Iceland’s GDP Increases by Two Percent

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Iceland’s GDP Increases by Two Percent

The country’s (non-seasonally adjusted) GDP grew by two percent during the first nine months of 2012 when compared to the same period last year. When seasonally adjusted, GDP for the third quarter increased by 3.5 percent from the previous quarter.

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Reykjavík. Photo by Páll Stefánsson.

According to the latest data from Statistics Iceland, household final consumption increased by 3.2 percent and gross fixed capital formation increased by 14.3 percent. At the same time, government final consumption decreased by 1.1 percent.

Exports grew by 3 percent and imports by 6.6 percent.

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