Gross Domestic Product 2007

  • Statistical Series
  • 13. March 2008
  • Vol 93, Issue 17
  • ISSN: 1670-4665

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Statistics Iceland releases now the first provisional national accounts for 2007. The present figures show a rate of growth of Gross Domestic Product (GDP) of 3.8% in real terms. This growth is slightly below the growth in 2006, 4.4%. In 2005 GDP grew at a rate of 7.5% and by 7.7% in 2004. The growth in GDP during last year can mainly be explained by 11% growth in exports (and considerably more if export of aircraft is included, or 18%) and by 4.4% growth in household final consumption. At the same time fixed capital formation declined by 14.9% and imports by 1.4%.

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