There were 588 new registrations of private limited companies in the 4th quarter of 2017, a 2% decrease from the same quarter last year. A total of 272 corporate insolvencies were registered in the 4th quarter, 14% more than in the 4th quarter of the previous year.

New registrations of private limited companies in 2017 were 2,577, which is a 3% decrease from the previous year. There was a 23% decrease in Administrative and support service activities, where there were 272 new registrations, compared with 209 in 2016, and a 39% decrease in Agriculture, forestry and fishing (from 92 to 56). The greatest proportional increase in new registrations was in Construction, from 346 to 417, which was a 21% increase.

Looking at new registrations in 2017 by region, the bulk of the decrease between years was in the Capital region, where the number went from 2,019 to 1,926 between years (5% decrease), whereas the number of new registrations outside the Capital region was close to the same between years (went from 652 to 654).

The number of insolvencies in 2017 was 747, which is a 27% decrease from 2016. The greatest decrease was from 94 to 48 in Financial and insurance activities (49%), and from 203 to 237 in Wholesale and retail trade, repair of motor vehicles and motorcycles (33%). There was a general decrease of insolvencies between years across the range of industries, with the exception of Transportation and storage, where there was an increase from 22 to 28 (27%).

Looking at insolvencies in 2017 by regions, the bulk of the decrease between years was in the Capital area (from 877 to 594; 33%), whereas there was a slight increase of insolvencies (3%) when excluding the Capital region (from 149 to 154).

From now on, Statistics Iceland will only publish announcements regarding new registrations and corporate insolvencies on an annual basis. Statistics on new registrations and corporate insolvencies by field of activity will still be updated monthly.

Statistics