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Tourism largest export sector in Iceland for the first time ever

  • Published in Other

The increase in foreign currency revenues in tourism during the few past year are equal to the total foreign currency income from all cod fishing around Iceland. If the growth prediction for the next three years is accurate, the increase alone during these three years will be more than 50% of the total aluminum export revenues.

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3.3% growth in GDP in 2013 - Mostly thanks to tourism

The preliminary annual national accounts for 2013 show a 3.3% increase in Gross Domestic Product (GDP) in real terms. In 2012, GDP increased by 1.5% and by 2.7% in 2011. The economic growth in 2013 is mainly driven by a large surplus in the balance of trade while the domestic final expenditure increased modestly or by 0.1%.

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