2018Centenary of Icelandic Independence and Sovereignty - First Day Cover single stamp

2018 marks a centenary since Iceland became a free and sovereign state in the community of nations. The process of sovereignty negotiations concluded with a treaty on July 18, 1918, stipulating that Denmark be formally in charge of Iceland‘s international affairs while Iceland was granted full powers of decision in judicial affairs. The Supreme Court of Iceland was founded in 1919. On June 16, 1944, Althing abolished the Act of Union and a new constitution took effect the next day. The declaration of Iceland‘s sovereignty in 1918 was followed by an era of great progress. International relations were an important factor – young people sought education abroad bringing knowledge and skills back home. Iceland has enjoyed drastic changes of fortune over the last 100 years. The population has tripled, from about 91.000 to about 346.000 inhabitants. Fishing limits were extended in four phases from 3 nautical miles to 200 miles. In 1918 around 80% of the population lived in rural areas but in early 2018 around 64% of the population resided in the metropolitan areas while 36% resided in rural areas.