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Fact Sheet

Flag of Iceland

Iceland

Official Title:
Republic of Iceland


General Information

Please note that all statistics reflect Canadian dollars, with some figures reflecting the yearly averages for the year. If listed as ’0’ or absent, the statistic is unavailable.
5-year trade
Canada - Iceland
Year Exports Imports
2009 $81,149,140 $32,283,166
2010 $105,282,408 $32,825,420
2011 $52,550,440 $42,015,351
2012 $50,082,049 $55,795,022
2013 $44,273,751 $44,513,378
Product trade (2013)
21 HS Chapters
Canada - Iceland
Chapter Exports Imports
01 Animal & Prod. $16,209,330 $23,689,326
02 Veg. Prod. $754,496 $56,544
03 Fats, Oils & Waxes Prod. $38,533 $1,247,080
04 Food Prod. $2,462,931 $1,132,051
05 Mineral Prod. $136,233 $4,984
06 Chemical Prod. $359,796 $2,463,690
07 Plastics, Rubber Prod. $577,442 $416,409
08 Leather, Fur Prod. $67,322 $13,865
09 Wood Prod. $2,058,334 $214
10 Paper Prod. $7,076,311 $31,706
11 Textiles Prod. $321,560 $396,495
12 Dress Access. $372,961 $82
13 Glass & Stone Prod. $365,820 $10,800
14 Precious Metals/stones $21,854 $128,392
15 Base Metal Prod. $3,840,723 $304,085
16 Mach. Mech. Elec. Prod. $4,173,299 $6,014,528
17 Vehicles and Equip. $458,454 $41,172
18 Specialized Inst. $3,565,248 $8,481,324
19 Arms & Ammunition $ $
20 Misc. Articles $696,770 $31,789
21 Antiques $ $48,463

Capital: Reykjavik
Population (million): 0.322
Total Area: 103,000km2
Currency: 1 CAN$ = 118.2 Krona (ISK)(2013)
National Holiday: June 17, Proclamation of the Republic (1944)
Language(s): Icelandic


Political Information

Type of State:
Republic

Type of Government:
Parliamentary democracy. Unicameral with a 63-seat Parliament (Althing). Prime Minister appointed by the President. Cabinet appointed by the Prime Minister and approved by Parliament. Administrative divisions: 23 counties and 14 independent towns. Governing coalition: Independence Party and Progressive Party.

Head of State:
President Ólafur Ragnar Grímsson

Head of Government:
Prime Minister Sigmundur Davíð Gunnlaugsson (FSF)

Ministers:
Foreign Affairs and External Trade: Gunnar Bragi Sveinssen (FSF)
Industries and Commerce: Ragnheiður Elín Árnadóttir (SSF)
Finance and Economic Affairs: Bjarni Benediktsson (SSF)

Main Political Parties:
Coalition: Independence Party (SSF) (19), Progressive Party (FSF) (19) Opposition parties: Social Democratic Alliance (SF) (9), Left-Green Movement (VG) (7), Bright Future (6), Pirate Party (3)

Elections:
President and Deputies: 4 year term; next: April 2016


Economic Information (2013)

Comparative figures
Type Iceland Canada
GDP: ($ billion) 15.09 1878.77
GDP per capita: ($) 46874.79 53518.54
GDP growth rate: (%) 2.87 2.01
Inflation: (%) 3.87 0.96
Unemployment: (%) 4.44 7.08

Trade and Investment (2013)

Canadian exports to country: $44,273,751
Canadian imports from country: $44,513,378
FDI in Canada: $ million
CDI in Iceland: $ million


Representation

Foreign Representation in Canada:
Ambassador-designate Sturla Sigurjónsson

Canadian Representation Abroad:
Ambassador Stewart Wheeler


August 2014
Sources include: Statistics Canada, IMF

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Date Modified:
2010-02-19