NEWS RELEASE ENTERPRISES 19 MARCH 2019

The total turnover of enterprises in activities that are subject to VAT, excluding the pharmaceutical industry, amounted to 4,536 billion ISK in 2018, which is an increase of 7.9% compared with 2017. The turnover in November to December 2018 was 808 billion ISK, an increase of 5.7% compared with the same period in 2017.

Turnover according to VAT-reports (billion ISK)
  Nov.-Dec. 2017 Nov.-Dec. 2018 % 2017 2018 %
Total excluding the pharmaceutical industry¹ 764 808 5.7 4,204 4,536 7.9
Agricultur and forstry² 24 ... ... 50 ... ...
A-03/C-102 Fishing, aquaculture; fish processing 55 62 13.0 323 358 10.7
C-24 Manufacture of basic metals 38 42 10.3 222 254 14.4
C Manufacturing; excluding fish processing,pharmaceutical industry and man 80 85 5.7 411 431 4.9
D/E Electricity, gas;water supply; sewerage and waste management 31 35 10.6 170 188 10.5
F/B Construction, mining and quarrying 62 69 11.2 323 357 10.3
G-45 Wholesale and retail trade and repair of motor vehicles and motorcycles 28 22 -19.2 174 162 -6.9
G-46171/G-46172/G-46381 Wholesale of fish and fish markets 33 38 16.2 194 226 16.4
G-4671 Wholesale of fuels 19 18 -3.0 124 128 3.6
G-46 Other wholesale 63 68 7.9 345 366 6.2
G-47 Retail trade 88 93 5.5 454 478 5.4
H Transportation and storage 71 66 -6.4 460 493 7.2
I Accommodation and food service activities 27 29 5.6 191 197 3.4
J Information and communication 39 45 14.2 198 223 12.7
N-7711 Renting and leasing of cars and light motor vehicles 8 8 0.1 51 52 2.3
N-79 Travel agency, tour operator reservation service and related activities 13 16 18.8 102 112 9.7
Foreign enterprices selling e-services to households in Iceland 2 2 3.7 7 9 23.2
Other fields of activity 83 87 5.1 404 451 11.6
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, and have longer reporting deadlines. Reliable data on VAT-turnover during the later half of 2017 in agriculture is not yet available.

Revision of statistics
At the time of our previous press release, in January, the VAT turnover, excluding the pharmaceutical industry, in September to October 2018 was estimated 788.1 billion ISK which was an increase of 8.5% compared with the same period in 2017. At present, more data are available and the VAT turnover in September to October 2018 is estimated 789.5 billion ISK, an increase of 6.4% 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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