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

Iceland GDP advanced 3.1 percent year-on-year in the third quarter of 2017, slowing from an upwardly revised 4.3 percent expansion in the previous period. It is the lowest growth rate since the last three months of 2015 as consumption slowed for both private (6.7 percent compared to 9.3 percent in the second quarter) and public (2.9 percent compared to 3.2 percent) sector. In contrast, gross fixed capital formation surged 19.4 percent (10.3 percent in the previous period), inventories grew 1.7 percent (-0.5 percent in Q2) and the positive contribution from net trade was bigger in spite of exports falling 0.1 percent (+9 percent in Q2) and imports growing 9 percent (+16.5 in Q2). On a quarterly basis, the economy expanded 2.2 percent, recovering from an upwardly revised 1.7 percent contraction in the previous three months. GDP Annual Growth Rate in Iceland averaged 3.42 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
2017-06-08 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 3.1% 4.3% 4.5%
2018-03-09 09:00 AM GDP Growth Rate YoY 3.1% 2.10%
2018-06-08 09:00 AM GDP Growth Rate YoY 2.20%
2018-09-07 09:00 AM GDP Growth Rate YoY 2.20%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.20 -1.70 7.20 -8.10 percent [+]
GDP Annual Growth Rate 3.10 4.30 13.30 -8.70 percent [+]
GDP 20.05 16.78 21.30 0.25 USD Billion [+]
GDP Constant Prices 351327.00 348179.00 354618.00 182565.00 ISK Million [+]
Gross National Product 1352143.00 1213634.00 1352143.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 77232.00 71277.00 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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 4.30 13.30 -8.70 1998 - 2017 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Dec/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
France 2.30 Sep/17
United States 2.30 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
United Kingdom 1.70 Sep/17
Mexico 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17


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