Categories:
Size:
total: 103,000 sq km
land: 100,250 sq km
water: 2,750 sq km
Comparing sizes: slightly smaller than Kentucky, 2,5 times bigger than Denmark and the Netherlands, 1,25 times bigger than Ireland
Coastline: 4,988 km
Population: 296,737 (July 2005 est.)
Age structure:
0-14 years: 22.1% (male 33,302/female 32,257)
15-64 years: 66.2% (male 99,513/female 96,886)
65 years and over: 11.7% (male 15,723/female 19,056) (2005 est.)
Population growth rate: 0.91% (2005 est.)
Birth rate: 13.73 births/1,000 population (2005 est.)
Death rate: 6.68 deaths/1,000 population (2005 est.)
Sex ratio:
at birth: 1.04 male(s)/female
under 15 years: 1.03 male(s)/female
15-64 years: 1.03 male(s)/female
65 years and over: 0.82 male(s)/female
total population: 1 male(s)/female (2005 est.)
Infant moratality rate:
total: 3.31 deaths/1,000 live births
male: 3.45 deaths/1,000 live births
female: 3.16 deaths/1,000 live births (2005 est.)
Life expectancy at birth:
total population: 80.19 years
male: 78.13 years
female: 82.34 years (2005 est.)
Total fertility rate: 1.92 children born/woman (2005 est.)
Excecutive branch:
chief of state: President Olafur Ragnar GRIMSSON (since 1 August 1996)
head of government: Prime Minister Halldor ASGRIMSSON (since 15 September 2004); note - Former Prime Minister David ODDSSON switched positions with former Foreign Minister Halldor ASGRIMSON
cabinet: Cabinet appointed by the prime minister and approved by parliament
elections: president, which is largely a ceremonial post, elected by popular vote for a four-year term; election last held 26 June 2004 (next to be held June 2008); following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister
election results: Olafur Ragnar GRIMSSON wins with 85.6% of the vote, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%
Legislative branch:
unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)
elections: last held 10 May 2003 (next to be held by May 2007)
election results: percent of vote by party - Independence Party 33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%, Left-Green Alliance 8.8%, Liberal Party 7.4%; seats by party - Independence Party 22, Social Democratic Alliance 20, Progressive Party 12, Left-Green Alliance 5, Liberal Party 4
Judicial branch:
Supreme Court or Haestirettur (justices are appointed for life by the Minister of Justice); eight district courts (justices are appointed for life by the Minister of Justice)
Political parties and leaders:
Independence Party or IP [David ODDSSON]; Left-Green Alliance or LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List) or SDA [Ossur SKARPHEDINSSON
International organization participation:
Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO
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 geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 8% 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 estimates call for strong growth until 2007, slowly dropping until the end of the decade.
Inflation rate: 4% (2004 est.)
Labor force: 158,100 (2004 est.)
Labor force by occupation: agriculture, fishing and fish processing 10.3%, industry 18.3%, services 71.4% (2003)
Unemployment rate: 3.1% (2004 est.)
Budget:
revenues: $4.154 billion
expenditures: $4.058 billion, including capital expenditures of $467 million (2004 est.)
Public Debt: 35.9% of GDP (2004 est.)
Agriculture products: potatoes, green vegetables, mutton, dairy products, fish
Industries: fish processing; aluminum smelting, ferrosilicon production, geothermal power; tourism
Industrial production growth rate: 8.8% (2004 est.)
Electricity production: 8.271 billion kWh (2002)
Electricity consumption: 7.692 billion kWh (2002)
Oik consumption: 16,300 bbl/day (2001 est.)
Current account balance: $-570 million (2004 est.)
Exports: $2.902 billion f.o.b. (2004 est.)
Exports commodities: fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite.
Exports partners: UK 17.4%, Germany 17.3%, Netherlands 11.2%, US 9.9%, Spain 6.3%, Denmark 5.1%, Norway 4.6%, France 4% (2003)
Imports: $3.307 billion (2004 est.)
Imports commodities: machinery and equipment, petroleum products; foodstuffs, textiles
Imports partners: Germany 11.8%, Denmark 8%, US 7.5%, UK 7.4%, Norway 6.9%, Sweden 6.5%, Netherlands 6.2%, Italy 4.7% (2003)
Reserves of foreign exchange and gold: $935 million (2004)
Debt external: $3.073 billion (2002)
Highways:
total: 13,004 km
paved/oiled gravel: 4,331 km
unpaved: 8,673 km (2004)
Military manpower availability: males age 18-49: 69,038 (2005 est)
Military manpower availability fit for military services: males age 18-49: 56,777 (2005 est.)
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