GDP contracted by 6.6% in 2020 according to updated national accounts figures. Private consumption declined by 3.3%, investment by 6.8% while public consumption grew by 3.1%. Economic growth is expected to be 2.6% this year. The growth will be stronger next year, with GDP increasing by 4.8%.

The economic forecast will be published today Monday 22 March at 16:30 to coincide with the publication of the fiscal plan by the Ministry of Finance and Economic Affairs.

Publication of economic forecast in March, which was scheduled tomorrow 19 March 2021, has been postponed until 22 March 2021.

A new issue of Statistical Series, presenting an economic forecast for 2020–2026, is now available. GDP is expected to decrease by 7.6% in 2020. A recovery is expected next year with GDP growth of 3.9%.

GDP is expected to decrease by 8.4% in 2020. The poor outlook this year can be attributed to the Covid-19 pandemic, which has limited cross-border transport and had a significant impact on tourism in Iceland.

Figures have been updated

In 2018 about one third of the Icelandic population had a long standing illness. Over the past ten years the proportion of individuals limited in their daily life because of health issues has increased. In 2008, the proportion was 16.1% but had risen to 26.0% ten years later.

Figures have been updated

Consumption of alcoholic beverages based on sales figures in Iceland was 2,015 thousand litres of pure alcohol in ...

One out of every ten residents in Iceland eats five or more portions of fruits and vegetables per day, or 10%, acc...

Household gross disposable income is estimated to have decreased by 0.3% in the second quarter of 2021, compared with last year’s corresponding quarter. In 2020, the purchasing power of household disposable income per capita increased by 2.5% from 2019.

Total financial assets of Iceland’s domestic sector stood at 31,607 billion ISK in year-end 2020 according to preliminary data or 1,075% of Gross Domestic Product (GDP).

In 2020, roughly 12,600 persons were employed in tourism in Iceland according to statistics on employment in tourism and its share in the Icelandic labour market which Statistics Iceland has released for the first time.

Alongside with the publication of Q2 2021 figures of national accounts, Statistics Iceland publishes first preliminary figures for the year 2020, but provisional GDP figures based on the quarterly accounts were published on February 28th 2021. According to preliminary annual figures for 2020, GDP amounted to 2,941 billion ISK, a 6.5% decrease in volume from […]

After the Covid-19 pandemic triggered a historically sharp economic contraction in the second quarter of 2020, as GDP decreased by 10.5% in volume compared with the same period in 2019, the economy bounced back in the second quarter this year.