Iceland's economy showed no growth quarter-on-quarter on the third quarter of 2018, following a downwardly revised 1.4 percent expansion in the previous period GDP Growth Rate in Iceland averaged 0.86 percent from 1997 until 2018, reaching an all time high of 7.60 percent in the second quarter of 1998 and a record low of -7.60 percent in the first quarter of 2009.

GDP Growth Rate in Iceland is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Iceland to stand at 0.80 in 12 months time. In the long-term, the Iceland GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Iceland GDP Growth Rate
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
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 1.9% 1.2% 0.9%
2018-12-07 09:00 AM GDP Growth Rate QoQ 0% 1.4% 1.8%
2019-03-08 09:00 AM GDP Growth Rate QoQ 0% 1.80%
2019-06-07 09:00 AM GDP Growth Rate QoQ 0.90%
2019-09-06 09:00 AM GDP Growth Rate QoQ 0.60%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.00 1.40 7.60 -7.60 percent [+]
GDP Annual Growth Rate 2.60 6.70 13.40 -8.70 percent [+]
GDP 23.91 20.30 23.91 0.25 USD Billion [+]
GDP Constant Prices 373561.00 373593.00 373593.00 181605.00 ISK Million [+]
Gross National Product 1405632.00 1352143.00 1405632.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 74378.00 79744.00 107300.00 29987.00 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 1.40 7.60 -7.60 1997 - 2018 percent Quarterly
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Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Argentina -4.00 Jun/18


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