7 March 2022 - Landsbankinn
According to estimates by Statistics Iceland, the Icelandic economy grew by 4.3% last year, 4.4% in Q4. The fourth quarter was the third consecutive quarter of positive economic growth.
Last week’s highlights
- According to estimates by Statistics Iceland, economic growth was 4.3% last year, 4.4% in Q4. The fourth quarter was the third consecutive quarter of positive economic growth. Economic growth in Q4 was somewhat lower than in the Q2 and Q3, when it was 6.6% and 6.8% respectively. The share of tourism in GDP last year was 5%.
- The current account deficit was ISK 90bn (2.8% of GDP) last year. 2021 was the first year since 2012 that a current account deficit was measured. Despite the trade deficit, the net international investment position improved by ISK 315bn (9.4% of GDP) last year.
The week ahead
- Icelandair Group publishes traffic data today.
- On Wednesday, the Icelandic Tourist Board publishes departures from Keflavík International Airport and the Directorate of Labour releases unemployment numbers for February.
Markets and Economic Overview
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