The 2003 CIA World Factbook. United States. Central Intelligence Agency
Akranes*, Akureyri*,
Arnessysla, Austur-Bardhastrandarsysla, Austur-Hunavatnssysla,
Austur-Skaftafellssysla, Borgarfjardharsysla, Dalasysla,
Eyjafjardharsysla, Gullbringusysla, Hafnarfjordhur*, Husavik*,
Isafjordhur*, Keflavik*, Kjosarsysla, Kopavogur*, Myrasysla,
Neskaupstadhur*, Nordhur-Isafjardharsysla, Nordhur-Mulasys-la,
Nordhur-Thingeyjarsysla, Olafsfjordhur*, Rangarvallasysla,
Reykjavik*, Saudharkrokur*, Seydhisfjordhur*, Siglufjordhur*,
Skagafjardharsysla, Snaefellsnes-og Hnappadalssysla, Strandasysla,
Sudhur-Mulasysla, Sudhur-Thingeyjarsysla, Vesttmannaeyjar*,
Vestur-Bardhastrandarsysla, Vestur-Hunavatnssysla,
Vestur-Isafjardharsysla, Vestur-Skaftafellssysla
note: there may be four other counties
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
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 David ODDSSON (since 30 April
1991)
cabinet: Cabinet appointed by the prime minister and approved by
Parliament
election results: Olafur Ragnar GRIMSSON ran unopposed in 2000 and
was reelected
elections: president, which is largely a ceremonial post, elected by
popular vote for a four-year term; election last held 29 June 1996
(next to be held NA June 2004); President GRIMSSON ran unopposed in
June 2000 so there were no elections; prime minister appointed by
the president
Legislative branch:
unicameral Parliament or Althing (63 seats; members are elected by
popular vote to serve four-year terms)
election results: percent of vote by party - Independence Party
33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%,
Left-Green Alliance 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
elections: last held 10 May 2003 (next to be held by May 2007)
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 [David ODDSSON]; Left-Green Alliance or
LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon
KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social
Democratic Alliance (includes People's Alliance or PA, Social
Democratic Party or SDP, Women's List)or SDA [Ossur SKARPHEDINSSON];
Social Democratic Party or SDP [Sighvatur BJORGVINSSON]; Women's
List or WL [Kristin ASTGEIRSDOTTIR]
Political pressure groups and leaders:
NA
International organization participation:
Australia Group, BIS, CBSS, CE, EAPC, EBRD, ECE, EFTA, FAO, IAEA,
IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IEA (observer), IFAD, IFC,
IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, NATO, NC, NEA,
NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNMIBH, UNMIK, UNU,
UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTrO
Diplomatic representation in the US:
chief of mission: Ambassador Helgi AGUSTSSON
chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005–1704
consulate(s) general: New York
FAX: [1] (202) 265–6656
telephone: [1] (202) 265–6653
Diplomatic representation from the US:
chief of mission: Ambassador James I. GADSDEN
embassy: Laufasvegur 21, 101 Reykjavik
mailing address: US Embassy, PSC 1003, Box 40, FPO AE 09728–0340
telephone: [354] 5629100
FAX: [354] 5629118
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)
Economy Iceland
Economy - 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 hydrothermal and geothermal power), the economy depends
heavily on the fishing industry, which provides 70% of export
earnings and employs 12% 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 budget
and current account deficits, limiting foreign borrowing, containing
inflation, revising agricultural and fishing policies, diversifying
the economy, and privatizing state-owned industries. 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.