A new issue of Statistical Series presenting an economic forecast for the economy of Iceland is now available. The forecast covers the years 2022 to 2028.

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%.

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.

According to the results of national accounts, the estimated nominal value of gross domestic product (GDP) amounted to 997.8 billion ISK in the third quarter of 2022 and its growth (economic growth) 7.3% compared with the same period last year.

Total financial assets of Iceland’s domestic sector stood at 35,022 billion ISK in year-end 2021 according to preliminary data or 1,077% of Gross Domestic Product (GDP). Total financial liabilities stood at 33,618 billion ISK or 1,034% of GDP.

Household gross disposable income is estimated to have decreased by 1.5% in the second quarter of 2022, compared with last year’s corresponding quarter. In 2021, the purchasing power of household disposable income per capita increased by 5.4% from 2020.

According to preliminary annual figures for 2021, GDP amounted to 3,251 billion ISK, a 4.4% increase in volume from the previous year. Considering a 1.7% population growth in 2022, GDP per capita increased by 2.7% in 2021.

Gross domestic product (GDP) is estimated to have amounted to 913.3 billion ISK in the second quarter of 2022 and to have increased by 6.1% in volume compared with the same period of the previous year.