Country name conventional long form: Republic of Iceland
conventional short form: Iceland
local short form: Island
local long form: Lydhveldidh Island 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.Location Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK Area total: 103,000 sq km
land: 100,250 sq km
water: 2,750 sq km Area - comparative slightly smaller than Kentucky Coastline 4,988 km Climate temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers Terrain mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords Elevation extremes lowest point: Atlantic Ocean 0 m
highest point: Hvannadalshnukur 2,119 m (at Vatnajokull glacier) Natural hazards earthquakes and volcanic activity Environment - current issues water pollution from fertilizer runoff; inadequate wastewater treatment 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 Population 280,798 (July 2003 est.) 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.) Median age total: 34 years
male: 33.2 years
female: 34.7 years (2002) 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.) Nationality noun: Icelander(s)
adjective: Icelandic Ethnic groups homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6% Religions Evangelical Lutheran 87.1%, other Protestant 4.1%, Roman Catholic 1.7%, other 7.1% (2002) Languages Icelandic, English, Nordic languages, German widely spoken Internet country code .is Literacy definition: age 15 and over can read and write
total population: 99.9% (1997 est.)
male: NA%
female: NA% Government type constitutional republic National holiday Independence Day, 17 June (1944) Legal system civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction 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 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%. 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) Currency Icelandic krona (ISK) Currency code ISK Exchange rates Icelandic kronur per US dollar - 91.66 (2002), 97.42 (2001), 78.62 (2000), 72.34 (1999), 70.96 (1998) Airports 86 (2002) Airports - with paved runways total: 13
over 3,047 m: 1
1,524 to 2,437 m: 4
914 to 1,523 m: 8 (2002) Airports - with unpaved runways total: 73
1,524 to 2,437 m: 3
914 to 1,523 m: 21
under 914 m: 49 (2002) 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); 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 |
