GDP is expected to increase by 0.1% this year. According to national accounts, GDP contracted by 1.9% in the first half of the year, impacted by negative effects from foreign trade and changes in inventories, partly due to a shock in marine exports.

Economic growth slowed down in the second half of last year and in the first quarter of this year the gross domestic product decreased by 4% from last year. The economy is projected to grow by 0.9% this year, boosted by domestic demand. In 2025, GDP growth is expected to reach 2.6%, driven by private […]

Economic activity has slowed recently. The economy grew by 4.1% last year. Gross domestic product is forecast to increase by 1.5% this year, driven by private consumption, foreign trade and public consumption.

The publication of the economic forecast, which was to be published tomorrow, Tuesday, 19 March 2024, has been postponed.

Iceland’s GDP is projected to increase by 3.6% this year. Growth dynamics are changing as GDP growth will be driven by net exports while growth in domestic demand is expected to ease, following robust growth for the last two years. In 2024 GDP is forecast to grow by 2.1% as export growth eases.

Consumption of alcoholic beverages based on sales figures in Iceland was 2,389 thousand litres of pure alcohol in 2023 compared with 2,418 thousand litres in 2022. Measured in pure alcohol per capita 15 years and older the consumption was 7.7 litres in 2023, which was a 4% decrease from 2022 when the consumption was 8.1 […]

Alcohol consuption In Iceland was approximately 2,418 thousand liters of pure alcohol in 2022, compared with just over 2,475 thousand liters in 2021. The total consumption per capita 15 years and older was 7.8 liters in 2022 compared with 8.2 liters in 2021. Figures have been updated.

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.

Preliminary figures of the Tourism Satellite Accounts (TSAs) indicate that tourism, as a proportion of GDP, amounted to 8.1% in 2024. These estimates were 8.2% in 2023, and, on average, 8.2% in the period from 2016 to 2019, prior to the Covid-19 pandemic.

Results for the year 2024 indicate that gross domestic production (GDP) increased by 0.5% in volume with nominal level estimated at 4,616 billion ISK. In the fourth quarter, GDP increased by 2.1% in real terms, national expenditure grew by 6.1%, but this was offset by a negative contribution from external trade.

have increased by 6.2% compared with the third quarter of 2023. Due to inflation rate, the purchasing power of household disposable income per capita in the third quarter of 2024 increased by 0.3% compared with last year’s corresponding quarter, but the consumer price index increased by 5.9% during the same period.

According to preliminary figures from the National Accounts, the nominal Gross Domestic Product (GDP) amounted to 1,199 billion ISK in the third quarter of 2024, reflecting a real contraction of 0.5% compared with the same period in the previous year. The contraction is largely attributed to a weaker balance of external trade in services.

According to preliminary figures, household gross disposable income is estimated to have increased by 13.6% in 2023, compared with the previous year. Disposable income per capita amounted to just over 5.8 million ISK and is estimated to have increased by 10.8%.