GDP in Iceland

Iceland GDP | Economic News & Forecasts

Iceland - GDP

The economy likely remained in a frail state at the end of 2019, after plunging exports of goods and services caused the economy to contract slightly in the third quarter. The number of tourist arrivals shrank in annual terms through the fourth quarter, albeit at a softer pace than in the third quarter. Persistent weakness in the tourism sector was in part responsible for rising unemployment in the period, which, coupled with downbeat consumer sentiment, suggests household spending was subdued in Q4. Exacerbating matters, the total fish catch—a major Icelandic export—fell by over 15% year-on-year in volume terms in Q4. On a more positive note, fiscal stimulus measures and more accommodative monetary conditions should be helping to prop up domestic demand.

Iceland - GDP Data

2014   2015   2016   2017   2018  
Economic Growth (GDP, annual variation in %)2.1  4.7  6.6  4.6  4.6  

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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

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

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