GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

Following last year’s growth surge, the economy has cooled substantially with growth of 5.0% year-on-year in Q1, down from Q4’s 11.3%, as the last remaining crisis-era capital controls were dismantled. The moderation is largely owing to slower export and investment growth. While the slowdown has abated fears of overheating, a persistent boom in the tourism sector and elevated demand for Icelandic assets have sustained a rapid appreciation in the krona and kept inflation below the Central Bank’s target. In a bid to reign in the currency’s wild surge, the government is weighing measures to peg the krona to the euro and announced an increase in the VAT on tourism-related services, in effect from July 2018.

Iceland - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)2.0  1.2  4.4  1.9  4.1  

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Iceland GDP Chart

Iceland GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Statistics Iceland and FocusEconomics calculations.

Iceland Facts

Bond Yield4.720.0 %Jul 18
Exchange Rate105.82.14 %Jul 18
Stock Market1,358-0.40 %Jul 18

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