Iceland is about 2.6 times smaller than New Zealand.

New Zealand is approximately 268,838 sq km, while Iceland is approximately 103,000 sq km, making Iceland 38.31% the size of New Zealand. Meanwhile, the population of New Zealand is ~5.1 million people (4.7 million fewer people live in Iceland).
This to-scale comparison of New Zealand vs. Iceland uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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