The Icelandic Economy – Q3 2021

In recent years, the report has been published annually. This year, however, we decided to change course and make it a more concise quarterly report. The last 18 months have taught us that things can change swiftly, increasing the need for up-to-date information.

Like before, the report covers the current situation, recent developments, and future outlook of the economy. This edition has a particular focus on Iceland‘s competitiveness and the recent appreciation of the Icelandic Króna.

Overall, Iceland has been successful in the fight against COVID-19 with vaccinations all but finished while all domestic restrictions have been lifted. Therefore, and because tourism is getting back on its feet, several indicators, including consumer sentiment and card turnover, point to a faster recovery than in most forecasts. However, uncertainty is high, and the number of COVID-19 cases have recently been rising again.

Read the report

The Icelandic economy has undergone drastic changes in recent years and for a small open economy it is important to frequently convey useful information to stakeholders. Therefore, the report is sent to thousands of recipients in business, governmental administration and other organisations around the world, in addition to being freely available online.

The Chamber also offers a presentation for interested parties and printed copies for sale upon request. Please contact Konráð S. Guðjónsson, Chief Economist (konrad@vi.is), for further information.