Iceland

Broadband - fixed subscriptions

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

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.)

Agricultural products

milk, chicken, lamb/mutton, barley, potatoes, pork, beef, eggs, other meats, cucumbers/gherkins (2023) note: top ten agricultural products based on tonnage

Budget

revenues: $10.023 billion (2023 est.) expenditures: $10.364 billion (2023 est.) note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

Current account balance

-$845.319 million (2024 est.) $290.603 million (2023 est.) -$698.165 million (2022 est.) note: balance of payments - net trade and primary/secondary income in current dollars

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

Exchange rates

Icelandic kronur (ISK) per US dollar - 137.958 (2024 est.) 137.943 (2023 est.) 135.28 (2022 est.) 126.989 (2021 est.) 135.422 (2020 est.)

Exports

$13.916 billion (2024 est.) $13.702 billion (2023 est.) $13.114 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars

Exports - commodities

aluminum, fish, orthopedic appliances, animal meal, iron alloys (2023) note: top five export commodities based on value in dollars

Exports - partners

Netherlands 27%, Germany 11%, USA 10%, UK 8%, Norway 6% (2023) note: top five export partners based on percentage share of exports

GDP (official exchange rate)

$33.463 billion (2024 est.) note: data in current dollars at official exchange rate

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.) note: figures may not total 100% due to rounding or gaps in data collection

GDP - composition, by sector of origin

agriculture: 4% (2024 est.) industry: 19.4% (2024 est.) services: 65.5% (2024 est.) note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

Gini Index coefficient - distribution of family income

26.6 (2018 est.) note: index (0-100) of income distribution; higher values represent greater inequality

Household income or consumption by percentage share

lowest 10%: 3.7% (2018 est.) highest 10%: 21.7% (2018 est.) note: % share of income accruing to lowest and highest 10% of population

Imports

$14.298 billion (2024 est.) $13.63 billion (2023 est.) $13.237 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars

Imports - commodities

refined petroleum, cars, carbon-based electronics, aluminum oxide, computers (2023) note: top five import commodities based on value in dollars

Imports - partners

Norway 11%, China 9%, Germany 9%, Netherlands 8%, USA 7% (2023) note: top five import partners based on percentage share of imports

Industrial production growth rate

-2.3% (2024 est.) note: annual % change in industrial value added based on constant local currency

Industries

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

Inflation rate (consumer prices)

5.9% (2024 est.) 8.7% (2023 est.) 8.3% (2022 est.) note: annual % change based on consumer prices

Labor force

248,400 (2024 est.) note: number of people ages 15 or older who are employed or seeking work

Population below poverty line

8.8% (2017 est.) note: % of population with income below national poverty line

Public debt

80.7% of GDP (2023 est.) note: central government debt as a % of GDP

Real GDP (purchasing power parity)

$26.561 billion (2024 est.) $26.424 billion (2023 est.) $25.012 billion (2022 est.) note: data in 2021 dollars

Real GDP growth rate

0.5% (2024 est.) 5.6% (2023 est.) 9% (2022 est.) note: annual GDP % growth based on constant local currency

Real GDP per capita

$65,600 (2024 est.) $67,200 (2023 est.) $65,500 (2022 est.) note: data in 2021 dollars

Remittances

0.7% of GDP (2024 est.) 0.7% of GDP (2023 est.) 0.7% of GDP (2022 est.) note: personal transfers and compensation between resident and non-resident individuals/households/entities

Reserves of foreign exchange and gold

$6.403 billion (2024 est.) $5.809 billion (2023 est.) $5.887 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Taxes and other revenues

23.3% (of GDP) (2023 est.) note: central government tax revenue as a % of GDP

Unemployment rate

3.2% (2024 est.) 3.6% (2023 est.) 3.8% (2022 est.) note: % of labor force seeking employment

Youth unemployment rate (ages 15-24)

total: 7.6% (2024 est.) male: 8.3% (2024 est.) female: 7% (2024 est.) note: % of labor force ages 15-24 seeking employment

Coal

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

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

Electricity generation sources

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

Petroleum

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

Carbon dioxide emissions

3.101 million metric tonnes of CO2 (2023 est.) from coal and metallurgical coke: 376,000 metric tonnes of CO2 (2023 est.) from petroleum and other liquids: 2.725 million metric tonnes of CO2 (2023 est.)

Climate

temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers

Environmental issues

water pollution from fertilizer runoff

Geoparks

total global geoparks and regional networks: 2 global geoparks and regional networks: Katla; Reykjanes (2023)

International environmental agreements

party to: Air Pollution, Air Pollution-Persistent Organic Pollutants, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Climate Change-Paris Agreement, Comprehensive Nuclear Test Ban, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping-London Convention, Marine Dumping-London Protocol, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling signed, but not ratified: Air Pollution-Heavy Metals, Environmental Modification, Marine Life Conservation

Land use

agricultural land: 16.2% (2023 est.) arable land: 1.2% (2023 est.) permanent crops: 0% (2022 est.) permanent pasture: 15% (2023 est.) forest: 0.6% (2023 est.) other: 82.6% (2023 est.)

Particulate matter emissions

5.8 micrograms per cubic meter (2019 est.)

Total renewable water resources

170 billion cubic meters (2022 est.)

Total water withdrawal

municipal: 80 million cubic meters (2022 est.) industrial: 198 million cubic meters (2022 est.) agricultural: 300,000 cubic meters (2022 est.)

Urbanization

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

Waste and recycling

municipal solid waste generated annually: 225,300 tons (2024 est.) percent of municipal solid waste recycled: 55.5% (2022 est.)

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

Climate

temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers

Coastline

4,970 km

Elevation

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

Geographic coordinates

65 00 N, 18 00 W

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

Irrigated land

0.5 sq km (2022)

Land boundaries

total: 0 km

Land use

agricultural land: 16.2% (2023 est.) arable land: 1.2% (2023 est.) permanent crops: 0% (2022 est.) permanent pasture: 15% (2023 est.) forest: 0.6% (2023 est.) other: 82.6% (2023 est.)

Location

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

Map references

Arctic Region

Maritime claims

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

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

Natural resources

fish, hydropower, geothermal power, diatomite

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

Terrain

mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords

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

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

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

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

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 s (ice) and land (land)

Diplomatic representation from the US

chief of mission: Ambassador (vacant); Charg 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: ReykjavikConsular@state.gov https://is.usembassy.gov/

Diplomatic representation in the US

chief of mission: Ambassador Svanhildur H lm VALSD TTIR (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: washington@mfa.is https://www.government.is/diplomatic-missions/embassy-of-iceland-in-washington-d.c/

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

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

Government type

unitary parliamentary republic

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)

International law organization participation

has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction

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

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

Legal system

civil law system influenced by the Danish model

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

National anthem(s)

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

National coat of arms

Iceland s coat of arms is derived from a 13 th -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 color(s)

blue, white, red

National heritage

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

National holiday

Independence Day, 17 June (1944)

National symbol(s)

gyrfalcon

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

Suffrage

18 years of age; universal

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.

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)

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) note: the Icelandic Coast Guard is responsible for operational defense tasks in Iceland including but not limited to operation of Keflavik Air Base, special security zones, and the Icelandic air defense system; it also coordinates with NATO in such areas as air surveillance and military defense exercises

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)

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.)

Birth rate

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

Currently married women (ages 15-49)

48.5% (2023 est.)

Death rate

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

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.)

Drinking water source

urban: 100% of population (2022 est.) rural: 100% of population (2022 est.) total: 100% of population (2022 est.) urban: 0% of population (2022 est.) rural: 0% of population (2022 est.) total: 0% of population (2022 est.)

Education expenditure

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

Ethnic groups

Icelandic 78.7%, Polish 5.8%, Danish 1%, Ukrainian 1%, other 13.5% (2024 est.) note : data represent population by country of birth

Gross reproduction rate

0.94 (2025 est.)

Health expenditure

8.6% of GDP (2022) 16.5% of national budget (2022 est.)

Hospital bed density

2.8 beds/1,000 population (2020 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

Languages

Icelandic, English, Polish, Nordic languages, German

Life expectancy at birth

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

Major urban areas - population

216,000 REYKJAVIK (capital) (2018)

Maternal mortality ratio

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

Median age

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

Mother's mean age at first birth

28.7 years (2020 est.)

Nationality

noun: Icelander(s) adjective: Icelandic

Net migration rate

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

Obesity - adult prevalence rate

21.9% (2016)

Physician density

4.37 physicians/1,000 population (2023)

Population

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

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

Population growth rate

0.82% (2025 est.)

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.)

Sanitation facility access

urban: 100% of population (2022 est.) rural: 100% of population (2022 est.) total: 100% of population (2022 est.) urban: 0% of population (2022 est.) rural: 0% of population (2022 est.) total: 0% of population (2022 est.)

School life expectancy (primary to tertiary education)

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

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.)

Tobacco use

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

Total fertility rate

1.93 children born/woman (2025 est.)

Urbanization

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

Refugees and internally displaced persons

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

Airports

82 (2025)

Civil aircraft registration country code prefix

TF

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