Exports in Iceland

Iceland Exports | Economic News & Forecasts

Iceland - Exports

Although annual GDP growth slowed in the final quarter of 2021, underlying momentum improved strongly with the economy expanding in sequential terms. Conditions should have strengthened further at the outset of 2022, aided by the complete removal of Covid-19 restrictions in late February. This, coupled with a lower unemployment rate in Q1, should have benefited household spending. Additionally, the external sector and the all-important tourism industry—around 5% of GDP in 2021—should have contributed to a solid economic performance in Q1, with robust growth in merchandise exports and total hotel stays. That said, consumer sentiment gradually declined in the quarter, falling to 14-month low in March amid a continued buildup of price pressures through April, when inflation hit a level not seen in over a decade, likely tempering the overall improvement.

Iceland - Exports Data

2015   2016   2017   2018   2019  
Exports (USD billion)4.7  4.4  5.1  5.7  5.2  

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Iceland Exports Chart

Iceland Exports
Note: Exports in USD billion.
Source: Statistics Iceland.

Iceland Facts

Value Change Date
Bond Yield3.45-0.99 %Dec 31
Exchange Rate121.1-0.52 %Jan 01

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