Gross Domestic Product 2009

5. March 2010
Gross Domestic Product (GDP) in 2009 decreased by 6.5% in real terms, a record in the Icelandic national accounts. In 2008, GDP grew at a rate of 1% and 6% in 2007.

The decrease in GDP during 2009 is due to a 20.1% decline in domestic expenditure. Household final consumption decreased by 14.6%, government final consumption by 3% and fixed capital formation by 49.9%. At the same time, exports grew by 6.2% while imports declined by 24%. 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 120 billion ISK in 2009.

Gross Domestic Product 2009  - Statistical Series

Statistics
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