Iceland




                                 Geography


Location:
     Nordic State, Northern Europe, in the North Atlantic Ocean, between
     Greenland and Norway
Map references:
     Arctic Region, Europe, North America, Standard Time Zones of the World
Area:
total area:
     103,000 sq km
land area:
     100,250 sq km
comparative area:
     slightly smaller than Kentucky
Land boundaries:
     0 km
Coastline:
     4,988 km
Maritime claims:
continental shelf:
     200 nm or the edge of continental margin
exclusive economic zone:
     200 nm
territorial sea:
     12 nm
International disputes:
     Rockall continental shelf dispute involving Denmark, Ireland, and the
     UK (Ireland and the UK have signed a boundary agreement in the Rockall
     area)
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
Natural resources:
     fish, hydropower, geothermal power, diatomite
Land use:
arable land:
     1%
permanent crops:
     0%
meadows and pastures:
     20%
forest and woodland:
     1%
other:
     78%
Irrigated land:
     NA sq km
Environment:
current issues:
     water pollution from fertilizer runoff; inadequate wastewater
     treatment




natural hazards:
     subject to earthquakes and volcanic activity
international agreements:
     party to - Air Pollution, Climate Change, Law of the Sea, Marine
     Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution,
     Wetlands; signed, but not ratified - Biodiversity, Environmental
     Modification, Marine Life Conservation
Note:
     strategic location between Greenland and Europe; westernmost European
     country; more land covered by glaciers than in all of continental
     Europe


                                  People


Population:
     263,599 (July 1994 est.)
note:
     population data estimates based on average growth rate may differ
     slightly from official population data because of volatile migration
     rates
Population growth rate:
     0.9% (1994 est.)
Birth rate:
     16.41 births/1,000 population (1994 est.)
Death rate:
     6.72 deaths/1,000 population (1994 est.)
Net migration rate:
     -0.73 migrant(s)/1,000 population (1994 est.)
Infant mortality rate:
     4 deaths/1,000 live births (1994 est.)
Life expectancy at birth:
total population:
     78.83 years
male:
     76.57 years
female:
     81.21 years (1994 est.)
Total fertility rate:
     2.11 children born/woman (1994 est.)
Nationality:
noun:
     Icelander(s)
adjective:
     Icelandic
Ethnic divisions:
     homogeneous mixture of descendants of Norwegians and Celts
Religions:
     Evangelical Lutheran 96%, other Protestant and Roman Catholic 3%, none
     1% (1988)
Languages:
     Icelandic
Literacy:
     age 15 and over can read and write (1976 est.)
total population:
     100%




male:
     NA%
female:
     NA%
Labor force:
     127,900
by occupation:
     commerce, transportation, and services 60.0%, manufacturing 12.5%,
     fishing and fish processing 11.8%, construction 10.8%, agriculture
     4.0% (1990)


                                Government


Names:
conventional long form:
     Republic of Iceland
conventional short form:
local long form:
     Lyoveldio Island
local short form:
     Island
Digraph:
     IC
Type:
     republic
Capital:
     Reykjavik
Administrative divisions:
     23 counties (syslar, singular - sysla) and 14 independent towns*
     (kaupstadhir, singular - kaupstadhur); Akranes*, Akureyri*,
     Arnessysla, Austur-Bardhastrandarsysla, Austur-Hunavatnssysla,
     Austur-Skaftafellssysla, Borgarfjardharsysla, Dalasysla,
     Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*,
     Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*, Myrasysla,
     Neskaupstadhur*, Nordhur-Isafjardharsysla, Nordhur-Mulasys-la,
     Nordhur-Thingeyjarsysla, Olafsfjordhur*, Rangarvallasysla, Reykjavik*,
     Saudharkrokur*, Seydhisfjordhur*, Siglufjordhur*, Skagafjardharsysla,
     Snaefellsnes-og Hnappadalssysla, Strandasysla, Sudhur-Mulasysla,
     Sudhur-Thingeyjarsysla, Vesttmannaeyjar*, Vestur-Bardhastrandarsysla,
     Vestur-Hunavatnssysla, Vestur-Isafjardharsysla,
     Vestur-Skaftafellssysla
Independence:
     17 June 1944 (from Denmark)
National holiday:
     Anniversary of the Establishment of the Republic, 17 June (1944)
Constitution:
     16 June 1944, effective 17 June 1944
Legal system:
     civil law system based on Danish law; does not accept compulsory ICJ
     jurisdiction
Suffrage:
     18 years of age; universal




Executive branch:
chief of state:
     President Vigdis FINNBOGADOTTIR (since 1 August 1980); election last
     held on 29 June 1988 (next scheduled for June 1996); results - there
     was no election in 1992 as President Vigdis FINNBOGADOTTIR was
     unopposed
head of government:
     Prime Minister David ODDSSON (since 30 April 1991)
cabinet:
     Cabinet; appointed by the president
Legislative branch:
     unicameral
Parliament (Althing):
     elections last held on 20 April 1991 (next to be held by April 1995);
     results - Independence Party 38.6%, Progressive Party 18.9%, Social
     Democratic Party 15.5%, People's Alliance 14.4%, Womens List 8.3%,
     Liberals 1.2%, other 3.1%; seats - (63 total) Independence 26,
     Progressive 13, Social Democratic 10, People's Alliance 9, Womens List
     5
Judicial branch:
     Supreme Court (Haestirettur)
Political parties and leaders:
     Independence Party (conservative), David ODDSSON; Progressive Party,
     Steingrimur HERMANNSSON; Social Democratic Party, Jon Baldvin
     HANNIBALSSON; People's Alliance (left socialist), Olafur Ragnar
     GRIMSSON; Women's List
Member of:
     Australian Group, BIS, CCC, CE, CSCE, EBRD, ECE, EFTA, FAO, GATT,
     IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IFC, ILO, IMF, IMO, INMARSAT,
     INTELSAT, INTERPOL, IOC, ISO, ITU, LORCS, MTCR, NACC, NATO, NC, NEA,
     NIB, OECD, PCA, UN, UNCTAD, UNESCO, UPU, WEU (associate), WHO, WIPO,
     WMO
Diplomatic representation in US:
chief of mission:
     Ambassador Einar BENEDIKTSSON
chancery:
     2022 Connecticut Avenue NW, Washington, DC 20008
telephone:
     (202) 265-6653 through 6655
FAX:
     (202) 265-6656
consulate(s) general:
     New York
US diplomatic representation:
chief of mission:
     Ambassador Parker W. BORG
embassy:
     Laufasvegur 21, Box 40, Reykjavik
mailing address:
     US Embassy, PSC 1003, Box 40, Reykjavik; FPO AE 09728-0340
telephone:
     [354] (1) 629100
FAX:
     [354] (1) 629139




Flag:
     blue with a red cross outlined in white that extends 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)


                                  Economy


Overview:
     Iceland's Scandinavian-type economy is basically capitalistic, but
     with an extensive welfare system, relatively low unemployment, and
     comparatively even distribution of income. The economy is heavily
     dependent on the fishing industry, which provides nearly 75% of export
     earnings and employs 12% of the workforce. In the absence of other
     natural resources - except energy - Iceland's economy is vulnerable to
     changing world fish prices. Iceland's economy has been in recession
     since 1988. The recession continued in 1993 due to a third year of
     cutbacks in fishing quotas as well as falling world prices for the
     country's main exports: fish and fish products, aluminum, and
     ferrosilicon. Real GDP declined 3.3% in 1992 and rose slightly, by
     0.4%, in 1993. The center-right government's economic goals 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 recession has led to a wave of bankruptcies and
     mergers throughout the economy, as well as the highest unemployment of
     the post-World War II period. Inflation, previously a serious problem,
     declined from double digit rates in the 1980s to only 3.7% in 1992-93.
National product:
     GDP - purchasing power equivalent - $4.2 billion (1993)
National product real growth rate:
     0.4% (1993 est.)
National product per capita:
     $16,000 (1993)
Inflation rate (consumer prices):
     4% (1993)
Unemployment rate:
     4.5% (1993 est.)
Budget:
revenues:
     $1.8 billion
expenditures:
     $1.9 billion, including capital expenditures of $191 million (1992)
Exports:
     $1.5 billion (f.o.b., 1992)
commodities:
     fish and fish products, animal products, aluminum, ferrosilicon,
     diatomite
partners:
     EC 68% (UK 25%, FRG 12%), US 11%, Japan 8% (1992)
Imports:
     $1.5 billion (c.i.f., 1992)
commodities:
     machinery and transportation equipment, petroleum products,
     foodstuffs, textiles




partners:
     EC 53% (Germany 14%, Denmark 10%, UK 9%), Norway 14%, US 9% (1992)
External debt:
     $3.9 billion (1992 est.)
Industrial production:
     growth rate 1.75% (1991 est.)
Electricity:
capacity:
     1,063,000 kW
production:
     5.165 billion kWh
consumption per capita:
     19,940 kWh (1992)
Industries:
     fish processing, aluminum smelting, ferro-silicon production,
     geothermal power
Agriculture:
     accounts for about 15% of GDP; fishing is most important economic
     activity, contributing nearly 75% to export earnings; principal crops
     - potatoes, turnips; livestock - cattle, sheep; self-sufficient in
     crops; fish catch of about 1.1 million metric tons in 1992
Economic aid:
recipient:
     US commitments, including Ex-Im (FY70-81), $19.1 million
Currency:
     1 Icelandic krona (IKr) = 100 aurar
Exchange rates:
     Icelandic kronur (IKr) per US$1 - 72.971 (January 1994), 67.603
     (1993), 57.546 (1992), 58.996 (1991), 58.284 (1990), 57.042 (1989)
Fiscal year:
     calendar year


                              Communications


Highways:
total:
     12,537 km
paved:
     2,690 km
unpaved:
     gravel, earth 9,847 km
Ports:
     Reykjavik, Akureyri, Hafnarfjordhur, Keflavik, Seydhisfjordhur,
     Siglufjordhur, Vestmannaeyjar
Merchant marine:
     8 ships (1,000 GRT or over) totaling 33,212 GRT/47,359 DWT, cargo 2,
     chemical tanker 1, oil tanker 1, refrigerated cargo 2,
     roll-on/roll-off cargo 2
Airports:
total:
     90
usable:
     84
with permanent-surface runways:
     9




with runways over 3,659 m:
     0
with runways 2,440-3,659 m:
     1
with runways 1,220-2,439 m:
     12
Telecommunications:
     adequate domestic service; coaxial and fiber-optical cables and
     microwave radio relay for trunk network; 140,000 telephones; broadcast
     stations - 5 AM, 147 (transmitters and repeaters) FM, 202
     (transmitters and repeaters) TV; 2 submarine cables; 1 Atlantic Ocean
     INTELSAT earth station carries all international traffic; a second
     INTELSAT earth station is scheduled to be operational in 1993


                              Defense Forces


Branches:
     Police, Coast Guard
note:
     no armed forces, Iceland's defense is provided by the US-manned
     Icelandic Defense Force (IDF) headquartered at Keflavik
Manpower availability:
     males age 15-49 70,074; fit for military service 62,197
Defense expenditures:
     none