Landsframleiðsla
Landsframleiðsla refers to the total market value of all final goods and services produced within a country's borders during a specified period, usually a year or a quarter. It is the Icelandic term for Gross Domestic Product (GDP). It can be measured at current prices (nominal GDP) or at constant prices (real GDP) to remove the effects of price changes.
GDP can be estimated by different approaches. The production approach sums value added by industries; the expenditure
The main components of landsframleiðsla are private consumption, investment, government expenditure, and net exports. The relative
Uses and limitations: Landsframleiðsla serves as a primary indicator of economic performance, policy planning, and international
Data and history: Icelandic data come from Statistics Iceland, with comparable series provided by international bodies