Iceland Tenders

Get access to latest Iceland tenders and bids. Find business opportunities and business intelligence from public and private procurement in Iceland. Find international bid invitations and information about tenders, bids, procurement, RFPs, RFQs, ICBs and detailed analysis across all sectors from Iceland.

The economy of Iceland is small and subject to high volatility. In 2011, gross domestic product was US$12 billion, but by 2018 it had increased to a nominal GDP of US$27 billion. With a population of 350,000, this is $55,000 per capita, based on purchasing power parity (PPP) estimates. The financial crisis of 2007–2010 produced a decline in GDP and employment that has since been reversed entirely by a recovery aided by a tourism boom starting in 2010. Tourism accounted for more than 10% of Iceland's GDP in 2017. After a period of robust growth, Iceland's economy is slowing down according to an economic outlook for the years 2018–2020 published by Arion Research in April 2018. Iceland has a mixed economy with high levels of free trade and government intervention. However, government consumption is less than other Nordic countries. Hydro-power is the primary source of home and industrial electrical supply in Iceland.