Gibraltar is about 15,846 times smaller than Iceland.

Iceland is approximately 103,000 sq km, while Gibraltar is approximately 7 sq km, making Gibraltar 0.01% the size of Iceland. Meanwhile, the population of Iceland is ~357,603 people (328,030 fewer people live in Gibraltar).
This to-scale comparison of Iceland vs. Gibraltar uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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