This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 2/18/2019

Overview

The majority of Icelandic households are dual-income, and there is demand for labor-saving devices and the latest gadgets.  This market is likely to remain attractive on both a category and niche basis regardless of economic conditions.
 2014201520162017 (Estimated)
Total Local Production    
Total Exports    
Total Imports    
Imports from the US
 
    
Total Market Size    
Exchange Rates    
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

Electrical appliances, computer software, computer hardware, gaming products, and music products.

Opportunities

American consumer products are popular in Iceland.  There are numerous examples of U.S. products that have a higher market penetration per capita in Iceland than anywhere else in Europe, such as breakfast cereals.  The market for U.S. entertainment products remains bright, and exposure to American entertainment products appears to spur demand for other U.S. goods and services.  American music and movies have always played a major role in Icelandic culture. Computer games from the United States likewise have a strong fan base in Iceland.  Some companies, however, have limited their opportunity to reach the Icelandic market by failing to accept Icelandic credit cards and/or ship internationally.

Web Resources

Icelandic Trade Federation (http://www.atvinnurekendur.is/english/)
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



Iceland Consumer Goods Trade Development and Promotion