Record Number of Businesses Go Bust in Iceland Skip to content

Record Number of Businesses Go Bust in Iceland

More companies were taken into bankruptcy proceedings in Iceland in 2010 than over any other one-year period in the past two decades at least. According to Statistics Iceland, 982 companies went under the hammer last year.

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Reykjavík’s financial district. Copyright: Icelandic Photo Agency.

Almost twice as many companies went bankrupt last month as compared to March 2010, 208 compared to 107. At the same time, 178 new limited companies were registered, 14 more companies than in March 2010, ruv.is reports.

In other economic news, the annual inflation is currently at 2.8 percent, according to Statistics Iceland. The consumer price index (CPI) increased by 0.78 percent between March and April, as stated on ruv.is.

In the past three months the CPI has increased by 2.9 percent which equals an inflation of 12.3 percent per year. When the annual inflation was last measured, on March 29, it was 2.3 percent.

Click here to read other recent economic news.

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