Iceland GDP Growth Rate  1997-2018 | Data | Chart | Calendar | Forecast

The economy of Iceland contracted 2.60 percent on quarter in the first three months of 2018, following a 0.6 percent growth in the previous period. GDP Growth Rate in Iceland averaged 0.81 percent from 1997 until 2018, reaching an all time high of 7.10 percent in the second quarter of 1998 and a record low of -7.60 percent in the first quarter of 2009.

Iceland GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2017-12-08 09:00 AM GDP Growth Rate QoQ 2.2% -1.7% 1%
2018-03-09 09:00 AM GDP Growth Rate QoQ 0.6% 3.1% 0.8%
2018-06-08 09:00 AM GDP Growth Rate QoQ -2.6% 0.6% 1.5%
2018-09-07 09:00 AM GDP Growth Rate QoQ -2.6% 2%
2018-12-07 09:00 AM GDP Growth Rate QoQ 1%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -2.60 0.60 7.10 -7.60 percent [+]
GDP Annual Growth Rate 5.40 1.50 13.30 -8.70 percent [+]
GDP 23.91 20.30 23.91 0.25 USD Billion [+]
GDP Constant Prices 352200.00 361529.00 361529.00 181016.00 ISK Million [+]
Gross National Product 1405632.00 1352143.00 1405632.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 72724.00 73833.00 107974.00 30160.00 ISK Million [+]
GDP per capita 49910.01 48995.17 49910.01 11465.03 USD [+]
GDP per capita PPP 46482.96 45630.94 46482.96 27401.20 USD [+]


Iceland GDP Growth Rate

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 Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on August of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2.60 0.60 7.10 -7.60 1997 - 2018 percent Quarterly
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GDP growth rate by Country
Country Last
Indonesia 4.21 Jun/18
United States 4.10 Jun/18
Turkey 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Australia 1.00 Mar/18
Russia 0.85 Mar/18
Netherlands 0.70 Jun/18
South Korea 0.70 Jun/18
Spain 0.60 Jun/18
Switzerland 0.60 Mar/18
Germany 0.50 Jun/18
Japan 0.50 Jun/18
Brazil 0.40 Mar/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Canada 0.30 Mar/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Mexico -0.10 Jun/18


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