Non-seasonally adjusted figures indicate a year over year increase in real Gross domestic product (GDP) by 2.6% for the 3rd quarter of 2018. Total domestic expenditure increased by 0.5%. Household final consumption increased by 5.3%, government final consumption by 3.4% and gross fixed capital formation (GFCF) decreased by 5.6%. At the same time exports grew by 5.1% while imports grew by 0.6%.
In real terms, non-seasonally adjusted GDP increased by 5.0% in the first three quarters of 2018 compared with the same period of 2017. Total domestic final expenditure increased by 4.3%. Household final consumption increased by 5.4%, government final consumption by 3.5% and gross fixed capital formation by 2.7%. At the same time exports grew by 4.1% and imports grew by 2.4%. Seasonally adjusted real GDP in the 3rd quarter of 2018 remained unchanged from the previous quarter
| Quarterly national accounts, 3rd quarter of 2018 | |||||
| Current prices million ISK | Volume change on the same period of the previous year | Volume change from previous quarter,% | |||
| 3rd quarter | 3rd quarter | 1st -3rd quarter | 2nd quarter | 3rd quarter | |
| Private final consumption | 342,454 | 5.3 | 5.4 | 1.4 | 1.3 |
| Gross fixed capital formation | 162,256 | 3.4 | 3.5 | 0.6 | 0.8 |
| Gross fixed capital formation | 153,542 | -5.6 | 2.7 | 7.0 | -6.7 |
| Changes in inventories | 2,510 | -1.0 | … | … | … |
| Gross domestic final expenditure | 660,762 | 0.5 | 4.3 | 3.6 | -1.3 |
| Exports of goods and services | 398,164 | 5.1 | 4.1 | -1.5 | 1.4 |
| Imports of goods and services | -318,117 | 0.6 | 2.4 | 3.0 | -1.4 |
| Gross domestic product | 740,810 | 2.6 | 5.0 | 1.4 | 0.0 |
Gross Domestic Product 2017 – Second revision
As was stated in the publication of the annual national accounts in September 2018, due to delays in the publication of the State annual accounts for 2017, a second national accounts revision was planned in December. Publication of the General government finances 2017 - revision, scheduled for 14 September, was also postponed until 13 December. This second revision for 2017 is now published in conjunction with the quarterly accounts. Revised annual national accounts for 2017 show a 4% increase in GDP in real terms, which is unchanged from previously published results. Household final consumption increased by 7.9% in real terms compared with the previous year, government final consumption increased by 3.7% (compared with 3.1% in previous publication), while GFCF increased by 9.0% (compared with 9.5% in previous publication).
Quarterly national accounts, the 3rd quarter 2018 - publication
Statistics (see Quarterly GDP 1997-2018)