The gross domestic product (GDP) in Iceland expanded 2.2 percent quarter-on-quarter in the three months to December 2022, accelerating from a 0.2 percent growth in the previous three-month period. The upturn was mainly prompted by the strong rebound in private consumption (1.1 percent vs -0.4 percent) and increase in gross fixed capital formation (6.2 percent vs 3.5 percent). On a yearly basis, the economy grew 3.1 percent, easing sharply from a 7.5 percent expansion in the third quarter. source: Statistics Iceland
GDP Growth Rate in Iceland averaged 0.85 percent from 1995 until 2022, reaching an all time high of 10.10 percent in the second quarter of 1998 and a record low of -9.80 percent in the first quarter of 2009. This page provides - Iceland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
GDP Growth Rate in Iceland is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland GDP Growth Rate is projected to trend around 0.80 percent in 2024 and 0.90 percent in 2025, according to our econometric models.