Iceland (2006) | Bahamas, The (2002) | |
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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: 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.) |
0-14 years: 29% (male 43,964; female 43,250)
15-64 years: 64.7% (male 95,508; female 98,859) 65 years and over: 6.3% (male 7,948; female 11,000) (2002 est.) |
Agriculture - products | potatoes, green vegetables; mutton, dairy products; fish | citrus, vegetables; poultry |
Airports | 98 (2006) | 67 (2001) |
Airports - with paved runways | total: 5
over 3,047 m: 1 1,524 to 2,437 m: 3 914 to 1,523 m: 1 (2006) |
total: 30
over 3,047 m: 2 2,438 to 3,047 m: 3 1,524 to 2,437 m: 12 914 to 1,523 m: 11 under 914 m: 2 (2002) |
Airports - with unpaved runways | total: 93
1,524 to 2,437 m: 3 914 to 1,523 m: 29 under 914 m: 61 (2006) |
total: 34 35
1,524 to 2,437 m: 3 914 to 1,523 m: 9 under 914 m: 3 23 (2002) |
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 | 13.64 births/1,000 population (2006 est.) | 18.69 births/1,000 population (2002 est.) |
Budget | revenues: $6.995 billion
expenditures: $6.761 billion; including capital expenditures of $467 million (2005 est.) |
revenues: $918.5 million
expenditures: $956.5 million, including capital expenditures of $106.7 million (FY99/00) |
Capital | name: Reykjavik
geographic coordinates: 64 09 N, 21 57 W time difference: UTC (5 hours ahead of Washington, DC during Standard Time) |
Nassau |
Climate | temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers | tropical marine; moderated by warm waters of Gulf Stream |
Coastline | 4,970 km | 3,542 km |
Constitution | 16 June 1944, effective 17 June 1944; amended many times | 10 July 1973 |
Country name | conventional long form: Republic of Iceland
conventional short form: Iceland local long form: Lydveldid Island local short form: Island |
conventional long form: Commonwealth of The Bahamas
conventional short form: The Bahamas |
Currency | - | Bahamian dollar (BSD) |
Death rate | 6.72 deaths/1,000 population (2006 est.) | 7.49 deaths/1,000 population (2002 est.) |
Debt - external | $3.073 billion (2002) | $381.9 million (2000) |
Diplomatic representation from the US | 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 |
chief of mission: Ambassador J. Richard BLANKENSHIP
embassy: 42 Queen Street, Nassau mailing address: local or express mail address: P. O. Box N-8197, Nassau; stateside address: American Embassy Nassau, P. O. Box 599009, Miami, FL 33159-9009; pouch address: Nassau, Department of State, Washington, DC 20521-3370 telephone: [1] (242) 322-1181, 328-2206 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 | 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 | none |
Economic aid - donor | $6.7 million $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 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. | 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 almost half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have led to solid GDP growth in recent years. 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 the majority of tourist visitors. |
Electricity - consumption | 8.619 billion kWh (2004) | 1.432 billion kWh (2000) |
Electricity - exports | 0 kWh (2003) | 0 kWh (2000) |
Electricity - imports | 0 kWh (2003) | 0 kWh (2000) |
Electricity - production | 8.619 billion kWh (2004) | 1.54 billion kWh (2000) |
Electricity - production by source | - | fossil fuel: 100%
hydro: 0% nuclear: 0% other: 0% (2000) |
Elevation extremes | lowest point: Atlantic Ocean 0 m
highest point: Hvannadalshnukur 2,110 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, 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 |
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Nuclear Test Ban, 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 - 62.982 (2005), 70.192 (2004), 76.709 (2003), 91.662 (2002), 97.425 (2001) | Bahamian dollars per US dollar - 1.000 (fixed rate pegged to the dollar) |
Executive branch | 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% |
chief of state: Queen ELIZABETH II (since 6 February 1952), represented by Governor General 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) | $535.8 million (2000) |
Exports - commodities | fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite | fish and crawfish; rum, salt, chemicals; fruit and vegetables (1999) |
Exports - partners | UK 17.9%, Germany 16.4%, Netherlands 13%, US 8.1%, Spain 7.7%, Denmark 4.3% (2005) | US 28.2%, France 16.5%, Germany 14.1%, UK 12.4% (2000) |
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 - $5 billion (2001 est.) |
GDP - composition by sector | agriculture: 8.6%
industry: 15% services: 76.5% (2005 est.) |
agriculture: 3%
industry: 7% services: 90% (1999 est.) |
GDP - per capita | - | purchasing power parity - $16,800 (2000 est.) |
GDP - real growth rate | 5.6% (2005 est.) | 3.5% (2001) |
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 (2002) |
Highways | - | total: 2,693 km
paved: 1,546 km unpaved: 1,147 km (1997) |
Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
lowest 10%: NA%
highest 10%: NA% |
Illicit drugs | - | transshipment point for cocaine and marijuana bound for US and Europe; offshore financial center |
Imports | 15,470 bbl/day (2001) | $1.88 billion (2000) |
Imports - commodities | machinery and equipment, petroleum products, foodstuffs, textiles | machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals (1999) |
Imports - partners | 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) | US 31.6%, South Korea 18.2%, Italy 17.4%, Japan 5.8% (2000) |
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 | 14.2% (2005 est.) | NA% |
Industries | fish processing; aluminum smelting, ferrosilicon production; geothermal power, tourism | tourism, banking, cement, oil refining and transshipment, salt, rum, aragonite, pharmaceuticals, spiral-welded steel pipe |
Infant mortality rate | 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.) |
17.08 deaths/1,000 live births (2002 est.) |
Inflation rate (consumer prices) | 4% (2005 est.) | 1.5% (2001 est.) |
International organization participation | 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 | ACP, C, Caricom, CCC, CDB, ECLAC, FAO, G-77, IADB, IBRD, ICAO, ICFTU, ICRM, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ITU, LAES, NAM, OAS, OPANAL, OPCW (signatory), UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTrO (observer) |
Internet Service Providers (ISPs) | - | 19 (2000) |
Irrigated land | NA | NA sq km |
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 | 165,900 (2005 est.) | 156,000 (1999) |
Labor force - by occupation | agriculture: 10.3%
industry: 18.3% services: 71.4% (2003) |
tourism 40%, other services 50%, industry 5%, agriculture 5% (1995 est.) |
Land boundaries | 0 km | 0 km |
Land use | arable land: 0.07%
permanent crops: 0% other: 99.93% (2005) |
arable land: 0.6%
permanent crops: 0.4% other: 99% (1998 est.) |
Languages | Icelandic, English, Nordic languages, German widely spoken | English, 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%, 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 |
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)
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: 80.31 years
male: 78.23 years female: 82.48 years (2006 est.) |
total population: 69.87 years
male: 66.32 years female: 73.49 years (2002 est.) |
Literacy | definition: age 15 and over can read and write
total population: 99% male: 99% female: 99% (2003 est.) |
definition: age 15 and over can read and write
total population: 98.2% male: 98.5% female: 98% (1995 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 |
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 |
exclusive economic zone: 200 NM
territorial sea: 12 NM |
Merchant marine | 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) |
total: 1,076 ships (1,000 GRT or over) totaling 31,309,187 GRT/45,859,485 DWT
ships by type: bulk 159, cargo 246, chemical tanker 41, combination bulk 13, combination ore/oil 22, container 80, liquefied gas 28, livestock carrier 2, multi-functional large-load carrier 8, passenger 88, passenger/cargo 1, petroleum tanker 178, railcar carrier 1, refrigerated cargo 120, roll on/roll off 49, short-sea passenger 16, specialized tanker 2, vehicle carrier 22 note: includes some foreign-owned ships registered here as a flag of convenience: Angola 1, Argentina 1, Australia 4, Belgium 18, Bermuda 1, Canada 5, Chile 1, China 3, Croatia 2, Cuba 3, Cyprus 2, Denmark 27, Ecuador 1, Estonia 2, Finland 9, France 15, Germany 26, Greece 173, Hong Kong 6, India 2, Indonesia 2, Ireland 1, Israel 3, Italy 9, Jamaica 1, Japan 32, Kenya 3, Malaysia 10, Malta 2, Monaco 67, Netherlands 32, New Zealand 2, Norway 237, Panama 2, Philippines 3, Poland 13, Reunion 1, Russia 6, Saudi Arabia 9, Singapore 13, Slovenia 1, South Korea 2, Spain 7, Sweden 12, Switzerland 8, Thailand 1, Trinidad and Tobago 2, Turkey 2, Ukraine 2, United Arab Emirates 10, United Kingdom 107, United States 159, Uruguay 1 (2002 est.) |
Military - note | 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; Icelandic National Police, Icelandic Coast Guard (Islenska Landhelgisgaeslan) subordinate to Ministry of Justice, Icelandic Crisis Response Unit (2006) | Royal Bahamas Defense Force (Coast Guard only), Royal Bahamas Police Force |
Military expenditures - dollar figure | 0 | $20 million (FY95/96) |
Military expenditures - percent of GDP | 0% | 0.7% (FY99) |
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 | 1.74 migrant(s)/1,000 population (2006 est.) | -2.63 migrant(s)/1,000 population (2002 est.) |
Political parties and leaders | 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] | Free National Movement or FNM [Tommy TURNQUEST]; Progressive Liberal Party or PLP [Perry CHRISTIE] |
Political pressure groups and leaders | NA | NA |
Population | 299,388 (July 2006 est.) | 300,529
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 2002 est.) |
Population below poverty line | NA% | NA% |
Population growth rate | 0.87% (2006 est.) | 0.86% (2002 est.) |
Ports and harbors | - | Freeport, Matthew Town, Nassau |
Radio broadcast stations | AM 3, FM about 70 (including repeaters), shortwave 1 (1998) | AM 3, FM 4, shortwave 0 (1998) |
Radios | - | 215,000 (1997) |
Railways | - | 0 km |
Religions | 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) | Baptist 32%, Anglican 20%, Roman Catholic 19%, Methodist 6%, Church of God 6%, other Protestant 12%, none or unknown 3%, other 2% |
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: 0.82 male(s)/female total population: 1 male(s)/female (2006 est.) |
at birth: 1.02 male(s)/female
under 15 years: 1.02 male(s)/female 15-64 years: 0.97 male(s)/female 65 years and over: 0.72 male(s)/female total population: 0.96 male(s)/female (2002 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: tropospheric scatter and submarine cable to Florida; 3 coaxial submarine cables; satellite earth station - 1 Intelsat (Atlantic Ocean) (1997) |
Telephones - main lines in use | 193,900 (2005) | 96,000 (1997) |
Telephones - mobile cellular | 304,000 (2005) | 6,152 (1997) |
Television broadcast stations | 14 (plus 156 low-power repeaters) (1997) | 1 (1997) |
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 | 1.92 children born/woman (2006 est.) | 2.28 children born/woman (2002 est.) |
Unemployment rate | 2.1% (2005 est.) | 6.9% (2001 est.) |
Waterways | - | none |