Markets Actual Q3 Q4 Q1 Q2 2020
Currency 123.96 123 124 125 126 128
Stock Market (points) 1432.59 1439 1423 1407 1391 1360
Government Bond 10y (%) 3.66 3.93 3.99 4.05 4.11 4.24
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 0.60 0.6 0.4 0.6 0.5 0.5
GDP Annual Growth Rate (%) 1.70 0.5 -0.5 1.9 2.2 2.5
Unemployment Rate (%) 3.10 2.1 3 2.6 3.2 2.9
Inflation Rate (%) 3.10 3.3 2.6 2.8 2.7 2.4
Interest Rate (%) 3.75 3.75 3.5 3.5 3.5 3.5
Balance of Trade (ISK Million) -18600.00 -14800 -13300 -10400 -10400 -14700
Current Account to GDP (%) 2.80 1.3 1.3 0.1 0.1 0.1
Government Debt to GDP (%) 37.70 37.5 37.5 37 37 37
Government Budget (% of GDP) 1.10 1 1 0.6 0.6 0.6
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 Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 0.60 0.6 0.4 0.6 0.5 0.5
GDP Annual Growth Rate (%) 1.70 0.5 -0.5 1.9 2.2 2.5
GDP (USD Billion) 25.88 24.7 24.7 26.9 26.9 26.9
GDP Constant Prices (ISK Million) 383461.00 378566 391944 395027 392714 403310
Gross National Product (ISK Million) 1468662.00 1433283 1444647 1456011 1496567 1486542
Gross Fixed Capital Formation (ISK Million) 64633.00 73950 84152 84814 84317 86592
GDP per capita (USD) 52103.20 55000 55000 63000 63000 63000
GDP per capita PPP (USD) 48605.58 48500 48500 48900 48900 48900
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 3.10 2.1 3 2.6 3.2 2.9
Wages (ISK/Month) 652000.00 672994 672994 672994 672994 694665
Population (Million) 0.35 0.35 0.36 0.37 0.37 0.37
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Rate (%) 78.70 79.5 79.4 79.4 79.4 79
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 3.10 3.3 2.6 2.8 2.7 2.4
Consumer Price Index CPI (Index Points) 468.80 472 476 478 482 487
Core Consumer Prices (Index Points) 262.70 262 268 268 268 275
Core Inflation Rate (%) 2.70 2.41 2.7 2.7 2.7 2.8
Producer Prices (Index Points) 215.20 219 229 212 220 240
Producer Prices Change (%) 6.70 8.1 7.8 5.5 5 4.5
Inflation Rate Mom (%) -0.20 0.1 0.4 0.4 0.4 0.5
CPI Housing Utilities (Index Points) 457.90 460 462 467 469 473
CPI Transportation (Index Points) 161.09 157 161 158 164 165
Food Inflation (%) 5.50 4.5 4.2 4.2 4.2 3.8
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 3.75 3.75 3.5 3.5 3.5 3.5
Interbank Rate (%) 4.07 4.1 4.1 4.1 4.1 4.1
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (ISK Million) -18600.00 -14800 -13300 -10400 -10400 -14700
Current Account to GDP (%) 2.80 1.3 1.3 0.1 0.1 0.1
Imports (ISK Million) 70200.00 66700 69500 60200 60200 73600
Exports (ISK Million) 51600.00 51900 56200 49800 49800 58900
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 37.70 37.5 37.5 37 37 37
Government Budget (% of GDP) 1.10 1 1 0.6 0.6 0.6
Government Spending (ISK Million) 76527.00 75522 80400 81032 80558 82732
Government Spending to GDP (%) 41.70 41.5 41.5 41.2 41.2 41.2
Taxes Actual Q3 Q4 Q1 Q2 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 (%) 6.60 6.84 6.84 6.84 6.84 6.84
Social Security Rate For Employees (%) 4.00 4 4 4 4 4
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Spending (ISK Million) 185018.00 186703 209270 210916 209682 215339
Gasoline Prices (USD/Liter) 1.71 1.67 1.62 1.58 1.54 1.54


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.