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

The economy of Iceland expanded 1.5 percent year-on-year in the last three months of 2017, below an upwardly revised 3.4 percent expansion in the previous period. It is the lowest growth rate since the first quarter of 2014 when the economy contracted 1 percent. A slowdown was seen in household spending (6.5 percent compared to 7.7 percent in Q3); public expenditure (2.4 percent compared to 2.6 percent); gross fixed capital formation (3.5 percent compared to 19.8 percent) while inventories shrank (-0.7 percent compared to 1.7 percent). Also, exports went up 7.5 percent (compared to 0.1 percent) and imports increased at a faster 15.4 percent (compared to 12.3 percent). On a quarterly basis, the economy advanced 0.6 percent after 3.1 percent in the previous quarter. Considering full 2017, the GDP grew 3.6 percent, below 7.5 percent in 2016. 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
2017-09-08 09:00 AM GDP Growth Rate YoY 3.4% 5.2% 4.8%
2017-12-08 09:00 AM GDP Growth Rate YoY 3.1% 4.3% 4.5%
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 1.5% 2%
2018-09-07 09:00 AM GDP Growth Rate YoY 2%
2018-12-07 09:00 AM GDP Growth Rate YoY 2.20%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 3.10 7.10 -7.60 percent [+]
GDP Annual Growth Rate 1.50 3.40 13.30 -8.70 percent [+]
GDP 20.05 16.78 21.30 0.25 USD Billion [+]
GDP Constant Prices 361529.00 359216.00 361529.00 181016.00 ISK Million [+]
Gross National Product 1405632.00 1352143.00 1405632.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 73833.00 77306.00 107974.00 30160.00 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 April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 3.40 13.30 -8.70 1998 - 2017 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
Turkey 7.30 Dec/17
India 7.20 Dec/17
China 6.80 Mar/18
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 2.90 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
South Korea 2.80 Dec/17
Euro Area 2.70 Dec/17
United States 2.60 Dec/17
France 2.50 Dec/17
Australia 2.40 Dec/17
Brazil 2.10 Dec/17
Japan 2.00 Dec/17
Switzerland 1.90 Dec/17
Italy 1.60 Dec/17
Mexico 1.50 Dec/17
United Kingdom 1.40 Dec/17
Russia 0.90 Dec/17


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