GDP in Iceland
Iceland - GDPIceland’s economy performed strongly again last year, with GDP growth jumping over 10.0% in Q3. Growth in activity was supported by a buoyant external sector, which was in turn helped by a booming tourism industry. Earlier this month, Iceland’s political parties reached an agreement to form a government following months of stalled talks. The center-right coalition, led by the Independence Party with two junior partners, holds a slim majority in Parliament. Shortly after taking office, the new administration announced important reforms to boost growth. As part of a long-term plan to rein in public debt, measures will be taken to restrain public expenditure, increase productivity and privatize public properties, with a particular focus on state-owned commercial banks. Moreover, the government intends to create a countercyclical stability fund to control the proceeds from the country’s energy resources.
Iceland - GDP Data
|Economic Growth (GDP, annual variation in %)||2.0||1.3||4.4||2.0||4.0|
5 years of economic forecasts for more than 30 economic indicators.
Note: Annual variation of gross domestic product (GDP) in %.
Iceland GDP Chart
Source: Statistics Iceland and FocusEconomics calculations.
|Bond Yield||4.98||-1.25 %||Feb 16|
|Exchange Rate||110.2||-1.06 %||Feb 16|
|Stock Market||1,287||0.27 %||Feb 16|
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