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Macro note: 4.6% GDP growth last year

Statistics Iceland released preliminary figures for the national accounts in 2018 on 1 March and revised numbers for 2015 to 2017.

In real terms, the economy grew by 4.6% in 2018. Domestic demand increased by 4.1%, exports by 1.6% and imports by 0.1%. Net foreign trade contribution to GDP growth was 0.7%. 2018 is the eighth consecutive year of economic expansion, following a contraction in 2009 and 2010. The main drivers of growth have been export of services, investment and private consumption.

Macro note: 4.6% GDP growth last year