Friday - 3 September 2010
No. 163/2010

Gross Domestic Product 2009 - Revision

The revised annual national accounts for 2009 show a 6.8% decrease in Gross Domestic Product (GDP) in real terms. In the provisional data from March 2010 GDP was estimated to have decreased by 6.5%. In 2008, GDP grew at a rate of 1% and 6% in 2007.

The decrease in GDP during 2009 is due to a 20.9% decline in domestic expenditure. Household final consumption decreased by 16%, government final consumption by 1.7% and fixed capital formation by 50.9%. At the same time, exports grew by 7.4% while imports declined by 24.1%. This resulted in a considerable improvement in the balance on goods and services, from a deficit of 42 billion ISK in 2008 to a surplus of 132 billion ISK in 2009.

Gross Domestic Product 2009 - Revision  - Statistical Series


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