Iceland GDP Annual Growth Rate  1998-2016 | Data | Chart | Calendar

The GDP in Iceland advanced 3.7 percent year-on-year in the second quarter of 2016, slowing from an upwardly revised 4.4 percent growth in the previous quarter. Net trade contributed negatively as exports slowed (4.9 percent compared to 5.8 percent in Q1) while imports increased more (16.7 percent compared to 15.5 percent in Q1). On the positive side, faster growth was reported for: private consumption (8.2 percent compared to 7.1 percent in Q1), government spending (1.1 percent compared to 0.1 percent in Q1) and gross fixed capital formation (31.2 percent compared to 27.7 percent in Q1). On a quarterly basis, the economy expanded 2.1 percent, following a 0.8 percent increase in Q1. GDP Annual Growth Rate in Iceland averaged 3.15 percent from 1998 until 2016, reaching an all time high of 13.40 percent in the first quarter of 1999 and a record low of -9.30 percent in the fourth quarter of 2009.

Iceland GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-10 09:00 AM Q4 3.2% 2.0% 3.9%
2016-06-07 09:00 AM Q1 4.2% 3.2% 4.9% 3.7%
2016-09-09 09:00 AM Q2 3.7% 4.4% 3.8%
2016-12-07 09:00 AM Q3 3.7% 4%
2017-03-10 09:00 AM Q4
2017-06-07 09:00 AM Q1




Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.10 0.80 6.20 -8.90 percent [+]
GDP Annual Growth Rate 3.70 4.40 13.40 -9.30 percent [+]
GDP 16.60 17.04 21.29 0.25 USD Billion [+]
GDP Constant Prices 326042.00 319254.00 326042.00 180870.00 ISK Million [+]
Gross National Product 1232150.00 1133236.00 1232150.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 66795.00 63403.00 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 Annual Growth Rate Notes

Iceland's economy depends heavily on the fishing industry, which provides 40 percent of export earnings, more than 12 percent of GDP, and employs nearly 5 percent of the work force. Its economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of software production, biotechnology, and tourism. 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 Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.70 4.40 13.40 -9.30 1998 - 2016 percent Quarterly
NSA



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