A new issue of Statistical Series, presenting an economic forecast for 2022–2027, is now available. The economy is expected to grow by 5.1% this year and 2.9% in 2023. GDP grew by 8.6% in the first quarter. Domestic demand has been strong so far this year, but uncertainty surrounding the domestic and foreign inflation outlook […]

GDP grew by 4.3% in 2021, mainly driven by growth in private consumption and investment. Uncertainty due to the pandemic has diminished, but this is offset by increased uncertainty over Russia's invasion of Ukraine and the consequences of the war for the world economy. The economy is expected to grow by 4.6% this year and […]

A new issue of Statistical Series, presenting an economic forecast for 2021–2027, is now available. GDP contracted by 6.5% last year. Private consumption declined by 3% and investment by 8.7%, while public consumption grew by 4.5%. The economy is projected to grow by 3.9% this year.

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.

A total of 7.7% of the Icelandic population, aged 15 years and over, experienced symptoms of depression in 2019. This proportion was slightly higher in Iceland compared with the EU average of 7.0% according to figures from Eurostat. Among European countries, the proportion was highest in France, 10.8%, and lowest in Serbia, 2.3%.

In 2020, the consumption of alcoholic beverages in Iceland was 2,207 thousand liters of pure alcohol compared with 1,708 thousand liters in 2010. Pure alcohol consumption per capita was 7.41 liters in 2020 compared with 6.79 liters in 2010, peaking in 2017 at 7.75 liters. Figures have been updated along with figures for smoking habits.

In 2020, the number of hospital beds was 1,039 compared with 1,009 in 2019. The number of hospital beds per 100,000 inhabitants was 283.5 in 2020 but 279.8 the year before. Small changes were noted in the numbers of rehabilitative, long-term and psychiatric care beds. Figures have been updated.

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.

Preliminary results of the Tourism Satellite Accounts (TSAs) indicate that tourism as a proportion of GDP amounted to 4.2% in 2021 compared with 3.6% in 2020. For comparison, these estimates were, on average, 8.1% in the period from 2016 to 2019, prior to the Covid-19 pandemic.

Houshold gross disposable income is estimated to have increased by 9.64% in the first quarter of 2022, compared with last year‘s corresponding quarter. Disposable income per capita amounted to little over 1.1 million ISK in the quarter and is estimated to have increased by 7.49% compared with the first quarter of 2022. Due to increased […]

Gross domestic product (GDP) is estimated to have increased by 8.6% in volume in the first quarter of 2022 compared with the same period last year. Gross domestic final expenditure increased by 11.2% in volume during the quarter, where household final consumption expenditure increased by 8.8%, government final consumption expenditure by 1.5% and gross fixed […]

Total financial assets of Iceland’s domestic sector stood at 31,770 billion ISK or 1,085% of Gross Domestic Product (GDP) in year-end 2020. Total financial liabilities stood at 30,792 billion ISK or 1,051% of GDP according to newly updated figures from Statistics Iceland.

Household gross disposable income is estimated to have increased by 7.5% from 2020 to 2021. Disposable income per capita amounted to 4.4 million ISK in 2021 and is estimated to have increased by 5.6% from the previous year. The purchasing power of household disposable income per capita increased by 1.1% during the same period.