Iceland’s GDP up 3.1 Percent

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Iceland’s GDP up 3.1 Percent

Iceland’s non-seasonally adjusted GDP in the first three quarters of 2013 increased by 3.1 percent compared to the first three quarters of 2012, according to the latest data from Statistics Iceland.

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Photo: Páll Kjartansson/Iceland Review.

At the same time, domestic expenditure decreased by 0.5 percent and household consumption by 1.3 percent while gross government consumption increased by 1.4 percent.

Meanwhile, exports grew by 4.2 percent and imports decreased by 1.9 percent.

Non-seasonally adjusted figures indicate a year-over-year increase in GDP by 4.9 percent for the third quarter of 2013. Total domestic expenditure increased by 0.6 percent in the quarter, when compared with the same quarter of the previous year.

Wages increased by 0.5 percent on average from the previous quarter.

ZR