Name: Iceland GDP Growth Rate
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/
Keywords: Iceland,GDP Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2025,2026,2027

On a seasonally adjusted quarterly basis, Iceland's GDP shrank by 0.2% in Q3 2025, after a revised 0.4% decline in the prior period. GDP Growth Rate in Iceland averaged 0.77 percent from 1995 until 2025, reaching an all time high of 10.10 percent in the second quarter of 1998 and a record low of -9.40 percent in the first quarter of 2009. source: Statistics Iceland

The Gross Domestic Product (GDP) in Iceland contracted 0.20 percent in the third quarter of 2025 over the previous quarter.

The Gross Domestic Product (GDP) in Iceland contracted 0.20 percent in the third quarter of 2025 over the previous quarter. GDP Growth Rate in Iceland is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland GDP Growth Rate is projected to trend around 0.50 percent in 2027 and 0.60 percent in 2028, according to our econometric models.

Related	Last	Previous	Unit	Reference
Full Year GDP Growth	-1.00	5.20	percent	Dec 2024
GDP Growth Rate YoY	1.20	-0.20	percent	Sep 2025
GDP Constant Prices	923308.00	887508.00	ISK Million	Sep 2025
GDP Growth Rate	-0.20	-0.40	percent	Sep 2025
Gross Fixed Capital Formation	235016.00	264311.00	ISK Million	Sep 2025
Gross National Product	3562510.00	3551164.00	ISK Million	Dec 2024

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.