Markets Actual Q4 Q1 Q2 Q3 2022
Currency 129.81 131 132 133 134 136
Stock Market (points) 2544.57 2477 2421 2366 2312 2208
Government Bond 10y (%) 3.98 4.15 4.22 4.3 4.37 4.53

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 4.20 1.3 1 0.9 1 0.9
GDP Annual Growth Rate (%) 7.30 6.3 2 1.1 2.8 3.1
Unemployment Rate (%) 5.80 4.8 4.5 4.2 4 3.5
Inflation Rate (%) 4.80 4.7 3.3 2.6 2.6 2.3
Interest Rate (%) 2.00 2 2.25 2.25 2.5 2.75
Balance of Trade (ISK Million) -12473.70 -13900 -13900 -13900 -13900 -13900
Current Account (ISK Million) -31084.00 15 15 15 15 20
Current Account to GDP (% of GDP) 1.00 0.9 1.8 1.8 1.8 1.8
Government Debt to GDP (% of GDP) 79.90 52 49 49 49 49
Government Budget (% of GDP) -7.30 -9.9 -8.7 -8.7 -8.7 -8.7
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.25 46.3 46.3 46.3 46.3 46.3

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 4.20 1.3 1 0.9 1 0.9
GDP Annual Growth Rate (%) 7.30 6.3 2 1.1 2.8 3.1
GDP (USD Billion) 21.71 23.5 23.5 23.5 23.5 24.1
GDP Constant Prices (ISK Million) 666996.00 703445 652976 674333 685672 725251
Gross National Product (ISK Million) 2612659.00 2777257 2664912 2641398 2685813 2863351
Gross Fixed Capital Formation (ISK Million) 166853.00 152196 125350 168688 171525 156914
GDP per capita (USD) 53193.56 51000 51000 51000 51000 52000
GDP per capita PPP (USD) 52279.73 53700 53700 53700 53700 54690

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 5.80 4.8 4.5 4.2 4 3.5
Wages (ISK/Month) 731000.00 717033 717033 717033 717033 717033
Population (Million) 0.36 0.38 0.38 0.38 0.38 0.39
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Rate (%) 75.50 78.5 78.5 78.5 78.5 78.5

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 4.80 4.7 3.3 2.6 2.6 2.3
Consumer Price Index CPI (points) 513.00 513 512 516 521 525
Harmonised Consumer Prices (points) 108.02 109 108 111 111 111
Core Consumer Prices (points) 287.40 295 296 302 303 312
Core Inflation Rate (%) 4.20 6.8 6.3 6.9 6.4 6
Producer Prices (points) 266.90 264 255 256 272 285
Producer Prices Change (%) 17.30 17.8 11.2 8 6.3 8
Food Inflation (%) 1.70 4.8 3.8 3.8 3.8 3.8
CPI Housing Utilities (points) 513.40 495 496 507 518 506
CPI Transportation (points) 168.99 170 171 172 172 173
Inflation Rate Mom (%) 0.40 0.5 0.5 0.5 0.5 0.5

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 2.00 2 2.25 2.25 2.5 2.75
Interbank Rate (%) 2.38 2.38 2.63 2.63 2.88 3.13

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (ISK Million) -12473.70 -13900 -13900 -13900 -13900 -13900
Current Account (ISK Million) -31084.00 15 15 15 15 20
Current Account to GDP (% of GDP) 1.00 0.9 1.8 1.8 1.8 1.8
Imports (ISK Million) 85460.10 74400 74400 74400 74400 74400
Exports (ISK Million) 72986.40 60500 60500 60500 60500 60500

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 79.90 52 49 49 49 49
Government Budget (% of GDP) -7.30 -9.9 -8.7 -8.7 -8.7 -8.7
Government Budget Value (ISK Billion) -88.20 9.17 9.17 9.17 9.17 9.17
Government Spending (ISK Million) 165061.00 173035 165368 166877 169683 178399
Government Spending to GDP (% of GDP) 49.70 41 41 41 41 41

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 46.25 46.3 46.3 46.3 46.3 46.3
Sales Tax Rate (%) 24.00 24 24 24 24 24
Social Security Rate (%) 10.10 10.1 10.1 10.1 10.1 10.1
Social Security Rate For Companies (%) 6.10 6.84 6.84 6.84 6.1 6.1
Social Security Rate For Employees (%) 4.00 4 4 4 4 4

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Spending (ISK Million) 358476.00 381954 350529 362419 368513 393795
Disposable Personal Income (ISK Thousand) 4272.30 4541 4358 4319 4392 4682
Gasoline Prices (USD/Liter) 1.83 1.54 1.65 1.57 1.49 1.42


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Iceland Forecast - was last updated on Tuesday, November 30, 2021.