Iceland has one of the world’s oldest parliaments: the Althingi, established in 930 AD at Thingvellir, is the oldest parliament still in existence.
The Republic of Iceland
IcelandNorthern EuropeGeneral Information
Border Countries
Last Updated: July 2026Source: Internal Research
Key Facts
Vigdis Finnbogadottir was elected President of Iceland in 1980, becoming the first woman in the world to be democratically elected as a head of state.
Iceland was one of NATO’s twelve founding members in 1949 and remains the only NATO member without its own military forces.
Iceland expanded its exclusive fisheries zone to 200 nautical miles in 1975 during the series of disputes with the United Kingdom known as the Cod Wars.
Iceland publishes more books per capita than any other country, and its Christmas Eve tradition of Jolabokaflod (the Christmas Book Flood) sees people exchange and read books.
Over 99% of Iceland’s electricity and heating comes from domestic renewable sources, primarily geothermal and hydroelectric power.
Surtsey is a volcanic island that formed south of Iceland during eruptions from 1963 to 1967 and has been protected as a natural scientific laboratory.
The 2010 eruption of Eyjafjallajokull caused the cancellation of more than 100,000 flights and affected about seven million passengers.
Nordic clinker boat traditions shared by Iceland and four other Nordic countries were inscribed on UNESCO’s Representative List of Intangible Cultural Heritage in 2021.
The Arnamagnaean Manuscript Collection contains nearly 3,000 items, including important medieval Icelandic sagas, and was added to UNESCO’s Memory of the World Register in 2009.
Iceland’s 1703 census is the oldest surviving nominal census in the world that records every member of an entire country’s population by name, age and social status.
The 1703 Census of Iceland was added to UNESCO’s Memory of the World International Register in 2013.
Last Updated: July 2026Source: Internal Research
Economic Overview
Macroeconomic Snapshot
Economic Comparison
| Indicator | IcelandUAE | ||
|---|---|---|---|
| GDP, current pricesUSD Billions | - | - | |
| GDP, PPPCurrent int$ | - | - | |
| Real GDP growthAnnual percent change (%) | - | - | |
| GDP per capita, current pricesUSD per capita | - | - | |
| PopulationMillions of people | - | - | |
| Unemployment rate% of total labor force | - | - | |
| Inflation rate (avg. consumer prices)Annual percent change (%) | - | - | |
| General government gross debt% of GDP | - | - | |
| Income levelWorld Bank classification | - | - |
Foreign Trade
No data available for this section yet.
Political Overview
Leadership
H.E. Halla Tomasdottir
Since August 2024
H.E. Kristrun Frostadottir
Since December 2024
H.E. Thorgerdur Katrin Gunnarsdottir
Since December 2024
H.E. Dr. Dadi Mar Kristofersson
Since December 2024
H.E. Hanna Katrin Fridriksson
Since December 2024
Political Summary
Political System
The President is directly elected, and the Althingi is a unicameral parliament of 63 members. The Constitution vests legislative power jointly in the Althingi and the President, while executive authority is exercised by the President and the government.
Ruling Party
Social Democratic Alliance, in coalition with the Liberal Reform Party and the People’s Party: Centre-left (since December 2024)
Main Opposition Force(s)
Independence Party: Centre-rightCentre Party: Right-wingProgressive Party: Centre
Next Presidential Election
Next Legislative Election
Last Updated: May 2026Source: Internal Research
Membership in Key Organizations and Blocs
No organisation matches.
Last Updated: July 2026Source: Official websites of the respective organizations
Competitiveness Indexes
| Index | Year | Rank Out of | Iceland | UAE |
|---|
No index matches.
Diplomatic Relations and Representation
Last Updated: June 2026Source: MoFA; Internal Research
Flights by UAE Carriers
Passenger Flights
October 2026 figuresCargo Flights
October 2026 figuresLast Updated: October 2026Source: GCAA
Consular Information
Tourists | Residents | Students | Golden Visa Holders | |
|---|---|---|---|---|
Iceland Nationalsin the UAE | - | - | - | - |
UAE Citizensin Iceland | - | - | - | - |
Main Agreements and MoUs
| Agreement / MOU | Status | Notes |
|---|---|---|
CEPAComprehensive Economic Partnership Agreement | - | - |
IPPAInvestment Protection and Promotion Agreement | - | - |
DTADouble Taxation Avoidance Agreement | - | - |
ASAAir Services Agreement | Signed | Signed on 29 Sep 2015. |
Last Updated: April 2026Source: Internal Research
UAE Foreign Assistance
| UAE Aid to Iceland | Total Amount |
|---|---|
| Amount (USD Mn) | - |
Bilateral Visits
Official Visits from the UAE
- H.E. Mariam bint Mohammed AlmheiriMinister of Climate Change and EnvironmentOct2023
- H.E. Dr. Sultan bin Ahmed Al JaberMinister of Industry and Advanced Technology, and COP28 President-DesignateOct2023
- H.H. Sheikh Abdullah bin Zayed Al NahyanMinister of Foreign AffairsMay2009
- H.E. Dr. Sultan bin Ahmed Al JaberCEO of MasdarMar2006
Official Visits to the UAE
- H.E. Katrin JakobsdottirPrime Minister of IcelandDec2023
- H.E. Gudlaugur Thor ThordarsonMinister of the Environment, Energy and Climate of IcelandDec2023
- H.E. Olafur Ragnar GrimssonFormer President of IcelandJan2023
- H.E. Gunnar Bragi SveinssonMinister for Foreign Affairs of IcelandJan2016
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2016
- H.E. Olafur Ragnar GrimssonPresident of IcelandOct2015
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2015
- H.E. Olafur Ragnar GrimssonPresident of IcelandMar2014
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2014
- H.E. Olafur Ragnar GrimssonPresident of IcelandNov2013
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2013
- H.E. Olafur Ragnar GrimssonPresident of IcelandOct2012
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2012
- H.E. Olafur Ragnar GrimssonPresident of IcelandDec2011
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2011
- H.E. Olafur Ragnar GrimssonPresident of IcelandNov2010
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2010
- H.E. Olafur Ragnar GrimssonPresident of IcelandNov2009
- H.E. Olafur Ragnar GrimssonPresident of IcelandJan2008
- H.E. Ossur SkarphedinssonMinister of Industry and Energy of IcelandJan2008
The officials’ titles shown reflect the positions held at the time of the visit.
Last Updated: April 2026Source: Internal Research
Trade
Non-Oil Bilateral Trade
Rank Among UAE's Trade Partners
Key Trade Commodities
Foreign Direct Investment Flows
Capex and jobs data include estimated values.
Last Updated: November 2026Source: fDi Markets
Major Companies and Investments
Major Icelandic Companies in the UAE
Icelandair GroupAviation
MarelFood technology
Major UAE Companies in Iceland
DP World-
Last Updated: April 2026Source: Internal Research
Business Support
Cooperation Opportunities
Priority level: HIGH / MEDIUM / EMERGING, based on overall attractiveness to the UAE.
Last Updated: September 2026Source: Internal Research