From Iceland — Gross GDP Increases

Gross GDP Increases

Published June 27, 2012

Iceland’s gross GDP has increased – since last summer and since the crash – to a degree surpassing the European average.
The gross GDP of the European Union has increased by 3.5% since the first quarter of 2009. By comparison, RÚV reports, Iceland’s GDP has increased by 3.7% during the same period.
There are also indications that Iceland’s growth is increasing at an accelerating rate. In the past year alone, the nation’s gross GDP has risen by 11%, while in Germany, the increase has only been by 8%.
The magazine Vísbendingar speculates that this is a sign that Iceland, while being the European country most damaged by the global financial crisis of 2008, is also the fastest recovering. The magazine attributes this rate of growth, in part, to mackerel and capelin stocks, which have been exceptionally high in Icelandic waters.

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