Iceland


  • 27-June-2017

    English

    OECD Economic Surveys: Iceland 2017

    Iceland is the OECD's fastest growing economy. It has made a remarkable turnaround from the crisis, helped by booming tourism, prudent economic policies and a favourable external environment. Iceland has an egalitarian society with strong trade unions, very low inequality and high gender balance. Nevertheless, as a very small open economy Iceland is prone to boom and bust cycles. Prudent fiscal and monetary policy are warranted in the current economic boom.

    The spectacular growth in tourist numbers has provided new jobs, boosted tax revenues and attracted currency inflows, but there are some growing pains with social pressures emerging. Growing tourist numbers are putting pressure on the environment, infrastructure and housing. Furthermore, the strengthening króna has created difficulties for other internationally-exposed sectors.

    Iceland is the most highly unionised OECD country and the wage-bargaining system has contributed to high living standards and an inclusive society. Nevertheless, recent disruptive strikes and high wage awards have intensified inflationary pressures and threaten competiveness. Fostering trust among the social partners and increasing wage coordination would make collective bargaining more effective and help sustain the benefits of the system for future generations.

    SPECIAL FEATURES: SUSTAINABLE TOURISM; EFFECTIVE LABOUR RELATIONS
     

  • 17-March-2017

    English, PDF, 99kb

    Going for Growth 2017 - Iceland

    This country note from Going for Growth 2017 for Iceland identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.

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  • 1-September-2015

    English

    Economic Survey of Iceland 2015

    Iceland has steadily recovered from the financial crisis. Key challenges to ensuring sustained growth and high levels of wellbeing include consolidating macroeconomic stability, locking in progress in fiscal policy and lifting productivity growth.

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  • 1-September-2015

    English

    Iceland’s recovery is solid, but challenges remain for sustainable growth

    Iceland has steadily recovered from the global financial crisis, with economic activity above pre-crisis levels and a number of other visible signs of normalisation, including falling unemployment, improved public finances and stronger household finances.

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  • 9-February-2015

    English, PDF, 97kb

    Going for growth 2015 - Iceland

    This country note from Going for Growth 2015 for Iceland identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.

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  • 27-February-2013

    English

    A clean energy economy - Lessons from Iceland

    In his speech to OECD Ambassadors, the President of Iceland discussed how Iceland could offer lessons on the nature of a clean energy economy; and presented some insights from Iceland's recent challenges in dealing with the financial crisis.

  • 24-February-2012

    English

    Economic Policy Reforms: Going for Growth 2012: Country Notes

    Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.

  • 20-September-2011

    English

    ICELAND: Ensuring a sustainable and efficient fishery

    Provided that Iceland is able to negotiate to maintain the authority to set TACs and to keep the ITQ system, joining the EU, and hence the Common Fisheries Policy (CFP), should not reduce the efficiency of the Icelandic fisheries management system.

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  • 10-March-2010

    English, , 113kb

  • 19-November-2009

    English

    Key economic projections by country

    Economic forecasts for GDP, unemployment, inflation and fiscal balance.

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