Australia vs Iceland: Gross value added at basic prices (GVA)
Gross value added at basic prices (GVA) over time
- Australia
- Iceland
How they compare
Iceland currently reports 3.24 trillion constant LCU against 2.54 trillion constant LCU in Australia, a difference of 692.40 billion constant LCU.
That makes Iceland's figure about 1.3 times Australia's.
Across all 31 years both countries report, Iceland has been ahead every year.
Australia ranks 65th and Iceland ranks 62nd of 198 countries.
Iceland has averaged higher in every one of the 4 decades both report.
Head to head by decade
| Decade | Australia | Iceland | Difference | Ahead |
|---|---|---|---|---|
| 1990s | 1.14 trillion constant LCU | 1.48 trillion constant LCU | 349.31 billion constant LCU | Iceland |
| 2000s | 1.50 trillion constant LCU | 2.05 trillion constant LCU | 555.69 billion constant LCU | Iceland |
| 2010s | 2.00 trillion constant LCU | 2.50 trillion constant LCU | 495.57 billion constant LCU | Iceland |
| 2020s | 2.41 trillion constant LCU | 3.04 trillion constant LCU | 636.44 billion constant LCU | Iceland |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher gross value added at basic prices (gva), Australia or Iceland?
- Iceland, at 3.24 trillion constant LCU against 2.54 trillion constant LCU in Australia as of 2025.
- What is the difference in gross value added at basic prices (gva) between Australia and Iceland?
- 692.40 billion constant LCU, with Iceland ahead.
- How many years of comparable data are there for Australia and Iceland?
- 31 years are reported by both, from 1995 to 2025.
- How do Australia and Iceland rank globally for gross value added at basic prices (gva)?
- Australia ranks 65th and Iceland ranks 62nd of 198 countries.
- Where does this data come from?
- Country official statistics, National Statistical Offices (NSOs), published as Gross value added at basic prices (GVA) (constant LCU). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.