Iceland GDP Growth Rate  1997-2017 | Data | Chart | Calendar | Forecast

Iceland's gross domestic product advanced by 4.7 percent on quarter in the three months to September 2016, following a downwardly revised 1.7 percent growth in the previous period. It was the strongest reading since the first quarter of 2004, mainly boosted by a sharp rise in exports (+4.2 percent from +3.5 percent in Q2) while imports contracted (-2.2 percent from +3.8 percent in Q2). Also, household consumption expanded by 0.5 percent (+1.7 percent in Q2), fixed investment grew by 2.1 percent (+5 percent in Q2) and public spending advanced by 0.3 percent (+0.7 percent in Q2). Compared with the same quarter of the previous year, the economy expanded by 10.2 percent. GDP Growth Rate in Iceland averaged 0.83 percent from 1997 until 2016, reaching an all time high of 6.20 percent in the second quarter of 1998 and a record low of -8.90 percent in the first quarter of 2009.

Iceland GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-07 09:00 AM Q1 -0.5% -1.1% 0.5% 1.4%
2016-09-09 09:00 AM Q2 2.1% 0.8% 1.8%
2016-12-07 09:00 AM Q3 4.7% 1.7% 0.9%
2017-03-09 09:00 AM Q4 4.7% 1.1%
2017-06-08 09:00 AM Q1 0.9%
2017-09-08 09:00 AM Q2 0.8%




Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 4.70 1.70 6.20 -8.90 percent [+]
GDP Annual Growth Rate 10.20 3.80 13.40 -9.30 percent [+]
GDP 16.60 17.04 21.29 0.25 USD Billion [+]
GDP Constant Prices 340852.00 326042.00 340852.00 180870.00 ISK Million [+]
Gross National Product 1232150.00 1133236.00 1232150.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 67396.00 66795.00 109738.00 30531.00 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 [+]



Iceland GDP Growth Rate Notes

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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.70 1.70 6.20 -8.90 1997 - 2016 percent Quarterly
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