Iceland - Macroeconomic Outlook Report

Iceland - Macroeconomic Outlook Report

Summary

Financial intermediation, real estate and business activities contributed 25.5% to the gross value added (GVA) in 2023, followed by the mining, manufacturing and utilities with 14.6%, and wholesale, retail and hotels with 11.9%. According to GlobalData estimates, the three sectors are expected to grow by 6.2%, 6.4% and 8.0%, respectively, in 2024.

Reykjavik contributed 57.6% of Iceland’s GDP and was home to 60.8% of the country’s population as of 2023

ICEXI index exhibited a downward trend over the past year. As of February 21, 2024, the index stood at 2,275.0, compared to 2,393.2 on February 21, 2023.

Scope

According to the World Bank, Logistics Performance Index (2023), Iceland ranked 26th out of 139 nations in 2023

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.