Iceland GDP Growth Rate YoY
A significant portion of Iceland's economy is based on the fishing industry, which accounts for 40% of export revenues, accounts for more than 12% of GDP, and employs roughly 5% of the country's workforce. In the last decade, the country's economy has begun to diversify into manufacturing and service industries, particularly in the domains of software development, biotechnology, and tourism. When it comes to expenditures, household consumption is the most important component of GDP, accounting for 53% of total use. This is followed by government expenditure (24%) and gross fixed capital creation (17%). Exports of goods and services account for 54% of GDP, while imports account for 47%, resulting in 7% of total GDP.
A higher than expected figure should be seen as positive (bullish) for the ISK while a lower than expected figure should be seen as negative (bearish) for the ISK.