Iceland PESTLE Insights - A Macroeconomic Outlook Report

Iceland PESTLE Insights - A Macroeconomic Outlook Report

Summary

Financial intermediation, real estate and business activities contributed 25.6% to the gross value added (GVA) in 2021, followed by the mining, manufacturing and utilities with 14.6%, and wholesale, retail and hotels with 11.4%. According to GlobalData estimates, the three sectors grew by 12.9%, 9.7% and 9.1%, respectively, in 2022.

Reykjavik contributed 58.4% of Iceland’s GDP and was home to 60.5% of the country’s population as of 2021

ICEXI index exhibited a downward trend over last year. As of December 21, 2022, the index stood at 2,114.6, compared to 2,563.4 on December 21, 2021.

Scope

• 1100sqm terminal expansion at Akureyri airport with a cost of ISK810.5 million ($6.5 million) to be completed by August 2023.

• 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.