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About Iceland

Iceland is a Nordic Island Country part of the Scandinavian region of Europe. The country is famous for Volcanic and Geological activity.

The Country is more of a market economy with very low taxation rules. The country is known to be the world’s largest electricity producer with both hydroelectric and geothermal power generation abilities. The country also depends on fisheries (whaling) and good deposits of aluminum.

Country Facts


Basic Details
RegionNordic Region
Capital CityReykjavík
Government TypeParliamentary Republic
Official LanguagesIcelandic
CurrencyIcelandic krona, ISK
Phone Code +354
Important CitiesReykjavík, Kópavogur, Hafnarfjörður, Akureyri, Reykjanesbær, Garðabær, Mosfellsbær, Selfoss, Akranes, Seltjarnarnes, Vestmannaeyjar, Grindavík, Ísafjörður, Álftanes, Sauðárkrókur, Hveragerði, Egilsstaðir, Húsavík
National DayNational Day (Jun-17)
GDP (nominal)USD 30.57 Billion
Ease of Doing Business Ranking26
Primary IndustriesTourism,Manufacturing,Aluminium,Fisheries,Finance,Banks,Stock market
Foreign Relations
Bordering NationsGreenland, Faroe Islands, Norway, Sweden, Scotland, United Kingdom, Ireland
Member of(Members of the Nordic Council), ( European Free Trade Association), ( NATO), ( Council of Europe), ( United Nations)
Major ExportsFisheries, Sea Food & Crustaceans, Mining, Metals & Minerals, Food & Beverages, Spirits & Vinegar, Edible Oils & Seeds, Instruments & Optical Solutions, Animal Meat and Food Preperations, Chemical Products, Machinery & Appliances, Electrical Products, Other Products, Pharmaceutical Products, Plastics and Products, Aviation Vehicles, Dairy, Eggs, Honey, & Edible Products, Cereals & Pulses
Major ImportsMining, Metals & Minerals, Automobiles, Vehicles & Components, Electrical Products, Machinery & Appliances, Chemical Products, Instruments & Optical Solutions, Household Items & Products, Wood and Pulp, Food & Beverages, Spirits & Vinegar, Fashion and Apparel, Fisheries, Sea Food & Crustaceans, Books and Papers, Marine Vessels
Total Exports ValueUSD 7.424 Billion
Total Imports ValueUSD 9.764 Billion
Foreign Trade BalanceUSD 2.34 Billion (Deficit)
Foreign Relations with India
Trade Agreements with IndiaIceland exported goods to India amounting to US $1.14 million in 2007. The main item of export were fish products, primarily cod, amounting to 77% of the total exports. Other items included industrial goods and medical products. India exported US$18.95 million worth of goods to Iceland in the same year, in which consumer goods were the largest with 52.5% of total exports, followed by raw materials at 37.8%. The trade between the two countries is still considered limited, but with growth potential. By 2007, total bilateral trade was US$26.7 million of which imports from India were US$25.1 million and exports to India were US$1.6 million.
Major Exports to IndiaEdible Oils & Seeds, Instruments & Optical Solutions, Mining, Metals & Minerals, Pharmaceutical Products, Electrical Products, Machinery & Appliances, Art and Antiques, Silk & Textiles, Cereals & Pulses, Chemical Products, Plastics and Products, Rubber and Products, Hides, Leather & Tannery, Wood and Pulp, Books and Papers
Major Imports from IndiaMining, Metals & Minerals, Fashion and Apparel, Silk & Textiles, Electrical Products, Hides, Leather & Tannery, Cosmetics and Accessories, Pharmaceutical Products, Rubber and Products, Chemical Products, Machinery & Appliances, Household Items & Products, Automobiles, Vehicles & Components, Fisheries, Sea Food & Crustaceans, Plastics and Products, Cereals & Pulses, Edible Oils & Seeds
India's Imports ValueUSD 4.95 Million
India's Exports ValueUSD 10.41 Million
Trade Balance with IndiaUSD 5.46 Million (Deficit)
Indian Embassy Details for IcelandEmbassy of India

Honourable Ambassador
Tungata - 7,101 Reykjavik Iceland
354-5349955, 5349957

Embassy Details of Iceland in IndiaIceland
Embassy of Iceland
H.E. Mr. Gudni Bragason
33 B, Dr. S radhakrishna MargChanakyapuriNew Delhi 110021
+91-11-43530300 (O)

Honorary Consulate of Iceland in Mumbai
H.E. Mr. Gul Rupchand Kripalani
Honorary Consul
7 Elysium Mansion, Walton Road Colaba Causeway Mumbai 400001
022856161/22886688 (O)

Honorary Consulate of Iceland in Kolkata
H.E. Mr. Sharad Varma
Honorary Consul
B.Ghose and Co. Pvt. Ltd., 19/1, Camac Street, Kolkata-700017
+91-33-66527200 (O)

Honorary Consulate of Iceland in Chennai
H.E. Mr. Kumaran Sitaraman
Honorary Consul
29, Developed Industrial Estate Perungudi Chennai - 600096
044-24988201 (O)