GDP in Iceland
Iceland - GDPThe economy looks set to plummet in the second quarter, after a likely battering in the first quarter. As in Q1, a sharp downturn in the pivotal tourism and fishing sectors will lead Q2’s tumble. In late March, WOW Air collapsed, while Icelandair continues to be plagued by the grounding of Boeing’s 737 MAX. Against this backdrop, tourist arrivals fell by nearly a fifth in April—the largest contraction on record—and airport traffic fell by more than a quarter; and the woes of the tourism sector seem set to drag on well into this quarter and beyond. Meanwhile, fishing vessels again failed to find any capelin—an economically important fish for the sector—in April, severely slashing the total catch volume for the month and weighing on exports in turn.
Iceland - GDP Data
|Economic Growth (GDP, annual variation in %)||4.3||2.2||4.3||7.5||3.6|
5 years of economic forecasts for more than 30 economic indicators.
Iceland GDP Chart
Source: Statistics Iceland and FocusEconomics calculations.
|Bond Yield||4.00||-0.99 %||Jun 20|
|Exchange Rate||125.3||-0.52 %||Jun 20|
|Stock Market||1,458||-0.32 %||Jun 20|
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