New South Wales (Australia) is 7.8 times larger than Iceland.
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
New South Wales (abbreviated as NSW), is Australia's most populous state, and is located in the south-east of the country, north of Victoria, south of Queensland, east of South Australia, west of Jervis Bay Territory and encompasses the whole of the Australian Capital Territory. Wikipedia