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.
Basic Details | |
| Region | Western Europe |
| Capital City | Reykjavík |
| Government Type | parliamentary representative democratic republic |
| Official Languages | Icelandic |
| Currency | Icelandic krona, ISK |
| Phone Code | +354 |
| Important Cities | Reykjavík, Kópavogur, Hafnarfjörður, Akureyri, Reykjanesbær, Garðabær, Mosfellsbær, Selfoss, Akranes, Seltjarnarnes, Vestmannaeyjar, Grindavík, Ísafjörður, Álftanes, Sauðárkrókur, Hveragerði, Egilsstaðir, Húsavík |
| National Day | Independence Day (Jun-17) |
Economy | |
| Ease of Doing Business Ranking | 26 |
| Primary Industries | Tourism,Manufacturing,Aluminium,Fisheries,Finance,Banks,Stock market |
| Major Exports | Fish and crustaceans, molluscs, Aluminium and articles thereof, Aircraft, spacecraft, Iron and steel, Machinery, mechanical appliances, nuclear reactors, boilers, Residues and waste from the food industries, prepared animal fodder, Optical, photographic, cinematographic, measuring, checking, precision, Preparations of meat, of fish or of crustaceans, molluscs, Animal or vegetable fats and oils, Mineral fuels, mineral oils , Ships, boats and floating structures, Commodities not elsewhere specified |
| Major Exports to India | Inorganic chemicals, organic or inorganic compounds of precious metals, Mineral fuels, mineral oils , Iron and steel, Other made-up textile articles, sets, worn clothing and worn textile articles, rags, Articles of apparel and clothing accessories, knitted or crocheted, Electrical machinery and equipment , Wadding, felt and nonwovens, special yarns, twine, cordage, ropes and cables and articles thereof, Vehicles other than railway or tramway rolling stock, Machinery, mechanical appliances, nuclear reactors, boilers, Articles of leather, saddlery and harness, travel goods, |
| Major Imports | Mineral fuels, mineral oils , Machinery, mechanical appliances, nuclear reactors, boilers, Inorganic chemicals, organic or inorganic compounds of precious metals, Vehicles other than railway or tramway rolling stock, Furniture, bedding, mattresses, mattress supports, cushions , Plastics and articles thereof, Articles of iron or steel, Pharmaceutical products, Ships, boats and floating structures, Optical, photographic, cinematographic, measuring, checking, precision, |
| Major Imports from India | Iron and steel, Animal or vegetable fats and oils, Inorganic chemicals, organic or inorganic compounds, Raw hides and skins, Optical, photographic, cinematographic, measuring, checking, precision, Works of art, collectors' pieces and antiques, Meat and edible meat offal, Mineral fuels, mineral oils , Machinery, mechanical appliances, nuclear reactors, boilers, Pharmaceutical products, Fish and crustaceans, molluscs , Electrical machinery and equipment |
Foreign Relations | |
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| Trade Agreements with India | Iceland 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. |
| Bordering Nations | Greenland, 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) |
| Indian Embassy Details for Iceland | H.E. B Shyam Honourable Ambassador Embassy of India Tungata - 7,101 Reykjavik Iceland Email: hoc.reykjavik@mea.gov.in Phone: 354-5349955, 5349957 Website: https://indianembassyreykjavik.gov.in/ |
| Embassy Details of Iceland in India | H.E. Mr. Gudni Bragason Ambassador Embassy of Iceland 33 B, Dr. S radhakrishna MargChanakyapuriNew Delhi 110021 Email: icemb.newdelhi@utn.stjr.is Phone: +91-11-43530300 (O) |
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