Business and Trade

Historically, Iceland has depended heavily on the fishing industry which provides annually more than 12% of it's total GDP, and employs around 7% of the work force. Although the country is therefore sensitive to declining fish stocks as well as fluctutations in world prices, the diversification of the country into aluminium, ferrosilicon, software production, biotechnology, and tourism means that the economy of the country has a more diverse source of income than ever before.

General economic activity is well functional and many Icelandic businesses remain strong and prosperous. With its low tax structure, high education levels and competitive costs for skilled labour, land and electricity, Iceland is a strong candidate for businesses to short-list when seeking new locations for international operations.