North America
Central & South America
Europe
Africa
Asia & Middle East
Southeast Asia & Oceania
Iceland Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
343,518 (July 2018 est.)GDP (PPP)
$18.2 billion (2017 est.)Strongly hit by the 2008 crisis. In recent years achieved high growth, low unemployment, and a equal distribution of income
GDP growth rate
4.0% (2017 est.)High level considering it is a high developed country
GDP (PPP) per capita
$52,200 (2017 est.)Among the highest in the world. Equal distribution among the population.
Local currency
Icelandic Króna (ISK)One of smallest country to have its own currency and monetary policy
Financial stability (Public debt)
40.0% (2017 est.)Low level. It was strongly hitted by the financial crisis of 2008 due to the high exposure of local banks. New regulations has been made, but the country is not risk free.
Inflation
1.8% (2017 est.)Quite stable in the last 5 years
Language
IcelandicEnglish is widely spoken
Corruption perception index (Source: Transparency International)
14/180Very low level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
24% standard VAT rateCorporate Tax
20% standard corporate income taxDuties
Whether you are looking for a European importer or you are just interested in Europe business, Globartis is the right platform for you!
We have a strong position in Europe B2B and Europe trade. If you are interested in doing business in Iceland, or in finding Icelandic manufacturing companies, we can help you.
Companies in Iceland and Icelandic SMEs use Globartis for their operations. Join our network today and find the right partner for your Iceland business.
Connect with an Icelandic manufacturer or Iceland importer, or source among Iceland export to find the right product. Join now and grow your business in Reykjavík.