An error was found in the press release on quarterly national accounts for the 1st quarter 2018 published this morning. The error was in calculation of import and export of services which affected the year over year increase in real GDP. 

The error has been corrected.

Non-seasonally adjusted figures indicate a year over year increase in real GDP by 6.6% for the 1st quarter of 2018. Total domestic expenditure increased by 6.8%. Household final consumption increased by 5.9%, government final consumption by 2.9% and gross fixed capital formation by 11.6%. At the same time exports grew by 10.2% and imports by 10.9%.

Statistics Iceland sincerely apologizes for the inconvenience.

Statistical tables will be corrected accordingly.

Quarterly national accounts, 1st quarter 2018 - Statistical Series