Iceland (2004) | Bahamas, The (2005) | |
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Administrative divisions | 8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland | 21 districts; Acklins and Crooked Islands, Bimini, Cat Island, Exuma, Freeport, Fresh Creek, Governor's Harbour, Green Turtle Cay, Harbour Island, High Rock, Inagua, Kemps Bay, Long Island, Marsh Harbour, Mayaguana, New Providence, Nichollstown and Berry Islands, Ragged Island, Rock Sound, Sandy Point, San Salvador and Rum Cay |
Age structure | 0-14 years: 22.5% (male 33,522; female 32,489)
15-64 years: 65.8% (male 98,091; female 95,450) 65 years and over: 11.7% (male 15,552; female 18,862) (2004 est.) |
0-14 years: 27.9% (male 42,142/female 42,096)
15-64 years: 65.9% (male 97,865/female 101,047) 65 years and over: 6.2% (male 7,616/female 11,024) (2005 est.) |
Agriculture - products | potatoes, green vegetables, mutton, dairy products, fish | citrus, vegetables; poultry |
Airports | 100 (2003 est.) | 63 (2004 est.) |
Airports - with paved runways | total: 5
over 3,047 m: 1 1,524 to 2,437 m: 3 914 to 1,523 m: 1 (2004 est.) |
total: 29
over 3,047 m: 2 2,438 to 3,047 m: 3 1,524 to 2,437 m: 14 914 to 1,523 m: 9 under 914 m: 1 (2004 est.) |
Airports - with unpaved runways | total: 93
1,524 to 2,437 m: 3 914 to 1,523 m: 29 under 914 m: 61 (2004 est.) |
total: 34
1,524 to 2,437 m: 3 914 to 1,523 m: 10 under 914 m: 21 (2004 est.) |
Area | total: 103,000 sq km
land: 100,250 sq km water: 2,750 sq km |
total: 13,940 sq km
land: 10,070 sq km water: 3,870 sq km |
Area - comparative | slightly smaller than Kentucky | slightly smaller than Connecticut |
Background | 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 Althing, 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. Limited home rule from Denmark was granted in 1874 and complete independence attained in 1944. Literacy, longevity, income, and social cohesion are first-rate by world standards. | Arawak Indians inhabited the islands when Christopher Columbus first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US, and its territory is used for smuggling illegal migrants into the US. |
Birth rate | 13.83 births/1,000 population (2004 est.) | 17.87 births/1,000 population (2005 est.) |
Budget | revenues: $4.205 billion
expenditures: $4.405 billion, including capital expenditures of $467 million (2003) |
revenues: $1 billion
expenditures: $1 billion, including capital expenditures of $106.7 million (FY03/04) |
Capital | Reykjavik | Nassau |
Climate | temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers | tropical marine; moderated by warm waters of Gulf Stream |
Coastline | 4,988 km | 3,542 km |
Constitution | 16 June 1944, effective 17 June 1944 | 10 July 1973 |
Country name | conventional long form: Republic of Iceland
conventional short form: Iceland local long form: Lydhveldidh Island local short form: Island |
conventional long form: Commonwealth of The Bahamas
conventional short form: The Bahamas |
Currency | Icelandic krona (ISK) | - |
Death rate | 6.57 deaths/1,000 population (2004 est.) | 8.97 deaths/1,000 population (2005 est.) |
Debt - external | $2.6 billion (1999) | $308.5 million (2002) |
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] 562-9100 FAX: [354] 562-9118 |
chief of mission: Ambassador John D. ROOD
embassy: 42 Queen Street, Nassau mailing address: local or express mail address: P. O. Box N-8197, Nassau; Department of State, 3370 Nassau Place, Washington, DC 20521-3370 telephone: [1] (242) 322-1181, 328-2206 (after hours) FAX: [1] (242) 356-0222 |
Diplomatic representation in the US | chief of mission: Ambassador Helgi AGUSTSSON
chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704 telephone: [1] (202) 265-6653 FAX: [1] (202) 265-6656 consulate(s) general: New York |
chief of mission: Ambassador Joshua SEARS
chancery: 2220 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 319-2660 FAX: [1] (202) 319-2668 consulate(s) general: Miami and New York |
Disputes - international | Rockall continental shelf dispute involving Denmark, Iceland, and the UK (Ireland and the UK have signed a boundary agreement in the Rockall area) remains dormant; dispute with Denmark over the Faroe Islands' fisheries median line boundary within 200 nm; disputes with Denmark, the UK, and Ireland over the Faroe Islands continental shelf boundary outside 200 nm | have not been able to agree on the alignment of a maritime boundary with the US; continues to monitor and interdict Haitian refugees fleeing economic privation and political instability |
Economic aid - donor | NA | - |
Economic aid - recipient | - | $9.8 million (1995) |
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 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%. | The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2001-03. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture together contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector, which depends on growth in the US, the source of more than 80% of the visitors. In addition to tourism and banking, the government supports the development of a "third pillar," e-commerce. |
Electricity - consumption | 7.341 billion kWh (2001) | 1.596 billion kWh (2002) |
Electricity - exports | 0 kWh (2001) | 0 kWh (2002) |
Electricity - imports | 0 kWh (2001) | 0 kWh (2002) |
Electricity - production | 7.894 billion kWh (2001) | 1.716 billion kWh (2002) |
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: Mount Alvernia, on Cat Island 63 m |
Environment - current issues | water pollution from fertilizer runoff; inadequate wastewater treatment | coral reef decay; solid waste disposal |
Environment - international agreements | party to: Air Pollution, 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
signed, but not ratified: Air Pollution-Persistent Organic Pollutants, Environmental Modification, Marine Life Conservation |
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements |
Ethnic groups | homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6% | black 85%, white 12%, Asian and Hispanic 3% |
Exchange rates | Icelandic kronur per US dollar - 76.709 (2003), 91.6617 (2002), 97.4246 (2001), 78.6159 (2000), 72.3353 (1999) | Bahamian dollars per US dollar - 1 (2004), 1 (2003), 1 (2002), 1 (2001), 1 (2000) |
Executive branch | chief of state: President Olafur Ragnar GRIMSSON (since 1 August 1996)
head of government: Prime Minister Halldor ASGRIMSSON (since 15 September 2004); note - Former Prime Minister David ODDSSON switched positions with former Foreign Minister Halldor ASGRIMMSON cabinet: Cabinet appointed by the prime minister and approved by Parliament elections: president, which is largely a ceremonial post, elected by popular vote for a four-year term; election last held 26 June 2004 (next to be held June 2008); prime minister appointed by the president election results: Olafur Ragnar GRIMSSON wins with 85.6% of the vote, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9% |
chief of state: Queen ELIZABETH II (since 6 February 1952), represented by Governor General Dame Ivy DUMONT (since NA May 2002)
head of government: Prime Minister Perry CHRISTIE (since 3 May 2002) and Deputy Prime Minister Cynthia PRATT (since 7 May 2002) cabinet: Cabinet appointed by the governor general on the prime minister's recommendation elections: none; the monarch is hereditary; governor general appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the governor general; the prime minister recommends the deputy prime minister |
Exports | 0 bbl/day (2001) | transhipments of 29,000 bbl/day (2003) |
Exports - commodities | fish and fish products 70%, animal products, aluminum, diatomite, ferrosilicon | mineral products and salt, animal products, rum, chemicals; fruit and vegetables |
Exports - partners | Germany 17.4%, UK 17.4%, Netherlands 11.2%, US 9.8%, Spain 6.3%, Denmark 5%, Norway 4.5%, France 4% (2003) | US 40.2%, Poland 13.3%, Spain 11.6%, Germany 5.9%, France 4.3% (2004) |
Fiscal year | calendar year | 1 July - 30 June |
Flag description | 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) | three equal horizontal bands of aquamarine (top), gold, and aquamarine, with a black equilateral triangle based on the hoist side |
GDP | purchasing power parity - $8.678 billion (2003 est.) | - |
GDP - composition by sector | agriculture: 9.2% (includes fishing 12%)
industry: 26.7% services: 64.2% (2003 est.) |
agriculture: 3%
industry: 7% services: 90% (2001 est.) |
GDP - per capita | purchasing power parity - $30,900 (2003 est.) | purchasing power parity - $17,700 (2004 est.) |
GDP - real growth rate | 2.6% (2003 est.) | 3% (2004 est.) |
Geographic coordinates | 65 00 N, 18 00 W | 24 15 N, 76 00 W |
Geography - note | 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 | strategic location adjacent to US and Cuba; extensive island chain of which 30 are inhabited |
Heliports | - | 1 (2004 est.) |
Highways | total: 12,955 km
paved/oiled gravel: 3,863 km unpaved: 9,092 km (2003) |
total: 2,693 km
paved: 1,546 km unpaved: 1,147 km (1999 est.) |
Household income or consumption by percentage share | lowest 10%: NA
highest 10%: NA |
lowest 10%: NA
highest 10%: 27% (2000) |
Illicit drugs | - | transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center |
Imports | 15,470 bbl/day (2001) | NA |
Imports - commodities | machinery and equipment, petroleum products; foodstuffs, textiles | machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals |
Imports - partners | Germany 11.8%, Denmark 8%, US 7.5%, UK 7.5%, Norway 7%, Sweden 6.5%, Netherlands 6.2%, Italy 4.7% (2003) | US 22.4%, South Korea 18.9%, Brazil 9.2%, Japan 7.9%, Italy 7.8%, Venezuela 6.6% (2004) |
Independence | 1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark) | 10 July 1973 (from UK) |
Industrial production growth rate | 8.1% (2003 est.) | NA |
Industries | fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism | tourism, banking, cement, oil transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe |
Infant mortality rate | total: 3.31 deaths/1,000 live births
male: 3.44 deaths/1,000 live births female: 3.17 deaths/1,000 live births (2004 est.) |
total: 25.21 deaths/1,000 live births
male: 31.02 deaths/1,000 live births female: 19.28 deaths/1,000 live births (2005 est.) |
Inflation rate (consumer prices) | 2.1% (2003 est.) | 1.2% (year ending September 2004) |
International organization participation | Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO | ACP, C, Caricom, CDB, FAO, G-77, IADB, IBRD, ICAO, ICCt (signatory), ICFTU, ICRM, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOM, IOC, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WHO, WIPO, WMO, WTO (observer) |
Irrigated land | NA sq km | NA |
Judicial branch | Supreme Court or Haestirettur (justices are appointed for life by the Minister of Justice); eight district courts (justices are appointed for life by the Minister of Justice) | Supreme Court; Court of Appeal; magistrates courts |
Labor force | 160,000 (2003) | 156,000 (1999) |
Labor force - by occupation | agriculture 5.1%, fishing and fish processing 11.8%, manufacturing 12.9%, construction 10.7%, services 59.5% (1999) | agriculture 5%, industry 5%, tourism 50%, other services 40% (1999 est.) |
Land boundaries | 0 km | 0 km |
Land use | arable land: 0.07%
permanent crops: 0% other: 99.93% (2001) |
arable land: 0.8%
permanent crops: 0.4% other: 98.8% (2001) |
Languages | Icelandic, English, Nordic languages, German widely spoken | English (official), Creole (among Haitian immigrants) |
Legal system | civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction | based on English common law |
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 |
bicameral Parliament consists of the Senate (16-member body appointed by the governor general upon the advice of the prime minister and the opposition leader for five-year terms) and the House of Assembly (40 seats; members elected by direct popular vote to serve five-year terms); the government may dissolve the parliament and call elections at any time
elections: last held 1 May 2002 (next to be held by May 2007) election results: percent of vote by party - PLP 50.8%, FNM 41.1%, independents 5.2%; seats by party - PLP 29, FNM 7, independents 4 |
Life expectancy at birth | total population: 80.18 years
male: 78.18 years female: 82.27 years (2004 est.) |
total population: 65.54 years
male: 62.11 years female: 69.04 years (2005 est.) |
Literacy | definition: age 15 and over can read and write
total population: 99.9% (1997 est.) male: NA female: NA |
definition: age 15 and over can read and write
total population: 95.6% male: 94.7% female: 96.5% (2003 est.) |
Location | Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK | Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba |
Map references | Arctic Region | Central America and the Caribbean |
Maritime claims | territorial sea: 12 nm
exclusive economic zone: 200 nm continental shelf: 200 nm or to the edge of the continental margin |
territorial sea: 12 nm
exclusive economic zone: 200 nm |
Merchant marine | total: 1 ships (1,000 GRT or over) 4,341 GRT/6,019 DWT
by type: petroleum tanker 1 registered in other countries: 26 (2004 est.) |
total: 1,119
by type: barge carrier 2, bulk carrier 183, cargo 259, chemical tanker 54, combination ore/oil 17, container 74, liquefied gas 28, livestock carrier 2, passenger 116, passenger/cargo 40, petroleum tanker 168, refrigerated cargo 130, roll on/roll off 20, specialized tanker 2, vehicle carrier 24 foreign-owned: 968 (Angola 4, Australia 4, Belgium 17, Canada 9, China 3, Croatia 1, Cuba 1, Cyprus 13, Denmark 18, Estonia 1, Finland 7, France 28, Germany 15, Greece 194, Hong Kong 11, Indonesia 2, Ireland 1, Israel 1, Italy 7, Japan 49, Jordan 2, Kenya 1, Latvia 1, Malaysia 12, Monaco 15, Netherlands 24, New Zealand 1, Nigeria 2, Norway 229, Poland 13, Reunion 1, Russia 2, Saudi Arabia 12, Serbia & Montenegro 2, Singapore 11, Slovenia 1, South Korea 1, Spain 6, Sweden 9, Switzerland 4, Thailand 1, Trinidad & Tobago 2, Turkey 7, UAE 12, United Kingdom 55, United States 154, Uruguay 2) registered in other countries: 35 (2005) |
Military - note | defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik | - |
Military branches | no regular armed forces; Police, Coast Guard | Royal Bahamaian Defense Force (naval forces) (2004) |
Military expenditures - dollar figure | 0 | NA |
Military expenditures - percent of GDP | - | NA |
Military manpower - availability | males age 15-49: 75,568 (2004 est.) | - |
Military manpower - fit for military service | males age 15-49: 66,503 (2004 est.) | - |
National holiday | Independence Day, 17 June (1944) | Independence Day, 10 July (1973) |
Nationality | noun: Icelander(s)
adjective: Icelandic |
noun: Bahamian(s)
adjective: Bahamian |
Natural hazards | earthquakes and volcanic activity | hurricanes and other tropical storms cause extensive flood and wind damage |
Natural resources | fish, hydropower, geothermal power, diatomite | salt, aragonite, timber, arable land |
Net migration rate | 2.38 migrant(s)/1,000 population (2004 est.) | -2.18 migrant(s)/1,000 population (2005 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] | Free National Movement or FNM [Tommy TURNQUEST]; Progressive Liberal Party or PLP [Perry CHRISTIE] |
Political pressure groups and leaders | NA | NA |
Population | 293,966 (July 2004 est.) | 301,790
note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality and death rates, lower population and growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2005 est.) |
Population below poverty line | NA | NA |
Population growth rate | 0.97% (2004 est.) | 0.67% (2005 est.) |
Ports and harbors | Akureyri, Hornafjordhur, Isafjordhur, Keflavik, Raufarhofn, Reykjavik, Seydhisfjordhur, Straumsvik, Vesttmannaeyjar | Freeport, Nassau, South Riding Point |
Radio broadcast stations | AM 3, FM about 70 (including repeaters), shortwave 1 (1998) | AM 3, FM 5, shortwave 0 (2004) |
Religions | Evangelical Lutheran 87.1%, other Protestant 4.1%, Roman Catholic 1.7%, other 7.1% (2002) | Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census) |
Sex ratio | at birth: 1.04 male(s)/female
under 15 years: 1.03 male(s)/female 15-64 years: 1.03 male(s)/female 65 years and over: 0.83 male(s)/female total population: 1 male(s)/female (2004 est.) |
at birth: 1.02 male(s)/female
under 15 years: 1 male(s)/female 15-64 years: 0.97 male(s)/female 65 years and over: 0.69 male(s)/female total population: 0.96 male(s)/female (2005 est.) |
Suffrage | 18 years of age; universal | 18 years of age; universal |
Telephone system | general assessment: extensive domestic service
domestic: the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links international: country code - 354; 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) |
general assessment: modern facilities
domestic: totally automatic system; highly developed international: country code - 1-242; tropospheric scatter and submarine cable to Florida; 3 coaxial submarine cables; satellite earth station - 1 Intelsat (Atlantic Ocean) (1997) |
Telephones - main lines in use | 190,700 (2003) | 131,700 (2003) |
Telephones - mobile cellular | 279,100 (2003) | 121,800 (2002) |
Television broadcast stations | 14 (plus 156 low-power repeaters) (1997) | 2 (2004) |
Terrain | mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords | long, flat coral formations with some low rounded hills |
Total fertility rate | 1.93 children born/woman (2004 est.) | 2.2 children born/woman (2005 est.) |
Unemployment rate | 3.4% (2003 est.) | 10.2% (2004 est.) |