Iceland - Consumer Goods and EntertainmentIceland - Consumer Goods

Overview

The majority of Icelandic households are dual-income, and there is demand for labor-saving devices and the latest gadgets.  This market is likely to remain attractive on both a category and niche basis regardless of economic conditions.

	2014	2015	2016	2017 (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

Electrical appliances, computer software, computer hardware, gaming products, and music products.

Opportunities

American consumer products are popular in Iceland.  There are numerous examples of U.S. products that have a higher market penetration per capita in Iceland than anywhere else in Europe, such as breakfast cereals.  The market for U.S. entertainment products remains bright, and exposure to American entertainment products appears to spur demand for other U.S. goods and services.  American music and movies have always played a major role in Icelandic culture. Computer games from the United States likewise have a strong fan base in Iceland.  Some companies, however, have limited their opportunity to reach the Icelandic market by failing to accept Icelandic credit cards and/or ship internationally.

Web Resources

Icelandic Trade Federation (http://www.atvinnurekendur.is/english/)
 

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