Iceland: Business freedom

* indicates monthly or quarterly data series
 Iceland

Business freedom index (0-100)

 Latest value 83
 Year 2023
 Measure points
 Data availability 1997 - 2023
 Average 86
 Min - Max 70 - 95
 Source The Heritage Foundation
For that indicator, we provide data for Iceland from 1997 to 2023. The average value for Iceland during that period was 86 points with a minimum of 70 points in 1997 and a maximum of 95 points in 2006. The latest value from 2023 is 83 points. For comparison, the world average in 2023 based on 179 countries is 60 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Iceland - Business freedom - recent values

Historical chart
Iceland - Business freedom - historical chart - 1997-2023




The Business Freedom index for Iceland from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Iceland in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).


 Related indicators Latest value Reference Measure
 Property rights 97 2023 points
 Freedom from corruption 84 2023 points
 Fiscal freedom 29 2023 points
 Business freedom 83 2023 points
 Labor freedom 68 2023 points
 Monetary freedom 77.40 2023 points
 Trade freedom 80 2023 points
 Investment freedom 80 2023 points
 Financial freedom 70 2023 points
 Economic freedom, overall index 72 2023 index points
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