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Compare Iceland (2004) - Iceland (2006)

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 Iceland (2004)Iceland (2006)
 IcelandIceland
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: 21.7% (male 33,021/female 32,021)


15-64 years: 66.5% (male 100,944/female 98,239)


65 years and over: 11.7% (male 15,876/female 19,287) (2006 est.)
Agriculture - products potatoes, green vegetables, mutton, dairy products, fish potatoes, green vegetables; mutton, dairy products; fish
Airports 100 (2003 est.) 98 (2006)
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: 5


over 3,047 m: 1


1,524 to 2,437 m: 3


914 to 1,523 m: 1 (2006)
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: 93


1,524 to 2,437 m: 3


914 to 1,523 m: 29


under 914 m: 61 (2006)
Birth rate 13.83 births/1,000 population (2004 est.) 13.64 births/1,000 population (2006 est.)
Budget revenues: $4.205 billion


expenditures: $4.405 billion, including capital expenditures of $467 million (2003)
revenues: $6.995 billion


expenditures: $6.761 billion; including capital expenditures of $467 million (2005 est.)
Capital Reykjavik name: Reykjavik


geographic coordinates: 64 09 N, 21 57 W


time difference: UTC (5 hours ahead of Washington, DC during Standard Time)
Coastline 4,988 km 4,970 km
Constitution 16 June 1944, effective 17 June 1944 16 June 1944, effective 17 June 1944; amended many times
Country name conventional long form: Republic of Iceland


conventional short form: Iceland


local long form: Lydhveldidh Island


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


conventional short form: Iceland


local long form: Lydveldid Island


local short form: Island
Currency Icelandic krona (ISK) -
Death rate 6.57 deaths/1,000 population (2004 est.) 6.72 deaths/1,000 population (2006 est.)
Debt - external $2.6 billion (1999) $3.073 billion (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 Carol VAN VOORST


embassy: Laufasvegur 21, 101 Reykjavik


mailing address: US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640


telephone: [354] 562-9100


FAX: [354] 562-9118
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 Iceland disputes Denmark's alignment of the Faroe Islands' fisheries median line; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
Economic aid - donor NA $6.7 million $NA
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%. 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 4% 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 current account deficit, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, and diversifying the economy. 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 estimates call for strong growth until 2007, slowly dropping until the end of the decade.
Electricity - consumption 7.341 billion kWh (2001) 8.619 billion kWh (2004)
Electricity - exports 0 kWh (2001) 0 kWh (2003)
Electricity - imports 0 kWh (2001) 0 kWh (2003)
Electricity - production 7.894 billion kWh (2001) 8.619 billion kWh (2004)
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 2,110 m (at Vatnajokull glacier)
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: 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


signed, but not ratified: Environmental Modification, Marine Life Conservation
Exchange rates Icelandic kronur per US dollar - 76.709 (2003), 91.6617 (2002), 97.4246 (2001), 78.6159 (2000), 72.3353 (1999) Icelandic kronur per US dollar - 62.982 (2005), 70.192 (2004), 76.709 (2003), 91.662 (2002), 97.425 (2001)
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: President Olafur Ragnar GRIMSSON (since 1 August 1996)


head of government: Prime Minister Geir H. HAARDE (since 7 June 2006)


cabinet: Cabinet appointed by the prime minister


elections: president, largely a ceremonial post, is elected by popular vote for a four-year term (no term limits); election last held 26 June 2004 (next to be held June 2008); following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister


election results: Olafur Ragnar GRIMSSON 85.6%, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%
Exports - commodities fish and fish products 70%, animal products, aluminum, diatomite, ferrosilicon fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite
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) UK 17.9%, Germany 16.4%, Netherlands 13%, US 8.1%, Spain 7.7%, Denmark 4.3% (2005)
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: 8.6%


industry: 15%


services: 76.5% (2005 est.)
GDP - per capita purchasing power parity - $30,900 (2003 est.) -
GDP - real growth rate 2.6% (2003 est.) 5.6% (2005 est.)
Highways total: 12,955 km


paved/oiled gravel: 3,863 km


unpaved: 9,092 km (2003)
-
Household income or consumption by percentage share lowest 10%: NA


highest 10%: NA
lowest 10%: NA%


highest 10%: NA%
Imports - commodities machinery and equipment, petroleum products; foodstuffs, textiles machinery and equipment, petroleum products, foodstuffs, textiles
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) Germany 13.4%, US 9.1%, Sweden 8.6%, Denmark 7.3%, Norway 7.2%, UK 5.9%, China 5.3%, Netherlands 5%, Japan 4.7% (2005)
Industrial production growth rate 8.1% (2003 est.) 14.2% (2005 est.)
Industries fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism fish processing; aluminum smelting, ferrosilicon production; geothermal power, tourism
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: 3.29 deaths/1,000 live births


male: 3.43 deaths/1,000 live births


female: 3.14 deaths/1,000 live births (2006 est.)
Inflation rate (consumer prices) 2.1% (2003 est.) 4% (2005 est.)
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 Arctic Council, 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, IPU, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO
Irrigated land NA sq km NA
Labor force 160,000 (2003) 165,900 (2005 est.)
Labor force - by occupation agriculture 5.1%, fishing and fish processing 11.8%, manufacturing 12.9%, construction 10.7%, services 59.5% (1999) agriculture: 10.3%


industry: 18.3%


services: 71.4% (2003)
Land use arable land: 0.07%


permanent crops: 0%


other: 99.93% (2001)
arable land: 0.07%


permanent crops: 0%


other: 99.93% (2005)
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 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%, Progressive Party 17.7%, Left-Green Movement 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
Life expectancy at birth total population: 80.18 years


male: 78.18 years


female: 82.27 years (2004 est.)
total population: 80.31 years


male: 78.23 years


female: 82.48 years (2006 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: 99%


male: 99%


female: 99% (2003 est.)
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 ship (1000 GRT or over) 3,354 GRT/480 DWT


by type: passenger/cargo 1


registered in other countries: 34 (Antigua and Barbuda 8, Bahamas 1, Belize 2, Faroe Islands 4, Gibraltar 1, Malta 4, Norway 4, Saint Vincent and the Grenadines 10) (2006)
Military - note defense is provided by the US-manned Icelandic Defense Force (IDF) headquartered at Keflavik under a 1951 bilateral agreement, Iceland's defense was provided by a US-manned Icelandic Defense Force (IDF) headquartered in Keflavik; in October 2006, all US military forces in Iceland were withdrawn; nonetheless, the US and Iceland signed a Joint Understanding to strengthen their bilateral defense relationship, including regular security consultations, military communications in the event of national emergencies, annual bilateral exercises on Icelandic territory, and future bilateral and NATO support to four Iceland Air Defense System (IADS) radar sites
Military branches no regular armed forces; Police, Coast Guard no regular armed forces; Icelandic National Police, Icelandic Coast Guard (Islenska Landhelgisgaeslan) subordinate to Ministry of Justice, Icelandic Crisis Response Unit (2006)
Military expenditures - percent of GDP - 0%
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.) -
Net migration rate 2.38 migrant(s)/1,000 population (2004 est.) 1.74 migrant(s)/1,000 population (2006 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] Independence Party or IP [Geir HAARDE]; Left-Green Movement or LGM [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON - will step down in August 2006]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List) or SDA [Ingibjorg Solrun GISLADOTTIR]
Population 293,966 (July 2004 est.) 299,388 (July 2006 est.)
Population below poverty line NA NA%
Population growth rate 0.97% (2004 est.) 0.87% (2006 est.)
Ports and harbors Akureyri, Hornafjordhur, Isafjordhur, Keflavik, Raufarhofn, Reykjavik, Seydhisfjordhur, Straumsvik, Vesttmannaeyjar -
Religions Evangelical Lutheran 87.1%, other Protestant 4.1%, Roman Catholic 1.7%, other 7.1% (2002) Lutheran Church of Iceland 85.5%, Reykjavik Free Church 2.1%, Roman Catholic Church 2%, Hafnarfjorour Free Church 1.5%, other Christian 2.7%, other or unspecified 3.8%, unaffiliated 2.4% (2004)
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: 1.04 male(s)/female


under 15 years: 1.03 male(s)/female


15-64 years: 1.03 male(s)/female


65 years and over: 0.82 male(s)/female


total population: 1 male(s)/female (2006 est.)
Telephones - main lines in use 190,700 (2003) 193,900 (2005)
Telephones - mobile cellular 279,100 (2003) 304,000 (2005)
Total fertility rate 1.93 children born/woman (2004 est.) 1.92 children born/woman (2006 est.)
Unemployment rate 3.4% (2003 est.) 2.1% (2005 est.)
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