Data at glance of Iceland - average on period

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 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.

Environment

Area: 103,000 km2

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

Natural resources: fish, hydropower, geothermal power, diatomite

Ethnic characteristics

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

Languages: Icelandic, English, Polish, Nordic languages, German

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.)

Government

Capital: Reykjavik

Government type: unitary parliamentary republic

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 ministerelection/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 ministermost recent election date: 1 June 2024election 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

Legislative branch

Description: legislature name: Parliament (Althingi)legislative structure: unicameralnumber of seats: 63 (all directly elected)electoral system: proportional representationscope of elections: full renewalterm in office: 4 yearsmost recent election date: 11/30/2024parties 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