There were 200 new registrations of private limited companies in December 2016. New registrations increased by 13% in 2016, compared with the previous year. There were 2,666 new registrations during the year, compared with 2,368 in 2015. The greatest proportional increase in new registrations was in Administrative and support service activities, from 176 to 272, or a 55% increase from the previous year. Also of note is an increase from 46 to 60 in Transportation and storage (30%). There was a 5% decrease in new registrations during the period in Accommodation and food service activities (from 169 to 161).

Looking at new registrations in 2016 by region, the greatest proportional increase was in the East, where new registrations went from 52 in 2015 to 71 in 2016 (37%). There was an increase in new registrations for all regions between 2015 and 2016, except for the Northwest, where the number stayed the same between years (32 new registrations in each year).

There were 29 corporate insolvencies registered in December 2016. Corporate insolvencies increased by 75% in 2016, compared with the previous year. There were 1,027 corporate insolvencies during the year, compared with 588 in 2015. It should be noted that due to a lawyer strike between April and December 2015, it is possible that a part of the insolvencies registered in 2016 actually took place in 2015, though it is not known how big a part this has in the increase in insolvencies between 2015 and 2016. The greatest proportional increase in insolvencies during 2016 was from 33 to 94 in Financial and insurance activities (185%); in Information and communication, from 28 to 63 (125%); and in Professional, scientific and technical activities, from 46 to 98 (113%). There was an increase in the number of insolvencies for all major industries during the period. The smallest increase was in Transportation and storage, where it went from 18 to 22 (22%).

Looking at corporate insolvencies in 2016 by region, there was a considerable increase in insolvencies in the Capital Region (from 426 to 877; 106%), in the West (from 16 to 34; 113%), and in the Westfjords (from 5 to 13; 160%), whereas there was a decrease in insolvencies in the Southwest (from 49 to 27; 45%), in the East (from 11 to 8; 27%), and in the South (from 63 to 47; 25%).

New registration and insolvencies
  December   January–December  
  2015 2016 % 2015 2016 %
New registration            
Total 222 200 -10 2,368 2,666 13
A Agriculture, forestry and fishing 9 2 -78 87 92 6
C Manufacturing 4 9 125 91 104 14
F Construction 32 23 -28 292 346 18
G Wholesale and retail trade; repair of motor vehicles and motorcycles 13 16 23 272 274 1
H Transportation and storage 4 3 -25 46 60 30
I Accommodation and food service activities 18 9 -50 169 161 -5
J Information and communication 13 6 -54 171 195 14
K Financial and insurance activities 45 46 2 357 372 4
L Real estate activities 27 37 37 352 414 18
M Professional, scientific and technical activities 23 24 4 223 235 5
N Administrative and support service activities 19 17 -11 176 272 55
Other activities 15 8 -47 132 141 7
             
Insolvencies            
Total 18 29 61 588 1,027 75
A Agriculture, forestry and fishing 0 1 - 21 29 38
C Manufacturing 1 0 -100 39 55 41
F Construction 2 5 150 121 179 48
G Wholesale and retail trade; repair of motor vehicles and motorcycles 6 6 0 106 203 92
H Transportation and storage 0 0 - 18 22 22
I Accommodation and food service activities 1 1 0 41 59 44
J Information and communication 0 0 - 28 63 125
K Financial and insurance activities 2 3 50 33 94 185
L Real estate activities 2 3 50 74 103 39
M Professional, scientific and technical activities 3 4 33 46 98 113
N Adminstrative and support service activities 0 4 - 30 58 93
Other activities 1 2 100 31 64 106

Statistics:
  New registration
  Insolvencies