Iceland
Republic of Iceland
Capital: Reykjavik
History
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 Althing, 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 Iceland was especially hard hit by the global financial crisis in the years following 2008. Literacy, longevity, and social cohesion are first rate by world standards.
Geography
Metric Units
Economy
Budget & Debt
Trade
| Exports |
$5.1 billion |
| Export Items |
fish and fish products 40%, aluminum, animal products, ferrosilicon, diatomite |
| Export Partners |
Netherlands 32.4%, Germany 15%, UK 9%, Norway 4.4% (2011) |
| Imports |
$4.7 billion |
| Import Items |
machinery and equipment, petroleum products, foodstuffs, textiles |
| Import Partners |
Norway 15.9%, US 10.8%, Germany 7.8%, Netherlands 7.3%, China 6.2%, Denmark 6.2%, Brazil 5.8%, UK 5.1% (2011) |
People
| Population |
315,281 |
| Population Growth |
0.66% |
| Ethnic Groups |
homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6% |
| Religion |
Lutheran Church of Iceland (official) 80.7%, Roman Catholic 2.5%, Reykjavik Free Church 2.4%, Hafnarfjorour Free Church 1.6%, other religions 3.6%, unaffiliated 3%, other or unspecified 6.2% (2006 est.) |
| Life Expectancy |
81.11 years |
| Infant Mortality |
1 deaths/1,000 live births |
| Maternal Mortality |
1.5 deaths/100,000 live births |
Energy
