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

The economy of Iceland expanded 5 percent year-on-year in the first three months of 2017, following a 10-year high growth of 11.3 percent in the previous period. The slowdown was mainly due to a 2 percent fall in business investment (+11.5 percent in the previous period) while residential construction rose much less (29 percent from 70.9 percent). In addition, exports of goods fell 5.3 percent (+4.2 percent) and imports of goods declined 2.6 percent (+4.6 percent) and private spending rose slightly less (7 percent from 7.2 percent). In contrast, both government consumption (1.8 percent from 1.7 percent) and investment (3.8 percent from 2.1 percent) increased more. On a quarterly basis, the economy shrank 1.9 percent, the biggest contraction in three years. GDP Annual Growth Rate in Iceland averaged 3.35 percent from 1998 until 2017, reaching an all time high of 13.40 percent in the first quarter of 1999 and a record low of -9.30 percent in the fourth quarter of 2009.

Iceland GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2016-12-07 09:00 AM Q3 10.2% 3.8% 4%
2017-03-09 09:00 AM Q4 11.3% 9.6% 8.5%
2017-06-08 09:00 AM Q1 5% 11.3% 7.6%
2017-09-08 09:00 AM Q2 5% 4.8%
2017-12-08 09:00 AM Q3 4.5%




Iceland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.90 2.60 6.20 -8.90 percent [+]
GDP Annual Growth Rate 5.00 11.30 13.40 -9.30 percent [+]
GDP 16.78 17.18 21.30 0.25 USD Billion [+]
GDP Constant Prices 345331.00 351840.00 351840.00 180870.00 ISK Million [+]
Gross National Product 1352143.00 1213634.00 1352143.00 496273.00 ISK Million [+]
Gross Fixed Capital Formation 65315.00 67873.00 109738.00 30531.00 ISK Million [+]
GDP per capita 45852.27 44477.79 46695.22 11465.04 USD [+]
GDP per capita PPP 42704.42 41424.30 43489.50 27401.20 USD [+]


Iceland GDP Annual Growth Rate Notes

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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.00 11.30 13.40 -9.30 1998 - 2017 percent Quarterly
NSA



gdp annual growth rate by Country

Last
China 6.90 Mar/17
India 6.10 Mar/17
Indonesia 5.01 Mar/17
Turkey 5.00 Mar/17
Netherlands 3.20 Mar/17
Spain 3.00 Mar/17
South Korea 2.90 Mar/17
Mexico 2.80 Mar/17
Canada 2.30 Mar/17
United Kingdom 2.00 Mar/17
United States 2.00 Mar/17
Euro Area 1.90 Mar/17
Australia 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.30 Mar/17
Italy 1.20 Mar/17
France 1.10 Mar/17
Switzerland 1.10 Mar/17
Russia 0.50 Mar/17
Brazil -0.40 Mar/17