Iceland - KDNK Kadar Pertumbuhan Tahunan

The economy of Iceland expanded 1.4 percent year-on-year in the second quarter of 2019, rebounding from a revised 0.9 percent contraction in the previous quarter. Public expenditure increased faster (3.1 percent vs 2.8 percent in Q1) while inventories rebounded (0.6 percent vs -2.9 percent). In addition, net foreign trade contributed positively to growth as exports declined 6.9 percent (from 1.8 percent in Q1) and imports dropped at a faster 12.4 percent (from -8.4 percent in Q1) while gross fixed capital formation went down at a much softer rate (-14.2 percent vs -19.1 percent). On the other hand, household spending slowdown (2.2 percent vs 2.3 percent in Q1). On a quarterly basis, the economy advanced 2.8 percent, after a revised 2.4 percent contraction in the previous quarter.

The economy of Iceland expanded 1.7 percent year-on-year in the first quarter of 2019, easing from a 4.0 percent expansion in the previous period. It is the lowest growth rate since the first quarter of 2014 when the economy contracted 1 percent. Household spending slowdown (2.8 percent compared to 3.3 percent in Q4) while both gross fixed capital formation (-9.4 percent vs 2.5 percent) and inventories (-2.9 percent vs 0.9 percent) fell. Meanwhile, public expenditure increased faster (2.8 percent vs 2.6 percent). Regarding net foreign trade, exports went up 2.6 percent (from -5.9 percent in Q4) while imports dropped 8.1 percent (from 6.0 percent in Q4). On a quarterly basis, the economy advanced 0.6 percent, after a 1.7 percent expansion in the previous quarter.

Iceland’s gross domestic product advanced 5.2 percent year-on-year in the fourth quarter of 2018, accelerating from a downwardly revised 2.5 percent growth in the previous period. Fixed investment rebounded (8.0 percent from -8.2 percent in Q3), boosted by both residential construction (9.4 percent vs -2.8 percent) and government services (85.1 percent vs 17.6 percent). On the other hand, a slowdown was seen in private consumption (3.3 percent from 5.4 percent) and government expenditure (2.6 percent from 3.3 percent). Also, exports fell 5.9 percent (from a 5.3 rise percent in Q3) while imports declined 6 percent (from -0.2 percent in Q3). On a quarterly basis, the economy grew 2.7 percent, after stalling in the previous quarter. For 2018 as a whole, the economy expanded 4.9 percent, after a 4.6 percent growth in 2017, flash estimates showed.