    Household income or consumption by percentage share field listing
    lowest 10%: NA
    highest 10%: NA
    Distribution of family income - Gini index field listing
    28 (2006)
    25 (2005)
    country comparison to the world: 142
    Budget field listing
    revenues: 10.39 billion (2017 est.)
    expenditures: 10.02 billion (2017 est.)
    Taxes and other revenues field listing
    42.4% (of GDP) (2017 est.)
    country comparison to the world: 31
    Budget surplus (+) or deficit (-) field listing
    1.5% (of GDP) (2017 est.)
    country comparison to the world: 22
    Public debt field listing
    40% of GDP (2017 est.)
    51.7% of GDP (2016 est.)
    country comparison to the world: 126
    Fiscal year field listing
    calendar year
    Inflation rate (consumer prices) field listing
    1.8% (2017 est.)
    1.7% (2016 est.)
    country comparison to the world: 93
    Central bank discount rate field listing
    5.4% (31 January 2012)
    5.75% (31 December 2010)
    country comparison to the world: 77
    Commercial bank prime lending rate field listing
    7.26% (31 December 2017 est.)
    8.24% (31 December 2016 est.)
    country comparison to the world: 116
    Stock of narrow money field listing
    $4.945 billion (31 December 2017 est.)
    $4.251 billion (31 December 2016 est.)
    country comparison to the world: 106
    Stock of broad money field listing
    $4.945 billion (31 December 2016 est.)
    $4.251 billion (31 December 2016 est.)
    country comparison to the world: 110
    Stock of domestic credit field listing
    $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 field listing
    $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 field listing
    $857 million (2017 est.)
    $1.556 billion (2016 est.)
    country comparison to the world: 52
    Exports field listing
    $4.957 billion (2017 est.)
    $4.483 billion (2016 est.)
    country comparison to the world: 110
    Exports - commodities field listing
    fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon (2015)
    Exports - partners field listing
    Netherlands 25.5%, Spain 13.6%, UK 9.4%, Germany 7.6%, US 7%, France 6.3%, Norway 4.9%
    Imports field listing
    $6.525 billion (2017 est.)
    $5.315 billion (2016 est.)
    country comparison to the world: 116
    Imports - commodities field listing
    machinery and equipment, petroleum products, foodstuffs, textiles
    Reserves of foreign exchange and gold field listing
    $6.567 billion (31 December 2017 est.)
    $7.226 billion (31 December 2016 est.)
    country comparison to the world: 89
    Imports - partners field listing
    Germany 10.7%, Norway 9.2%, China 7%, Netherlands 6.7%, US 6.4%, Denmark 6.2%, UK 5.7%, Sweden 4.1%
    Debt - external field listing
    $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 field listing
    $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 field listing
    $11.24 billion (31 December 2017 est.)
    $17.64 billion (31 December 2016 est.)
    country comparison to the world: 63
    Exchange rates field listing
    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 field listing
    electrification - total population: 100% (2016)
    Electricity - production field listing
    18.56 billion kWh (2015 est.)
    country comparison to the world: 76
    Electricity - consumption field listing
    17.98 billion kWh (2015 est.)
    country comparison to the world: 73
    Electricity - exports field listing
    0 kWh (2016 est.)
    country comparison to the world: 147
    Electricity - imports field listing
    0 kWh (2016 est.)
    country comparison to the world: 157
    Electricity - installed generating capacity field listing
    2.772 million kW (2015 est.)
    country comparison to the world: 100
    Electricity - from fossil fuels field listing
    4.2% of total installed capacity (2015 est.)
    country comparison to the world: 205
    Electricity - from nuclear fuels field listing
    0% of total installed capacity (2015 est.)
    country comparison to the world: 109
    Electricity - from hydroelectric plants field listing
    71.7% of total installed capacity (2015 est.)
    country comparison to the world: 20
    Electricity - from other renewable sources field listing
    24.1% of total installed capacity (2015 est.)
    country comparison to the world: 21
    Crude oil - production field listing
    0 bbl/day (2016 est.)
    country comparison to the world: 147
    Crude oil - exports field listing
    0 bbl/day (2016 est.)
    country comparison to the world: 137
    Crude oil - imports field listing
    0 bbl/day (2016 est.)
    country comparison to the world: 142
    Crude oil - proved reserves field listing
    0 bbl (1 January 2017 est.)
    country comparison to the world: 149
    Refined petroleum products - production field listing
    0 bbl/day (2016 est.)
    country comparison to the world: 159
    Refined petroleum products - consumption field listing
    19,800 bbl/day (2016 est.)
    country comparison to the world: 139
    Refined petroleum products - exports field listing
    2,845 bbl/day (2016 est.)
    country comparison to the world: 103
    Refined petroleum products - imports field listing
    19,530 bbl/day (2016 est.)
    country comparison to the world: 119
    Natural gas - production field listing
    0 cu m (2014 est.)
    country comparison to the world: 150
    Natural gas - consumption field listing
    0 cu m (2014 est.)
    country comparison to the world: 161
    Natural gas - exports field listing
    0 cu m (2014 est.)
    country comparison to the world: 122
    Natural gas - imports field listing
    0 cu m (2014 est.)
    country comparison to the world: 142
    Natural gas - proved reserves field listing
    0 cu m (1 January 2014 est.)
    country comparison to the world: 153
    Carbon dioxide emissions from consumption of energy field listing
    3.3 million Mt (2013 est.)
    country comparison to the world: 140
  • Communications :: Iceland
  • Telephones - fixed lines field listing
    total subscriptions: 146,213 (2017 est.)
    subscriptions per 100 inhabitants: 43 (2017 est.)
    country comparison to the world: 129
    Telephones - mobile cellular field listing
    total subscriptions: 410,662 (2017 est.)
    subscriptions per 100 inhabitants: 121 (2017 est.)
    country comparison to the world: 174
    Telephone system field listing
    general assessment: telecommunications infrastructure is modern and fully digitized, with satellite-earth stations, fiber-optic cables, and an extensive broadband network (2015)
    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 (2015)
    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) (2015)
    Broadcast media field listing
    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 field listing
    .is
    Internet users field listing
    total: 329,967 (July 2016 est.)
    percent of population: 98.2% (July 2016 est.)
    country comparison to the world: 156
    Broadband - fixed subscriptions field listing
    total: 133,574 (2017 est.)
    subscriptions per 100 inhabitants: 39 (2017 est.)
    country comparison to the world: 116
  • Transportation :: Iceland
  • National air transport system field listing
    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 field listing
    TF (2016)
    Airports field listing
    96 (2013)
    country comparison to the world: 59
    Airports - with paved runways field listing
    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 field listing
    total: 89 (2013)
    1,524 to 2,437 m: 3 (2013)
    914 to 1,523 m: 26 (2013)
    under 914 m: 60 (2013)
    Roadways field listing
    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 field listing
    total: 33 (2017)
    by type: general cargo 6, oil tanker 1, other 26 (2017)
    country comparison to the world: 126
    Ports and terminals field listing
    major seaport(s): Grundartangi, Hafnarfjordur, Reykjavik
  • Military and Security :: Iceland
  • Military expenditures field listing
    0.1% of GDP (2016)
    0.13% of GDP (2012)
    0.14% of GDP (2011)
    country comparison to the world: 154
    Military branches field listing
    no regular military forces; Icelandic National Police; Icelandic Coast Guard (2018)
    Military - note field listing
    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)
  • Terrorism :: Iceland
  • Transnational Issues :: Iceland
  • Disputes - international field listing
    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 field listing
    stateless persons: 85 (2017)