Key Market Indicators
Iceland's mining and quarrying production is projected to reach €80 million by 2028, up from €70 million in 2023. This represents a steady annual growth rate of 2%. Since 2000, the country's supply in this sector has increased by an average of 4.2% each year. In 2023, Iceland ranked 35th globally in mining and quarrying production, with Cyprus slightly ahead at €70 million. The United Kingdom, Poland, and the Netherlands occupied the second, third, and fourth positions, respectively. Meanwhile, Iceland's revenue from mining and quarrying is expected to decline. Forecasts indicate a drop to €36 million by 2028 from €40 million in 2023, marking an annual decrease of 1.8%. Since 2019, the market has seen a yearly reduction of 5.5%. In the revenue rankings for 2023, Iceland held the 31st position, with Cyprus surpassing it at €40 million. The leading countries in this ranking were the United Kingdom, Germany, and Poland, coming in second, third, and fourth, respectively.