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Basic Facts about Iceland

Iceland – Fact Sheet

General
Official nameRepublic of Iceland
CapitalReykjavik
Area103,000 Sq Km
(a little larger than West Bengal and Sikkim together)
Population3,48,450
Age profile (2018 est.)0-14 years: 67,407
15-24 years: 47,646
25-54 years: 1,43,531
55 years and over: 89,866
Total: 3,48,450
Life expectancy (2016 est.)Average: 82.5 years;
Male: 81 years
Female; 84 years
LanguagesIcelandic (A Nordic Language). However, English is widely spoken.
Ethnic groups (2018 est.)Icelandic 93%, Polish 3.14%, Lithuania 0.51%, China 0.07%, India 0.03%
ReligionsEvangelical Lutheran (77%) & Catholic (18%) Church of Iceland
CurrencyIcelandic Krona (ISK)
GDPUS $ 23 Billion (2017)
GDP per capitaUS $ 60.498 Billion (2016)
GDP Growth Rate3.6 % (2018)
Unemployment3% (2016)
Forest cover23,805 sq. km. (Vegetation)
CO2 emissions per capita11.82 metric tons (2016)
Tourist arrivals17,92,200 (2017)
Internet penetration100%
Mobile phones86.7 % (2016)
Urbanization94.23 % (2016)
World Exports from IcelandUS $ 4453 Million (2016)
World Imports into IcelandUS $ 5700 Million (2016)
Main trade partners (2017)European Economic Area (EEA), USA
Political
Political structureConstitutional Republic with Multi-Party System
Major political partiesIndependence Party, Left-Green Movement, Progressive Party, Social Democratic Alliance, Centre Party, Pirate Party,
People's Party, Reform Party
Head of State (President)Mr. Guðni Th. Jóhannesson, Hon'ble President of Iceland
Head of Government (PM)Ms. Katrín Jakobsdóttir, Hon'ble Prime Minister of Iceland
Bilateral
Bilateral Trade with IcelandUS $ 21.40 Million (2017)
Indian Exports to IcelandUS $ 16.72 Million (2017)
Indian Imports from IcelandUS $ 4.68 Million (2017)
Iceland's main products of Export to India in 2017Fish products, Aluminum, animal products, ferrosilicon, medicine.
Iceland's main products of Import from India in 2017Fruit, Rubber, Carpets, Aluminum, Organic Chemicals, Apparels & Accessories, Textile, Yarn, etc. Cereals and Cereal production, Plastic Products, Leather Articles.
Indian investments in Iceland------------------
Iceland investments in IndiaMedicine, Geothermal, Software
Indian Community333 (approx.) persons of Indian origin, including PIO/OCI card holders.

Geography

Location : European island in the North Atlantic (3 hours’ flight from London, 5 ½ hours from New York).
Capital : Reykjavik (population 222,590 approx.)

Total area : 103,000 km² (39,756 square.miles);

vegetation: 23.1%, lakes: 2.7%, glaciers: 11.6%, wasteland: 62.6%.

Sea area within fishing limits: 758,000 km². Coastline : 4,970 km.

People

Population :348,580 (2017)
Ethnic groups: Homogenous mixture of descendants of the original Nordic and Celtic settlers.
Religion: State Lutheran Church 84%.

Government

Type : Republic since 17 June 1944. Independent since 1 December 1918.
President: Mr. Gudni Th Jóhannesson (since 1 August 2016 )
Prime Minister: Ms. Katrín Jakobsdóttir (since 30 Nov. 2017 ). The cabinet is responsible to the legislature (Althingi).

Economy

Currency : Icelandic króna (ISK) (Rate of exchange – See Central Bank exchange rates).
GDP:US$ 20.05 Billion (2016)
GDP per capita: US$ 60.498 Billion (2016)
Labour Force: 197,700 (November 2017)
Unemployment rate: 1.7% (November 2017)

Employment by industry (approx):Agriculture: 3.9%. Industry: 17.76%. Services: 78.34%.