Following a contraction of 0.7% in real GDP in 2024, the Icelandic economy is projected to return to growth in 2025, with output expected to expand by 2.2%. This recovery is expected to be primarily driven by strong domestic demand. In 2026, GDP growth is forecast to strengthen to 2.5%, largely reflecting an improvement in […]

In 2024, GDP growth slowed down after significant growth in previous years. According to national accounts, gross domestic product increased by 0.5% in 2024. GDP growth is expected to reach 1.8% in 2025, driven by rising domestic demand while the growth contribution from net exports will be negative.

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.

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.

Household gross disposable income is estimated to have increased by 9% in the first quarter of 2025, compared with last year‘s corresponding quarter. Disposable income per capita amounted to little under 1.6 million ISK in the quarter and is estimated to have increased by 7.5% compared with the first quarter of 2024.

Publication of quarterly non-financial accounts for the household sector 1st quarter 2025, which was scheduled 19 June 2025, has been postponed until 26 June.

According to preliminary estimates, real gross domestic product (GDP) increased by 2.6% in the first quarter of 2025, compared with the same quarter of the previous year. The main driver of growth was gross fixed capital formation, which rose by 18%, while household final consumption grew by 2.3% and government final consumption by 2.6%.

Publication of a news release on tourism satellite accounts 2024, which was scheduled today 23 April 2025, has been postponed until further notice.

Household gross disposable income increased by 10.8% from 2023 to 2024 according to preliminary figures. Disposable income per capita amounted to roughly 6.3 million ISK in 2024 and is estimated to have increased by 8.8% from the previous year with 2% increase in population. The purchasing power of household disposable income per capita increased by […]