The Icelandic economy continues to grow according to new figures released by Statistics Iceland. Icelandic Gross Domestic Product (GDP) grew by 4.2% in real terms in the first six months of 2016, compared to the same period in 2015.
This growth is significantly above OECD averages and is also on track to be higher than the long-term average for Iceland. According to the Icelandic Central Bank the Icelandic economy grew on average by 3.8% annually, in real terms, between 1946 and 2010.
According to revised annual national accounts GDP increased by 4.2% in real terms in 2015. In 2014, GDP increased by 1.9% and by 4.4% in 2013.
Similar to last year the economic growth is mainly driven by increase in household final consumption and gross fixed capital formation.
The Icelandic economy continues to grow according to new figures released by Statistics Iceland. Icelandic Gross Domestic Product (GDP) grew by 4.2% in real terms in the first six months of 2016, compared to the same period in 2015.
This growth is significantly above OECD averages and is also on track to be higher than the long-term average for Iceland. According to the Icelandic Central Bank the Icelandic economy grew on average by 3.8% annually, in real terms, between 1946 and 2010.
According to revised annual national accounts GDP increased by 4.2% in real terms in 2015. In 2014, GDP increased by 1.9% and by 4.4% in 2013.
Similar to last year the economic growth is mainly driven by increase in household final consumption and gross fixed capital formation.
