Iceland FlagIceland

A Bad Rower Blames His Oars.



Population: 317,351 (2014), 315,281 (2013)
Land Area: 103,000 sq km
Natural Resources: Fish, hydropower, geothermal power, diatomite
Capital: Reykjavik
Political System: Constitutional Republic
State Leader: Olafur Ragna Grimsson (August 1st 1996)
Head of Government: Sigmundur Gunnlaugsson (May 23rd 2013)
Languages: Icelandic, English, Nordic languages, German
Currency: Icelandic Krona (ISK)
Major 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%
Major Ethnicities: Norse And Celts 94%, Foreign Origin 6%
Life Expectancy: 81.22 years (2014), 81.11 years (2013)


GDP Official Exchange Rate: 13.11 billion (2013), 13.65 billion (2012)
GDP Purchasing Power Parity: 14.59 billion (2013), 13.04 billion (2012)
GDP Per Capita (PPP): 40,700 (2013), 39,900 (2012)
GDP Growth Rate: 1.9% (2013), 1.6% (2012)
GDP Structure: Agriculture 5.9%, Industry 22.9%, Services 71.2% (2013)
Labour Force By Occupation: Agriculture 4.8%, Industry 22.2%, Services 73% (2008)
Industries: Fish processing, aluminum smelting, ferrosilicon production; geothermal power, tourism
Agriculture Products: Potatoes, green vegetables; mutton, dairy products; fish
Human Development Index: 0.895 (13th)(2014), 0.906 (13th)(2013)
Tourism Revenue: 558 million (2004)
Unemployment Rate: 4.5% (2013)

MilitaryIceland Map

Army Size: 130 (2004)
Budget: 0.3% of GDP (2004)

Current Situation


Iceland is located in the North Atlantic Ocean. Iceland's economy is very developed and has one of the highest GDP's per capita in the world. The global economic crisis has hit Iceland hard in 2008, the country's major banks collapsed. In January 2009 the government resigned, being unable to contain the economic crisis.

(2014) Iceland's economy is growing again following the banking crisis that ended in 2011. The growth is slow however and is tied to the overall performance of its European Union peers.

Thoughts & Comments



CIA World Factbook: Iceland
Wikipedia: Iceland

Updated on: September 17th, 2014