Positive economic development in Iceland

Iceland’s GDP (gross domestic product) grew by 3.5 percent in real terms in 2013, according to Statistics Iceland. It’s the most significant increase in GDP in six years, Iceland Review reports. 

The economic growth in 2013 is mainly driven by a large surplus in the balance of trade while the domestic final expenditure decreased slightly, or by 0.3 percent.

Exports grew by 6.9 percent and imports by 0.4 percent. This resulted in an ISK 156 billion (USD 1.31 billion, EUR 1.02 billion) surplus in the balance of trade in goods and services in 2013.

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