NEWS RELEASE ENTERPRISES 14 MAY 2019

The total turnover of enterprises in activities that are subject to VAT, excluding the pharmaceutical industry, amounted to 4,594 billion ISK in the twelve month period of March 2018 to February 2019, which is an increase of 7.4% compared with the preceding twelve months. The turnover in January to February 2019 was 673 billion ISK, an increase of 8.5% compared with the same period in 2018.

Turnover according to VAT-reports (billion ISK)
  Jan.-Feb. 2018 Jan.-Feb. 2019 % March 2017-Feb. 2018 March 2018-Feb. 2019 %
Total excluding the pharmaceutical industry¹ 620 673 8.5 4,276 4,594 7.4
Agricultur and forstry² 2 2 ... 50 51 1.8
A-03/C-102 Fishing, aquaculture; fish processing 50 67 34.7 342 375 9.9
C-24 Manufacture of basic metals 41 43 5.5 228 256 12.6
C Manufacturing; excluding fish processing,pharmaceutical industry and man 59 62 5.9 411 436 6.0
D/E Electricity, gas;water supply; sewerage and waste management 30 32 5.9 172 189 9.9
F/B Construction, mining and quarrying 43 47 9.0 329 361 9.7
G-45 Wholesale and retail trade and repair of motor vehicles and motorcycles 24 22-7.8 176 161-8.6
G-46171/G-46172/G-46381 Wholesale of fish and fish markets 31 44 39.6 202 240 18.6
G-4671 Wholesale of fuels 16 17 10.8 124 130 4.8
G-46 Other wholesale 53 58 9.8 348 373 7.1
G-47 Retail trade 66 70 6.5 458 481 5.0
H Transportation and storage 65 59-9.7 469 488 3.9
I Accommodation and food service activities 24 24-0.6 192 197 2.6
J Information and communication 32 35 9.2 200 227 13.2
N-7711 Renting and leasing of cars and light motor vehicles 6 6-4.7 52 51-1.0
N-79 Travel agency, tour operator reservation service and related activities 13 15 12.2 103 114 10.9
Foreign enterprices selling e-services to households in Iceland 1 2 26.6 7 9 20.4
Other fields of activity 63 67 6.8 412 456 10.5
¹ For the time being, VAT-turnover is pubished excluding the pharmaceutical industry. Data validation is ongoing.
² Many farmers report VAT biannually, in accordance with paragraph 31 of the VAT-laws.

Revision of statistics
At the time of our previous press release, in March, the VAT turnover, excluding the pharmaceutical industry, in November to December 2018 was estimated 807.6 billion ISK which was an increase of 5.7% compared with the same period in 2017. At present, more data are available and the VAT turnover in November to December 2018 is estimated 812.2 billion ISK, an increase of 6.3% compared with the same period in 2017.

Other statistics on business economy
Statistics Iceland publishes annual income and balance statements of enterprises by activity, based on tax returns, providing a detailed picture of the individual sectors. Statistics

The tourism industry

All economic activities

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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