GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

The 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

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)4.3  2.2  4.3  7.5  3.6  

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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 Yield4.00-0.99 %Jun 20
Exchange Rate125.3-0.52 %Jun 20
Stock Market1,458-0.32 %Jun 20

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