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Iceland PESTLE Insights - A Macroeconomic Outlook Report

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    Country Profile

  • 46 Pages
  • January 2023
  • Region: Iceland
  • GlobalData
  • ID: 4396674
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 publisher 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.

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.

Table of Contents

  • Did You Know?
  • Country Highlights
  • Economy’s Recovery from COVID-19 Crisis
  • Country Snapshot
  • Political Landscape
  • Economic Landscape
  • Social Landscape
  • Technological Landscape
  • Legal Landscape
  • Environmental Landscape
  • Outlook
List of Figures
  • Exhibit 1: Iceland’s performance in terms of its country risk analysis in comparison to West Europe and the World average
  • Exhibit 2: Performance overview (score: 1-100)
  • Exhibit 3: Broad categories and weights behind the index
  • Exhibit 4: ICEXI index (December 2021 - December 2022)
  • Exhibit 5: Exchange rate, daily basis (December 2021 - December 2022)
  • Exhibit 6: Key sectors’ contribution to the economy
  • Exhibit 7: FDI inflows to Iceland, FDI outflows from Iceland, and FDI inward stock, FDI outward stock (2017-21)
  • Exhibit 8: Value and number of Greenfield FDI projects in Iceland and of net cross border M&As purchases in Iceland (2017-21)
  • Exhibit 9: Key infrastructure indicators
  • Exhibit 10: Real GDP and household consumption growth rate (2017-24f)
  • Exhibit 11: Real GDP growth rate comparison (2021)
  • Exhibit 12: Export, import and trade balance (2017-24f)
  • Exhibit 13: Current account balance (2017-24f)
  • Exhibit 14: Top three commodity exports, % of total exports (2017-21)
  • Exhibit 15: Aluminium and articles thereof, % of total exports (2021)
  • Exhibit 17: Exchange rate and inflation (2017-2024f)
  • Exhibit 18: Public finance (2017-24f)
  • Exhibit 19: General government debt (2017-24f)
  • Exhibit 20: Unemployment rate (2017-24ff)
  • Exhibit 21: Average annual wages (2017-24f)
  • Exhibit 22: Labor cost index (2017-24f)
  • Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025)
  • Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)
  • Exhibit 25: Gender split (1995, 2005, 2015, 2025)
  • Exhibit 26: Internet users % of total population, mobile penetration rate and broadband penetration rate (2020)
  • Exhibit 27: Number of patents granted per million population (2020)
  • Exhibit 28: High-technology exports (% of manufactured exports) (2020)
  • Exhibit 29: Doing business in Iceland (2021)
  • Exhibit 30: Corruption perceptions index (rankings) (2021)
  • Exhibit 31: CO2 emissions (2017-21)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Frisk
  • Icelandair
  • OSSUR