Iceland's economy shrank 0.7 percent quarter-on-quarter in the three months to September 2019, after expanding 3.1 percent in the previous period. GDP Growth Rate in Iceland averaged 0.87 percent from 1997 until 2019, reaching an all time high of 10 percent in the second quarter of 1998 and a record low of -8.70 percent in the first quarter of 2009.
GDP Growth Rate in Iceland is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Iceland to stand at 0.50 in 12 months time. In the long-term, the Iceland GDP Growth Rate is projected to trend around 0.70 percent in 2020, according to our econometric models.