GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

The 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

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)1.2  4.4  1.9  4.1  7.2  

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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

ValueChangeDate
Bond Yield5.551.15 %Sep 21
Exchange Rate107.5-0.46 %Sep 21
Stock Market1,248-2.40 %Sep 21

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