Canada-Iceland fact sheet
Iceland
Official Title:
Republic of Iceland
General Information
Capital: Reykjavik
Population (million): .37
Total Area: 103,000 km2
Currency: 1 CAN$ = 92.68 Krona (ISK) (2021- Annual average)
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 Guðni Th. Jóhannesson
Head of Government:
Prime Minister Katrín Jakobsdóttir (VG)
Ministers:
Foreign affairs and External Trade: Thórdís Kolbrún Reykfjörd Gylfadóttir (SSF)
Finance and Economic Affairs: Bjarni Benediktsson (SSF)
Minister of the Environment, Energy and Climate: Gudlaugur Thór Thórdarson (SSF)
Main Political Parties:
Coalition: Independence Party (SSF) 17 / Left-Green Movement (LG) 8 / Progressive Party (FSF) 13.
Opposition parties: Social Democratic Alliance (SF) 6 / Mid Party (M) 2 / Pirate Party (PF) 6 / Peoples Party (F) 6 / Reform Party (RP) 5.
Elections:
President and Deputies (4 year term). Last parliamentary in September 2021.
Economic Information (2021)
| Type | Iceland | Canada |
|---|---|---|
| GDP: ($ billion) | 32.42 | 2,517.75 |
| GDP per capita: ($) | 87,906.81 | 65,864.62 |
| GDP growth rate: (%) | 4.4 | 4.54 |
| Inflation: (%) | 4.46 | 3.4 |
| Unemployment: (%) | 6.02 | 7.43 |
Source: IMF (estimates)
Product Trade and Investment (2021)
Canadian exports to country: $ 90,309,113
Canadian imports from country: $ 113,766,987
FDI in Canada: -
CDI in the country: -
Source: Statistics Canada
Representation
Foreign Representation in Canada:
Ambassador Hlynur Gudjónsson
Canadian Representation Abroad:
Ambassador Jeannette Menzies
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 figure is unavailable.
| Year | Exports | Imports |
|---|---|---|
| 2017 | $ 79,227,445 | $ 97,429,942 |
| 2018 | $ 199,237,260 | $ 135,241,848 |
| 2019 | $ 76,850,233 | $ 150,379,472 |
| 2020 | $ 68,231,885 | $ 83,993,073 |
| 2021 | $ 90,309,113 | $ 113,766,987 |
| Section | Exports | Imports |
|---|---|---|
| 01 Animal & Prod. | $ 28,845,560 | $ 72,797,723 |
| 02 Veg. Prod. | $ 375,462 | $ 454,214 |
| 03 Fats, Oils & Waxes Prod. | $ 3,416 | $ 1,838,460 |
| 04 Food Prod. | $ 4,547,889 | $ 4,018,397 |
| 05 Mineral Prod. | $ 70,004 | $ 4,157 |
| 06 Chemical Prod. | $ 1,894,686 | $ 2,176,044 |
| 07 Plastics, Rubber Prod. | $ 553,342 | $ 601,877 |
| 08 Leather, Fur Prod. | $ 170,826 | $ 1,332 |
| 09 Wood Prod. | $ 3,020,244 | $ 1,055 |
| 10 Paper Prod. | $ 2,013,738 | $ 12,774 |
| 11 Textiles Prod. | $ 821,846 | $ 277,377 |
| 12 Dress Access. | $ 239,162 | $ 10,688 |
| 13 Glass & Stone Prod. | $ 878,124 | $ 1,412 |
| 14 Precious Metals/stones | $ 15,966 | $ 3,645 |
| 15 Base Metal Prod. | $ 19,800,716 | $ 7,714,110 |
| 16 Mach. Mech. Elec. Prod. | $ 5,636,882 | $ 12,578,868 |
| 17 Vehicles and Equip. | $ 13,605,794 | $ 2,080 |
| 18 Specialized Inst. | $ 6,187,080 | $ 10,719,956 |
| 19 Arms & Ammunition | $ 79,330 | - |
| 20 Misc. Articles | $ 254,232 | $ 107,168 |
| 21 Antiques | $ 7,664 | $ 19,792 |
December 2022
Sources include: Statistics Canada, IMF
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