Iceland: Economic growth, quarterly

* indicates monthly or quarterly data series

Economic growth, percent change in quarterly real GDP

 Latest value -4
 Reference Q1 2024
 Measure percent
 Data availability Q1 1995 - Q1 2024
 Average 3.38
 Min - Max -11.5 - 13.4
 Source Statistics Iceland
The latest data from Q1 2024 show economic growth of -4 percent, which is a decrease from the rate of growth of 0.6 percent in the previous quarter and a decrease compared to the growth rate of 8.9 percent in the same quarter last year. The economic growth time series for Iceland cover the period from Q1 1995 to Q1 2024. During that time span, the average growth rate for Iceland was 3.38 percent. The lowest rate of growth of -11.5 percent was recorded in Q2 2020 while the highest growth rate was 13.4 percent in Q1 1999. See more information about that indicator and compare to other countries on our Economic growth page.
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* indicates monthly or quarterly data series

Recent values chart
Iceland - Economic growth, quarterly  - recent values

Historical chart
Iceland - Economic growth, quarterly  - historical chart - 1995-2024
Measure: percent
Source: Statistics Iceland

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Definition: The percent change in the Gross Domestic Product from the same quarter last year using constant prices.

 Related indicators Latest value Reference Measure
 Economic growth 7.24 2022 percent
 GDP, constant dollars 21.6 2022 billion U.S. dollars
 GDP, current U.S. dollars 28.06 2022 billion U.S. dollars
 GDP per capita, current dollars 73,466.78 2022 U.S. dollars
 GDP per capita, PPP 55,567 2022 U.S. dollars
 GDP per capita, constant dollars 56,429.30 2022 U.S. dollars
 Productivity, relative to the U.S. 98.52 2022 index points
 Productivity, current USD 90.1 2022 USD per hour worked
 Economic growth, quarterly 2.10 Q3/2023 percent
 Economic growth Q-on-Q -2.50 Q3/2023 percent
 Gross Domestic Product (GDP) 1,121.98 Q3/2023 billion
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