ICELAND
GEOGRAPHY
Total area: 103,000 km2; land area: 100,250 km2
Comparative area: slightly smaller than Kentucky
Land boundaries: none
Coastline: 4,988 km
Maritime claims:
Continental shelf: edge of continental margin or 200 nm;
Exclusive economic zone: 200 nm;
Territorial sea: 12 nm
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, hydroelectric and geothermal power,
diatomite
Land use: arable land NEGL%; permanent crops 0%; meadows and
pastures 23%; forest and woodland 1%; other 76%
Environment: subject to earthquakes and volcanic activity
Note: strategic location between Greenland and Europe;
westernmost European country
PEOPLE
Population: 259,742 (July 1991), growth rate 1.0% (1991)
Birth rate: 17 births/1,000 population (1991)
Death rate: 7 deaths/1,000 population (1991)
Net migration rate: 0 migrants/1,000 population (1991)
Infant mortality rate: 7 deaths/1,000 live births (1991)
Life expectancy at birth: 75 years male, 80 years female (1991)
Total fertility rate: 2.2 children born/woman (1991)
Chief of State--President Vigdis FINNBOGADOTTIR (since 1
August 1980);
Head of Government--Prime Minister David ODDSSON (since
30 April 1991)
Political parties and leaders:
Independence (conservative), David ODDSSON;
Progressive, Steingrimur HERMANNSSON;
Social Democratic, Jon Baldvin HANNIBALSSON;
People's Alliance (left socialist), Olafur Ragnar GRIMSSON;
Citizens Party (conservative nationalist), Julius SOLNES;
Women's List
Suffrage: universal at age 20
Elections:
President--last held on 29 June 1980 (next scheduled for June
1992); results--there were no elections in 1984 and 1988 as President
Vigdis FINNBOGADOTTIR was unopposed;
Althing--last held on 20 April 1991 (next to be held by
April 1995);
results--Independence 38.6%, Progressive 18.9%, Social Democratic 15.5%,
People's Alliance 14.4%, Womens List 8.13%, Liberals 1.2%, other 3.27%
seats--(63 total) Independence 26, Progressive 13, Social Democratic 10,
People's Alliance 9, Womens List 5
Communists: less than 100 (est.), some of whom participate in the
People's Alliance
Diplomatic representation: Ambassador Tomas A. TOMASSON; Chancery
at 2022 Connecticut Avenue NW, Washington DC 20008; telephone (202)
265-6653 through 6655; there is an Icelandic Consulate General in New
York;
US--Ambassador Charles E. COBB, Jr.; Embassy at Laufasvegur 21,
Box 40, Reykjavik (mailing address is FPO New York 09571-0001); telephone
354 (1) 29100
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 prosperous Scandinavian-type economy is
basically capitalistic, but with extensive welfare measures, low
unemployment, and comparatively even distribution of income. The economy
is heavily dependent on the fishing industry, which provides nearly 75%
of export earnings. In the absence of other natural resources, Iceland's
economy is vulnerable to changing world fish prices. As a result of
climbing fish prices in 1990 and a noninflationary labor agreement,
Iceland is pulling out of a recession, which began in mid-1988 with a
sharp decline in fish prices and an imposition of quotas on fish catches
to conserve stocks. Inflation was down sharply from 20% in 1989
to 8% in 1990.
GDP: $4.2 billion, per capita $16,300; real growth rate 0%
(1990)
Inflation rate (consumer prices): 7.8% (1990)
Unemployment rate: 1.8% (1990)
Budget: revenues $1.58 billion; expenditures $1.66 billion,
including capital expenditures of $NA million (1990)
Exports: $1.6 billion (f.o.b., 1990);
commodities--fish and fish products, animal products, aluminum,
diatomite;
partners--EC 67.7% (UK 25.3%, FRG 12.7%), US 9.9%,
Japan 6%
Imports: $1.7 billion (c.i.f., 1990);
commodities--machinery and transportation equipment, petroleum,
foodstuffs, textiles;
partners--EC 49.8% (FRG 12.4%, Denmark 8.6%, UK 8.1%), US 14.4%,
Japan 5.6%
External debt: $3 billion (1990)
Industrial production: growth rate - 0.8% (1988 est.); accounts
for 22% of GDP
Electricity: 1,063,000 kW capacity; 5,165 million kWh produced,
20,780 kWh per capita (1989)
Industries: fish processing, aluminum smelting, ferro-silicon
production, hydropower
Agriculture: accounts for about 25% of GDP (including fishing);
fishing is most important economic activity, contributing nearly 75%
to export earnings; principal crops--potatoes and turnips;
livestock--cattle, sheep; self-sufficient in crops; fish catch of
about 1.4 million metric tons in 1989
Economic aid: US commitments, including Ex-Im (FY70-81), $19.1
million
Fiscal year: calendar year
COMMUNICATIONS
Highways: 12,343 km total; 166 km bitumen and concrete; 1,284 km
bituminous treated and gravel; 10,893 km earth
Merchant marine: 16 ships (1,000 GRT or over) totaling 53,409
GRT/73,279 DWT; includes 8 cargo, 2 refrigerated cargo, 1 container,
2 roll-on/roll-off cargo, 1 petroleum, oils, and lubricants (POL) tanker,
1 chemical tanker, 1 bulk
Civil air: 20 major transport aircraft
Airports: 99 total, 92 usable; 4 with permanent-surface runways;
none with runways over 3,659 m; 1 with runways 2,440-3,659 m;
14 with runways 1,220-2,439 m
Telecommunications: adequate domestic service, wire and radio
communication system; 135,000 telephones; stations--10 AM, 17 (43 relays)
FM, 14 (132 relays) TV; 2 submarine cables; 1 Atlantic Ocean INTELSAT
earth station
DEFENSE FORCES
Branches: no armed forces; State Criminal Police, Coast Guard;
Iceland's defense is provided by the US-manned Icelandic Defense Force
(IDF) headquartered at Keflavik
Manpower availability: males 15-49, 69,644; 62,248 fit for military
service; no conscription or compulsory military service
