Geography
Area: 103,000 sq. km. (39,600 sq. mi.); about the size of Virginia
or slightly larger than Ireland.
Cities: Capital--Reykjavik (pop. 113,730). Other towns--Kopavogur
(25,784), Hafnarfjordur (21,942), Akureyri (16,450).
Terrain: Rugged.
Climate: Maritime temperate.
Highest elevation: Hvannadalshnjukur at Vatnajokull Glacier, at
2,111 meters (6,925 ft.).
People
Nationality: Noun--Icelander(s). Adjective--Icelandic.
Population (December 2003): 293,291.
Annual growth rate: 0.96%.
Ethnic group: Relatively homogenous mixture of descendants of
Norwegians and Celts.
Religion: Evangelical Lutheran, 86%.
Language: Icelandic.
Education: Compulsory up to age 16. Attendance--99%.
Literacy--99.9%.
Health: Infant mortality rate--2.2/1,000. Life expectancy--men
78.2 years, women 82.2 years.
Work force (2003, 166,600): Commerce--14.0%; manufacturing--11.2%;
fishing/fish processing--8.2%; construction--6.7%;
transportation and communications--6.8%; agriculture--4.4%;
unemployment (2003): 4.1%.
Government
Type: Semi-presidential, parliamentary.
Independence: 1918 (became "sovereign state" under Danish Crown);
1944 (establishment of republic).
Constitution: 1874.
Branches: Executive--president (head of state), prime
minister (head of government), cabinet (12 ministers).
Legislative--63-member unicameral parliament (Althingi).
Judicial--Supreme Court, district courts, special courts.
Subdivisions: 26 administrative districts and 104 municipalities.
Major political parties: Independence (IP), Progressive (PP), Social
Democratic Alliance (SDA), Left-Green Party (LGP), Liberal Party
(LP).
Suffrage: Universal 18 years and above.
National holiday: June 17, anniversary of the establishment of the
republic.
Economy
GDP (2004): $12.54 billion.
GDP growth rate (2003): 3%; (2004): 5.8%.
Per capita GDP, purchasing power parity (2003): $29,700 (2003).
Inflation rate (2004): 3.95%.
Budget (2004): $4.15 billion.
Annual budget surplus (2004): 0.8% of GDP.
Net public debt (2004): 28.4% of GDP.
Foreign aid as part of 2004 budget: 0.19% of GDP.
Natural resources: Marine products, hydroelectric and geothermal
power.
Agriculture: Products--potatoes, tomatoes, cucumbers,
turnips, livestock.
Industry: Types--aluminum smelting, fishing and fish
processing technology, ferro-silicon alloy production, hydro and
geothermal power, tourism, information technology.
Trade: Exports of goods (2004)--$2.82 billion: marine
products 62%, industrial products 34%, agriculture 2%, and
miscellaneous 2%. Partners--EU 72% (U.K. 18%, Germany 17%,
Netherlands 11%, Spain 6%, Denmark 5%); U.S. 9% ($218 million); EFTA
6%; Japan 3%. Imports (2004)--$3.39 billion: industrial
supplies 27%; capital goods, parts, accessories 23%; consumer goods
20%; transport equipment 14%; food and beverages 9%; fuels and
lubricants 8%. Partners--EU 62% (Germany 13%, Denmark 9%,
U.K. 8%, Sweden 7%, Netherlands 7%); U.S. 8% ($208 million); EFTA
9%; Japan 4%.
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