The economy of Iceland expanded 11.3 percent year-on-year in the last three months of 2016, following a downwardly revised 9.6 percent rise in the previous period. It is the highest growth rate since the last quarter of 2007, boosted by rising household spending (7.2 percent compared to 5.7 percent in Q3) while a slowdown was recorded for gross fixed capital formation (18.6 percent compared to 20.9 percent in Q3); government spending (1.7 percent compared to 1.8 percent in Q3); exports (14 percent compared to 17 percent in Q3) and imports (8.8 percent compared to 17.7 percent in Q3). Considering full 2016, the GDP expanded 7.2 percent, higher than 4.1 percent in 2015. GDP Annual Growth Rate in Iceland averaged 3.33 percent from 1998 until 2016, reaching an all time high of 13.40 percent in the first quarter of 1999 and a record low of -9.30 percent in the fourth quarter of 2009.
Iceland’s economy depends heavily on the fishing industry, which provides 40 percent of export earnings, more than 12 percent of GDP, and employs nearly 5 percent of the work force. Its economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of software production, biotechnology, and tourism. On the expenditure side, household consumption is the main component of GDP and accounts for 53 percent of its total use, followed by government expenditure (24 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 54 percent of GDP while imports account for 47 percent, adding 7 percent of total GDP. This page provides – Iceland GDP Annual Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland GDP Annual Growth Rate – actual data, historical chart and calendar of releases – was last updated on March of 2017.
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- Croatia GDP Annual Growth Rate Croatia’s gross domestic product advanced 3.4 percent year-on-year in the fourth quarter of 2016, following a 2.9 percent growth in the previous period, according to preliminary estimates. It was the strongest expansion since the first quarter of 2008, boosted by household consumption (3.6 percent vs 3.4 percent in Q3) and investments (4.6 percent from 2.9 percent). Meanwhile, the growth slowed for government expenditure (1.8 percent vs 2.1 percent in Q2). The contribution of net foreign demand was negative (-0.3 percent), as exports rose 9.7 percent (6.3 percent in Q3) and imports also advanced 9.7 percent (6 percent in Q3). On...
- Tunisia GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Tunisia expanded 1.10 percent in the fourth quarter of 2016 over the same quarter of the previous year. GDP Annual Growth Rate in Tunisia averaged 3.36 percent from 2001 until 2016, reaching an all time high of 7.40 percent in the first quarter of 2004 and a record low of -2.20 percent in the third quarter of 2011.
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- Iceland GDP Growth Rate The economy of Iceland expanded 2.6 percent on quarter in the last three months of 2016, slowing from a downwardly revised 4.5 percent expansion in the previous period but marking the fourth consecutive quarter of growth. Exports slowed (2.7 percent compared to 4.8 percent in Q3) and imports went up 0.7 percent, recovering from a 1.6 percent drop in Q3. In contrast, household spending rose faster (2.5 percent compared to 0.6 percent in Q3) and gross fixed capital formation also increased more (4.3 percent compared to 1.1 percent in Q3) while government consumption growth was steady at 0.4 percent. Year-on-year,...
- Slovenia GDP Annual Growth Rate The Slovenian economy expanded 2.6 percent year-on-year in the fourth quarter of 2016, compared to a downwardly revised 2.5 percent growth in the previous period. The growth was driven by household spending (4.1 percent from 2.1 percent in Q3); government expenditure (2.8 percent from 1.7 percent) and gross fixed capital formation (0.9 percent from -2.5 percent). The net trade contributed negatively (-0.8 percent), as exports rose 4.6 percent (5.6 percent in Q3) while imports increased at a faster 6.3 percent (5 percent in Q3). Quarter-on-quarter, the GDP advanced 1.2 percent. In 2016, the economy expanded 2.5 percent, following 2.3 percent...
- Brunei Balance of Trade Brunei trade surplus decreased 41.5 percent year-on-year to BND 203.3 million in December of 2016 compared to a BND 347.7 million surplus a year earlier. Exports fell 23.7 percent, driven by lower sales of: mineral fuels (-27.7 percent), namely liquefied natural gas (-48.6 percent), and manufactured goods (-21.6 percent). Imports declined 4.5 percent due to lower purchases of: machinery and transport equipment (-11.5 percent); manufactured goods (-18.4 percent); miscellaneous manufactured articles (-7.2 percent); food (-3 percent) and crude materials inedible (-45.6 percent). Main export partners were Japan (30.6 percent of total exports); Malaysia (11.3 percent); China (11.1 percent). The highest...
- Argentina GDP Annual Growth Rate
The economy of Argentina shrank 2.1 percent year-on-year in the fourth quarter of 2016, following a downwardly revised 3.7 percent decline in the previous period and worse than market expectations of a 2.0 percent contraction. Slower contraction was reported for: investment (-7.7 percent vs -8.2 percent in Q3) and private spending (-2.1 percent vs -2.9 percent) while government spending declined by 2.0 percent (+0.9 percent in Q3). Meanwhile, exports rebounded 7.7 percent (-1.8 percent in Q3) and imports grew by 2.1 percent (-0.7 percent in Q3). On a quarterly basis, the economy expanded by 0.5 percent compared...
- Finland GDP Annual Growth Rate The Finnish gross domestic product advanced 1.3 percent year-on-year in the fourth quarter of 2016, better than a preliminary reading of 0.2 percent, and following an upwardly revised 1.9 percent growth in the previous period, final data showed. Fixed investment was the main driver of growth (8.1 percent from 4.5 percent in Q3), while household consumption increased at a slower pace (2 percent from 2.3 percent) and government spending contracted (-1.3 percent from 0.5 percent). On a quarterly basis, the economy showed no growth, compared to an upwardly revised 0.6 percent growth in the third quarter. In 2016, the economy...
- Norway Balance of Trade
Norway recorded a trade surplus of 23.54 NOK billion in February of 2017, a surge of 80.8 percent from the same month a year earlier, as exports jumped while imports fell. Year-on-year, sales grew by 18.0 percent to 71.24 NOK billion, driven by ships and oil platforms (728.5 percent), natural gas condensates (633.8 percent), crude oil (51.9 percent) and natural gas (21.8 percent). Imports declined by 3.7 percent to 47.71 NOK billion, mainly due to a 12.1 percent fall in purchases of food and live animals, a 10.3 percent drop in purchases of beverages and tobacco and...
- Singapore Balance of Trade Singapore recorded a trade surplus of 3.29 SGD billion in January of 2017, compared to a 5.80 SGD billion surplus a year earlier. It was the smallest trade surplus since October 2014, as total exports increased by 11.1 percent (following a 9.2 percent rise in December) while total imports surge 21.0 percent (compared to a 13.2 percent growth in the preceding month). Total trade rose 15.6 percent, after a 11.0 percent increase in a month earlier. In December 2016, trade surplus came in at 6.12 SGD billion. Balance of Trade in Singapore averaged 735.28 Million SGD from 1964 until 2017,...
- Greece GDP Annual Growth Rate
Greece’s economy contracted by an annual 1.1 percent percent in the fourth quarter of 2016 versus a previous flash estimate of 0.3 percent growth, final figures showed. In 2016, the country’s GDP shrank 0.1 percent, from an initial estimate of a 0.3 percent growth rate. GDP Annual Growth Rate in Greece averaged 0.82 percent from 1996 until 2016, reaching an all time high of 6.80 percent in the fourth quarter of 2003 and a record low of -10.20 percent in the first quarter of 2011.
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- Peru Balance of Trade
Peru trade balance shifted to USD 150 million surplus in January of 2017 from USD 507 million gap in the same period of the previous year. Sales jumped 25.9 percent to USD 3.1 billion, mainly driven by fisheries (483.3 percent), agriculture (31.1 percent), miseries (22.7 percent), oil and gas (97.9 percent), metallurgy and jewellery (40.9 percent). Imports fell 0.5 percent to USD 3 billion, led by industrial capital goods (-4.8 percent), transport equipment (-23.6 percent) and building materials (-41.4 percent). Balance of Trade in Peru averaged 75.02 USD Million from 1957 until 2017, reaching an all time...
- Senegal GDP Annual Growth Rate
The economy of Senegal expanded 4 percent year-on-year in the fourth quarter of 2016, following a 6 percent growth in the previous period. Production rose less in services (4.6 percent from 6.2 percent in Q3), namely transport (4.1 percent from 29.5 percent), mining (22.5 percent from 24.4 percent) and fishing (12.5 percent from 15.8 percent) and manufacturing shrank 1.7 percent (3.9 percent in Q3). In contrast, output increased faster for agriculture (6.9 percent from 5.7 percent). On a quarterly basis, the GDP expanded sharply by 19.8 percent after falling by 0.3 percent in the previous quarter. Considering...
- Sweden GDP Annual Growth Rate The Gross Domestic Product in Sweden expanded 2.30 percent year-on-year in the fourth quarter of 2016, slightly below a downwardly revised 2.4 percent growth in the previous period and market expectations of 2.4 percent. Considering full 2016, the economy expanded 3.3 percent. GDP Annual Growth Rate in Sweden averaged 2.66 percent from 1994 until 2016, reaching an all time high of 7.70 percent in the fourth quarter of 2010 and a record low of -6.10 percent in the first quarter of 2009. Export Data API Access Please Paste this Code in your Website source: tradingeconomics.com Sweden has an economy heavily...
- Macau Balance of Trade
Macau trade deficit increased to MOP 4.28 billion in February of 2017, compared to a MOP 4.08 billion gap in a year earlier. Exports rose by 27.24 percent to MOP 0.90 billion, driven by tobacco & wine (99.6 percent), diamond & diamond jewellry (93.6 percent), non-textiles (32.4 percent), electronic components (14.2 percent), and watches (8.5 percent). Imports increased by 9.1 percent to MOP 5.18 billion, mainly boosted by watches (50.5 percent), followed by gold jewellry (20.6 percent), handbags & wallets (18.5 percent), garment & footwear (6.3 percent), mobile phone (5.9 percent), and food & beverages (3.4 percent)....
- Saudi Arabia GDP Annual Growth Rate
Saudi Arabia’s GDP expanded 1.2 percent year-on-year in the last three months of 2016, higher than a 3-1/2-year low growth of 0.9 percent in previous quarter. The oil sector rose faster (4 percent compared to 3.6 percent in the previous period) and the non-oil sector recovered (0.4 percent compared to -0.7 percent in the previous quarter). GDP Annual Growth Rate in Saudi Arabia averaged 4.69 percent from 1969 until 2016, reaching an all time high of 27.49 percent in the fourth quarter of 1974 and a record low of -11.10 percent in the fourth quarter of 1982....
- Iceland Imports
Imports to Iceland declined 6.6 percent year-on-year to ISK 42.4 billion in February of 2017, mainly driven by food and beverages (-11.4 percent from -2.6 percent); fuels and lubricants (-13.8 percent from +7.5 percent), transport equipment (-18.4 percent from -32.3 percent); capital goods (-8.7 percent from -7.4 percent) and industrial supplies (-5.9 percent from -3.2 percent). Imports in Iceland averaged 12488.03 ISK Million from 1960 until 2017, reaching an all time high of 66338.70 ISK Million in June of 2015 and a record low of 1.21 ISK Million in January of 1960.
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- Denmark GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Denmark expanded 2.30 percent in the fourth quarter of 2016, accelerating from a 1.5 percent growth in the previous period. GDP Annual Growth Rate in Denmark averaged 1.60 percent from 1991 until 2016, reaching an all time high of 6.50 percent in the fourth quarter of 1994 and a record low of -6.20 percent in the second quarter of 2009.
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On the expenditure side, household consumption is...
- Brunei GDP Annual Growth Rate
Brunei’s economy shrank 3.6 percent year-on-year in the December quarter of 2016, the same pace as in the previous period. The contraction was mainly driven by manufacture of liquefied natural gas and methanol (-13.4 percent from -2 percent in Q3); wholesale and retail trade (-7 percent from -10.6); oil and gas mining (-3.9 percent from -4.3 percent) and construction (-1.6 percent from -6.7 percent). By contrast, output recovered for agriculture, forestry and fishery (1.6 percent from -5.1 percent) and government services (0.1 percent from -4 percent). Considering full 2016, economy contracted 2.5 percent compared with 0.4 fall...
- Pakistan GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Pakistan expanded 4.71 percent in 2016 from the previous year. GDP Annual Growth Rate in Pakistan averaged 4.91 percent from 1952 until 2016, reaching an all time high of 10.22 percent in 1954 and a record low of -1.80 percent in 1952.
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In Pakistan, services are the biggest sector of the economy and account for 53 percent of total GDP. Within services the most important segments are:...
- Mongolia Balance of Trade
Mongolia recorded a trade surplus of 183 USD Million in February of 2017. Balance of Trade in Mongolia averaged -20.28 USD Million from 1997 until 2017, reaching an all time high of 362.30 USD Million in December of 2016 and a record low of -369.70 USD Million in July of 2012.
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2017-01-17
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