Iceland GDP Annual Growth Rate  1998-2017 | Data | Chart | Calendar

The economy of Iceland advanced 3.4 percent year-on-year in the second quarter of 2017, the lowest expansion since the last three months of 2015 and following an upwardly revised 5.2 percent growth in the previous period. Inventories continued to fall (-0.4 percent compared to -1.2 percent in Q1) and imports jumped 16.2 percent (2.8 percent in Q1), faster than an 8 percent rise in exports (4.5 percent in Q1). On the other hand, higher growth rates were reported for household spending (9.5 percent compared to 7 percent in Q1); government consumption (2.8 percent compared to 1.6 percent) and gross fixed capital formation (5.8 percent compared to 1.6 percent). On a quarterly basis, the economy shrank 1.1 percent, the second consecutive contraction. GDP Annual Growth Rate in Iceland averaged 3.43 percent from 1998 until 2017, reaching an all time high of 13.30 percent in the first quarter of 1999 and a record low of -8.70 percent in the fourth quarter of 2009.

Iceland GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2017-03-09 09:00 AM GDP Growth Rate YoY 11.3% 9.6% 8.5%
2017-06-08 09:00 AM GDP Growth Rate YoY 5% 11.3% 7.6%
2017-09-08 09:00 AM GDP Growth Rate YoY 3.4% 5.2% 4.8%
2017-12-08 09:00 AM GDP Growth Rate YoY 3.4% 4.5%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.10 -0.70 7.20 -8.10 percent [+]
GDP Annual Growth Rate 3.40 5.20 13.30 -8.70 percent [+]
GDP 20.05 16.78 21.30 0.25 USD Billion [+]
GDP Constant Prices 348179.00 352112.00 354618.00 182565.00 ISK Million [+]
Gross National Product 1352143.00 1213634.00 1352143.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 71277.00 66201.00 108257.00 30075.00 ISK Million [+]
GDP per capita 48613.89 45820.06 48613.89 11465.03 USD [+]
GDP per capita PPP 45276.45 42674.42 45276.45 27401.20 USD [+]


Iceland GDP Annual 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 Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.40 5.20 13.30 -8.70 1998 - 2017 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
China 6.80 Sep/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.06 Sep/17
Canada 3.70 Jun/17
South Korea 3.60 Sep/17
Spain 3.10 Sep/17
Netherlands 3.00 Sep/17
Germany 2.80 Sep/17
Euro Area 2.50 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Australia 1.80 Jun/17
Italy 1.80 Sep/17
Russia 1.80 Sep/17
Japan 1.70 Sep/17
Mexico 1.60 Sep/17
United Kingdom 1.50 Sep/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17