The Icelandic Economy: An Overview

The Icelandic economy has undergone drastic changes since the financial crisis in 2008. This report provides an overview of the current state of the economy, recent developments, and future prospects.

Click here to view the report (in PDF format)

The report is split into three sections. The first part details the current economic landscape in Iceland, both for the domestic economy and external trade. The second part covers recent developments and notable events in Iceland‘s political, economic and business environment. Lastly, the third part outlines Iceland‘s future prospects with regards to the economy‘s external obligations and long-term growth prospects.

The following topics are covered in the report:

• Iceland‘s ranking in terms of GDP, economic growth and various competitiveness indicators
• Labour market developements since the financial crisis
• Public and private debt levels and the post-crisis deleveraging phase
• Monetary policy, inflation and exchange rate developments since the financial crisis
• International trade in relation to external debt and exports composition
• Policy changes made by the new government, including EU negotiation developments
• The effects of the capital controls on households, firms and pension funds
• Major ongoing and prospective investment projects
• The banking system, access to credit and asset market developments
• Iceland‘s long-term growth prospects

Click here to view the report (in PDF format)

The Iceland Chamber of Commerce has since October 2008 regularily published reports in English with overview of the Icelandic economy. It is sent to 2,200 recipients in business, governmental administration and other organisations around the world, but is also freely available to everyone on the Chamber‘s website.

Additionally the Chamber publishes a presentation to accompany the report. A presentation for the new edition of the report will be published in the beginning og August. To receive materials regarding the presentation and future editions of the report please subscribe to the Chamber's mailing list.