Statistics Iceland releases now the first provisional annual national accounts for 2010. The present figures show that Gross Domestic Product (GDP) decreased by 3.5% in real terms. In 2009, GDP decreased by 6.9% but grew at a rate of 1.4% 2008.

Domestic expenditure decreased by 2.5%. Household final consumption decreased by 0.2%, government final consumption by 3.2% and fixed capital formation by 8.1%. At the same time, exports grew by 1.1% and imports by 3.9%. This resulted in a surplus in the balance on goods and services of 162 billion ISK in 2010 compared with 129 billion ISK in 2009.

Gross Domestic Product 2010  - Statistical Series

Statistics