Iceland GDP Annual Growth Rate  1998-2018 | Data | Chart | Calendar

The economy of Iceland grew 7.2 percent year-on-year in the second quarter of 2018, following an upwardly revised 5.6 percent expansion in the previous period. It was the strongest growth since the last quarter of 2016, mainly driven by a 1.2 percent rise in changes in inventories (vs 0.3 percent in Q1). Meantime, gross fixed capital formation increased 7.5 percent, easing from a 7.8 percent rise in Q1 mainly due to a slowdown in residential construction investment.Also, public expenditure (2.8 percent compared to 3.3 percent) and household consumption (5.1 percent compared to 5.6 percent) slowed. Exports rose at a softer pace (0.8 percent compared to 9.3 percent) while imports dropped (-0.4 percent compared to 9.9 percent). On a quarterly basis, the economy expanded 1.9 percent, after an upwardly revised 1.2 percent growth in the prior period. GDP Annual Growth Rate in Iceland averaged 3.54 percent from 1998 until 2018, reaching an all time high of 13.40 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
2018-03-09 09:00 AM GDP Growth Rate YoY 1.5% 3.4% 2.9%
2018-06-08 09:00 AM GDP Growth Rate YoY 5.4% 1.5% 3.4%
2018-09-07 09:00 AM GDP Growth Rate YoY 7.2% 5.6% 4.1%
2018-12-07 09:00 AM GDP Growth Rate YoY 7.2% 3.4%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.90 1.20 7.10 -7.80 percent [+]
GDP Annual Growth Rate 7.20 5.60 13.40 -8.70 percent [+]
GDP 23.91 20.30 23.91 0.25 USD Billion [+]
GDP Constant Prices 375858.00 368929.00 375858.00 181605.00 ISK Million [+]
Gross National Product 1405632.00 1352143.00 1405632.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 80820.00 74790.00 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 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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
7.20 5.60 13.40 -8.70 1998 - 2018 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
India 8.20 Jun/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Turkey 5.20 Jun/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
Netherlands 3.10 Jun/18
United States 2.90 Jun/18
South Korea 2.80 Jun/18
Mexico 2.60 Jun/18
Singapore 2.60 Sep/18
Spain 2.50 Jun/18
Euro Area 2.10 Jun/18
Germany 2.00 Jun/18
Canada 1.90 Jun/18
Russia 1.90 Jun/18
France 1.70 Jun/18
Saudi Arabia 1.61 Jun/18
Italy 1.20 Jun/18
United Kingdom 1.20 Jun/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
South Africa 0.40 Jun/18
Argentina -4.20 Jun/18


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