Key Market Indicators
Iceland's IT services export is on a steady rise, with projections indicating it will reach approximately €2.1 billion by 2028. This marks a significant increase from around €1.6 billion in 2023, reflecting an average annual growth rate of 4.4%. Since the turn of the millennium, Iceland's supply in this sector has consistently grown at an average annual rate of 5.9%. However, in 2023, the nation ranked 29th globally, with Latvia surpassing it at the €1.6 billion mark. In the same year, France, the United Kingdom, and Italy held the second, third, and fourth positions, respectively, in the IT services export rankings.
