Markets Actual Q2 Q3 Q4 Q1 2020
Currency 126.13 125 126 127 128 130
Stock Market (points) 1445.99 1462 1445 1429 1412 1380
Government Bond 10y (%) 4.04 4.08 4.14 4.2 4.26 4.38
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 0.60 0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate (%) 1.70 0.9 0.5 -0.5 1.9 2.5
Unemployment Rate (%) 2.90 3.2 2.1 3 2.6 2.9
Inflation Rate (%) 3.60 2.8 3.3 2.6 2.8 2.4
Interest Rate (%) 4.00 4 4 4 4.25 4.25
Balance of Trade (ISK Million) -16400.00 -19400 -14800 -13300 -10400 -14700
Current Account to GDP (%) 2.80 1.3 1.3 1.3 0.1 0.1
Government Debt to GDP (%) 37.70 37.5 37.5 37.5 37 37
Government Budget (% of GDP) 1.10 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 (%) 0.60 0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate (%) 1.70 0.9 0.5 -0.5 1.9 2.5
GDP (USD Billion) 23.91 29 29 29 32 32
GDP Constant Prices (ISK Million) 383461.00 376855 376127 383465 392714 393052
Gross National Product (ISK Million) 1468662.00 1426891 1424050 1461319 1496567 1497852
Gross Fixed Capital Formation (ISK Million) 64633.00 83408 73473 82331 84317 84390
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 (%) 2.90 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 (%) 79.60 79.5 79.5 79.4 79.4 79
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 3.60 2.8 3.3 2.6 2.8 2.4
Consumer Price Index CPI (Index Points) 468.00 467 472 476 478 487
Core Consumer Prices (Index Points) 262.40 262 262 268 268 275
Core Inflation Rate (%) 3.30 2.41 2.41 2.7 2.7 2.8
Producer Prices (Index Points) 209.90 212 219 229 212 240
Producer Prices Change (%) 10.20 5.3 8.1 7.8 2.5 4.5
Inflation Rate Mom (%) 0.20 0.3 0.1 0.4 0.4 0.5
CPI Housing Utilities (Index Points) 455.50 452 460 462 467 473
CPI Transportation (Index Points) 158.38 156 157 161 158 165
Food Inflation (%) 4.80 4.6 4.5 4.2 4.2 3.8
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 4.00 4 4 4 4.25 4.25
Interbank Rate (%) 4.32 4.65 4.65 4.65 4.9 4.9
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (ISK Million) -16400.00 -19400 -14800 -13300 -10400 -14700
Current Account to GDP (%) 2.80 1.3 1.3 1.3 0.1 0.1
Imports (ISK Million) 79500.00 75800 66700 69500 60200 73600
Exports (ISK Million) 63200.00 56400 51900 56200 49800 58900
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 37.70 37.5 37.5 37.5 37 37
Government Budget (% of GDP) 1.10 1 1 1 0.6 0.6
Government Spending (ISK Million) 76527.00 77323 75035 78661 80558 80627
Government Spending to GDP (%) 41.70 41.5 41.5 41.5 41.2 41.2
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 (%) 6.60 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) 185018.00 199739 185501 204743 209682 209862
Gasoline Prices (USD/Liter) 1.77 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.