Iceland

Government
Name	Iceland
Icelandic	Ísland
Government type	Unitary parliamentary republic
Capital	Reykjavík (128,793)
Currency	Icelandic króna (ISK)
People
Population (2020)	341,250 (179th)
Density of population	3.5 P/km² (190th)
Nationality	Icelandic
Official languages
Icelandic
Ethnic groups (2018)
Homogeneous mixture of descendants of Norse and Celts	81%
Population with foreign background (immigrants and persons having at least one parent born abroad)	19%
Religions (2018)
Evangelical Lutheran Church of Iceland (official)	67.2%
Roman Catholic	3.9%
Reykjavik Free Church	2.8%
Hafnarfjordur Free Church	2%
Asatru Association	1.2%
The Independent Congregation	0.9%
Other religions	4%
None	6.7%
Other or unspecified	11.3%
Life expectancy (2020)
Male	81 years
Female	85.6 years
Total population	83.3 years (7th)
Homicides
Total (2018)	0.9 per 100,000 people (146th)
Geography
Land area	100,250 km²
water area	2,750 km²
total area	103,000 km² (109th)
Mean elevation	557 m
Lowest point
Atlantic Ocean	0 m
Highest point
Hvannadalshnukur (at Vatnajokull Glacier)	2,110 m
Land use (2011)
Agricultural land	18.7%
Arable land	1.2%
Permanent crops	0%
Permanent pasture	17.5%
Forest	0.3%
Other	81%
Urbanization
Urban population (2020)	93.9%
Rate of urbanization	0.81% annual rate of change (2015 – 2020)
Economy
Labor force (2017)	198,700 (172nd)
Labor force by occupation (2008)
Agriculture	4.8%
Industry	22.2%
Services	73%
Unemployment rate (2017)	2.8% (30th)
GDP (PPP) (estimate 2018)
Total	$19 billion (142nd)
Per capita	$54,753(16th)
GDP (nominal) (estimate 2018)
Total	$27 billion
Per capita	$75,700 (5th)
GDP by sector (estimate 2017)
Agriculture	5.8%
Industry	19.7%
Services	74.6%
Exports (2017)	$4.957 billion (108th)
Exports partners (2017)
Netherlands	25.5%
Spain	13.6%
UK	9.4%
Germany	7.6%
US	7%
France	6.3%
Norway	4.9%
Imports (2017)	$6.525 billion (118th)
Imports partners (2017)
Germany	10.7%
Norway	9.2%
China	7%
Netherlands	6.7%
US	6.4%
Denmark	6.2%
UK	5.7%
Sweden	4.1%

Iceland on the world map

Iceland top 10 largest cities

Reykjavík (128,793)
Kópavogur (36,975)
Hafnarfjörður (29,799)
Reykjanesbær (18,920)
Akureyri (18,925)
Garðabær (16,299)
Mosfellsbær (11,463)
Árborg (9,485)
Akranes (7,411)
Fjarðabyggð (5,070)

Demography

Population pyramid

Age structure data

Estimate for 2020:

0-14 years: 20.31% (male 36,394/female 34,837)
15-24 years: 12.85% (male 22,748/female 22,317)
25-54 years: 39.44% (male 70,227/female 68,095)
55-64 years: 11.94% (male 20,762/female 21,111)
65 years and over: 15.47% (male 25,546/female 28,697)

Remark: the age structure of a population affects a nation’s key socioeconomic issues. Countries with young populations (high percentage under age 15) need to invest more in schools, while countries with older populations (high percentage ages 65 and over) need to invest more in the health sector. The age structure can also be used to help predict potential political issues. For example, the rapid growth of a young adult population unable to find employment can lead to unrest.

Population from 1950 to 2020

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Source: United Nations, Department of Economic and Social Affairs, Population Division (2019). World Population Prospects 2019, Online Edition. Rev. 1.

Evolution of the life expectancy from 1960 to 2018

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Source: World Development Indicators, The World Bank

Economy

Agriculture:

potatoes, carrots, green vegetables, tomatoes, cucumbers, mutton, chicken, pork, beef, dairy products; fish

Industries:

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

Exports – commodities (2015):

fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon