Key Market Indicators
Iceland's manufacturing output is projected to hit €10.4 billion by 2028, up from €9.3 billion in 2023, according to recent data. This represents an average annual growth rate of 1.8%. Since 2000, Iceland's supply has seen a notable increase, averaging a 6.6% rise each year. In 2023, Iceland ranked 30th globally in manufacturing output, trailing just behind Latvia, which also recorded €9.3 billion. The leading positions in this ranking were held by Italy, France, and Spain, occupying the second, third, and fourth spots, respectively.
