flag_icelandThe Republic of Iceland is a European island country located in the North Atlantic Ocean. Located on the Mid-Atlantic Ridge, Iceland is volcanically and geologically active on a large scale; this defines the landscape.

In the 20th century, Iceland’s economy and welfare system developed quickly, and in recent decades the nation has implemented free trade in the European Economic Area, diversifying from fishing to new economic fields in services, finance and various industries. Iceland is a free market economy with relatively low taxes.

In recent years, Iceland has been one of the wealthiest and most developed nations in the world. In 2007, it was ranked as the most developed country in the world by the United Nations’ Human Development Index and the fourth most productive country per capita.

Iceland’s economy has been diversifying into manufacturing and service industries in the last decade, including software production, biotechnology, and financial services.

Population: 319,756 (2009)
Official language: Icelandic
Official currency: Icelandic Krona (ISK)
Top-level domain: .is



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