Markets Actual Q1 Q2 Q3 Q4 2020
Currency 121.03 118 119 120 121 123
Stock Market (points) 1229.46 1202 1189 1176 1164 1139
Government Bond 10y (%) 5.39 5.54 5.61 5.67 5.74 5.88
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.00 0.9 0.6 0.6 0.6 0.5
GDP Annual Growth Rate (%) 2.60 3 2.5 2.7 4.6 2.9
Unemployment Rate (%) 3.60 3.2 3.2 3 3 3.4
Inflation Rate (%) 3.70 3.4 3.5 3.4 3.3 2.7
Interest Rate (%) 4.50 4.5 4.5 4.5 4.5 4.25
Balance of Trade (ISK Million) -10700.00 -8700 -14000 -13019 -4650 -4110
Current Account to GDP (%) 3.30 1 1 1 1 0.7
Government Debt to GDP (%) 42.30 38 38 38 38 37
Government Budget (% of GDP) 0.00 1 1 1 1 0.9
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.30 46.3 46.3 46.3 46.3 46.3
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.00 0.9 0.6 0.6 0.6 0.5
GDP Annual Growth Rate (%) 2.60 3 2.5 2.7 4.6 2.9
GDP (USD Billion) 23.91 29 29 29 29 32
GDP Constant Prices (ISK Million) 373561.00 373823 378263 378604 390745 402076
Gross National Product (ISK Million) 1405632.00 1426716 1423202 1424608 1470291 1512930
Gross Fixed Capital Formation (ISK Million) 74378.00 75636 80741 75382 77799 80056
GDP per capita (USD) 49910.01 50350 50350 50350 50350 50220
GDP per capita PPP (USD) 46482.96 47004 47004 47004 47004 47205
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 3.60 3.2 3.2 3 3 3.4
Wages (ISK/Month) 615000.00 750000 702504 714907 750000 800000
Population (Million) 0.35 0.35 0.35 0.35 0.35 0.36
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Rate (%) 79.40 79.6 79.5 79.5 79.4 79
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 3.70 3.4 3.5 3.4 3.3 2.7
Consumer Price Index CPI (Index Points) 463.90 467 471 472 479 492
Harmonised Consumer Prices (Index Points) 100.70 102 105 103 102 105
Core Consumer Prices (Index Points) 260.60 261 262 262 268 275
Core Inflation Rate (%) 3.50 2.7 2.41 2.41 2.7 2.8
Producer Prices (Index Points) 216.20 209 218 218 212 221
Producer Prices Change (%) 11.70 8.5 8.2 7.9 4.5 4
Inflation Rate Mom (%) 0.70 0.2 0.3 0.1 0.4 0.5
CPI Housing Utilities (Index Points) 450.00 451 455 460 465 477
CPI Transportation (Index Points) 156.59 155 158 157 162 166
Food Inflation (%) 4.70 4.7 4.6 4.5 4.2 3.8
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 4.50 4.5 4.5 4.5 4.5 4.25
Interbank Rate (%) 4.67 4.67 4.67 4.67 4.67 4.67
Money Supply M0 (ISK Billion) 130.20 270 128 128 340 450
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (ISK Million) -10700.00 -8700 -14000 -13019 -4650 -4110
Current Account to GDP (%) 3.30 1 1 1 1 0.7
Imports (ISK Million) 17000.00 58800 62200 66066 72500 73600
Exports (ISK Million) 11300.00 50100 48200 53047 48100 51500
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 42.30 38 38 38 38 37
Government Budget (% of GDP) 0.00 1 1 1 1 0.9
Government Budget Value (ISK Billion) 1.80 11.81 9.5 8.93 8.81 9.13
Government Spending (ISK Million) 74967.00 76716 78969 76991 78415 80690
Government Spending to GDP (%) 41.90 41.9 41.9 41.9 41.9 41.9
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.30 46.3 46.3 46.3 46.3 46.3
Sales Tax Rate (%) 24.00 24 24 24 24 24
Social Security Rate (%) 10.84 10.84 10.84 10.84 10.84 10.84
Social Security Rate For Companies (%) 6.84 6.84 6.84 6.84 6.84 6.84
Social Security Rate For Employees (%) 4.00 4 4 4 4 4
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Spending (ISK Million) 184901.00 183510 200998 187397 193406 199015
Gasoline Prices (USD/Liter) 1.81 1.71 1.66 1.63 1.59 1.59


This page has economic forecasts for Iceland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Iceland economy.