Iceland
- Abstract
- Summary
- Comparative Statistical Analysis
- Strengths and Weakness
- Instruments ratifications
- Historical Data
- Download
Wikipedia Country Information
Iceland (Icelandic: Ísland; [ˈi:slant] (listen)) is a Nordic island country in the North Atlantic Ocean, with a population of 356,991 and an area of 103,000 km2 (40,000 sq mi), making it the most sparsely populated country in Europe. The capital and largest city is Reykjavík. Reykjavík and the surrounding areas in the southwest of the country are home to over two-thirds of the population. Iceland is volcanically and geologically active. The interior consists of a plateau characterised by sand and lava fields, mountains, and glaciers, and many glacial rivers flow to the sea through the lowlands. Iceland is warmed by the Gulf Stream and has a temperate climate, despite a high latitude just outside the Arctic Circle. Its high latitude and marine influence keep summers chilly, with most of its islands having a polar climate.
According to the ancient manuscript Landnámabók, the settlement of Iceland began in 874 AD when the Norwegian chieftain Ingólfr Arnarson became the first permanent settler on the island. In the following centuries, Norwegians, and to a lesser extent other Scandinavians, emigrated to Iceland, bringing with them thralls (i.e., slaves or serfs) of Gaelic origin.
The island was governed as an independent commonwealth under the Althing, one of the world's oldest functioning legislative assemblies. Following a period of civil strife, Iceland acceded to Norwegian rule in the 13th century. The establishment of the Kalmar Union in 1397 united the kingdoms of Norway, Denmark, and Sweden. Iceland thus followed Norway's integration into that union, coming under Danish rule after Sweden's secession from the union in 1523. Although the Danish kingdom introduced Lutheranism forcefully in 1550, Iceland remained a distant semi-colonial territory in which Danish institutions and infrastructures were conspicuous by their absence.In the wake of the French Revolution and the Napoleonic Wars, Iceland's struggle for independence took form and culminated in independence in 1918 and the founding of a republic in 1944. Although its parliament (Althing) was suspended from 1799 to 1845, the island republic has been credited with sustaining the world's oldest and longest-running parliament.
Until the 20th century, Iceland relied largely on subsistence fishing and agriculture. Industrialisation of the fisheries and Marshall Plan aid following World War II brought prosperity, and Iceland became one of the wealthiest and most developed nations in the world. It became a part of the European Economic Area in 1994; this further diversified the economy into sectors such as finance, biotechnology, and manufacturing.
Iceland has a market economy with relatively low taxes, compared to other OECD countries, as well as the highest trade union membership in the world. It maintains a Nordic social welfare system that provides universal health care and tertiary education for its citizens. Iceland ranks high in economic, democratic, and social stability, as well as equality, ranking third in the world by median wealth per adult. In 2020, it was ranked as the fourth-most developed country in the world by the United Nations' Human Development Index, and it ranks first on the Global Peace Index. Iceland runs almost completely on renewable energy.
Icelandic culture is founded upon the nation's Scandinavian heritage. Most Icelanders are descendants of Norse and Gaelic settlers. Icelandic, a North Germanic language, is descended from Old West Norse and is closely related to Faroese. The country's cultural heritage includes traditional Icelandic cuisine, Icelandic literature, and medieval sagas. Iceland has the smallest population of any NATO member and is the only one with no standing army, with a lightly armed coast guard.
Instruments ratified: | 124 / 282 |
---|---|
World Average Ratifications: | 114 / 282 |
Ratification rate: | 44.99% |
World Average Rate: | 41.25% |
Weighted score: | 48.91% |
World Average Weighted Score: | 41.25% |
World rank: | 65 / 194 |
Developed country rank: | 24 / 30 |
Developed country Avg. Ratifications: | 159 / 282 |
Northern Europe rank: | 10 / 10 |
Northern Europe Avg. Ratifications: | 174 / 282 |
CONTRACTS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
---|---|---|---|---|---|
Agency | 0/2 | 0.00% | 2.00% | 8 | Weak |
Conflict of laws | 0/7 | 0.00% | 3.00% | 27 | Weak |
E-commerce | 0/3 | 0.00% | 18.00% | 70 | Weak |
Franchising | 0/1 | 0.00% | 0.00% | 1 | Average |
Leasing/Factoring | 0/2 | 0.00% | 5.00% | 13 | Weak |
Principles, trade usages and standards | 0/2 | 0.00% | 0.00% | 1 | Average |
Procurement | 0/4 | 0.00% | 3.00% | 31 | Weak |
Sale of Goods | 1/5 (20.00%) | 45.45% | 25.00% | 29 | Strong |
Travel contracts | 0/1 | 0.00% | 3.00% | 7 | Weak |
Total | 1 | 7.25% | 9.00% | 94 | Weak |
CUSTOMS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Customs Codification | 2/3 (66.67%) | 100.00% | 78.00% | 1 | Strong |
Customs Cooperation | 1/6 (16.67%) | 33.33% | 26.00% | 71 | Strong |
Exemption from Duties | 1/9 (11.11%) | 11.11% | 30.00% | 109 | Weak |
Temporary Admission | 3/11 (27.27%) | 26.47% | 28.00% | 74 | Weak |
Transit | 0/4 | 0.00% | 28.00% | 98 | Weak |
Total | 7 | 23.91% | 31.00% | 97 | Weak |
DISPUTE RESOLUTION | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Arbitration | 1/6 (16.67%) | 25.00% | 32.00% | 86 | Weak |
Judicial cooperation | 4/5 (80.00%) | 84.21% | 36.00% | 27 | Strong |
Recognition of foreign judgments | 0/2 | 0.00% | 2.00% | 6 | Weak |
State court jurisdiction | 0/4 | 0.00% | 14.00% | 29 | Weak |
State court procedure | 0/1 | 0.00% | 6.00% | 12 | Weak |
State immunities | 0/1 | 0.00% | 11.00% | 22 | Weak |
Total | 5 | 42.00% | 29.00% | 51 | Strong |
ENVIRONMENT AND PRODUCTS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Air | 5/5 (100.00%) | 100.00% | 86.00% | 1 | Strong |
Chemicals | 0/1 | 0.00% | 78.00% | 152 | Weak |
Energy | 1/2 (50.00%) | 50.00% | 25.00% | 49 | Strong |
Flora and fauna | 7/10 (70.00%) | 71.74% | 68.00% | 72 | Weak |
Foodstuff | 2/2 (100.00%) | 100.00% | 79.00% | 1 | Strong |
General | 1/1 (100.00%) | 100.00% | 95.00% | 1 | Weak |
International watercourses | 0/1 | 0.00% | 18.00% | 36 | Weak |
Maritime and Law of the Sea | 17/26 (65.38%) | 61.96% | 46.00% | 61 | Strong |
Protected geographical areas | 1/1 (100.00%) | 100.00% | 27.00% | 1 | Strong |
Waste | 1/1 (100.00%) | 100.00% | 93.00% | 1 | Weak |
Total | 35 | 71.35% | 61.00% | 53 | Strong |
FINANCE, PAYMENTS AND INSOLVENCY | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Assignment of receivables | 0/1 | 0.00% | 1.00% | 2 | Weak |
Bankruptcy and insolvency | 0/1 | 0.00% | 21.00% | 41 | Weak |
Bills of exchange and promissory notes | 0/4 | 0.00% | 8.00% | 43 | Weak |
Cheques | 0/3 | 0.00% | 13.00% | 36 | Weak |
Credit transfers | 0/1 | 0.00% | 0.00% | 1 | Average |
International guarantees | 0/3 | 0.00% | 20.00% | 75 | Weak |
Total | 0 | 0.00% | 12.00% | 117 | Weak |
GOOD GOVERNANCE | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Corruption | 2/4 (50.00%) | 50.00% | 50.00% | 82 | Weak |
Cultural Property | 2/4 (50.00%) | 50.00% | 54.00% | 61 | Weak |
Drugs | 3/3 (100.00%) | 100.00% | 95.00% | 1 | Weak |
Insider Trading | 0/1 | 0.00% | 4.00% | 9 | Weak |
Organized crime | 1/2 (50.00%) | 62.50% | 80.00% | 112 | Weak |
Total | 8 | 65.38% | 68.00% | 118 | Weak |
HUMAN RIGHTS AND LABOUR STANDARDS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Human Rights | 7/7 (100.00%) | 100.00% | 96.00% | 1 | Weak |
Labour Standards | 8/8 (100.00%) | 100.00% | 86.00% | 1 | Strong |
Total | 15 | 100.00% | 91.00% | 1 | Average |
INSTITUTIONAL PARTICIPATION | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Dispute Resolution | 0/1 | 0.00% | 39.00% | 77 | Weak |
International Trade Law | 7/10 (70.00%) | 70.00% | 73.00% | 84 | Weak |
Trade support institutions | 3/6 (50.00%) | 50.00% | 51.00% | 82 | Weak |
Total | 10 | 58.82% | 63.00% | 99 | Weak |
INTELLECTUAL PROPERTY | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Broadcasting | 1/1 (100.00%) | 100.00% | 47.00% | 1 | Strong |
Copyright | 1/3 (33.33%) | 45.45% | 65.00% | 112 | Weak |
Industrial designs | 2/2 (100.00%) | 100.00% | 31.00% | 1 | Strong |
Integrated circuits | 0/1 | 0.00% | 2.00% | 4 | Weak |
Neighboring Rights | 1/3 (33.33%) | 38.46% | 46.00% | 85 | Weak |
Origin | 0/3 | 0.00% | 14.00% | 51 | Weak |
Patents | 3/5 (60.00%) | 71.43% | 57.00% | 60 | Strong |
Trademarks | 3/6 (50.00%) | 59.09% | 33.00% | 46 | Strong |
Varieties of plants | 1/1 (100.00%) | 100.00% | 37.00% | 1 | Strong |
Total | 12 | 58.95% | 42.00% | 55 | Strong |
INVESTMENTS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Investment disputes | 1/2 (50.00%) | 50.00% | 39.00% | 2 | Strong |
Investment guaranty | 1/1 (100.00%) | 100.00% | 93.00% | 1 | Weak |
Total | 2 | 66.67% | 57.00% | 2 | Strong |
PRODUCTS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Marine Resources | 1/1 (100.00%) | 100.00% | 24.00% | 1 | Strong |
Timber | 0/1 | 0.00% | 31.00% | 61 | Weak |
General | 1/1 (100.00%) | 100.00% | 92.00% | 1 | Weak |
Total | 2 | 61.54% | 53.00% | 61 | Strong |
TRANSPORT AND TELECOMMUNICATIONS | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Air transport | 5/7 (71.43%) | 90.48% | 59.00% | 4 | Strong |
Aircrafts and civil aviation | 6/9 (66.67%) | 88.00% | 74.00% | 37 | Strong |
Maritime shipping and load lines | 9/13 (69.23%) | 82.86% | 66.00% | 73 | Strong |
Maritime transport | 3/12 (25.00%) | 20.83% | 27.00% | 103 | Weak |
Multi modal transport | 0/2 | 0.00% | 4.00% | 15 | Weak |
Rail transport | 0/3 | 0.00% | 22.00% | 50 | Weak |
Road transport | 0/4 | 0.00% | 31.00% | 86 | Weak |
Space | 1/4 (25.00%) | 50.00% | 40.00% | 76 | Strong |
Telecommunications | 1/2 (50.00%) | 83.33% | 47.00% | 26 | Strong |
Total | 25 | 56.08% | 50.00% | 77 | Strong |
TREATIES LAW | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
General | 0/4 | 0.00% | 30.00% | 113 | Weak |
Total | 0 | 0.00% | 30.00% | 113 | Weak |
WTO | Inst. ratified | Country score | World avg. score | Country rank in world | Strength |
Plurilateral Agreements | 1/2 (50.00%) | 50.00% | 18.00% | 26 | Strong |
WTO Agreements | 1/1 (100.00%) | 100.00% | 81.00% | 1 | Strong |
Total | 2 | 72.73% | 47.00% | 26 | Strong |
Strong | |
---|---|
Contracts | Sale of Goods |
Customs | Customs Codification |
Customs | Customs Cooperation |
Dispute resolution | Judicial cooperation |
Environment and products | Air |
Environment and products | Energy |
Environment and products | Foodstuff |
Environment and products | Maritime and Law of the Sea |
Environment and products | Protected geographical areas |
Human Rights and Labour Standards | Labour Standards |
Intellectual property | Broadcasting |
Intellectual property | Industrial designs |
Intellectual property | Patents |
Intellectual property | Trademarks |
Intellectual property | Varieties of plants |
Investments | Investment disputes |
Products | Marine Resources |
Transport and telecommunications | Air transport |
Transport and telecommunications | Aircrafts and civil aviation |
Transport and telecommunications | Maritime shipping and load lines |
Transport and telecommunications | Space |
Transport and telecommunications | Telecommunications |
WTO | Plurilateral Agreements |
WTO | WTO Agreements |
Average | |
Contracts | Franchising |
Contracts | Principles, trade usages and standards |
Finance, payments and insolvency | Credit transfers |
Weak | |
Contracts | Agency |
Contracts | Conflict of laws |
Contracts | E-commerce |
Contracts | Leasing/Factoring |
Contracts | Procurement |
Contracts | Travel contracts |
Customs | Exemption from Duties |
Customs | Temporary Admission |
Customs | Transit |
Dispute resolution | Arbitration |
Dispute resolution | Recognition of foreign judgments |
Dispute resolution | State court jurisdiction |
Dispute resolution | State court procedure |
Dispute resolution | State immunities |
Environment and products | Chemicals |
Environment and products | Flora and fauna |
Environment and products | General |
Environment and products | International watercourses |
Environment and products | Waste |
Finance, payments and insolvency | Assignment of receivables |
Finance, payments and insolvency | Bankruptcy and insolvency |
Finance, payments and insolvency | Bills of exchange and promissory notes |
Finance, payments and insolvency | Cheques |
Finance, payments and insolvency | International guarantees |
Good Governance | Corruption |
Good Governance | Cultural Property |
Good Governance | Drugs |
Good Governance | Insider Trading |
Good Governance | Organized crime |
Human Rights and Labour Standards | Human rights |
Institutional Participation | Dispute Resolution |
Institutional Participation | International Trade Law |
Institutional Participation | Trade support institutions |
Intellectual property | Copyright |
Intellectual property | Integrated circuits |
Intellectual property | Neighboring Rights |
Intellectual property | Origin |
Investments | Investment guaranty |
Products | General |
Products | Timber |
Transport and telecommunications | Maritime transport |
Transport and telecommunications | Multi modal transport |
Transport and telecommunications | Rail transport |
Transport and telecommunications | Road transport |
Treaties law | General |
Restricted content, please sign in for view.
Restricted content, please sign in for view.
Restricted content, please sign in for view.