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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 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. Limited home rule from Denmark was granted in 1874 and complete independence attained in 1944. Literacy, longevity, income, and social cohesion are first-rate by world standards.
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Common Name: Iceland
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Local Official Name: Island
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Abbreviated Name: Republic of Iceland
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Official Name: Lydhveldidh Island
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Official Script Name: Iceland
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Local Common Name: Iceland
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Former Name: Iceland
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Territory of: NA
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Head of State: President Olafur Ragnar GRIMSSON
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Government Type: constitutional republic
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Independence: 1944 June 17 (from Denmark)
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Constitution: 1944 June 16, effective 1944 June 17
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National Holiday: Independence Day, 17 June
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International Organization Participation: Arctic Council, Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IPU, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO
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Administrative Divisions: 8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland
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Dependent Areas: NA
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Legal System: civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction
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Suffrage: 18 years
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Executive, Legislative and Judicial Branches: Executive Branch:
chief of state: President Olafur Ragnar GRIMSSON (since 1 August 1996)
head of government: Prime Minister Geir H. HAARDE (since 7 June 2006)
cabinet: Cabinet appointed by the prime minister
elections: president, largely a ceremonial post, is elected by popular vote for a four-year term (no term limits); election last held 26 June 2004 (next to be held June 2008); following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister
election results: Olafur Ragnar GRIMSSON 85.6%, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%
Legislative Branch:
unicameral Parliament or Althing (63 seats; members are elected by popular vote to serve four-year terms)
elections: last held 10 May 2003 (next to be held by May 2007)
election results: percent of vote by party - Independence Party 33.7%, Social Democratic Alliance 31%, Progressive Party 17.7%, Left-Green Movement 8.8%, Liberal Party 7.4%; seats by party - Independence Party 22, Social Democratic Alliance 20, Progressive Party 12, Left-Green Alliance 5, Liberal Party 4
Judicial Branch:
Supreme Court or Haestirettur (justices are appointed for life by the Minister of Justice); eight district courts (justices are appointed for life by the Minister of Justice)
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Party Leaders: Independence Party or IP [Geir HAARDE]; Left-Green Movement or LGM [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON - will step down in August 2006]; Social Democratic Alliance (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List) or SDA [Ingibjorg Solrun GISLADOTTIR]
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International Disputes: Iceland disputes Denmark's alignment of the Faroe Islands' fisheries median line; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
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Illicit Drugs: NA
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Location of Iceland: Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the UK
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Continent: Europe
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Land Area Total: 103,000 sq km
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Region: Scandanavian |
Land Area Land: 100,250 sq km
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Capitol City: Reykjavik
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Land Area Water: 2,750 sq km
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Current: +0
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Latitude: 065 00 N
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Border Boundary Land: 0 km
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Longitude: 018 00 W
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Border Boundary Coastline: 4,970 km
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Arable Land: 0.07 %
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Pastures: 0.00 %
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Crops: 0.00 %
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Woodlands and Forests: 0.00
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Highest Elevation: 2,110 m
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Location: Hvannadalshnukur
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Lowest Elevation: 0 m
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Location: Atlantic Ocean
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Largest City in Iceland: Reykjavík
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Reykjavík Largest City Population: 0
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Threatened Species: 15
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Environmental Issues: water pollution from fertilizer runoff; inadequate wastewater treatment
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Environmental Agreements: party to: Air Pollution, Air Pollution-Persistent Organic Pollutants, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Kyoto Protocol, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Transboundary Air Pollution, Wetlands
signed, but not ratified: Environmental Modification, Marine Life Conservation
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Irrigated Land: 0
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Bordering Countries: NA
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Natural Resources: fish, hydropower, geothermal power, diatomite
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Geographical Terrain: mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords
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Comparative Area of Iceland: slightly smaller than Kentucky
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Iceland's Geography: 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
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Click Here for detailed information about the weather conditions in Iceland.
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General Climate: temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers
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Natural Hazards: earthquakes and volcanic activity
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Economic Overview: Iceland's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system (including generous housing subsidies), low unemployment, and remarkably even distribution of income. In the absence of other natural resources (except for abundant geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs 4% of the work force. The economy remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Government policies include reducing the current account deficit, limiting foreign borrowing, containing inflation, revising agricultural and fishing policies, and diversifying the economy. The government remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their fishing resources. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, and new developments in software production, biotechnology, and financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism and whale watching. Growth had been remarkably steady in 1996-2001 at 3%-5%, but could not be sustained in 2002 in an environment of global recession. Growth resumed in 2003, and estimates call for strong growth until 2007, slowly dropping until the end of the decade.
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GDP: $10,590,000,000 USD
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Currency: Icelandic krona
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GDP per Capita: $35,700 USD
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Currency Code: ISK
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GDP Growth Rate: 5.60 %
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One $USD Equals: %fincurrencyequals% ISK
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Currency Exchange Rate History: Icelandic kronur per US dollar - 62.982 (2005), 70.192 (2004), 76.709 (2003), 91.662 (2002), 97.425 (2001)
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GDP of Agriculture: 8.60 %
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GDP of Industry: 15.00 %
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GDP of Services: 76.50 % |
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Inflation Rate: 4.00 % |
Population in Poverty: 0.00 %
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Unemployment Rate: 2.10 %
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Tourism: 263,000.00 visitors each year
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Consumption by lowest 10%: 0.00 %
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Budget Revenue in USD: $6,995,000,000 USD
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Consumption by upper 10%: 0.00 %
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Budget Expenditures in USD: $6,761,000,000 USD
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Electricity Production: 8,619,000,000 kWh
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Electricity Exports: 0 kWh
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Electricity Consumption: 8,619,000,000 kWh
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Electricity Imports: 0 kWh
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Electricity Production by Source:
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Fossil Fuel Electricity Production: 0.05%
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Nuclear Electricity Production: 0.00%
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Hydro Electricity Production: 83.30%
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Other Electricity Production: 16.65%
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Oil Production: 0 barrels per day
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Natural Gas Production: 0 cu m
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Oil Consumption: 17,280 barrels per day
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Natural Gas Consumption: 0 cu m
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Oil Exports: 0 barrels per day
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Natural Gas Exports: 0 cu m
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Oil Imports: 15,470 barrels per day
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Natural Gas Imports: 0 cu m
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Proven Oil Reserves: 0 barrels
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Proven Natural Gas Reserves: 0 cu m
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External Debt: $3,073,000,000 USD |
Received in economic aid: $0 USD
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Donated in economic aid: $6,700,000 USD
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Agricultural Products: potatoes, green vegetables; mutton, dairy products; fish
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Primary Industries: fish processing; aluminum smelting, ferrosilicon production; geothermal power, tourism
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Industrial Growth Rate: 14.20 %
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Import Amount in USD: $4,582,000,000 USD - machinery and equipment, petroleum products, foodstuffs, textiles
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Import Partners: Germany 13.4%, US 9.1%, Sweden 8.6%, Denmark 7.3%, Norway 7.2%, UK 5.9%, China 5.3%, Netherlands 5%, Japan 4.7%
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Export Amount in USD: $3,215,000,000 USD - fish and fish products 70%, aluminum, animal products, ferrosilicon, diatomite
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Export Partners: UK 17.9%, Germany 16.4%, Netherlands 13%, US 8.1%, Spain 7.7%, Denmark 4.3%
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GINI Index: 0.00%
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Labor Force Number of People: 165,900
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Labor Force by Occupations: agriculture: 10.3%, industry: 18.3%, services: 71.4%
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Radio Broadcast Stations: 74 |
Number of People with Radios: 260,000 |
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Television Broadcast Stations: 14 |
Number of People with Televisions: 98,000 |
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Number of People with Mainline Telephones: 193,900 |
Number of People with Mobile Phones: 304,000 |
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Internet Service Providers: 190,140 |
Internet Users: 258,000 |
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Internet Country Code: .is |
Newspapers: 336 |
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Two Letter Country Code: IC |
Weights and Measures: |
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Phone Country Code: 354 |
Electricity Voltage: 220 Volts |
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Telephone Systems: general assessment: extensive domestic service
domestic: the trunk network consists of coaxial and fiber-optic cables and microwave radio relay links
international: country code - 354; satellite earth stations - 2 Intelsat (Atlantic Ocean), 1 Inmarsat (Atlantic and Indian Ocean regions); note - Iceland shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Norway, and Sweden)
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Highways: 4,241 km |
Railways: 0 km
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Gas And Oil Pipelines: 0 km |
Waterways: 0 km
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Airports: 5 |
Heliports: 0
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Motor Vehicles: 612 per 1,000 people |
CO2 Emissions: 2,282,000 Metric Tons of CO2 per year |
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Per capita CO2 emissions: 7.70 Metric Tons of CO2 per year |
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Merchant Marines: total: 1 ship (1000 GRT or over) 3,354 GRT/480 DWT
by type: passenger/cargo 1
registered in other countries: 34 (Antigua and Barbuda 8, Bahamas 1, Belize 2, Faroe Islands 4, Gibraltar 1, Malta 4, Norway 4, Saint Vincent and the Grenadines 10)
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Ports and Harbors: Grundartangi, Hafnarfjordur, Hornafjordhur, Reykjavik, Seydhisfjordhur
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Population: 299,388 people type - nationality |
Birth Rate: 13.64 births per 1,000 people |
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Population Density: 3.00 people per sq km |
Death Rate: 6.72 deaths per 1,000 people |
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Population Growth: 0.87% per year |
Fertility Rate per Women: 1.92 babies born per woman |
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Population Male 0-14: 33,021 |
Population Female 0-14: 32,021 |
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Population Male 15-64: 100,944 |
Population Female 15-64: 98,239 |
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Population Male 65+: 15,876 |
Population Female 65+: 19,287 |
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Population 0-14: 21.70% |
Literacy Rate: 99.00% |
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Population 15-64: 66.50% |
Literacy rate of Males: 99.00% |
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Population 65+: 11.70% |
Literacy rate of Females: 99.00% |
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Population that is Male: 50.00
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Population that is Female: 50.00% |
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Life expectancy at birth in years: 80.31 years |
Infant mortality rate - baby deaths per 1000 births: 3.29 Babies die per 1,000 births |
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Life expectancy at birth for Males: 78.23 years |
Life expectancy at birth for Females: 82.48 years |
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Rate of AIDS/HIV infection: 0.20%
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Number of people living with AIDS or HIV: 220
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Number of people who died of AIDS: 0 |
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Disease Risk:
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Diseases:
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Net Migration Rate per 1,000 people: 1.40
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Nationality: ICELANDIC
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Ethnic Groups: homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%
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Primary Language: Icelandic
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Other Languages: Icelandic, English, Nordic languages, German widely spoken
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Primary Religion: Evangelical Lutheran
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Other Religions: Lutheran Church of Iceland 85.5%, Reykjavik Free Church 2.1%, Roman Catholic Church 2%, Hafnarfjorour Free Church 1.5%, other Christian 2.7%, other or unspecified 3.8%, unaffiliated 2.4%
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Branches: no regular armed forces; Icelandic National Police, Icelandic Coast Guard (Islenska Landhelgisgaeslan) subordinate to Ministry of Justice, Icelandic Crisis Response Unit
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Manpower Fit to Serve: NA years
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Manpower Available: 69,038 People
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Manpower Fit to Serve: 56,777 People
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Amount of Manpower Available each Year: 0 People per year
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Expenditures: $0 USD per year
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Expenditures as a Percentage of GDP: 0.00
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Note: Phrasebase uses a variety of sources when compiling the facts and information presented above. This information is continually updated throughout the year.
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Iceland Spa and Resort Directory
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