GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

The economy rebounded sharply in Q2, growing 7.3%—the fastest rate in nearly four years—and contrasting the 0.2% contraction clocked in Q1. A strong acceleration in private consumption growth spearheaded the upturn, while a sharp rebound in fixed investment and robust public spending growth also bolstered the overall reading. Turning to Q3, demand dynamics have likely continued to improve, as evidenced by double-digit growth in both merchandise exports and imports during July–August. Moreover, tourist arrivals grew strongly in the same period, while the unemployment rate fell to an 18-month low in August, likely bolstering private consumption in the quarter. In politics, the country’s ruling coalition retained its majority in the parliamentary elections held on 26 September, with talks between the three associated parties set to take place over the coming weeks to form a government.

Iceland - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)4.7  6.6  4.5  3.8  1.9  

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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

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

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