Export industries

Long-term strategy for Icelandic export industries

Long-term strategy for Icelandic export industries

In 2019, Business Iceland worked on a long-term strategy for Icelandic export industries to benefit the economy on behalf of the government. Approximately 400 people participated in the drafting of this strategy directly through 13 workshops held throughout the country and with representatives of Iceland’s leading export industries. 

Icelandic lighthouse

Future strategy planning

In the new Business Iceland Act, enacted in 2018, the agency was tasked with formulating a long-term strategy for increasing export income. The strategy should stipulate the focus of Iceland’s marketing efforts in foreign markets, select market areas, and define measurable goals to assess performance.

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Icelandic fishing harbor

Export and marketing

The Business Iceland act provides for an export and marketing council composed of 31 representatives. The council’s role is to define, approve and monitor the implementation of the long-term strategy of the government and economy for marketing and export.

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Status of performance criteria

According to the Business Iceland Act, the long-term strategy must form the main objectives of the marketing work that Business Iceland carries out in foreign markets. The strategy must include objectives and priorities in individual market areas and respective sectors and have measurable performance goals.

Green: Development in accordance with criteria
Yellow: Stagnation and uncertainty that criteria will be met
Red: Regression and status below criteria

View the status of performance criteria (Icelandic)

Long term strategy for Icelandic export industries