Basic Facts About Iceland
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General |
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Official name |
Republic of Iceland |
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Capital |
Reykjavik (pronounced Rey-kia-vik) |
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Area |
102,775 Sq Km (slightly larger than Bihar) |
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Population (Oct 2022) |
385,230 |
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Population by main cities (Jan 2022) |
Reykjavik Capital Region - 247,590 Northeast: Akureyri - 19,642 Southwest: Keflavik – 20,416 West: Akranes – 7,841 South: Selfoss – 6,510 |
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Age profile (Jan 2022) |
Below 14 years: 69,803 15-64 years: 250,078 65 years and above: 56,367 Total: 376,248 |
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Life expectancy (2022) |
Average: 82.6 years (Male: 81.0; Female: 84.2) |
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Languages |
Icelandic (a Nordic Language). However, English is widely spoken. |
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Ethnic groups (2021) |
Icelandic 80.3%, Polish 5,5%, Lithuanian 0.9%, Filipino 0.6%, Romanian 0.05% |
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Religions |
Lutheran State Church (62%) & Free Church of Iceland and Roman Catholic (3.9%) Traditional Norse Religion (1.3%) |
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Currency (January 2023) |
Icelandic Krona (ISK) (1 USD = 144.27 ISK) |
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GDP |
US$ 25.6 Billion (2021) |
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GDP per capita (PPP) |
US $ 57,872 (2021) |
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GDP per capita |
US $ 68,727 (2021) |
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GDP Growth Rate |
6.2 % (2022); 1.8% (projected 2023) |
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Main exports/ sources |
Aluminum: 33 % of total Seafood : 23 % Tourism: 20 % |
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Household savings rate |
10.8 % |
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Inflation |
9.6 % (December 2022) |
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Unemployment |
4.6 % (November 2022) |
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Forest cover |
1906 sq. km. (Vegetation) - (1.9%) |
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Population per square Km |
3.6 (2020) |
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Tourist arrivals |
22,83,435 (2022) 6,78,802 (2021) |
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Internet penetration |
98% |
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Mobile phones |
120 (2020) (Per 100 inhabitants) |
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Total Exports to Iceland |
US $ 11.7 Million (2021-22) |
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Total Imports from Iceland |
US $ 5.7 Million (2021-22) |
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Main trade partners |
European Economic Area (EEA), USA |
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Political |
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Political structure |
Constitutional Republic with Multi-Party System |
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Major political parties |
Independence Party, Left-Green Movement, Progressive Party- Ruling coalition Social Democratic Alliance, Centre Party, Pirate Party, People's Party, Reform Party |
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Head of State (President) |
Mr. Gudni Thorlacius Jóhannesson (???? ????? ????????? ???????) Hon'ble President of the Republic of Iceland |
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Head of Government (PM) |
Ms. Katrín Jakobsdóttir (??????? ???????? ????????????????) Hon'ble Prime Minister of the Republic of Iceland |
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Bilateral |
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Bilateral Trade with Iceland |
US $ 17.4 Million (2021-22) (Source: DGCIS, GOI*) US $ 45.4 Million (2021-22) (Source: Statistics Iceland) |
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Indian Exports to Iceland |
US $ 11.7 Million (2021-22) (Source: DGCIS, GOI*) US $ 37.9 Million (2021-22) (Source: Statistics Iceland) |
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Indian Imports from Iceland |
US $ 5.7 Million (2021-22) (Source: DGCIS, GOI*) US $ 7.5 Million (2021-22) (Source: Statistics Iceland) |
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Iceland's main products of Export to India in 2022 |
Cold refined cod liver oil, fish body oil, Medical and scientific instruments, petroleum & petroleum products, Medicinal and pharmaceutical products Miscellaneous edible products, Electrical Machinery appliances, General industrial machinery & equipment, office machines and computers, organic chemicals, chem materials & products, textile yarn etc., telecom equipment etc. |
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Iceland's main products of Import from India in 2022 |
Petroleum, petroleum products, Apparel and clothing accessories, Textile yarn, Iron & Steel, Electrical machinery app. and appliances, Footwear, Medicinal and pharmaceutical prod., Fish, crustaceans, molluscs etc., Rubber manufactures, Organic chemicals, Manufactures of metals, Misc. manufactures articles, Machinery for part. industries, Travel goods, handbags, Gen. industrial machinery & equipment. Furniture, mattress, cushions etc. |
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Indian presence/ investments in Iceland |
Professionals in pharmaceuticals, IT and restaurants |
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Icelandic presence/investments in India |
Pharmaceuticals, Food Processing, IT, Prosthetics, Geo-thermal/ Services. |
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Indian Community |
444 (approx.) [122 NRIs/PIOs/OCI Card holders] |
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