there are about 150 plant species on the island, along with 80 types of insects. the waters around the island have some of the north atlantic's richest fishing grounds. the two main commercially used fish in iceland, the cod and haddock, are found in great amounts near the island. other types of fish near the islands include flatfish, herring, capelin, lobsters and ocean perch. seals, small types of whales and other marine species are also present in large numbers around the islands.