Growth and Business Development in Iceland

Iceland can be called a volcanic island rather than a country and headed north in the Atlantic Ocean east of Greenland and south of the Arctic Circle. About 79 percent of the total land in Iceland is covered by glaciers, lakes, deserts wash their mountainous land and others. It is still the largest part of exports of Iceland; is only about 10 percent of gross domestic product. The economy of Iceland is growing due to the growth of sectors such as I.T sector, tourism and banking and financial sector.

As noted above, fishery products are the main products exported from Iceland. Other important exported things include aluminum, silicon iron alloy, equipment and electronics for fishing and the process of fishing and pharmaceuticals. Most things exported from Iceland goes to EU [European Union] and EFTA [European Free Trade]. Note that so far the United States is the largest foreign investor in Iceland and is also the largest service provider, such as financial services and movies of the franchise / TV shows, music, tourism , etc. The agricultural sector of Iceland is very subsidized and very good staff.

Iceland has very less mineral energy resources. The wide availability of hydroelectric and geothermal energy provides more than 90 percent of the population for electricity and heating to get some relief in cold weather and cold of Iceland. The Karahnjukar is the largest hydroelectric plant in Iceland supplying more than 690 megawatts. The other plants are Burfell station [capacity of 270 megawatts], Hrauneyjarfoss [capacity of 210 megawatts], and Sigalda Blanda [150 megawatts]. Similarly, the aluminum industry is also on the rise in Iceland. Nordural aluminum plant is the largest aluminum plant which is owned by Century Aluminum Company of California. if Iceland has no railways. The road building process officially began in 1900 AD. The total length of roads in Iceland is 13000 kilometers [8125 miles] and paved roads are 4330 kilometers [2706 miles]. Regular flights and ships and ferries connect all major cities with the capital Reykjavik.

The national airline of Iceland, Icelandair connects this country to all major European cities and also in North America. Iceland became a member of EFTA [European Free Trade] in 1970 and signed an agreement with the European Union in 1973, which stated that Iceland is a member of the Free Trade European Community.

Load disqus comments

0 komentar