This is a best prospect industry sector for this country. Includes a market overview and trade data.

Overview

Iceland is among the most computer-savvy countries in the world, and demand for the latest computer hardware and off-the-shelf software reflects this.  According to the Global Information Technology Report for 2015, Iceland ranked number 19 of 143 economies in terms of network readiness.  The Icelandic software market is sophisticated, with numerous startups and several established domestic software development companies, and a few global software companies.  Icelandic customers are accomplished IT users and are looking for the latest solutions that will increase customer service, cost savings and enhance business processes.  U.S. products are popular in Iceland.  Information on investment opportunities in the IT industry in Iceland can be found at Invest in Iceland Agency (www.invest.is).
 
 2014201520162017 (Estimated)
Total Local Production    
Total Exports    
Total Imports    
Imports from the US
 		    
Total Market Size    
Exchange Rates    
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

Manufactured hardware, solutions for information management, and applications for increased mobility, e-business, and information security.

Opportunities

Iceland’s green energy resources and cool climate make it attractive for data storage and processing equipment.  There are several data storage facilities in Iceland. Future connectivity capacity to North America will enhance data processing opportunities.

Web Resources

Advania (www.advania.is)   
Apple (www.epli.is)  
Invest in Iceland (www.invest.is)
Microsoft Iceland (https://www.microsoft.com/is-is/)
Nýherji/IBM (www.nyherji.is)  
Opin Kerfi ehf./HP (www.ok.is)
WEF Global Information Technology Report
(http://reports.weforum.org/global-information-technology-report-2015/)
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.