GDP in Iceland
Iceland - GDPThe economy is poised to grow robustly this year on the back of the tourism sector, private consumption and fixed investment. However, it isn’t all smooth sailing: Fears over tourism are surfacing, and the fishing industry’s output has lagged due to strikes and the strength of the krona. Tourism, the biggest industry, is affecting housing and rental prices, and the overall cost of living, as prices for staple goods rise due to significantly increased demand. Moreover, the IMF commented in a recent staff visit that, although the economy is on a firmer footing, risks of overheating are a clear concern, and the Central Bank governor stated that the pace of growth has become slightly worrisome. While the strong krona hurts fisheries, it also makes tourism pricier for foreign visitors which should lead to lower prices by reducing demand.
Iceland - GDP Data
|Economic Growth (GDP, annual variation in %)||1.2||4.4||1.9||4.1||7.2|
5 years of economic forecasts for more than 30 economic indicators.
Iceland GDP Chart
Source: Statistics Iceland and FocusEconomics calculations.
|Bond Yield||5.55||1.15 %||Sep 21|
|Exchange Rate||107.5||-0.46 %||Sep 21|
|Stock Market||1,248||-2.40 %||Sep 21|
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