The revised annual national accounts for 2010 show a 4% decrease in Gross Domestic Product (GDP) in real terms. In 2009, GDP decreased by 6.7% but grew at a rate of 1.3% 2008.

In 2010 domestic expenditure decreased by 2.7%. Household final consumption decreased by 0.4%, government final consumption by 3.4% and fixed capital formation by 8%. At the same time, exports grew by 0.4% and imports by 4%. However, owing to improved terms of trade there was an increase in surplus in the balance of goods and services from 126 billion ISK in 2009 to 154 billion ISK in 2010.

Gross Domestic Product 2010 - Revision - Statistical Series