27-June-2017
English
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
19-June-2017
English
19-June-2017
English
Despite a small aid budget, Iceland stands out among donors for its commitment to supporting the poorest countries and using its expertise in areas like renewable energy, land restoration and gender equality for aid programmes that advance global goals, according to a new OECD report.
28-March-2017
English
These country specific notes provide figures and commentary from the Taxation and Skills publication that examines how tax policy can encourage skills development in OECD countries.
6-December-2016
English
This country note presents student performance in science, reading and mathematics, and measures equity in education in Iceland. The interactive charts allow you to compare results with other countries participating in the OECD Programme for International Student Assessment (PISA).
30-November-2016
English
This publication provides detailed country notes on Value Added Tax/Goods and Services Tax (VAT/GST) and excise duty rates in OECD member countries.
30-November-2016
English
These country specifc documents provide figures on tax-to-GDP ratios and tax structures for OECD member countries from the latest OECD Revenue Statistics publication.
30-November-2016
English
This annual publication presents detailed country notes and internationally comparable tax data for all OECD countries from 1965 onwards.
26-September-2016
English, PDF, 512kb
This country note provides an environmental tax and carbon pricing profile for Iceland. It shows environmentally related tax revenues, taxes on energy use and effective carbon rates.
16-September-2016
English
Biographical note of Iceland's Permanent Representative to the OECD.