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Compare Iceland (2003) - Iceland (2002)

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 Iceland (2003)Iceland (2002)
 IcelandIceland
Age structure 0-14 years: 22.7% (male 32,902; female 30,952)


15-64 years: 65.4% (male 92,519; female 91,000)


65 years and over: 11.9% (male 14,973; female 18,452) (2003 est.)
0-14 years: 23% (male 33,189; female 31,155)


15-64 years: 65.1% (male 91,704; female 90,199)


65 years and over: 11.9% (male 14,828; female 18,309) (2002 est.)
Agriculture - products potatoes, green vegetables, chicken, pork, mutton; fish potatoes, turnips; cattle, sheep; fish
Airports 86 (2002) 86 (2001)
Birth rate 14.13 births/1,000 population (2003 est.) 14.37 births/1,000 population (2002 est.)
Death rate 6.95 deaths/1,000 population (2003 est.) 6.93 deaths/1,000 population (2002 est.)
Diplomatic representation from the US chief of mission: Ambassador James I. GADSDEN


embassy: Laufasvegur 21, 101 Reykjavik


mailing address: US Embassy, PSC 1003, Box 40, FPO AE 09728-0340


telephone: [354] 5629100


FAX: [354] 5629118
chief of mission: Ambassador James I. GADSDEN


embassy: Laufasvegur 21, 101 Reykjavik


mailing address: US Embassy, PSC 1003, Box 40, FPO AE 09728-0340


telephone: [354] 5629100


FAX: [354] 5629139
Economy - overview Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system (including generous housing subsidies), low unemployment, and remarkably even distribution of income. In the absence of other natural resources (except for abundant hydrothermal and geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 12% of the work force. The economy remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Government policies 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 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 had been remarkably steady in 1996-2001 at 3%-5%, but could not be sustained in 2002 in an environment of global recession. Growth resumed in 2003, and inflation dropped back from 5% to 2%. Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system, low unemployment, and remarkably even distribution of income. In the absence of other natural resources (except for abundant hydrothermal and geothermal power), the economy depends heavily on the fishing industry, providing 70% of export earnings and employing 12% of the work force. 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. Consumption, investment, and exports should recover moderately in 2003.
Electricity - consumption 7.341 billion kWh (2001) 7.02 billion kWh (2000)
Electricity - exports 0 kWh (2001) 0 kWh (2000)
Electricity - imports 0 kWh (2001) 0 kWh (2000)
Electricity - production 7.894 billion kWh (2001) 7.549 billion kWh (2000)
Electricity - production by source fossil fuel: 0.1%


hydro: 82.5%


nuclear: 0%


other: 17.5% (2001)
fossil fuel: 0%


hydro: 83%


nuclear: 0%


other: 17% (2000)
Elevation extremes lowest point: Atlantic Ocean 0 m


highest point: Hvannadalshnukur 2,119 m (at Vatnajokull glacier)
lowest point: Atlantic Ocean 0 m


highest point: Hvannadalshnukur 2,119 m
Environment - international agreements party to: Air Pollution, Biodiversity, Climate Change, Desertification, Endangered Species, Environmental Modification, Environmental Protection through Criminal Law, Hazardous Wastes, Kyoto Protocol, Law of the Sea, Marine Dumping, Nuclear Test Ban, Oil Pollution, Ozone Layer Protection, Persistent Organic Pollutants, Ship Pollution, Transboundary Air Pollution, Wetlands


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


signed, but not ratified: Air Pollution-Persistent Organic Pollutants, Environmental Modification, Marine Life Conservation
Exchange rates Icelandic kronur per US dollar - 91.66 (2002), 97.42 (2001), 78.62 (2000), 72.34 (1999), 70.96 (1998) Icelandic kronur per US dollar - 102.430 (January 2002), 97.425 (2001), 78.616 (2000), 72.335 (1999), 70.958 (1998), 70.904 (1997)
Exports 0 bbl/day (2001) $2 billion f.o.b. (2002)
Exports - partners Germany 18.5%, UK 17.5%, Netherlands 11.4%, US 10.9%, Spain 5.2%, Denmark 4.6%, Portugal 4.3%, Norway 4.2% (2002) UK 18.2%, Germany 14.9%, Netherlands 10.9, US 10.3%, Portugal 5.5%, Spain 5.4%, Norway 5.3% (2001)
GDP purchasing power parity - $8.444 billion (2002 est.) purchasing power parity - $7.7 billion (2002 est.)
GDP - per capita purchasing power parity - $30,200 (2002 est.) purchasing power parity - $27,100 (2002 est.)
GDP - real growth rate -0.6% (2002 est.) -0.7% (2002 est.)
Highways total: 12,955 km


paved/oiled gravel: 3,863 km


unpaved: 9,092 km (2003)
total: 12,691 km


paved: 3,262 km


unpaved: 9,429 km (1999)
Imports 15,470 bbl/day (2001) $2 billion (2002)
Imports - partners US 10.9%, Germany 10.7%, Denmark 8.5%, Norway 8%, UK 7.5%, Netherlands 6%, Sweden 5.9% (2002) Germany 12.2%, US 11.1%, Denmark 8.6%, Norway 7.8%, UK 7.5%, Netherlands 6.6% (2001)
Industrial production growth rate 0.2% (2002 est.) 0.2% (2001 est.)
Infant mortality rate total: 3.5 deaths/1,000 live births


male: 3.79 deaths/1,000 live births


female: 3.19 deaths/1,000 live births (2003 est.)
3.53 deaths/1,000 live births (2002 est.)
Inflation rate (consumer prices) 5.2% (2002 est.) 5% (2001 est.)
International organization participation Australia Group, BIS, CBSS, CE, EAPC, EBRD, ECE, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IEA (observer), IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNMIBH, UNMIK, UNU, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTrO Australia Group, BIS, CBSS, CCC, CE, EAPC, EBRD, ECE, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA (observer), IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNMIBH, UNMIK, UNU, UPU, WEU (associate), WHO, WIPO, WMO, WTrO
Labor force - by occupation agriculture 5.1%, fishing and fish processing 11.8%, manufacturing 12.9%, construction 10.7%, other services 59.5% (1999) agriculture 5%, fishing and fish processing 12%, manufacturing 13%, construction 11%, other services 60% (1999)
Land use arable land: 1%


permanent crops: 0%


permanent pastures: 28%


forest and woodlands: 1%


other: 70% (2001 est.)
arable land: 0.06%


permanent crops: 0%


other: 99.94% (23% permanent pastures) (1998 est.)
Legislative branch unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)


elections: last held 10 May 2003 (next to be held by May 2007)


election results: percent of vote by party - Independence Party 33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%, Left-Green Alliance 8.8%, Liberal Party 7.4%; seats by party - Independence Party 22, Social Democratic Alliance 20, Progressive Party 12, Left-Green Alliance 5, Liberal Party 4
unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)


elections: last held 8 May 1999 (next to be held by April 2003)


election results: percent of vote by party - Independence Party 40.7%, Social Democratic Alliance (PA, Social Democratic Party, Women's List) 26.8%, Progressive Party 18.4%, Left-Green Alliance 9.1%, Liberal Party 4.2%; seats by party - Independence Party 26, Social Democratic Alliance 17, Progressive Party 12, Left-Green Alliance 6, Liberal Party 2
Life expectancy at birth total population: 79.8 years


male: 77.54 years


female: 82.22 years (2003 est.)
total population: 79.66 years


male: 77.42 years


female: 82.07 years (2002 est.)
Merchant marine total: 1 ships (1,000 GRT or over) 3,500 GRT/5,000 DWT


ships by type: chemical tanker 1 (2002 est.)
total: 1 ship (1,000 GRT or over) totaling 1,816 GRT/2,500 DWT


ships by type: chemical tanker 1 (2002 est.)
Military manpower - availability males age 15-49: 71,157 (2003 est.) males age 15-49: 71,142 (2002 est.)
Military manpower - fit for military service males age 15-49: 62,552 (2003 est.) males age 15-49: 62,556 (2002 est.)
Net migration rate -2.26 migrant(s)/1,000 population (2003 est.) -2.27 migrant(s)/1,000 population (2002 est.)
Political parties and leaders Independence Party or IP [David ODDSSON]; Left-Green Alliance or LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List)or SDA [Ossur SKARPHEDINSSON]; Social Democratic Party or SDP [Sighvatur BJORGVINSSON]; Women's List or WL [Kristin ASTGEIRSDOTTIR] Independence Party or IP [David ODDSSON]; Left-Green Alliance or LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Sverrir HERMANNSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List)or SDA [Ossur SKARPHEDINSSON]; Social Democratic Party or SDP [Sighvatur BJORGVINSSON]; Women's List or WL [Kristin ASTGEIRSDOTTIR]
Population 280,798 (July 2003 est.) 279,384 (July 2002 est.)
Population growth rate 0.49% (2003 est.) 0.52% (2002 est.)
Radios - 260,000 (1997)
Sex ratio at birth: 1.08 male(s)/female


under 15 years: 1.06 male(s)/female


15-64 years: 1.02 male(s)/female


65 years and over: 0.81 male(s)/female


total population: 1 male(s)/female (2003 est.)
at birth: 1.08 male(s)/female


under 15 years: 1.07 male(s)/female


15-64 years: 1.02 male(s)/female


65 years and over: 0.81 male(s)/female


total population: 1 male(s)/female (2002 est.)
Total fertility rate 1.98 children born/woman (2003 est.) 1.99 children born/woman (2002 est.)
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