GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

A booming tourism sector, strong fixed investment growth and low unemployment fueled the fastest economic expansion in nearly a decade in 2016. Stepping out from the long shadow of the financial crisis, on 12 March the government lifted the last remaining controls on capital outflows first implemented in 2008. In coordination with the government, the Central Bank simultaneously announced the purchase of ISK 90 billion (USD 811 million) of offshore krona assets to preempt any ensuing monetary instability. In an effort to discourage inflows of hot money, the Bank also introduced special reserve requirements. Meanwhile, the government is looking at proposals to create a more stable exchange rate, including a possible peg to the euro.

Iceland - GDP Data

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)-6.9  -3.6  2.0  1.2  4.4  

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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 Yield4.960.37 %Apr 06
Exchange Rate112.70.17 %Apr 06
Stock Market1,310-0.59 %Apr 06

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