No, they are not very similar.Chrischrill wrote: If these road signs are correct, you can base your Icelandic signs on Sweden to a great extent. They look so similar.
One of the reasons is that, that Sweden uses "Tratex" font, but Iceland uses the same font, as UK ("Transport"). Fonts in Sweden and Iceland are different.
And also directions signs are different, and some other nuances.
I think, there need MandelSoft's help to look at these signs, as he knows better about signs. ...and maybe make some icelandic signs prototypes, if necessary.
And Chrischrill, did you know that fact, that Greece also uses signs, similar to swedish one (I mean, signs with yellow background), but there also have some nuances of differences.