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Iceland News

Iceland owns a Scandinavian-type economy with a capitalist base. Iceland's use of its natural resources has been central to its economic success. The country has achieved a high standard of living and many years of economic stability from the profits of its fish and energy resources. The fishing industry dominates Iceland economy, with approximately 70% of its export. Fish and fish products, aluminum, animal products, ferrosilicon, and diatomite are the main exports; machinery and equipment, petroleum products, foodstuffs, textiles, and manufactured goods are imported. Iceland trading partners are Germany, Great Britain, the United States, and the Netherlands.

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