Markets Actual Q2 Q3 Q4 Q1 2020
Currency 120.42 124 125 126 127 129
Stock Market (points) 1369.07 1334 1319 1304 1290 1261
Government Bond 10y (%) 4.33 4.63 4.69 4.75 4.81 4.94
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 1.70 0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate (%) 4.00 2.2 1.8 1.7 2.5 2.9
Unemployment Rate (%) 3.30 3.2 2.1 3 2.6 2.9
Inflation Rate (%) 2.90 2.9 2.9 2.9 2.8 2.6
Interest Rate (%) 4.50 4.5 4.5 4.5 4.25 4.25
Balance of Trade (ISK Million) -13200.00 -19400 -14800 -13300 -10400 -14700
Current Account to GDP (%) 3.30 1 1 1 1.2 1.2
Government Debt to GDP (%) 42.30 38 38 38 37 37
Government Budget (% of GDP) 0.00 1 1 1 0.6 0.6
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.30 46.3 46.3 46.3 46.3 46.3
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 1.70 0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate (%) 4.00 2.2 1.8 1.7 2.5 2.9
GDP (USD Billion) 23.91 29 29 29 32 32
GDP Constant Prices (ISK Million) 385392.00 379294 378566 391944 395027 403310
Gross National Product (ISK Million) 1468662.00 1436124 1433283 1444647 1456011 1486542
Gross Fixed Capital Formation (ISK Million) 82745.00 83947 73950 84152 84814 86592
GDP per capita (USD) 49910.01 50350 50350 50350 50220 50220
GDP per capita PPP (USD) 46482.96 47004 47004 47004 47205 47205
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 3.30 3.2 2.1 3 2.6 2.9
Wages (ISK/Month) 652000.00 672994 672994 672994 672994 694665
Population (Million) 0.35 0.35 0.35 0.36 0.37 0.37
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Rate (%) 78.10 79.5 79.5 79.4 79.4 79
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.90 2.9 2.9 2.9 2.8 2.6
Consumer Price Index CPI (Index Points) 465.30 468 470 477 478 489
Core Consumer Prices (Index Points) 261.40 262 262 268 268 275
Core Inflation Rate (%) 2.70 2.41 2.41 2.7 2.7 2.8
Producer Prices (Index Points) 207.30 212 219 229 212 240
Producer Prices Change (%) 5.60 5.3 8.1 7.8 2.5 4.5
Inflation Rate Mom (%) 0.50 0.3 0.1 0.4 0.4 0.5
CPI Housing Utilities (Index Points) 454.10 452 458 463 467 475
CPI Transportation (Index Points) 153.91 157 156 161 158 165
Food Inflation (%) 4.20 4.6 4.5 4.2 4.2 3.8
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 4.50 4.5 4.5 4.5 4.25 4.25
Interbank Rate (%) 4.67 4.72 4.72 4.72 4.47 4.47
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (ISK Million) -13200.00 -19400 -14800 -13300 -10400 -14700
Current Account to GDP (%) 3.30 1 1 1 1.2 1.2
Imports (ISK Million) 62900.00 75800 66700 69500 60200 73600
Exports (ISK Million) 49600.00 56400 51900 56200 49800 58900
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 42.30 38 38 38 37 37
Government Budget (% of GDP) 0.00 1 1 1 0.6 0.6
Government Spending (ISK Million) 79056.00 77824 75522 80400 81032 82732
Government Spending to GDP (%) 41.90 43.4 43.4 43.4 45 45
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.30 46.3 46.3 46.3 46.3 46.3
Sales Tax Rate (%) 24.00 24 24 24 24 24
Social Security Rate (%) 10.84 10.84 10.84 10.84 10.84 10.84
Social Security Rate For Companies (%) 6.84 6.84 6.84 6.84 6.84 6.84
Social Security Rate For Employees (%) 4.00 4 4 4 4 4
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Spending (ISK Million) 205772.00 201031 186703 209270 210916 215339
Gasoline Prices (USD/Liter) 1.81 1.75 1.71 1.67 1.62 1.63


This page has economic forecasts for Iceland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Iceland economy.