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

The Iceland's economy expanded 3.2 percent year-on-year in the fourth quarter of 2015, following a downwardly revised 2.0 percent increase in the previous period. Private spending rose 6.1 percent, gross fixed capital formation went up 31.2 percent and government consumption increased 1.1 percent. Exports rose 10.6 percent while imports grew at a faster 20.3 percent. Meantime on a quarterly basis, GDP contracted 1.1 percent. For the year 2015, GDP advanced by 4.0 percent. GDP Annual Growth Rate in Iceland averaged 3.20 percent from 1998 until 2015, reaching an all time high of 13.60 percent in the first quarter of 1999 and a record low of -7.20 percent in the fourth quarter of 2009. GDP Annual Growth Rate in Iceland is reported by the Statistics Iceland.

Iceland GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.20 2.00 13.60 -7.20 1998 - 2015 percent Quarterly
NSA
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 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-11 10:00 AM Q2 5.6% 4.8% 1.96%
2015-12-08 09:20 AM Q3 2.6% 5.6% 3.5% 4.35%
2016-03-10 09:00 AM Q4 3.2% 2.0% 3.9%
2016-06-07 09:00 AM Q1 3.2% 3.4%
2016-09-09 09:00 AM Q2 3.5%
2016-12-07 09:00 AM Q3 3.7%

Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.10 1.20 9.60 -7.60 percent [+]
GDP Annual Growth Rate 3.20 2.00 13.60 -7.20 percent [+]
GDP 17.04 15.38 21.29 0.25 USD Billion [+]
GDP Constant Prices 323142.00 326791.00 326791.00 182018.00 ISK Million [+]
Gross National Product 1232150.00 1133236.00 1232150.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 59302.00 56379.00 109547.00 30713.00 ISK Million [+]
GDP per capita 59692.87 59288.54 61662.47 15049.46 USD [+]
GDP per capita PPP 41236.93 40957.62 42597.57 26977.05 USD [+]




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