About Us Basic Facts About Iceland

General

Official name

Republic of Iceland

Capital

Reykjavik (pronounced Rey-kia-vik)

Area

102,775 Sq Km

(slightly larger than Bihar)

Population (Oct 2022)

385,230

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

Age profile (Jan 2022)

Below 14 years: 69,803

15-64 years: 250,078

65 years and above: 56,367

Total: 376,248

Life expectancy (2022)

Average: 82.6 years (Male: 81.0; Female: 84.2)

Languages

Icelandic (a Nordic Language).

However, English is widely spoken.

Ethnic groups (2021)

Icelandic 80.3%, Polish 5,5%, Lithuanian 0.9%, Filipino 0.6%, Romanian 0.05%

Religions

Lutheran State Church (62%) & Free Church of Iceland and Roman Catholic (3.9%) Traditional Norse Religion (1.3%)

Currency (January 2023)

Icelandic Krona (ISK) (1 USD = 144.27 ISK)

GDP

US$ 25.6 Billion (2021)

GDP per capita (PPP)

US $ 57,872 (2021)

GDP per capita

US $ 68,727 (2021)

GDP Growth Rate

6.2 % (2022); 1.8% (projected 2023)

Main exports/ sources

Aluminum: 33 % of total

Seafood : 23 %

Tourism: 20 %

Household savings rate

10.8 %

Inflation

9.6 % (December 2022)

Unemployment

4.6 % (November 2022)

Forest cover

1906 sq. km. (Vegetation) - (1.9%)

Population per square Km

3.6 (2020)

Tourist arrivals

22,83,435 (2022)

6,78,802 (2021)

Internet penetration

98%

Mobile phones

120 (2020) (Per 100 inhabitants)

Total Exports to Iceland

US $ 11.7 Million (2021-22)

Total Imports from Iceland

US $ 5.7 Million (2021-22)

Main trade partners

European Economic Area (EEA), USA

Political

Political structure

Constitutional Republic with Multi-Party System

Major political parties

Independence Party, Left-Green Movement, Progressive Party- Ruling coalition

Social Democratic Alliance, Centre Party, Pirate Party, People's Party, Reform Party

Head of State (President)

Mr. Gudni Thorlacius Jhannesson

(???? ????? ????????? ???????)

Hon'ble President of the Republic of Iceland

Head of Government (PM)

Ms. Katrn Jakobsdttir (??????? ???????? ????????????????)

Hon'ble Prime Minister of the Republic of Iceland

Bilateral

Bilateral Trade with Iceland

US $ 17.4 Million (2021-22) (Source: DGCIS, GOI*)

US $ 45.4 Million (2021-22) (Source: Statistics Iceland)

Indian Exports to Iceland

US $ 11.7 Million (2021-22) (Source: DGCIS, GOI*)

US $ 37.9 Million (2021-22) (Source: Statistics Iceland)

Indian Imports from Iceland

US $ 5.7 Million (2021-22) (Source: DGCIS, GOI*)

US $ 7.5 Million (2021-22) (Source: Statistics Iceland)

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.

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.

Indian presence/ investments in Iceland

Professionals in pharmaceuticals, IT and restaurants

Icelandic presence/investments in India

Pharmaceuticals, Food Processing, IT, Prosthetics, Geo-thermal/ Services.

Indian Community

444 (approx.) [122 NRIs/PIOs/OCI Card holders]