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Government of Iceland

Country name:conventional long form: Republic of Iceland
conventional short form: Iceland
local long form: Lydveldid Island
local short form: Island
Government type:constitutional republic
Capital:name: Reykjavik
geographic coordinates: 64 09 N, 21 57 W
time difference: UTC (5 hours ahead of Washington, DC during Standard Time)
Administrative divisions:8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland
Independence:1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark)
National holiday:Independence Day, 17 June (1944)
Constitution:16 June 1944, effective 17 June 1944; amended many times
Legal system:civil law system based on Danish law; has not accepted compulsory ICJ jurisdiction
Suffrage:18 years of age; universal
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 in 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 12 May 2007 (next to be held by May 2011)
election results: percent of vote by party - Independence Party 36.6%, Social Democratic Alliance 26.8%, Progressive Party 11.7%, Left-Green Movement 14.3%, Liberal Party 7.3%, other 3.3%; seats by party - Independence Party 25, Social Democratic Alliance 18, Progressive Party 7, Left-Green Alliance 9, 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)
Political parties and leaders:Independence Party or IP [Geir H. HAARDE]; Left-Green Movement or LGM [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon KRISTJANSSON]; Progressive Party or PP [Jon SIGURDSSON]; Social Democratic Alliance or SDA [Ingibjorg Solrun GISLADOTTIR] (includes People's Alliance or PA, Social Democratic Party or SDP, Women's List)
Political pressure groups and leaders:NA
International organization participation:Arctic Council, Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, ITUC, MIGA, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:chief of mission: Ambassador Albert JONSSON
chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704
telephone: [1] (202) 265-6653
FAX: [1] (202) 265-6656
consulate(s) general: New York
Diplomatic representation from the US:chief of mission: Ambassador Carol VAN VOORST
embassy: Laufasvegur 21, 101 Reykjavik
mailing address: US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640
telephone: [354] 562-9100
FAX: [354] 562-9118
Flag description:blue with a red cross outlined in white extending to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)

Iceland Quickstats

  • Population: 301,931 (July 2007 est.)
  • Area: 103,000 sq km
  • Density: 2.9 /km² (222nd)
  • GDP (total): $11.38 billion (135th)
  • GDP (per capita): $35,586 (2005) (5th)
  • Literacy: 99%

Languages of Iceland

Useful to know

  • Currency: Icelandic króna (ISK)
  • Dial code: +354

International Trade

External sites

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Iceland Internet

  • Usage: 225,600
  • Penetration: 76.5 %
  • Top Domain: .ic

WT eBusiness info:

  • Success Ranking: 100
  • Market testing: Untested
  • Overall risk: High
  • Overall reward: Low

e-maturity:

  • Tourism: 10%
  • eCommerce: 10%
  • Gaming: 10%
  • eLearning: 10%

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