Markets Actual Q1 Q2 Q3 Q4 2020
Currency 124.59 124 124 125 126 128
Stock Market (points) 1502.98 1522 1506 1490 1475 1444
Government Bond 10y (%) 3.23 3.59 3.66 3.72 3.79 3.92
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) -0.70 0.6 0.5 0.5 0.5 0.7
GDP Annual Growth Rate (%) -0.10 1.6 1.5 1.7 1.5 2.6
Unemployment Rate (%) 4.30 2.6 3.2 3 2.9 3
Inflation Rate (%) 2.00 3.1 2.8 2.6 2.4 2.3
Interest Rate (%) 3.00 3 3 3 3 3
Balance of Trade (ISK Million) -8300.00 -10400 -10400 -10400 -14700 -13900
Current Account to GDP (%) 2.80 1.4 1.4 1.4 1.4 1.5
Government Debt to GDP (%) 37.70 37 37 37 37 35
Government Budget (% of GDP) 1.10 0.6 0.6 0.6 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 Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) -0.70 0.6 0.5 0.5 0.5 0.7
GDP Annual Growth Rate (%) -0.10 1.6 1.5 1.7 1.5 2.6
GDP (USD Billion) 25.88 26.9 26.9 26.9 26.9 29.9
GDP Constant Prices (ISK Million) 378987.00 373263 384608 382208 384672 394673
Gross National Product (ISK Million) 1470469.00 1482233 1481498 1482968 1492526 1531332
Gross Fixed Capital Formation (ISK Million) 77324.00 58845 76869 77981 78484 80524
GDP per capita (USD) 52103.20 53100 53100 53100 53100 54600
GDP per capita PPP (USD) 48605.58 48900 48900 48900 48900 50000
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 4.30 2.6 3.2 3 2.9 3
Wages (ISK/Month) 669000.00 690542 690542 690542 690542 712777
Population (Million) 0.35 0.37 0.37 0.37 0.37 0.38
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Rate (%) 77.20 79.4 79.4 79.4 79 79
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.00 3.1 2.8 2.6 2.4 2.3
Consumer Price Index CPI (points) 473.30 480 483 483 484 496
Harmonised Consumer Prices (points) 101.60 103 106 105 104 106
Core Consumer Prices (points) 266.00 268 271 271 273 281
Core Inflation Rate (%) 2.10 2.7 2.7 2.7 2.8 2.8
Producer Prices (points) 210.60 212 226 222 240 249
Producer Prices Change (%) -1.00 5.5 5 5 4.5 4.5
Inflation Rate Mom (%) 0.10 0.5 0.5 0.4 0.5 0.5
CPI Housing Utilities (points) 461.80 468 470 470 473 484
CPI Transportation (points) 156.91 159 164 160 161 164
Food Inflation (%) 1.00 4.2 4.2 4.2 3.8 3.8
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 3.00 3 3 3 3 3
Interbank Rate (%) 3.41 3.45 3.45 3.45 3.45 3.45
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (ISK Million) -8300.00 -10400 -10400 -10400 -14700 -13900
Current Account to GDP (%) 2.80 1.4 1.4 1.4 1.4 1.5
Imports (ISK Million) 52400.00 60200 60200 60200 73600 74400
Exports (ISK Million) 44100.00 49800 49800 49800 58900 60500
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 37.70 37 37 37 37 35
Government Budget (% of GDP) 1.10 0.6 0.6 0.6 0.6 0.6
Government Budget Value (ISK Billion) 6.10 8.81 8.81 8.81 9.13 9.17
Government Spending (ISK Million) 77006.00 77090 80357 77661 78161 80193
Government Spending to GDP (%) 41.70 41.2 41.2 41.2 41.2 41
Taxes Actual Q1 Q2 Q3 Q4 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 (%) 6.60 6.6 6.6 6.6 6.6 6.6
Social Security Rate For Employees (%) 4.00 4 4 4 4 4
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Spending (ISK Million) 189168.00 185727 203166 190776 192006 196998
Disposable Personal Income (ISK Thousand) 4100.50 4133 4131 4135 4162 4270
Gasoline Prices (USD/Liter) 1.68 1.85 1.89 1.94 1.98 1.98


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.