Iceland In-depth PESTLE Insights

This PESTLE country analysis report on Iceland provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis.

Synopsis

• Understand the political system in Iceland through analysis of key figures in the country and governance indicators.

• Understand the economic situation in Iceland through a balanced assessment of core macroeconomic issues.

• Understand customer demographics in Iceland through analysis of income distribution and the rural-urban split, as well as healthcare and education.

• Understand the technological landscape in Iceland through analysis of relevant laws and policies, as well as patents data.

• Understand the legal landscape in Iceland through analysis of the judicial system as well as performance of the legal indicators

• Understand the environmental landscape in Iceland through analysis of the environmental regulations and the performance of the environmental indicators

Scope

– The political landscape section discusses the evolution of the political scenario in Iceland, as well as the country's economic, social, foreign, and defense policies. The section also discusses the country's performance according to World Bank Governance Indicators.

– The economic landscape section outlines the evolution of Iceland 's economy, as well as the country's performance in terms of GDP growth, composition by sector (agriculture, industry, and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector, and employment."

– The social landscape section analyzes the government's social welfare policies, as well as the country's performance in terms of healthcare, income distribution, and education.

Reasons to buy

What is the outlook in Iceland in terms of political stability, policies towards business, and the popularity of the government?

How does Iceland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment?

How does Iceland perform in terms of healthcare, income distribution, and education?

How does Iceland perform in terms of technology-intensive sectors like IT, life sciences, and R&D expenditure trends?

How does Iceland maintain a robust legal framework that protects property rights and fosters a conducive business environment?

How does Iceland prioritize sustainability with green initiatives, renewable energy promotion, and international collaboration on environmental challenges?

Table of Contents

Overview

Catalyst

Summary

Key findings

PESTLE highlights

Key macroeconomic updates

Key economic updates

Key fundamentals

Impact of US tariff on the Icelandic economy

Key facts and geographical location

Key facts

Geographic location

PESTLE Analysis

Summary

Political analysis

Overview

Current strengths

Current challenges

Future prospects

Future risks

Economic Analysis

Overview

Current strengths

Current challenges

Growing trade deficit

Future prospects

Future risks

Social analysis

Overview

Current strengths

Current challenges

Future Prospects

Future risks

Technological analysis

Overview

Current strengths

Current challenges

Future prospects

Future risks

Legal analysis

Overview

Current strengths

Current challenges

Future prospects

Future risks

Environmental analysis

Overview

Current strengths

Current challenges

Future prospects

Future risks

Political Landscape

Summary

Evolution

Evolution

Structure and policies

Key political figures

Structure of government

Legislative branch

Judicial branch

Provincial governments

Key political parties

Composition of government

Key policies

Performance

Governance indicators

Outlook

Economic Landscape

Summary

Evolution

Structure and policies

Financial system overview

Stock exchange

Performance

GDP and growth rate

GDP composition by sector

Agriculture

Industry

Services

Fiscal situation

Current account

Foreign trade

International investment position

Monetary situation: key monetary indicators

Interest rate

Employment

Outlook

Social Landscape

Summary

Evolution

Structure and policies

Demographic composition

Age and gender composition

Religious composition

Education

Healthcare

Social welfare

Performance

Healthcare

Outlook

Technological Landscape

Summary

Evolution

Structure and policies

Intellectual property

Research and development

Performance

Opportunity sectors

Outlook

Legal Landscape

Summary

Evolution

Structure and policies

Supreme Court

District courts

Tax regulations

Performance

Outlook

Environmental Landscape

Summary

Evolution

Structure and policies

Environmental regulations

Natural resources management and pollution reduction

Environmental impact

Outlook

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List of Tables

Table 1: Key fundamentals, 2022–29f

Table 2: Key Facts, 2025

Table 3: Analysis of Political Landscape

Table 4: Analysis of Economic Landscape

Table 5: Analysis of Social Landscape

Table 6: Analysis of Technological Landscape

Table 7: Analysis of Legal Landscape

Table 8: Analysis of Environmental Landscape

Table 9: Population by Gender (% of Total Population), 2024

Table 10: Patents granted by the USPTO, 2019–23

List of Figures

Figure 1: Key Economic Indicators Trend

Figure 2: Map of Iceland, 2025

Figure 3: Regulatory Quality (Percentile Rank, 0–100), 2023

Figure 4: Employment Rate (%), Q4 2024

Figure 5: Iceland – Female Labor Participation Rate (%), 2024

Figure 6: Tax Wedge (% of Labor Cost), 2024

Figure 7: Iceland – FDI Restrictiveness Index, 2023

Figure 8: Share of Energy from Renewable Sources (%), 2023

Figure 9: Timeline of Key Political Events

Figure 10: Key Political Figures

Figure 11: Distribution of Seats by Party in the Parliament, November 2024

Figure 12: Iceland – GDP growth (%), 2014–24

Figure 13: Iceland – FME’s organizational chart

Figure 14: Iceland – ICEXI Index, June 2024–June 2025

Figure 15: Iceland – Real GDP and Real GDP Growth Rate ($ billion/%), 2020–29f

Figure 16: Iceland – Sector-specific GDP (%), 2024

Figure 17: Iceland – Agricultural Output (ISK billion/%), 2020–25f

Figure 18: Iceland – Industry Output (ISK billion/%), 2020–25f

Figure 19: Iceland – Services Output (ISK billion/%), 2020–25f

Figure 20: Iceland – Growth in Volume of Exports and Imports (%), 2020–29f

Figure 21: Iceland – Consumer Price Index and CPI–based Inflation (Index/%), 2020–29f

Figure 22: Iceland – Unemployment Rate (%), 2020–29f

Figure 23: Iceland – Major Religions (%), 2024

Figure 24: Iceland – Total Government Healthcare Expenditure ($ Billion/% of GDP), 2020–24

Figure 25: Iceland – Public Expenditure on Education ($ Billion/% of GDP), 2020–24

Figure 26: Iceland – Internet Users (000’s/% of Total Population), 2020–25f

Figure 27: Iceland – Carbon Dioxide Emissions (Million Tonnes/%), 2013–23

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