Iceland is about 4 times smaller than Paraguay.

Paraguay is approximately 406,752 sq km, while Iceland is approximately 103,000 sq km, making Iceland 25.32% the size of Paraguay. Meanwhile, the population of Paraguay is ~7.4 million people (7.0 million fewer people live in Iceland).
This to-scale comparison of Paraguay vs. Iceland uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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