• Capital city: Reykjavík
• Total area: 103 125 km2
• Population: 0,31 million
• Currency: Icelandic Krona

Iceland is situated in Northern Europe. It is a rather island country located in the North Atlantic sea between the British Isles and Greenland sea, and just south of the Arctic Circle. In contrast to its many glaciers, Iceland has about 200 volcanoes and numerous geysers.

The population density is only of 3 people per km2, making it then the least densely populated countries in Europe. 92 % of the population lives in urban areas. Foreigners account for 6 % of the population. Iceland is not part of the European Union but has adopted the Schengen Convention.

Iceland has a market economy with an extensive welfare system (including generous housing subsidies) and a low unemployment rate. In the absence of natural resources (except for abundant geothermal power), the economy depends heavily on the fishing industry, which provides 70% of export earnings and employs up to 8% of the work force. The economy has been diversifying into manufacturing and service industries in the last decade. Besides new developments in software production, biotechnology and financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism and whale watching.

Iceland is a constitutional republic and comprises height regions. The president, largely a ceremonial post, is elected by popular vote for a four-year term. Legislative power is exercised by an unicameral Parliament of 63 seats whose members are elected by popular vote to serve four-year terms. The prime minister is usually the leader of the majority party or the leader of the majority coalition. He appoints the Ministers, who are to be approved by the Parliament.