Iceland GDP Growth Rate  1997-2016 | Data | Chart | Calendar | Forecast

Iceland's economy contracted 0.5 percent on quarter in the first three months of 2016, following a 1.1 percent drop in the previous period. Government spending fell 0.1 percent (+0.5 percent in Q4), gross fixed capital formation grew at a slower pace (+4.4 percent from +5.2 percent in Q4), exports shrank (-0.5 percent from +2.5 percent in Q4) and imports recorded a smaller growth (+5.5 percent from +8.3 percent in Q4). In contrast, household consumption remained robust and grew 1.8 percent, the same as in the previous period. Year-on-year the GDP advanced 4.2 percent, higher than a 3.2 percent rise in the previous quarter. GDP Growth Rate in Iceland averaged 0.77 percent from 1997 until 2016, reaching an all time high of 9.60 percent in the second quarter of 1998 and a record low of -7.60 percent in the first quarter of 2009. GDP Growth Rate in Iceland is reported by the Statistics Iceland.

Iceland GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -1.10 9.60 -7.60 1997 - 2016 percent Quarterly
SA
Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system, including generous housing subsidies. The economy is highly affected by fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. On the expenditure side, household consumption is the main component of GDP and accounts for 53 percent of its total use, followed by government expenditure (24 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 54 percent of GDP while imports account for 47 percent, adding 7 percent of total GDP. This page provides - Iceland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-08 09:20 AM Q3 0.7% 3.7% 4% 1.03%
2016-03-10 09:00 AM Q4 -1.1% 1.2% 0.9%
2016-06-07 09:00 AM Q1 -0.5% -1.1% 0.5% 1.4%
2016-09-09 09:00 AM Q2 -0.5% 1.8%
2016-12-07 09:00 AM Q3 0.9%

Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.50 -1.10 9.60 -7.60 percent [+]
GDP Annual Growth Rate 4.20 3.20 13.60 -7.20 percent [+]
GDP 16.60 17.04 21.29 0.25 USD Billion [+]
GDP Constant Prices 321647.00 323142.00 326791.00 182018.00 ISK Million [+]
Gross National Product 1232150.00 1133236.00 1232150.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 61884.00 59302.00 109547.00 30713.00 ISK Million [+]
GDP per capita 45411.04 44141.07 45556.86 11465.04 USD [+]
GDP per capita PPP 42449.19 41262.04 42585.49 27021.00 USD [+]




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Mexico 0.80 Mar/16
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Spain 0.80 Mar/16
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Denmark 0.70 Mar/16
Germany 0.70 Mar/16
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South Korea 0.70 Jun/16
Canada 0.60 Mar/16
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Euro Area 0.60 Mar/16
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Sweden 0.50 Mar/16
Czech Republic 0.40 Mar/16
Israel 0.40 Mar/16
Tunisia 0.40 Mar/16
Italy 0.30 Mar/16
Malta 0.30 Mar/16
Belgium 0.20 Mar/16
Colombia 0.20 Mar/16
Portugal 0.20 Mar/16
Jamaica 0.10 Dec/15
Latvia 0.10 Mar/16
Switzerland 0.10 Mar/16
Uruguay 0.10 Mar/16
Cameroon 0.05 Dec/15
Estonia 0.00 Mar/16
Peru 0.00 Mar/16
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Hong Kong -0.40 Mar/16
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Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Argentina -0.70 Mar/16
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
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Kenya -1.40 Mar/16
Namibia -1.60 Mar/16
Ecuador -1.90 Mar/16
Ireland -2.10 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16