Iceland GDP Annual Growth Rate  1998-2017 | Data | Chart | Calendar

The economy of Iceland expanded 11.3 percent year-on-year in the last three months of 2016, following a downwardly revised 9.6 percent rise in the previous period. It is the highest growth rate since the last quarter of 2007, boosted by rising household spending (7.2 percent compared to 5.7 percent in Q3) while a slowdown was recorded for gross fixed capital formation (18.6 percent compared to 20.9 percent in Q3); government spending (1.7 percent compared to 1.8 percent in Q3); exports (14 percent compared to 17 percent in Q3) and imports (8.8 percent compared to 17.7 percent in Q3). Considering full 2016, the GDP expanded 7.2 percent, higher than 4.1 percent in 2015. GDP Annual Growth Rate in Iceland averaged 3.33 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)
2016-09-09 09:00 AM Q2 3.7% 4.4% 3.8%
2016-12-07 09:00 AM Q3 10.2% 3.8% 4%
2017-03-09 09:00 AM Q4 11.3% 9.6% 8.5%
2017-06-08 09:00 AM Q1 11.3% 7.6%
2017-09-08 09:00 AM Q2 6.2%
2017-12-08 09:00 AM Q3 4.1%




Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.60 4.50 6.20 -8.90 percent [+]
GDP Annual Growth Rate 11.30 9.60 13.40 -9.30 percent [+]
GDP 16.78 17.18 21.30 0.25 USD Billion [+]
GDP Constant Prices 351840.00 342916.00 351840.00 180870.00 ISK Million [+]
Gross National Product 1352143.00 1213634.00 1352143.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 67873.00 65065.00 109738.00 30531.00 ISK Million [+]
GDP per capita 45852.27 44477.79 46695.22 11465.04 USD [+]
GDP per capita PPP 42704.42 41424.30 43489.50 27401.20 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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
11.30 9.60 13.40 -9.30 1998 - 2016 percent Quarterly
NSA



gdp annual growth rate by Country

Last
India 7.00 Dec/16
China 6.90 Mar/17
Indonesia 5.01 Mar/17
Turkey 3.50 Dec/16
Netherlands 3.40 Mar/17
Spain 3.00 Mar/17
Mexico 2.80 Mar/17
South Korea 2.70 Mar/17
Australia 2.40 Dec/16
United Kingdom 2.10 Mar/17
United States 2.00 Dec/16
Canada 1.90 Dec/16
Euro Area 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.60 Mar/17
France 0.80 Mar/17
Italy 0.80 Mar/17
Switzerland 0.60 Dec/16
Russia 0.50 Mar/17
Brazil -2.50 Dec/16