Iceland‘s GDP is forecast to grow by 4% this year and by 2.5% in 2024. Last year's economic growth was driven by domestic demand, but this year the contribution of net exports to GDP growth is expected to increase. In the first quarter, GDP increased by 7% from the previous year, but growth is expected […]

Economic growth accelerated to 6.4% last year driven by an increase in private consumption and a robust recovery in exports. For this year, GDP is projected to grow by 3.8%. Growth in domestic demand is expected to ease but the contribution of foreign trade to economic growth will be positive.

The publication of economic forecast spring, which was scheduled today Friday March 24 2023, has been postponed until next week.

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 […]

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.

Total financial assets of Iceland’s domestic sector stood at 37,702 billion ISK in year-end 2022 according to preliminary data or 993% of Gross Domestic Product (GDP). Total financial liabilities stood at 36,694 billion ISK or 967% of GDP. Net financial assets of the domestic sector were therefore positive by 1,008 billion ISK at the end […]

Publication of a news releases on non-financial institutional sector accounts 2022 and quarterly non-financial accounts for the household sector for the second quarter of 2023, which were scheduled on Thursday 21 September 2023, has been postponed until further notice.

National account results for the second quarter of 2023 show that the GDP increased in real terms by 4.5% from the same period the previous year. The economic growth was primarily driven by the growth of export earnings that can be attributed to tourism, which has grown rapidly in recent quarters.

Preliminary results of the Tourism Satellite Accounts (TSAs) indicate that tourism as a proportion of GDP amounted to 7.8% in 2022 compared with 4.8% in 2021. For comparison, these estimates were, on average, around 8.2% in the period from 2016 to 2019, prior to the Covid-19 pandemic.

Household gross disposable income is estimated to have increased by 8.5% in the first quarter of 2023, compared with last year‘s corresponding quarter. Disposable income per capita amounted to little over 1.26 million ISK in the quarter and is estimated to have increased by 4.7% compared with the first quarter of 2022.