Thursday - 8 March 2012
3.1% growth in GDP in 2011
Statistics Iceland releases now the first provisional annual national accounts for 2011. The present figures show that Gross Domestic Product (GDP) increased by 3.1% in real terms. In 2010, GDP decreased by 4% and by 6.8% in 2009.
In 2011 domestic expenditure increased by 4.7%. Household final consumption increased by 4% and gross fixed capital formation by 13.4% while government final consumption decreased by 0.6%. At the same time, exports grew by 3.2% and imports by 6.4%. This resulted in a surplus in the balance on goods and services of 133 billion ISK in 2011 compared with 154 billion ISK in 2010.
The growth in gross fixed capital formation is partly due to imports of ships and aircraft, with marginal impact on GDP. Excluding imports of ships and aircraft, gross fixed capital formation increased by 7.4% in 2011.
Gross Domestic Product 2011 - Statistical Seriees