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Flag of Iceland

Iceland

Europe Reykjavik

Population

364.0K

Area

103,000 km²

GDP

$33.46B

GDP Per Capita

$65,600

Pop. Density

4/km²

Quick Facts

Currency

krIcelandic króna(ISK)

Calling Code

+354

Timezone

UTC

Languages

Icelandic

Driving Side

right

Demonym

Icelander

Map of Iceland

Background

Settled by Norwegian and Celtic (Scottish and Irish) immigrants during the late 9th and 10th centuries A.D., Iceland boasts the world's oldest functioning legislative assembly, the Althingi, which was established in 930. Independent for over 300 years, Iceland was subsequently ruled by Norway and Denmark. Fallout from the Askja volcano of 1875 devastated the Icelandic economy and caused widespread famine. Over the next quarter-century, 20% of the island's population emigrated, mostly to Canada and the US. Denmark granted limited home rule in 1874 and complete independence in 1944. The second half of the 20th century saw substantial economic growth driven primarily by the fishing industry. The economy diversified greatly after the country joined the European Economic Area in 1994, but the global financial crisis hit Iceland especially hard in the years after 2008. The economy is now on an upward trajectory, primarily thanks to a tourism and construction boom. Literacy, longevity, and social cohesion are first-rate by world standards.

Historical Trends

GDP (USD)

↑88.2% since 2006
$18B (2006)$33B (2024)

Population

↑27.2% since 2006
303,782 (2006)386,506 (2024)

Life Expectancy at Birth

Latest: 82.6 years
2006: 81.2 years2023: 82.6 years

Data source: World Bank Open Data

Geography17

Location

Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom

Geographic coordinates

65 00 N, 18 00 W

Map references

Arctic Region

Area

total : 103,000 sq km
land: 100,250 sq km
water: 2,750 sq km

Area - comparative

slightly smaller than Pennsylvania; about the same size as Kentucky

Land boundaries

total: 0 km

Coastline

4,970 km

Maritime claims

territorial sea: 12 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin

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

Elevation

highest point: Hvannadalshnukur (at Vatnajokull Glacier) 2,110 m
lowest point: Atlantic Ocean 0 m
mean elevation: 557 m

Natural resources

fish, hydropower, geothermal power, diatomite

Land use

agricultural land

16.2% (2023 est.)

agricultural land: arable land

arable land: 1.2% (2023 est.)

agricultural land: permanent crops

permanent crops: 0% (2022 est.)

agricultural land: permanent pasture

permanent pasture: 15% (2023 est.)

forest

0.6% (2023 est.)

other

82.6% (2023 est.)

Irrigated land

0.5 sq km (2022)

Population distribution

Iceland is almost entirely urban, with half of the population located in and around the capital of Reykjavik; smaller clusters are primarily found along the coast in the north and west

Natural hazards

earthquakes and volcanic activity

volcanism: Iceland is situated on top of a hotspot and experiences severe volcanic activity; Eyjafjallajokull (1,666 m) erupted in 2010, sending ash high into the atmosphere and seriously disrupting European air traffic; scientists continue to monitor nearby Katla (1,512 m), which has a high probability of eruption; Grimsvoetn and Hekla are Iceland's most active volcanoes; other historically active volcanoes include Askja, Bardarbunga, Brennisteinsfjoll, Esjufjoll, Hengill, Krafla, Krisuvik, Kverkfjoll, Oraefajokull, Reykjanes, Torfajokull, and Vestmannaeyjar

Geography - note

strategic location between Greenland and Europe; westernmost European country; Reykjavik is the northernmost national capital in the world; more land covered by glaciers than in all of continental Europe

People & Society33

Population

total: 364,036 (2024 est.)
male: 182,268
female: 181,768

Nationality

noun: Icelander(s)
adjective: Icelandic

Ethnic groups

Icelandic 78.7%, Polish 5.8%, Danish 1%, Ukrainian 1%, other 13.5% (2024 est.)

Languages

Icelandic, English, Polish, Nordic languages, German

Religions

Evangelical Lutheran Church of Iceland (official) 58.6% Roman Catholic 3.8%, Independent Congregation of Reykjavik 2.6%, Independent Congregation of Hafnarfjordur 1.9%, pagan worship 1.5%, Icelandic Ethical Humanist Association 1.4%, other (includes Zuist and Pentecostal) or unspecified 18.7%, none 7.7% (2024 est.)

Age structure

0-14 years: 19.8% (male 36,692/female 35,239)
15-64 years: 63.2% (male 116,210/female 113,810)
65 years and over: 17.1% (2024 est.) (male 29,366/female 32,719)

Dependency ratios

total dependency ratio: 58.3 (2024 est.)
youth dependency ratio: 31.3 (2024 est.)
elderly dependency ratio: 27 (2024 est.)
potential support ratio: 3.7 (2024 est.)

Median age

total: 38.2 years (2025 est.)
male: 37.4 years
female: 38.6 years

Population growth rate

0.82% (2025 est.)

Birth rate

12.47 births/1,000 population (2025 est.)

Death rate

6.62 deaths/1,000 population (2025 est.)

Net migration rate

2.3 migrant(s)/1,000 population (2025 est.)

Population distribution

Iceland is almost entirely urban, with half of the population located in and around the capital of Reykjavik; smaller clusters are primarily found along the coast in the north and west

Urbanization

urban population: 94% of total population (2023)
rate of urbanization: 0.74% annual rate of change (2020-25 est.)

Major urban areas - population

216,000 REYKJAVIK (capital) (2018)

Sex ratio

at birth: 1.05 male(s)/female
0-14 years: 1.04 male(s)/female
15-64 years: 1.02 male(s)/female
65 years and over: 0.9 male(s)/female
total population: 1 male(s)/female (2024 est.)

Mother's mean age at first birth

28.7 years (2020 est.)

Maternal mortality ratio

3 deaths/100,000 live births (2023 est.)

Infant mortality rate

total: 1.6 deaths/1,000 live births (2025 est.)
male: 1.8 deaths/1,000 live births
female: 1.4 deaths/1,000 live births

Life expectancy at birth

total population: 84 years (2024 est.)
male: 81.8 years
female: 86.3 years

Total fertility rate

1.93 children born/woman (2025 est.)

Gross reproduction rate

0.94 (2025 est.)

Drinking water source

improved: urban

urban: 100% of population (2022 est.)

improved: rural

rural: 100% of population (2022 est.)

improved: total

total: 100% of population (2022 est.)

unimproved: urban

urban: 0% of population (2022 est.)

unimproved: rural

rural: 0% of population (2022 est.)

unimproved: total

total: 0% of population (2022 est.)

Health expenditure

Health expenditure (as % of GDP): 8.6% of GDP (2022)
Health expenditure (as % of national budget): 16.5% of national budget (2022 est.)

Physician density

4.37 physicians/1,000 population (2023)

Hospital bed density

2.8 beds/1,000 population (2020 est.)

Sanitation facility access

improved: urban

urban: 100% of population (2022 est.)

improved: rural

rural: 100% of population (2022 est.)

improved: total

total: 100% of population (2022 est.)

unimproved: urban

urban: 0% of population (2022 est.)

unimproved: rural

rural: 0% of population (2022 est.)

unimproved: total

total: 0% of population (2022 est.)

Obesity - adult prevalence rate

21.9% (2016)

Alcohol consumption per capita

total: 7.72 liters of pure alcohol (2019 est.)
beer: 4.39 liters of pure alcohol (2019 est.)
wine: 2.11 liters of pure alcohol (2019 est.)
spirits: 1.22 liters of pure alcohol (2019 est.)
other alcohols: 0 liters of pure alcohol (2019 est.)

Tobacco use

total: 8% (2025 est.)
male: 7.9% (2025 est.)
female: 8% (2025 est.)

Currently married women (ages 15-49)

48.5% (2023 est.)

Education expenditure

Education expenditure (% GDP): 7.3% of GDP (2022 est.)
Education expenditure (% national budget): 15.7% national budget (2022 est.)

School life expectancy (primary to tertiary education)

total: 19 years (2022 est.)
male: 18 years (2022 est.)
female: 20 years (2022 est.)

Government24

Country name

conventional long form: none
conventional short form: Iceland
local long form: none
local short form: Island
etymology: Floki VILGERDARSON, an early Norse explorer of the island in the 10th century, applied the name "Land of Ice," from the local words ís (ice) and land (land)

Government type

unitary parliamentary republic

Capital

name: Reykjavik
geographic coordinates: 64 09 N, 21 57 W
time difference: UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
etymology: the name means "smoky bay" in Icelandic and refers to the steam from the hot springs in the area

Administrative divisions

64 municipalities (sveitarfelog, singular - sveitarfelagidh); Akranes, Akureyri, Arneshreppur, Asahreppur, Blaskogabyggdh, Bolungarvik, Borgarbyggdh, Dalabyggdh, Dalvikurbyggdh, Eyjafjardharsveit, Eyja-og Miklaholtshreppur, Fjallabyggdh, Fjardhabyggdh, Fljotsdalshreppur, Floahreppur, Gardhabaer, Grimsnes-og Grafningshreppur, Grindavikurbaer, Grundarfjardharbaer, Grytubakkahreppur, Hafnarfjordhur, Horgarsveit, Hrunamannahreppur, Hunathing Vestra, Hunabyggdh, Hvalfjardharsveit, Hveragerdhi, Isafjardharbaer, Kaldrananeshreppur, Kjosarhreppur, Kopavogur, Langanesbyggdh, Mosfellsbaer, Mulathing, Myrdalshreppur, Nordhurthing, Rangarthing Eystra, Rangarthing Ytra, Reykholahreppur, Reykjanesbaer, Reykjavik, Seltjarnarnes, Skaftarhreppur, Skagabyggdh, Skagafjordhur, Skeidha-og Gnupverjahreppur, Skorradalshreppur, Snaefellsbaer, Strandabyggdh, Stykkisholmur, Sudhavikurhreppur, Sudhurnesjabaer, Svalbardhsstrandarhreppur, Sveitarfelagidh Arborg, Sveitarfelagidh Hornafjordhur, Sveitarfelagidh Olfus, Sveitarfelagidh Skagastrond, Sveitarfelagidh Vogar, Talknafjardharhreppur, Thingeyjarsveit, Tjorneshreppur, Vestmannaeyjar, Vesturbyggdh, Vopnafjardharhreppur

Legal system

civil law system influenced by the Danish model

Constitution

history: several previous; latest ratified 16 June 1944, effective 17 June 1944 (at independence)
amendment process: proposed by the Althingi; passage requires approval by the Althingi and by the next elected Althingi, and confirmation by the president of the republic; proposed amendments to Article 62 of the constitution – that the Evangelical Lutheran Church shall be the state church of Iceland – also require passage by referendum

International law organization participation

has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction

Citizenship

citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Iceland
dual citizenship recognized: yes
residency requirement for naturalization: 3 to 7 years

Suffrage

18 years of age; universal

Executive branch

chief of state

President Halla TOMASDOTTIR (since 1 August 2024)

head of government

Prime Minister Kristrun FROSTADOTTIR (since 21 December 2024)

cabinet

Cabinet appointed by the president upon the recommendation of the prime minister

election/appointment process

president directly elected by simple-majority popular vote for a 4-year term (no term limits); following legislative elections, the leader of the majority party or majority coalition becomes prime minister

most recent election date

1 June 2024

election results


2024:
Halla TOMASDOTTIR elected president; percent of vote - Halla TOMASDOTTIR (independent) 34.1%, Katrin JAKOBSDOTTIR (Left-Green Movement) 25.2%, Halla Hrund LOGADOTTIR (independent) 15.7%, Jon GNARR (Social Democratic Alliance) 10.1%, Baldur PORHALLSSON (independent) 8.4%, other 6.5%

2020:
Gudni Thorlacius JOHANNESSON reelected president; percent of vote - Gudni Thorlacius JOHANNESSON (independent) 92.2%, Gudmundur Franklin JONSSON (independent) 7.8%

expected date of next election

June 2028

Legislative branch

legislature name

Parliament (Althingi)

legislative structure

unicameral

number of seats

63 (all directly elected)

electoral system

proportional representation

scope of elections

full renewal

term in office

4 years

most recent election date

11/30/2024

parties elected and seats per party

Social Democratic Alliance (SDA) (15); Independence Party (IP) (14); Liberal Reform Party (11); People’s Party (10); Center Party (8); Progressive Party (PP) (5)

percentage of women in chamber

46%

expected date of next election

November 2028

Judicial branch

highest court(s): Supreme Court or Haestirettur (consists of 7 judges)
judge selection and term of office: judges proposed by Ministry of Interior selection committee and appointed by the president for an indefinite period
subordinate courts: Appellate Court or Landsrettur; 8 district courts; Labor Court

Political parties

Center Party or M 
Independence Party or D 
Liberal Reform Party or C
People's Party or F
Progressive Party or B 
Social Democratic Alliance or S

Diplomatic representation in the US

chief of mission: Ambassador Svanhildur Hólm VALSDÓTTIR (since 18 September 2024)
chancery: House of Sweden, 2900 K Street NW, #509, Washington, DC 20007
telephone: [1] (202) 265-6653
FAX: [1] (202) 265-6656
email address and website:
[email protected]

https://www.government.is/diplomatic-missions/embassy-of-iceland-in-washington-d.c/

Diplomatic representation from the US

chief of mission

Ambassador (vacant); Chargé d’Affaires Erin SAWYER (since January 2025)

embassy

Engjateigur 7, 105 Reykjavik

mailing address

5640 Reykjavik Place, Washington, D.C. 20521-5640

telephone

[354] 595-2200

FAX

[354] 562-9118

email address and website


[email protected]

https://is.usembassy.gov/

International organization participation

Arctic Council, Australia Group, BIS, CBSS, CD, CE, EAPC, EBRD, EFTA, FAO, FATF, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NATO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UPU, WCO, WHO, WIPO, WMO, WTO

Independence

1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark; birthday of Jon SIGURDSSON, leader of Iceland's 19th-century independence movement)

National holiday

Independence Day, 17 June (1944)

Flag

description: blue with a red cross outlined in white extending to the edges of the flag; the cross is shifted to the left in the style of the Dannebrog (Danish flag)

meaning: red stands for the island's volcanic fires, white for the snow and ice fields, and blue for the ocean

National symbol(s)

gyrfalcon

National color(s)

blue, white, red

National coat of arms

Iceland’s coat of arms is derived from a 13th-century folktale about four guardians who protect the four corners of the nation; the bull protects the northwest, the eagle the northeast, the dragon the southeast, and the rock-giant the southwest; the shield displays the national flag, with red standing for Iceland’s volcanic fires, white for its snow and ice fields, and blue for the ocean

National anthem(s)

title: "Lofsongur" (Song of Praise)
lyrics/music: Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON
history: adopted 1918

National heritage

total World Heritage Sites: 3 (1 cultural, 2 natural)
selected World Heritage Site locales: Thingvellir National Park (c); Surtsey (n); Vatnajökull National Park - Dynamic Nature of Fire and Ice (n)

Economy30

Economic overview

high-income North Atlantic island economy; not an EU member but market integration via European Economic Area (EEA); dominant tourism, fishing, and aluminum industries vulnerable to demand swings and disruption from volcanic activity; inflation remains above target rate; barriers to foreign business access and economic diversification

Real GDP (purchasing power parity)

Real GDP (purchasing power parity) 2024: $26.561 billion (2024 est.)
Real GDP (purchasing power parity) 2023: $26.424 billion (2023 est.)
Real GDP (purchasing power parity) 2022: $25.012 billion (2022 est.)

Real GDP growth rate

Real GDP growth rate 2024: 0.5% (2024 est.)
Real GDP growth rate 2023: 5.6% (2023 est.)
Real GDP growth rate 2022: 9% (2022 est.)

Real GDP per capita

Real GDP per capita 2024: $65,600 (2024 est.)
Real GDP per capita 2023: $67,200 (2023 est.)
Real GDP per capita 2022: $65,500 (2022 est.)

GDP (official exchange rate)

$33.463 billion (2024 est.)

Inflation rate (consumer prices)

Inflation rate (consumer prices) 2024: 5.9% (2024 est.)
Inflation rate (consumer prices) 2023: 8.7% (2023 est.)
Inflation rate (consumer prices) 2022: 8.3% (2022 est.)

GDP - composition, by sector of origin

agriculture: 4% (2024 est.)
industry: 19.4% (2024 est.)
services: 65.5% (2024 est.)

GDP - composition, by end use

household consumption

49.3% (2023 est.)

government consumption

25.3% (2023 est.)

investment in fixed capital

24.8% (2023 est.)

investment in inventories

0.7% (2023 est.)

exports of goods and services

43.4% (2023 est.)

imports of goods and services

-43.3% (2023 est.)

Agricultural products

milk, chicken, lamb/mutton, barley, potatoes, pork, beef, eggs, other meats, cucumbers/gherkins (2023)

Industries

tourism, fish processing; aluminum smelting; geothermal power, hydropower; medical/pharmaceutical products

Industrial production growth rate

-2.3% (2024 est.)

Labor force

248,400 (2024 est.)

Unemployment rate

Unemployment rate 2024: 3.2% (2024 est.)
Unemployment rate 2023: 3.6% (2023 est.)
Unemployment rate 2022: 3.8% (2022 est.)

Youth unemployment rate (ages 15-24)

total: 7.6% (2024 est.)
male: 8.3% (2024 est.)
female: 7% (2024 est.)

Population below poverty line

8.8% (2017 est.)

Gini Index coefficient - distribution of family income

Gini Index coefficient - distribution of family income 2018: 26.6 (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.7% (2018 est.)
highest 10%: 21.7% (2018 est.)

Remittances

Remittances 2024: 0.7% of GDP (2024 est.)
Remittances 2023: 0.7% of GDP (2023 est.)
Remittances 2022: 0.7% of GDP (2022 est.)

Budget

revenues: $10.023 billion (2023 est.)
expenditures: $10.364 billion (2023 est.)

Public debt

Public debt 2023: 80.7% of GDP (2023 est.)

Taxes and other revenues

23.3% (of GDP) (2023 est.)

Current account balance

Current account balance 2024: -$845.319 million (2024 est.)
Current account balance 2023: $290.603 million (2023 est.)
Current account balance 2022: -$698.165 million (2022 est.)

Exports

Exports 2024: $13.916 billion (2024 est.)
Exports 2023: $13.702 billion (2023 est.)
Exports 2022: $13.114 billion (2022 est.)

Exports - partners

Netherlands 27%, Germany 11%, USA 10%, UK 8%, Norway 6% (2023)

Exports - commodities

aluminum, fish, orthopedic appliances, animal meal, iron alloys (2023)

Imports

Imports 2024: $14.298 billion (2024 est.)
Imports 2023: $13.63 billion (2023 est.)
Imports 2022: $13.237 billion (2022 est.)

Imports - partners

Norway 11%, China 9%, Germany 9%, Netherlands 8%, USA 7% (2023)

Imports - commodities

refined petroleum, cars, carbon-based electronics, aluminum oxide, computers (2023)

Reserves of foreign exchange and gold

Reserves of foreign exchange and gold 2024: $6.403 billion (2024 est.)
Reserves of foreign exchange and gold 2023: $5.809 billion (2023 est.)
Reserves of foreign exchange and gold 2022: $5.887 billion (2022 est.)

Exchange rates

Currency

Icelandic kronur (ISK) per US dollar -

Exchange rates 2024

137.958 (2024 est.)

Exchange rates 2023

137.943 (2023 est.)

Exchange rates 2022

135.28 (2022 est.)

Exchange rates 2021

126.989 (2021 est.)

Exchange rates 2020

135.422 (2020 est.)

Energy5

Electricity access

electrification - total population: 100% (2022 est.)

Electricity

installed generating capacity: 3.005 million kW (2023 est.)
consumption: 19.584 billion kWh (2023 est.)
transmission/distribution losses: 543 million kWh (2023 est.)

Electricity generation sources

hydroelectricity: 70.1% of total installed capacity (2023 est.)
geothermal: 29.9% of total installed capacity (2023 est.)

Coal

consumption: 137,000 metric tons (2023 est.)
exports: 81 metric tons (2023 est.)
imports: 106,000 metric tons (2023 est.)

Petroleum

refined petroleum consumption: 19,000 bbl/day (2024 est.)

Communications6

Telephones - fixed lines

total subscriptions: 82,000 (2023 est.)
subscriptions per 100 inhabitants: 21 (2023 est.)

Telephones - mobile cellular

total subscriptions: 478,000 (2023 est.)
subscriptions per 100 inhabitants: 123 (2022 est.)

Broadcast media

state-owned public TV broadcaster (RUV) operates 21 TV channels nationally; every household is required to have RUV, which doubles as the emergency broadcast network; 3 privately owned TV stations; 100% of households have multi-channel services though digital and/or fiber-optic connections; RUV operates 3 national and 4 regional radio stations; 1 privately owned radio conglomerate, Syn (4 stations), broadcasts nationwide; over 20 regional radio stations (2019)

Internet country code

.is

Internet users

percent of population: 100% (2023 est.)

Broadband - fixed subscriptions

total: 145,000 (2023 est.)
subscriptions per 100 inhabitants: 37 (2023 est.)

Transportation5

Civil aircraft registration country code prefix

TF

Airports

82 (2025)

Heliports

1 (2025)

Merchant marine

total: 39 (2023)
by type: general cargo 5, oil tanker 2, other 32

Ports

total ports

43 (2024)

large

0

medium

2

small

2

very small

17

size unknown

22

ports with oil terminals

5

key ports

Grundartangi, Reykjavik, Seydhisfjordhur, Vestmannaeyjar

Military & Security2

Military and security forces

no regular military forces; the Icelandic National Police, the regional police forces, and the Icelandic Coast Guard fall under the purview of the Ministry of Justice (2025)

Military - note

Iceland was one of the original 12 countries to sign the North Atlantic Treaty (also known as the Washington Treaty) in 1949; Iceland is the only NATO member that has no standing military force; defense of Iceland is a NATO commitment, and NATO maintains an air policing presence in Icelandic airspace; Iceland participates in international peacekeeping missions with the civilian-manned Icelandic Crisis Response Unit (ICRU)

Iceland also cooperates with the militaries of other regional countries through the Nordic Defense Cooperation (Denmark, Finland, Iceland, Norway, and Sweden) and the Joint Expeditionary Force (Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, the Netherlands, Norway, Sweden and the UK); in 1951, Iceland and the US concluded an agreement to make arrangements regarding the defense of Iceland and for the use of facilities in Iceland to that end (2025)

Transnational Issues1

Refugees and internally displaced persons

refugees: 8,960 (2024 est.)
IDPs: 3,700 (2024 est.)
stateless persons: 31 (2024 est.)

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