Iceland is 2.7 times larger than Bhutan.
Area: 38,394 km2 World Factbook
Population: 733,643 (July 2014) World Factbook
Bhutan, officially the Kingdom of Bhutan, is a landlocked country in South Asia located at the eastern end of the Himalayas. It is bordered to the north by China and to the south, east and west by India. Wikipedia
Area: 103,000 km2 World Factbook
Population: 317,351 (July 2014) World Factbook
Iceland is a Nordic country between the North Atlantic and the Arctic Ocean. It has a population of 325,671 and an area of 103,000 km², making it the most sparsely populated country in Europe. Wikipedia