Key Market Indicators
Iceland's freight volume is projected to reach 1.29 billion tonne-kilometers by 2028, up from 1.2 billion tonne-kilometers in 2023. This marks an annual growth rate of 1.1%. Since 2006, Iceland's freight supply has seen a modest annual increase of 0.3%. In 2023, Iceland ranked 30th globally, with Estonia narrowly ahead at 1.2 billion tonne-kilometers. Leading the rankings were Kazakhstan, Germany, and Poland in second, third, and fourth places, respectively. In terms of revenue, Iceland's freight sector is expected to achieve €185 million by 2028, rising from €172 million in 2023. This also reflects an annual growth rate of 1.1%. Since 2019, the Icelandic market has experienced a more robust annual growth rate of 4.9%. In 2023, Iceland was positioned 30th in revenue rankings, with Cyprus slightly ahead at €172 million. France, Poland, and Germany held the second, third, and fourth spots in this category, respectively.
