Editing Iceland (section)

==Economy==
{{main|Economy of Iceland}}
[[File:Акурейрі влітку, Ісландія.jpg|thumb|right|[[Akureyri]] is the largest town in Iceland outside the [[Capital Region (Iceland)|Capital Region]]. Most rural towns are based on the fishing industry, which provides 40% of Iceland's exports.]]

In 2022, Iceland was the [[List of countries by GDP (nominal) per capita|eighth-most productive country in the world per capita]] (US$78,837), and the thirteenth-most productive by [[List of countries by GDP (PPP) per capita|GDP]] at [[purchasing power parity]] ($69,833).<ref>{{Cite web |title=World Economic Outlook Database |date=October 2023 |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report |access-date=2024-03-24 |website=IMF |language=en |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102105412/https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report |url-status=live }}</ref> About 85 percent of the total [[primary energy]] supply in Iceland is derived from domestically produced renewable energy sources.<ref>{{cite web |url=http://askjaenergy.org/iceland-introduction/energy-data/ |title=Energy Data |publisher=Askja Energy |date=3 May 2012 |access-date=4 August 2013 |archive-date=30 July 2015 |archive-url=https://web.archive.org/web/20150730061221/http://askjaenergy.org/iceland-introduction/energy-data/ |url-status=live }}</ref> Use of abundant [[hydroelectricity|hydroelectric]] and [[geothermal power]] has made Iceland the world's largest electricity producer per capita.<ref name="largest-electricity">{{cite web |title=World's largest electricity producer per capita|url=http://askjaenergy.org/2012/06/04/worlds-largest-electricity-producer-per-capita/ |publisher=Askja Energy |access-date=4 August 2013 |date=4 June 2012 |archive-date=23 July 2015 |archive-url=https://web.archive.org/web/20150723175952/http://askjaenergy.org/2012/06/04/worlds-largest-electricity-producer-per-capita/ |url-status=live }}</ref>

Historically, Iceland's economy depended heavily on fishing, which still provides ~20% of export earnings and employed 7% of the workforce.<ref name="CIA Govt" /><ref name=":2">{{Cite web |date=2022-08-15 |title=File:Iceland Export Treemap 2020.png - Wikipedia |url=https://commons.wikimedia.org/wiki/File:Iceland_Export_Treemap_2020.png |access-date=2024-03-24 |website=commons.wikimedia.org |language=en |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610033748/https://commons.wikimedia.org/wiki/File:Iceland_Export_Treemap_2020.png |url-status=live }}</ref> The economy is now more dependent on tourism, but important sectors continue to be: fish and fish products, aluminium, and [[ferrosilicon]]. Iceland's economic dependence on fishing is diminishing, from an export share of 90% in the 1960s to 20% in 2020.<ref>{{cite web |url=http://www.iceland.org/us/the-embassy/trade-economy/ |title=Trade and Economy, Embassy of Iceland, Undated. Retrieved 24 March 2010 |publisher=Iceland.org |access-date=7 November 2010 |url-status=dead |archive-url=https://web.archive.org/web/20091015025144/http://www.iceland.org/us/the-embassy/trade-economy/ |archive-date=15 October 2009}}</ref><ref name=":2" />

Until the 20th century, Iceland was a fairly poor country. [[Whaling in Iceland]] was historically significant. It is now one of the most developed countries in the world. Strong economic growth led Iceland to be ranked [[List of countries by Human Development Index|third]] in the [[United Nations]]' [[Human Development Index]] report for 2021/2022.<ref name="HDI" /> According to the Economist Intelligence Index of 2011, Iceland had the second-highest quality of life in the world.<ref>[http://www.invest.is/news/337/default.aspx News – Iceland second in the world's quality of life index] {{webarchive |url=https://web.archive.org/web/20091221074046/http://www.invest.is/news/337/default.aspx |date=21 December 2009}}. Invest.is. 5 September 2007. Retrieved 28 April 2012.</ref> Based on the [[Gini coefficient]], Iceland also has one of the lowest rates of income inequality in the world,<ref name="autogenerated1">{{cite web |url=http://stats.oecd.org/Index.aspx?QueryId=26067&Lang=en |title=Income distribution – Inequality |author=OECD |access-date=27 October 2014 |archive-date=19 February 2012 |archive-url=https://web.archive.org/web/20120219032905/http://stats.oecd.org/Index.aspx?QueryId=26067&Lang=en |url-status=live }}</ref> and when [[List of countries by inequality-adjusted HDI|adjusted for inequality]], its HDI ranking is sixth.<ref>{{cite web |url=http://hdr.undp.org/en/statistics/ihdi/ |title=Inequality-adjusted Human Development Index (IHDI) |publisher=Hdr.undp.org |access-date=15 May 2012 |archive-date=6 August 2011 |archive-url=https://web.archive.org/web/20110806085450/http://hdr.undp.org/en/statistics/ihdi/ |url-status=dead }}</ref> Iceland's unemployment rate has declined consistently since the crisis, with 4.8% of the labour force being unemployed {{as of|2012|June|lc=y}}, compared to 6% in 2011 and 8.1% in 2010.<ref name="CIA Govt" /><ref>{{cite web|url=http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&language=en&pcode=teilm020&tableSelection=1&plugin=1|title=Eurostat – Tables, Graphs and Maps Interface (TGM) table|access-date=27 October 2014|archive-date=1 November 2014|archive-url=https://web.archive.org/web/20141101202312/http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&language=en&pcode=teilm020&tableSelection=1&plugin=1|url-status=live}}</ref><ref>{{cite web|url = http://icelandreview.com/icelandreview/daily_news/Unemployment_Drops_Below_5_Percent_0_391737.news.aspx|title = Unemployment Drops Below 5 Percent|work = Iceland Review|date = 15 July 2012|access-date = 16 July 2012|archive-url = https://web.archive.org/web/20120717060335/http://www.icelandreview.com/icelandreview/daily_news/Unemployment_Drops_Below_5_Percent_0_391737.news.aspx|archive-date = 17 July 2012|url-status = dead}}</ref>

The national currency of Iceland is the [[Icelandic króna]] (ISK). Iceland is the only country in the world to have a population under two million yet still have a floating exchange rate and an independent monetary policy.<ref>{{Cite web|url=http://ams.hi.is/wp-content/uploads/2014/03/Uttekt-AMS-um-adildarvidraedur-Islands-vid-ESB.pdf|title=Aðildarviðræður Íslands við ESB|access-date=20 April 2017|archive-date=13 April 2018|archive-url=https://web.archive.org/web/20180413052431/http://ams.hi.is/wp-content/uploads/2014/03/Uttekt-AMS-um-adildarvidraedur-Islands-vid-ESB.pdf|url-status=dead}}</ref> A poll released on 5 March 2010 by Capacent [[Gallup (company)|Gallup]] showed that 31% of respondents were in favour of adopting the [[euro]] and 69% opposed.<ref>{{Cite news|url = http://www.si.is/media/althjodlegt-samstarf/almenningur_2010-02.pdf|title = Gallup Icelandic Euro vote poll|access-date = 20 September 2010|archive-date = 21 February 2011|archive-url = https://web.archive.org/web/20110221195416/http://www.si.is/media/althjodlegt-samstarf/almenningur_2010-02.pdf|url-status = live}}</ref> Another Capacent Gallup poll conducted in February 2012 found that 67.4% of Icelanders would reject EU membership in a referendum.<ref>[http://www.mbl.is/frettir/innlent/2012/02/28/67_prosent_myndu_hafna_esb_adild/ "67% myndu hafna ESB-aðild"] {{Webarchive|url=https://web.archive.org/web/20130927222613/http://www.mbl.is/frettir/innlent/2012/02/28/67_prosent_myndu_hafna_esb_adild/ |date=27 September 2013 }}. ''mbl.is'' (28 February 2012). Retrieved 28 April 2012.</ref>

Iceland's economy has been diversifying into manufacturing and service industries in the last decade, including software production, [[biotechnology]], and finance; industry accounts for around a quarter of economic activity, while services comprise close to 70%.<ref>[https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html#ic "GDP – composition by sector"]. ''CIA World Factbook''. {{Webarchive|url=https://web.archive.org/web/20181011015618/https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html#ic |date=11 October 2018 }}. United States: Central Intelligence Agency.</ref> The tourism sector is expanding, especially in [[ecotourism]] and whale-watching. On average, Iceland receives around 1.1&nbsp;million visitors annually, which is more than three times the native population.<ref name="Iceland – OECD Better Life Index">[http://oecdbetterlifeindex.org/countries/iceland/ Iceland – OECD Better Life Index] {{Webarchive|url=https://web.archive.org/web/20130508153547/http://www.oecdbetterlifeindex.org/countries/iceland/|date=8 May 2013}}. Oecdbetterlifeindex.org. Retrieved 28 April 2012.</ref> 1.7 million people visited Iceland in 2016, 3 times more than the number that came in 2010.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-41725713 |title=Are too many tourists visiting Iceland? |first=Edwin |last=Lane |date=27 October 2017 |work=BBC News |access-date=22 June 2018 |archive-date=8 February 2023 |archive-url=https://web.archive.org/web/20230208221940/https://www.bbc.co.uk/news/business-41725713 |url-status=live }}</ref> Iceland's agriculture industry, accounting for 5.4% of GDP,<ref name = "CIA Govt"/> consists mainly of [[potato]]es, green vegetables (in [[greenhouse]]s), [[mutton]], and dairy products.<ref name = "CIA Govt"/> The financial centre is [[Borgartún]] in Reykjavík, which hosts a large number of companies and three investment banks. Iceland's [[stock market]], the [[Iceland Stock Exchange]] (ISE), was established in 1985.<ref>{{cite web |url=http://www.nasdaqomx.com/whoweare/milestones/milestonesomx/ |archive-url=https://web.archive.org/web/20081116011930/http://www.nasdaqomx.com/whoweare/milestones/milestonesomx/ |archive-date=16 November 2008 |title=Milestones of OMX and its Legal Entities |publisher=nasdaqomx.com |access-date=11 February 2010 |url-status=dead}}</ref>

{{As of|2019}}, it ranks 26th in the [[World Economic Forum]]'s Global Competitive Index, two places lower than in 2018.<ref>[https://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf The Global Competitiveness Report 2019] {{Webarchive|url=https://web.archive.org/web/20230208221952/https://www3.weforum.org/docs/gcr/2015-2016/ISL.pdf|date=8 February 2023}}. World Economic Forum (2019)</ref> According to the [[Global Innovation Index]], Iceland is the 22nd most innovative country in the world in 2024.<ref>{{Cite book |author=[[World Intellectual Property Organization]] |year=2024 |title=Global Innovation Index 2024: Unlocking the Promise of Social Entrepreneurship |url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/ |access-date=2024-10-06 |page=18 |publisher=World Intellectual Property Organization |language=en |doi=10.34667/tind.50062 |isbn=978-92-805-3681-2}}</ref>

Despite low tax rates, agricultural assistance is the highest among OECD countries and a potential impediment to structural change. Also, health care and education spending have relatively poor returns by OECD measures, though improvements have been made in both areas. The OECD ''Economic Survey of Iceland 2008'' highlighted Iceland's challenges in currency and macroeconomic policy.<ref>{{cite web|url=http://www.oecd.org/document/36/0,3343,en_2649_34569_40157540_1_1_1_1,00.html |title=Economic survey of Iceland 2008 |publisher=OECD |access-date=10 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20091001102017/http://www.oecd.org/document/36/0%2C3343%2Cen_2649_34569_40157540_1_1_1_1%2C00.html |archive-date=1 October 2009 }}</ref> There was a [[currency crisis]] that started in the spring of 2008, and on 6 October trading in Iceland's banks was suspended as the government battled to save the economy.<ref>{{Cite news|last = Lynch|first = David J.|url = https://www.usatoday.com/money/world/2008-04-01-iceland-banks_N.htm|title = Bank default worries slam Iceland's currency|publisher = USA Today|date = 1 April 2008|access-date = 10 February 2010|archive-date = 14 March 2012|archive-url = https://web.archive.org/web/20120314200857/http://www.usatoday.com/money/world/2008-04-01-iceland-banks_N.htm|url-status = live}}</ref> An assessment by the OECD 2011<ref name=oecd2011>{{cite web|url=http://www.oecd.org/document/16/0,3746,en_2649_34569_43946384_1_1_1_1,00.html |title=Economic Survey of Iceland 2011 |publisher=OECD |url-status=dead |archive-url=https://web.archive.org/web/20120417221639/http://www.oecd.org/document/16/0%2C3746%2Cen_2649_34569_43946384_1_1_1_1%2C00.html |archive-date=17 April 2012}}</ref> determined that Iceland has made progress in many areas, particularly in creating a sustainable fiscal policy and restoring the health of the financial sector; however, challenges remain in making the fishing industry more efficient and sustainable, as well as in improving monetary policy to address inflation.<ref name=oecd2011/> Iceland's public debt has decreased since the economic crisis, and {{as of|2015|lc=y}} is the 31st-highest in the world by proportion of national GDP.<ref>{{cite web |url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html?countryName=Iceland&countryCode=ic&regionCode=eur&rank=6#ic |title=Country Comparison: Public debt |work=The World Factbook |location=United States |publisher=Central Intelligence Agency |access-date=27 October 2014 |archive-date=19 November 2012 |archive-url=https://web.archive.org/web/20121119030206/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html?countryName=Iceland&countryCode=ic&regionCode=eur&rank=6#ic |url-status=dead }}</ref>

===Economic contraction===
{{main|2008–2011 Icelandic financial crisis}}
[[File:W16 Protesters 2659.JPG|thumb|[[2009 Icelandic financial crisis protests]]]]

[[File:Iceland bonds.webp|thumb|340px|Iceland bonds had an [[Inverted yield curve]] in 2008:
{{legend-line|#02529C solid 3px|10 year bonds}}
{{legend-line|#DC1E35 solid 3px|5 year bonds}}
{{legend-line|#929292 solid 3px|2 year bonds}}
]]

Iceland was hit especially hard by the [[Great Recession]] that began in December 2007 because of the failure of its banking system and a subsequent economic crisis. Before the crash of the country's three largest banks, [[Glitnir (bank)|Glitnir]], [[Landsbanki]] and [[Kaupthing]], their combined debt exceeded approximately six times the nation's gross domestic product of €14&nbsp;billion ($19&nbsp;billion).<ref name="bbc.1">{{cite news |url=http://news.bbc.co.uk/2/hi/europe/7852275.stm |title=Waking up to reality in Iceland |work=BBC News |access-date=27 January 2009 |date=26 January 2009 |archive-date=26 January 2009 |archive-url=https://web.archive.org/web/20090126205753/http://news.bbc.co.uk/2/hi/europe/7852275.stm |url-status=live }}</ref><ref>{{cite web |url=http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/creditors_call_time_on_iceland.html |title=Robert Peston |publisher=BBC |date=4 October 2008 |access-date=8 July 2009 |archive-date=7 October 2008 |archive-url=https://web.archive.org/web/20081007065042/http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/creditors_call_time_on_iceland.html |url-status=live }}</ref> In October 2008, the Icelandic parliament passed emergency legislation to minimise the impact of the financial crisis. The Financial Supervisory Authority of Iceland used permission granted by the emergency legislation to take over the domestic operations of the three largest banks.<ref>{{cite web |url=http://e24.no/spesial/finanskrisen/article2696518.ece |title=Gud velsigne Island! |publisher=E24.no |date=6 October 2008 |access-date=8 July 2009 |url-status=dead |archive-url=https://archive.today/20120702211413/http://e24.no/spesial/finanskrisen/article2696518.ece |archive-date=2 July 2012}}</ref> Icelandic officials, including central bank governor [[Davíð Oddsson]], stated that the state did not intend to take over any of the banks' foreign debts or assets. Instead, new banks were established to take on the domestic operations of the banks, and the old banks were to be run into bankruptcy.

On 28 October 2008, the Icelandic government raised interest rates to 18% ({{as of|2019|August|lc=y}}, it was 3.5%), a move forced in part by the terms of acquiring a loan from [[International Monetary Fund]] (IMF). After the rate hike, trading on the Icelandic króna finally resumed on the open market, with a valuation at around 250 ISK per euro, less than one-third the value of the 1:70 exchange rate during most of 2008, and a significant drop from the 1:150 exchange ratio of the week before. On 20 November 2008, the [[Nordic countries]] agreed to lend Iceland $2.5&nbsp;billion.<ref>{{cite web|url = http://www.norden.org/en/news-and-events/news/nordic-countries-provide-iceland-with-new-loan|title = Nordic countries provide Iceland with new loan|publisher = [[Nordic Council]]|date = 20 November 2008|access-date = 25 November 2013|archive-url = https://web.archive.org/web/20131203001844/http://www.norden.org/en/news-and-events/news/nordic-countries-provide-iceland-with-new-loan|archive-date = 3 December 2013|url-status=dead|df = dmy-all}}</ref>

On 26 January 2009, the coalition government collapsed due to public dissent over the handling of the financial crisis. A new left-wing government was formed a week later and immediately set about removing Central Bank governor Davíð Oddsson and his aides from the bank through changes in the law. Davíð was removed on 26 February 2009 in the wake of protests outside the Central Bank.<ref>{{cite news|url = http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5811719.ece|title = Iceland's central bank chief David Oddsson is forced out|last = Gilmore|first = Gráinne|date = 27 February 2009|work = [[The Times]]|access-date = 22 April 2010|location = London|archive-date = 9 August 2011|archive-url = https://web.archive.org/web/20110809172139/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5811719.ece|url-status = dead}}</ref>

Thousands of Icelanders left the country after the collapse, many of those moving to Norway. In 2005, 293 people moved from Iceland to Norway; in 2009, the figure was 1,625.<ref>{{cite web|url = http://www.nrk.no/nyheter/distrikt/rogaland/1.7190612|title = Islandsk innvandringsboom til Norge|publisher = NRK|date = 30 June 2010|access-date = 27 July 2010|language = no|archive-date = 23 October 2012|archive-url = https://web.archive.org/web/20121023051615/http://www.nrk.no/nyheter/distrikt/rogaland/1.7190612|url-status = live}}</ref> In April 2010, the Icelandic Parliament's Special Investigation Commission published the findings of its investigation,<ref>{{cite web|url = http://sic.althingi.is/|title = Althingi&nbsp;– Report of the Special Investigation Commission (SIC)|publisher = Sic.althingi.is|date = 12 April 2010|access-date = 7 November 2010|archive-date = 23 February 2011|archive-url = https://web.archive.org/web/20110223192152/http://sic.althingi.is/|url-status = live}}</ref> revealing the extent of control fraud in this crisis.<ref>{{cite web|last = Gylfason|first = Thorvaldur|url = http://www.voxeu.org/index.php?q=node/4965|title = Iceland's special investigation: The plot thickens|publisher = VoxEU.org|date = 30 April 2010|access-date = 7 November 2010|archive-date = 13 June 2010|archive-url = https://web.archive.org/web/20100613194801/http://voxeu.org/index.php?q=node/4965|url-status = live}}</ref> By June 2012, Landsbanki managed to repay about half of the [[Icesave dispute|Icesave]] debt.<ref>{{cite web|url = http://www.icelandreview.com/icelandreview/daily_news/Half_of_Iceland%E2%80%99s_Icesave_Debt_Repaid_0_391042.news.aspx|title = Half of Iceland's Icesave Debt Repaid|work = Iceland Review|date = 19 June 2012|access-date = 20 June 2012|archive-url = https://web.archive.org/web/20120622043433/http://www.icelandreview.com/icelandreview/daily_news/Half_of_Iceland%E2%80%99s_Icesave_Debt_Repaid_0_391042.news.aspx|archive-date = 22 June 2012|url-status = dead}}</ref>

According to [[Bloomberg L.P.|Bloomberg]] in 2014, Iceland was on the trajectory of 2% unemployment as a result of crisis-management decisions made back in 2008, including allowing the banks to fail.<ref>Omar R. Valdimarsson (27 January 2014). [https://www.bloomberg.com/news/2014-01-27/let-banks-fail-becomes-iceland-mantra-as-2-joblessness-in-sight.html "Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight"] {{Webarchive|url=https://web.archive.org/web/20150108002433/http://www.bloomberg.com/news/2014-01-27/let-banks-fail-becomes-iceland-mantra-as-2-joblessness-in-sight.html |date=8 January 2015 }}. [[Bloomberg L.P.|Bloomberg]]. Retrieved 29 January 2014.</ref>

===Transport===
{{main|Transport in Iceland}}

==== Road ====
[[File:Route1(iceland).png|thumb|[[Route 1 (Iceland)|The Ring Road of Iceland]] and some towns it passes through: 1. [[Reykjavík]], 2. [[Borgarnes]], 3. [[Blönduós]], 4. [[Akureyri]], 5. [[Egilsstaðir]], 6. [[Höfn]], 7. [[Selfoss (town)|Selfoss]]]]
Iceland has a high level of car ownership per capita, with a car for every 1.5 inhabitants; it is the main form of transport.<ref>{{cite web |url=http://statice.is/?PageID=1236&src=%2Ftemp_en%2FDialog%2Fvarval.asp%3Fma%3DSAM03101%26ti%3DRegistered+motor+vehicles+1950-2008++%26path%3D..%2FDatabase%2Fferdamal%2FOkutaeki%2F%26lang%3D1%26units%3DNumber |title=Inhabitants per passenger car, in 2008 |publisher=Statistics Iceland |year=2008 |access-date=10 February 2010 |archive-date=18 November 2020 |archive-url=https://web.archive.org/web/20201118130708/https://statice.is/?PageID=1236&src=%2Ftemp_en%2FDialog%2Fvarval.asp%3Fma%3DSAM03101&ti=Registered+motor+vehicles+1950-2008++&path=..%2FDatabase%2Fferdamal%2FOkutaeki%2F&lang=1&units=Number |url-status=live }}</ref> Iceland has {{convert|13034|km|0|abbr=on}} of administered roads, of which {{convert|4617|km|0|abbr=on}} are paved and {{convert|8338|km|0|abbr=on}} are not.{{as of?|date=March 2025}} The road speed limits are {{convert|30|and|50|km/h|0|abbr=on}} in towns, {{convert|80|km/h|0|abbr=on}} on gravel country roads and {{convert|90|km/h|0|abbr=on}} on hard-surfaced roads. A great number of interior roads remain unpaved, mostly little-used rural roads.<ref>{{cite web |url=http://goscandinavia.about.com/od/mapstransportation/tp/drivinginiceland.htm |title=Driving in Iceland: Iceland Driving Tips for Visitors&nbsp;– How to Drive in Iceland&nbsp;– Driving Tips for Iceland Travelers&nbsp;– Driving Cars in Scandinavia |publisher=Goscandinavia.about.com |date=4 December 2007 |access-date=8 July 2009 |archive-date=23 May 2009 |archive-url=https://web.archive.org/web/20090523230430/http://goscandinavia.about.com/od/mapstransportation/tp/drivinginiceland.htm |url-status=dead }}</ref> Many of Iceland's roads can be challenging to navigate during winter, particularly when covered with snow or ice. Using a 4x4 vehicle provides greater flexibility for travel and improves accessibility to remote areas.<ref>{{Cite web |title=How to travel Iceland in winter by Ása Steinars - Iceland - Rexby |url=https://www.rexby.com/asasteinars/t/how-to-travel-iceland-in-winter |access-date=2025-03-17 |website=www.rexby.com |language=en}}</ref>

[[Route 1 (Iceland)|Route 1]], or the Ring Road ({{langx|is|Þjóðvegur 1}} or {{lang|is|Hringvegur}}), completed in 1974, is the main road that runs around Iceland and connects most inhabited parts of the island. The interior of the island is mostly uninhabitable. The road is paved and is {{convert|1332|km|0|abbr=on}} long with one lane in each direction, except between and within larger towns and cities where it has more lanes.<ref>{{cite web |url=http://www.vegagerdin.is/vegakerfid/vegalengdir/ |title=Vegalengdir |access-date=19 January 2017 |archive-date=8 January 2016 |archive-url=https://web.archive.org/web/20160108192311/http://www.vegagerdin.is/vegakerfid/vegalengdir |url-status=live }}</ref> On Route 1 there are some 30 single lane bridges, particularly prevalent in the southeast.<ref>{{Cite web |title=Einbreiðum brúm á Hringveginum fækkað úr 36 í 22 á næstu fimm árum |url=https://www.stjornarradid.is/efst-a-baugi/frettir/stok-frett/2020/09/02/Einbreidum-brum-a-Hringveginum-faekkad-ur-36-i-22-a-naestu-fimm-arum/ |access-date=2024-03-24 |website=www.stjornarradid.is |language=is |archive-date=28 August 2023 |archive-url=https://web.archive.org/web/20230828085827/https://www.stjornarradid.is/efst-a-baugi/frettir/stok-frett/2020/09/02/Einbreidum-brum-a-Hringveginum-faekkad-ur-36-i-22-a-naestu-fimm-arum/ |url-status=live }}</ref>

==== Public transport ====
[[File:Strætó AI H01 (27837800934).jpg|thumb|upright|Long-distance bus operated by the public bus company [[Strætó bs|Strætó]]]]
[[Bus|City buses]] in [[Reykjavík]] (including the [[Capital Region (Iceland)|Capital Region]]) are operated by [[Strætó bs]]. Long-distance public bus services throughout the country are also provided by [[Strætó bs]]. Smaller towns such as [[Akureyri]], [[Reykjanesbær]] and [[Selfoss (town)|Selfoss]] also provide local bus services.<ref>{{Cite web |title=Strætó |url=https://straeto.is/ |access-date=2024-03-24 |website=Strætó |language=is |archive-date=26 March 2024 |archive-url=https://web.archive.org/web/20240326202638/https://straeto.is/ |url-status=live }}</ref> Public and private bus services are available to and from Keflavik International Airport.<ref>{{cite web |title=Airport Shuttle from Keflavik Airport, Iceland |url=https://www.kefairport.is/English/To-and-from-the-Airport/Buses/ |url-status=live |archive-url=https://web.archive.org/web/20170914235613/https://www.kefairport.is/English/To-and-from-the-Airport/Buses/ |archive-date=14 September 2017 |access-date=14 August 2017 |publisher=Keflavik International Airport}}</ref>

No passenger railways have ever operated in Iceland. Previously, temporary freight [[Rail transport in Iceland|railways have operated in Iceland]].

==== Air travel ====
[[Keflavík International Airport]] (KEF)<ref>{{cite web |url=https://www.kefairport.is/ |title=Keflavíkurflugvöllur, Komur og brottfarir, Flugáætlun, Ferðaveður, Bílastæði við Keflavíkurflugvöll |language=is |website=www.kefairport.is |access-date=14 August 2017 |archive-url=https://web.archive.org/web/20180326093823/https://www.kefairport.is/ |archive-date=26 March 2018 |url-status=dead}}</ref> is the largest airport and the main aviation hub for international passenger transport.<ref>{{cite web |url=http://www.tripsta.co.uk |title=tripsta |access-date=17 October 2019 |archive-url=https://web.archive.org/web/20190921081552/https://www.tripsta.co.uk/ |archive-date=21 September 2019 |url-status=dead}}</ref> KEF is in the southwest of the country, {{convert|49|km|0|abbr=on}}<ref>{{Cite web|url=http://www.vegagerdin.is/vegakerfid/vegalengdir/lengdir/?id=59|title=Brottfararstaður Flugstöð Leifs Eiríkssonar|website=Vegagerðin|access-date=15 February 2021|archive-date=25 February 2021|archive-url=https://web.archive.org/web/20210225010710/http://www.vegagerdin.is/vegakerfid/vegalengdir/lengdir?id=59|url-status=live}}</ref> from the Reykjavík city centre.

[[Reykjavík Airport]] (RKV)<ref>{{cite web |url=https://www.isavia.is/english/airports/reykjavik-international-airport |title=Reykjavík International Airport |website=www.isavia.is |access-date=14 August 2017 |archive-date=14 August 2017 |archive-url=https://web.archive.org/web/20170814105252/https://www.isavia.is/english/airports/reykjavik-international-airport |url-status=live }}</ref> is the second-largest airport, located just 1.5&nbsp;km from the capital centre. Reykjavík Airport serves daily regular domestic flights within Iceland, general aviation, private aviation and [[Medical evacuation|medivac]] traffic.<ref>{{cite web |url=https://www.isavia.is/english/airports/reykjavik-international-airport/destinations/|title=Destinations|website=www.isavia.is|access-date=14 August 2017|archive-url=https://web.archive.org/web/20170814104152/https://www.isavia.is/english/airports/reykjavik-international-airport/destinations/|archive-date=14 August 2017|url-status=dead}}</ref>

[[Akureyri Airport]] (AEY)<ref>{{cite web |url=https://www.isavia.is/english/airports/akureyri-international-airport |title=Akureyri International Airport |website=www.isavia.is |access-date=14 August 2017 |archive-date=14 August 2017 |archive-url=https://web.archive.org/web/20170814104310/https://www.isavia.is/english/airports/akureyri-international-airport |url-status=live }}</ref> and [[Egilsstaðir Airport]] (EGS)<ref>{{cite web |url=https://www.isavia.is/english/airports/egilsstadir-international-airport |title=Egilsstadir International Airport |website=www.isavia.is |access-date=14 August 2017 |archive-date=14 August 2017 |archive-url=https://web.archive.org/web/20170814105136/https://www.isavia.is/english/airports/egilsstadir-international-airport |url-status=live }}</ref> are two other airports with domestic service and limited international service. Akureyri Airport opened an expanded international terminal in 2024.<ref>{{Cite web |last=Ólafsson |first=Ágúst |date=2024-02-27 |title=Fyrsti hluti nýrrar flugstöðvar á Akureyri tilbúinn - RÚV.is |url=https://www.ruv.is/frettir/innlent/405918 |access-date=2024-03-24 |website=RÚV |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610033731/https://www.ruv.is/frettir/innlent/2024-02-27-fyrsti-hluti-nyrrar-flugstodvar-a-akureyri-tilbuinn-405918 |url-status=live }}</ref> There are a total of 103 registered airports and airfields in Iceland; most of them are unpaved and located in rural areas.

==== Sea ====
[[File:Norröna in Seydisfjördur-pjt.jpg|thumb|upright|Norröna ferry in Seyðisfjorður, bound to the Faroe Islands and Denmark]]
Several ferry services provide regular access to various island communities or shorten travel distances. The [[Smyril Line]] operates the ship [[MS Norröna|Norröna]] providing an international ferry service from [[Seyðisfjörður]] to the [[Faroe Islands]] and [[Denmark]].<ref>{{cite web|url=https://www.mcc.is/transport/ferries/|title=Ferries and boats|publisher=Multicultural Information Centre|access-date=28 March 2022|archive-date=17 May 2022|archive-url=https://web.archive.org/web/20220517180142/https://www.mcc.is/transport/ferries/|url-status=dead}}</ref>

Several companies provide maritime transport services to Iceland, including [[Eimskip]] and Samskip. Iceland's largest ports are managed by Faxaflóahafnir.<ref>{{Cite web |last=Grettisson |first=Valur |date=2024-02-22 |title=Collusion cost Icelanders 63 billion - RÚV.is |url=https://www.ruv.is/english/405568 |access-date=2024-03-24 |website=RÚV |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610033732/https://www.ruv.is/english/2024-02-22-collusion-cost-icelanders-63-billion-405568 |url-status=live }}</ref>

===Energy===
{{see also|Energy in Iceland}}
[[File:NesjavellirPowerPlant edit2.jpg|thumb|The [[Nesjavellir Geothermal Power Station]] services the [[Capital Region (Iceland)|Capital Region]]'s hot water and electricity needs. Virtually all of Iceland's electricity comes from renewable resources.<ref name = "energy">{{cite web |url=http://www.nordicenergysolutions.org/performance-policy/iceland/renewable-energy-in-iceland |title=Renewable energy in Iceland |publisher=Nordic Energy Solutions |access-date=12 February 2010 |archive-date=28 December 2010 |archive-url=https://web.archive.org/web/20101228195210/http://www.nordicenergysolutions.org/performance-policy/iceland/renewable-energy-in-iceland |url-status=dead }}</ref>]]
[[File:Iceland electricity production.svg|thumb|Iceland electricity production by source]]

[[Renewable energy|Renewable sources]]—[[geothermal power|geothermal]] and [[hydropower]]—provide effectively all of Iceland's electricity<ref name = "energy"/> and around 85% of the nation's total primary energy consumption,<ref>{{cite web |url=http://www.askjaenergy.org/iceland-introduction/iceland-energy-sector/ |title=The Energy Sector |publisher=Askja Energy – The Independent Icelandic Energy Portal |date=11 November 2011 |access-date=4 August 2013 |archive-date=8 August 2013 |archive-url=https://web.archive.org/web/20130808085844/http://askjaenergy.org/iceland-introduction/iceland-energy-sector/ |url-status=live }}</ref> with most of the remainder consisting of imported oil products used in transportation and in the fishing fleet.<ref name="statice1">{{cite web |url=http://www.statice.is/Uploads/files/LH06/L060701.xls |title=Gross energy consumption by source 1987–2005 |publisher=statice.is |access-date=10 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20071125021947/http://www.statice.is/Uploads/files/LH06/L060701.xls |archive-date=25 November 2007}}</ref><ref>{{cite web |url=http://www.statice.is/?PageID=1230&src=%2Ftemp_en%2FDialog%2Fvarval.asp%3Fma%3DIDN02101%26ti%3DInstalled+capacity+and+generation+in+public+power+plants+1976-2007+%26path%3D..%2FDatabase%2Fidnadur%2Forkumal%2F%26lang%3D1%26units%3DMegawatt%2FGigawatt%20hour%20%2Fpercent |title=Statistics Iceland&nbsp;– Statistics: Manufacturing and energy Energy |publisher=statice.is |access-date=10 February 2010 |archive-date=18 November 2008 |archive-url=https://web.archive.org/web/20081118185627/http://www.statice.is/?PageID=1230&src=%2Ftemp_en%2FDialog%2Fvarval.asp%3Fma%3DIDN02101%26ti%3DInstalled+capacity+and+generation+in+public+power+plants+1976-2007+%26path%3D..%2FDatabase%2Fidnadur%2Forkumal%2F%26lang%3D1%26units%3DMegawatt%2FGigawatt%20hour%20%2Fpercent |url-status=live }}</ref> Iceland's largest geothermal power plants are [[Hellisheiði Power Station|Hellisheiði]] and [[Nesjavellir Geothermal Power Station|Nesjavellir]],<ref>{{cite web |url=http://www.or.is/English/Projects/HellisheidiGeothermalPlant/ |title=Hellisheiði Geothermal Plant |publisher=Orkuveita Reykjavíkur |access-date=12 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100121165659/http://www.or.is/English/Projects/HellisheidiGeothermalPlant |archive-date=21 January 2010}}</ref><ref>{{cite web |url=http://www.or.is/English/Projects/NesjavellirGeothermalPlant/ |title=Nesjavellir Geothermal Plant |publisher=Orkuveita Reykjavíkur |access-date=12 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100126141447/http://www.or.is/English/Projects/NesjavellirGeothermalPlant/ |archive-date=26 January 2010}}</ref> while [[Kárahnjúkar Hydropower Plant]] is the country's largest hydroelectric power station.<ref>{{cite web |url=http://www.worldenergy.org/documents/20090917__wec_krahnjkar_bb.pdf |title=Kárahnjúkar HEP&nbsp;– WEC Executive Assembly 2009 |publisher=worldenergy.org |access-date=12 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110511094510/http://www.worldenergy.org/documents/20090917__wec_krahnjkar_bb.pdf |archive-date=11 May 2011}}</ref> When the Kárahnjúkavirkjun started operating, Iceland became the world's largest electricity producer per capita.<ref name="largest-electricity"/>

In 2023, [[battery electric vehicle]]s constituted 50.1% of new registrations and around 18% of the country's vehicle fleet was electrified in 2024.<ref>{{Cite web |last=bifreiðaeigenda |first=Félag íslenskra |title=Nýskráningar fólksbíla árið 2023 voru 17.549 |url=https://www.fib.is/is/um-fib/frettir/nyskraningar-folksbila-arid-2023-voru-17549 |access-date=2024-03-24 |website=Félag íslenskra bifreiðaeigenda |language=is |archive-date=24 March 2024 |archive-url=https://web.archive.org/web/20240324011021/https://www.fib.is/is/um-fib/frettir/nyskraningar-folksbila-arid-2023-voru-17549 |url-status=live }}</ref><ref>{{Cite web |title=Orkuskipti — Orkustofnun |url=https://orkustofnun.is/orkuskipti/orkusetur-orkuskipti |access-date=2024-03-24 |website=Orkuskipti — Orkustofnun |language=en |archive-date=24 March 2024 |archive-url=https://web.archive.org/web/20240324011024/https://orkustofnun.is/orkuskipti/orkusetur-orkuskipti |url-status=live }}</ref> Iceland is one of the few countries that have filling stations dispensing hydrogen fuel for cars powered by [[fuel cell]]s.<ref>{{cite news |date=2021-05-22 |title=Vetnisbílar hafa ekki eins greiðan aðgang að orku og aðrir bílar |url=https://www.fib.is/is/um-fib/frettir/vetnisbilar-hafa-ekki-eins-greidan-adgang-ad-orku-og-adrir-bilar |url-status=live |archive-url=https://web.archive.org/web/20220618122218/https://www.fib.is/is/um-fib/frettir/vetnisbilar-hafa-ekki-eins-greidan-adgang-ad-orku-og-adrir-bilar |archive-date=18 June 2022 |access-date=2022-03-28 |website=fib.is |language=is}}</ref>

Despite this, Icelanders emitted 16.9&nbsp;tonnes of CO<sub>2</sub> per capita in 2016, the highest among EFTA and EU members, mainly resulting from transport and [[aluminium smelting]].<ref>{{cite web |url=https://www.statice.is/publications/news-archive/environment/carbon-dioxide-emission-per-capita/ |title=Iceland has the highest per capita CO2 emissions from the economy |publisher=Statistics Iceland |date=November 2018 |access-date=13 May 2019 |archive-url=https://web.archive.org/web/20190513160924/https://www.statice.is/publications/news-archive/environment/carbon-dioxide-emission-per-capita/ |archive-date=13 May 2019 |url-status=dead}}</ref> Nevertheless, in 2010, Iceland was reported by ''Guinness World Records'' as "the Greenest Country", reaching the highest score by the [[Environmental Sustainability Index]], which measures a country's water use, biodiversity and adoption of clean energies, with a score of 93.5/100.<ref>{{cite news |url=http://www.guinnessworldrecords.com/world-records/highest-score-by-the-environmental-sustainability-index-(country) |title=Highest score by the Environmental Sustainability Index (country) |work=Guinness World Records |access-date=1 November 2016 |archive-url=https://web.archive.org/web/20180617105248/http://www.guinnessworldrecords.com/world-records/highest-score-by-the-environmental-sustainability-index-(country) |archive-date=17 June 2018 |url-status=dead}}</ref>

On 22 January 2009, Iceland announced its first round of [[Oil platform|offshore]] licences for companies wanting to conduct [[hydrocarbon exploration]] and production in a region northeast of Iceland, known as the [[Jan Mayen Microcontinent#Economic resources|Dreki area]].<ref>{{cite web|author = Phaedra Friend|url = http://www.rigzone.com/news/article.asp?a_id=71990|title = Iceland Opens First-Ever Offshore Licensing Round|publisher = Rigzone|date = 22 January 2009|access-date = 10 February 2010|archive-date = 20 May 2013|archive-url = https://web.archive.org/web/20130520130609/http://www.rigzone.com/news/article.asp?a_id=71990|url-status = live}}</ref> Three exploration licences were awarded but all were subsequently relinquished.<ref>{{cite web|url=https://askjaenergy.com/2018/01/30/oil-exploration-at-dreki-on-hold/|title=Oil exploration at Dreki on hold|access-date=13 May 2019|publisher=Askja Energy|date=30 January 2018|archive-url=https://web.archive.org/web/20190513162207/https://askjaenergy.com/2018/01/30/oil-exploration-at-dreki-on-hold/|archive-date=13 May 2019|url-status=dead}}</ref>

Iceland's official governmental goal is to cut [[greenhouse gas]] emissions by 40% by the year 2030 and reach [[carbon neutrality]] by the year 2040.<ref>{{cite web |title=Climate Change |url=https://www.government.is/topics/environment-climate-and-nature-protection/climate-change/ |website=Government of Iceland |access-date=26 July 2022 |archive-date=19 August 2022 |archive-url=https://web.archive.org/web/20220819120044/https://www.government.is/topics/environment-climate-and-nature-protection/climate-change/ |url-status=live }}</ref> As a result of its commitment to renewable energy, the 2016 Global Green Economy Index ranked Iceland among the top 10 greenest economies in the world.<ref name="ggei">{{cite web |title=Global Green Economy Index |url=http://dualcitizeninc.com/GGEI-2016.pdf |url-status=dead |archive-url=https://web.archive.org/web/20161003083020/http://dualcitizeninc.com/GGEI-2016.pdf |archive-date=3 October 2016 |access-date=19 September 2016 |publisher=Dual Citizen LLC}}</ref>

===Education and science===
{{see also|Education in Iceland|Science and technology in Iceland}}
[[File:Menntaskólinn í Reykjavík (main building, 2004).jpg|thumb|Reykjavík Junior College ({{lang|is|[[Menntaskólinn í Reykjavík]]}}), located in downtown Reykjavík, is the oldest [[gymnasium (school)|gymnasium]] in Iceland.]]

The [[Ministry of Education, Science and Culture (Iceland)|Ministry of Education, Science and Culture]] is responsible for the policies and methods that schools must use, and they issue the National Curriculum Guidelines. However, playschools, primary schools, and lower secondary schools are funded and administered by the municipalities. The government does allow citizens to [[Homeschooling|home educate]] their children, however, under a very strict set of demands.<ref>{{cite web|url = http://grapevine.is/Author/ReadArticle/Mayor-Does-Not-Feel-School-Should-Be-Mandatory|title = ReadArticle / Mayor Does Not Feel School Should Be Mandatory|publisher = Grapevine.is|date = 25 August 2011|access-date = 22 September 2012|url-status=dead|archive-url = https://web.archive.org/web/20130501135434/http://grapevine.is/Author/ReadArticle/Mayor-Does-Not-Feel-School-Should-Be-Mandatory|archive-date = 1 May 2013|df = dmy-all}}</ref> Students must adhere closely to the government-mandated curriculum, and the parent teaching must acquire a government approved teaching certificate.

Nursery school, or {{lang|is|leikskóli}}, is non-compulsory education for children younger than six years and is the first step in the education system. The current legislation concerning playschools was passed in 1994. They are also responsible for ensuring that the curriculum is suitable to make the transition into compulsory education as easy as possible.<ref>{{cite web|url=https://island.is/en/nursery-schools|title=Nursery schools|website=Ísland.is|access-date=2022-03-28|archive-date=2 March 2022|archive-url=https://web.archive.org/web/20220302125734/https://island.is/en/nursery-schools|url-status=live}}</ref><ref>{{cite web|url=https://www.stjornarradid.is/verkefni/menntamal/leikskolar/|title=Leikskólar|access-date=2022-03-28|publisher=Stjórnarráðið|language=is|archive-date=2 March 2022|archive-url=https://web.archive.org/web/20220302193413/https://www.stjornarradid.is/verkefni/menntamal/leikskolar/|url-status=live}}</ref><ref>{{cite web|url=https://www.althingi.is/lagas/135a/1994078.html|title=Lög um leikskóla|date=1994-05-19|language=is|access-date=2022-03-28|publisher=[[Althing]]|archive-date=20 April 2022|archive-url=https://web.archive.org/web/20220420090025/https://www.althingi.is/lagas/135a/1994078.html|url-status=live}}</ref>

Compulsory education, or {{lang|is|grunnskóli}}, comprises primary and lower secondary education, which often is conducted at the same institution. Education is mandatory by law for children aged from 6 to 16&nbsp;years. The school year lasts nine months, beginning between 21 August and 1 September, and ending between 31 May and 10 June. The minimum number of school days was once 170, but after a new teachers' wage contract, it increased to 180. Lessons take place five days a week. All public schools have mandatory education in Christianity, although an exemption may be considered by the [[Minister of Education, Science and Culture (Iceland)|Minister of Education]].<ref name = "Jonathan Fox">{{Cite book|url = https://books.google.com/books?id=rE0NcgxNaKEC&pg=PA118|author = Fox, Jonathan|title = A World Survey of Religion and the State|series = Cambridge Studies in Social Theory, Religion and Politics|publisher = [[Cambridge University Press]]|quote = All public schools have mandatory education in Christianity. Formally, only the Minister of Education has the power to exempt students from this, but individual schools usually grant informal exemptions.|isbn = 978-0-521-70758-9|year = 2008|access-date = 28 January 2021|archive-date = 10 June 2024|archive-url = https://web.archive.org/web/20240610033732/https://books.google.com/books?id=rE0NcgxNaKEC&pg=PA118|url-status = live}}</ref>

Upper secondary education, or {{lang|is|framhaldsskóli}}, follows lower secondary education. These schools are also known as [[gymnasium (school)|gymnasia]] in English. Though not compulsory, everyone who has had a compulsory education has the right to upper secondary education. This stage of education is governed by the Upper Secondary School Act of 1996. All schools in Iceland are mixed-sex schools. The largest seat of higher education is the [[University of Iceland]], which has its main campus in central Reykjavík. Other schools offering university-level instruction include [[Reykjavík University]], [[University of Akureyri]], [[Agricultural University of Iceland]] and [[Bifröst University]].

An OECD assessment found that 64% of Icelanders aged 25–64 have earned the equivalent of a high-school degree, which is lower than the OECD average of 73%. Among 25- to 34-year-olds, only 69% have earned the equivalent of a high-school degree, significantly lower than the OECD average of 80%.<ref name = "Iceland – OECD Better Life Index"/> Nevertheless, Iceland's education system is considered excellent: the [[Programme for International Student Assessment]] ranks it as the 16th best performing, above the OECD average.<ref>{{cite web|url = http://www.oecd.org/dataoecd/54/12/46643496.pdf|title = What Students Know and Can Do: Student Performance in Reading, Mathematics and Science 2010|publisher = OECD|access-date = 24 April 2012|archive-date = 7 March 2012|archive-url = https://web.archive.org/web/20120307105640/http://www.oecd.org/dataoecd/54/12/46643496.pdf|url-status = live}}</ref> Students were particularly proficient in reading and mathematics.

According to a 2013 [[Eurostat]] report by the [[European Commission]], Iceland spends around 3.11% of its GDP on scientific research and development (R&D), over 1 percentage point higher than the EU average of 2.03%, and has set a target of 4% to reach by 2020.<ref>{{cite web|url=http://ec.europa.eu/research/innovation-union/pdf/state-of-the-union/2012/countries/iceland_2013.pdf |title=Research and innovation in Iceland, country profile |publisher=European Commission |access-date=24 March 2015 }}{{dead link|date=May 2016|fix-attempted=yes}}</ref> Iceland was ranked 17th in the [[Global Innovation Index]] in 2021, up from 20th in 2019.<ref>{{Cite web|title=Global Innovation Index 2021|url=https://www.wipo.int/global_innovation_index/en/2021/|publisher=[[World Intellectual Property Organization]]|access-date=2022-03-05|language=en|archive-date=20 September 2021|archive-url=https://web.archive.org/web/20210920133358/https://www.wipo.int/global_innovation_index/en/2021/|url-status=live}}</ref><ref>{{Cite web|title=Release of the Global Innovation Index 2020: Who Will Finance Innovation?|url=https://www.wipo.int/global_innovation_index/en/2020/index.html|access-date=2021-09-02|publisher=World Intellectual Property Organization|language=en|archive-date=3 June 2021|archive-url=https://web.archive.org/web/20210603121259/https://www.wipo.int/global_innovation_index/en/2020/index.html|url-status=live}}</ref><ref>{{Cite web|title=Global Innovation Index 2019|url=https://www.wipo.int/global_innovation_index/en/2019/index.html|access-date=2021-09-02|publisher=World Intellectual Property Organization|language=en|archive-date=2 September 2021|archive-url=https://web.archive.org/web/20210902101818/https://www.wipo.int/global_innovation_index/en/2019/index.html|url-status=live}}</ref><ref>{{Cite web|title=RTD – Item|url=https://ec.europa.eu/newsroom/rtd/items/691898|access-date=2021-09-02|publisher=European Commission|archive-date=2 September 2021|archive-url=https://web.archive.org/web/20210902140715/https://ec.europa.eu/newsroom/rtd/items/691898|url-status=live}}</ref><ref>{{Cite web|date=2013-10-28|title=Global Innovation Index|url=https://knowledge.insead.edu/entrepreneurship-innovation/global-innovation-index-2930|access-date=2021-09-02|website=INSEAD Knowledge|language=en|archive-date=2 September 2021|archive-url=https://web.archive.org/web/20210902101622/https://knowledge.insead.edu/entrepreneurship-innovation/global-innovation-index-2930|url-status=dead}}</ref> A 2010 [[UNESCO]] report found that out of 72 countries that spend the most on R&D (US$100&nbsp;million or more), Iceland ranked ninth by proportion of GDP, tied with Taiwan, Switzerland, and Germany and ahead of France, the United Kingdom and Canada.<ref>{{cite web|url = http://unesdoc.unesco.org/images/0018/001899/189958E.pdf|title = UNESCO science report, 2010: the current status of science around the world; 2010|access-date = 29 April 2012|archive-date = 1 February 2011|archive-url = https://web.archive.org/web/20110201003622/http://unesdoc.unesco.org/images/0018/001899/189958e.pdf|url-status = live}}</ref>