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

The economy of Iceland expanded 5.4 percent year-on-year in the first three months of 2018, higher than 1.5 percent in the previous period which was the lowest growth rate since the first quarter of 2014 when the economy contracted 1 percent. Gross fixed capital formation jumped 11.6 percent, following a 3.5 percent rise in Q4, led by a 38 percent increase in residential construction investment. Business sector investment increased by 7.1 percent and government 2.2 percent. Public expenditure rose faster (2.9 percent compared to 2.4 percent) while household consumption increased less (5.9 percent compared to 6.5 percent). Exports jumped faster (11.1 percent compared to 7.5 percent) while imports rose slightly less (14.9 percent compared to 15.4 percent). On a quarterly basis, the economy shrank 2.6 percent, the worse in a year. GDP Annual Growth Rate in Iceland averaged 3.45 percent from 1998 until 2018, 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
2017-12-08 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 5.4% 1.5% 3.4%
2018-09-07 09:00 AM GDP Growth Rate YoY 5.4% 3.4%
2018-12-07 09:00 AM GDP Growth Rate YoY 3.2%


Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -2.60 0.60 7.10 -7.60 percent [+]
GDP Annual Growth Rate 5.40 1.50 13.30 -8.70 percent [+]
GDP 23.91 20.30 23.91 0.25 USD Billion [+]
GDP Constant Prices 352200.00 361529.00 361529.00 181016.00 ISK Million [+]
Gross National Product 1405632.00 1352143.00 1405632.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 72724.00 73833.00 107974.00 30160.00 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 August of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.40 1.50 13.30 -8.70 1998 - 2018 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Australia 3.10 Mar/18
Netherlands 2.90 Jun/18
South Korea 2.90 Jun/18
United States 2.80 Jun/18
Mexico 2.70 Jun/18
Spain 2.70 Jun/18
Canada 2.30 Mar/18
Euro Area 2.20 Jun/18
Switzerland 2.20 Mar/18
Germany 2.00 Jun/18
Russia 1.80 Jun/18
France 1.70 Jun/18
United Kingdom 1.30 Jun/18
Brazil 1.20 Mar/18
Italy 1.10 Jun/18
Japan 1.00 Jun/18


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