Essay On Iceland - 1116 Words

Iceland, being a pretty small country, relies a lot on importation of goods. To import to Iceland there are a few required documents which the Icelandic Directorate of Customs (2017) lays out on their website: An invoice, a bill of lading or a transport document issued in connection with the transport of the goods; however, when there is submitted a bill covering freight charges or a notice from the transporter to the consignee concerning a consignment of goods, and these documents contain the same information as specified in regular bills of lading, a bill of lading need not be submitted unless specially requested, a bill covering freight charges, a certificate of origin when preferential customs treatment is requested in accordance with†¦show more content†¦Another potential big barrier for the economy is the moving in of large foreign companies such as the clothing retailer HM, and the warehouse style membership based Costco. As Iceland deals with new competition and a recovering economy, the labor force has gone through some big changes. The labor force has risen to a high of 196,500 people in 2016 and participation in the job market has risen to 83%, both of which could be at tributed to the recently booming tourism industry (Iceland Chamber of Commerce, 2017). A large portion of Iceland’s domestic economy comes from things like tourism, IT and communication, and other things that do not really require packaging and handling, however, the fishing sector is very dependent on effective packaging and handling. Valka is a company in Iceland that develops and provides technology and equipment for the fishing industry. Their equipment can cover the whole process of grading and batching, trimming, cutting and portioning, and packaging the fish as well as use software to manage the entire order and production process (Valka, 2017). Most of the country and its population is near water, so sophisticated trucks and other transportation modes aren’t really as important for the domestic side of packaging and handling, but the farther away the fish is shipped the more advanced and complex the solutions need to be. The domestic channels are fairly simple due to the relatively small country and the evenShow MoreRelatedThe Financial Crisis in Iceland Essay607 Words   |  3 PagesIceland is a small European Country. Its currency is Krona, ISK. The 2008-2009 Icelandic financial crisis was the major economic and political event in the Iceland. It had been worst financial crisis ever experienced by a small country. Sharp turn in 2007-2008 ISK dropped 24% against Euro from Nov 2007 to June 2008. 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