Adjusted savings: gross savings in Iceland
Iceland: Adjusted savings: gross savings was 16.0% in 2021. ▼ Falling
Adjusted savings: gross savings in Iceland, 1976–2021
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GNI.
Analysis
In 2021, adjusted savings: gross savings in Iceland stood at 16.0%.
Compared with earlier readings it is down 8.6% on the previous year and up 95.5% over ten years.
Over the whole period, adjusted savings: gross savings in Iceland peaked at 30.6% in 1977 and was at its lowest, 2.0%, in 2008.
That places Iceland 132nd out of 178 countries with data for 2021, putting it in the middle of the range.
The long-run direction has been consistently falling across the 46 years of available data.
Adjusted savings: gross savings in Iceland, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1976 | 30.2% | — |
| 1977 | 30.6% | +1.2% |
| 1978 | 29.0% | -5.2% |
| 1979 | 27.4% | -5.5% |
| 1980 | 28.0% | +2.4% |
| 1981 | 25.8% | -8.1% |
| 1982 | 23.3% | -9.5% |
| 1983 | 22.6% | -3.0% |
| 1984 | 22.1% | -2.1% |
| 1985 | 20.4% | -7.8% |
| 1986 | 22.4% | +9.5% |
| 1987 | 20.5% | -8.2% |
| 1988 | 20.4% | -0.6% |
| 1989 | 20.5% | +0.5% |
| 1990 | 20.2% | -1.6% |
| 1991 | 19.2% | -4.8% |
| 1992 | 18.8% | -2.0% |
| 1993 | 20.7% | +10.1% |
| 1994 | 21.2% | +2.1% |
| 1995 | 20.3% | -4.3% |
| 1996 | 20.4% | +0.6% |
| 1997 | 20.9% | +2.7% |
| 1998 | 19.7% | -5.8% |
| 1999 | 17.2% | -12.7% |
| 2000 | 14.7% | -14.6% |
| 2001 | 19.1% | +29.9% |
| 2002 | 21.6% | +13.1% |
| 2003 | 17.5% | -19.2% |
| 2004 | 16.2% | -7.1% |
| 2005 | 12.8% | -21.0% |
| 2006 | 11.9% | -7.0% |
| 2007 | 15.1% | +27.0% |
| 2008 | 2.0% | -86.8% |
| 2009 | 3.8% | +89.8% |
| 2010 | 4.8% | +27.7% |
| 2011 | 8.2% | +68.5% |
| 2012 | 9.8% | +19.4% |
| 2013 | 18.2% | +86.4% |
| 2014 | 18.5% | +1.6% |
| 2015 | 20.8% | +12.6% |
| 2016 | 23.7% | +13.8% |
| 2017 | 23.1% | -2.4% |
| 2018 | 20.7% | -10.5% |
| 2019 | 24.2% | +17.2% |
| 2020 | 17.5% | -27.9% |
| 2021 | 16.0% | -8.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 29.3% | 27.4% | 30.6% | 4 |
| 1980s | 22.6% | 20.4% | 28.0% | 10 |
| 1990s | 19.9% | 17.2% | 21.2% | 10 |
| 2000s | 13.5% | 2.0% | 21.6% | 10 |
| 2010s | 17.2% | 4.8% | 24.2% | 10 |
| 2020s | 16.7% | 16.0% | 17.5% | 2 |
Countries ranked near Iceland
- 129 Fiji 16.4% compare
- 130 Republic of Moldova 16.4% compare
- 131 United Kingdom of Great Britain and Northern Ireland 16.0% compare
- 133 Palestine, State of 15.9% compare
- 134 Mali 15.8% compare
- 135 Eritrea 15.8% compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Gross capital formation (constant 2015 US$), annual growth rate 5.88 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.1585 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 15,584 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 12.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.4237 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 41,663 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 4.9 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 54.43 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is adjusted savings: gross savings in Iceland?
- Adjusted savings: gross savings in Iceland was 16.0% in 2021, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest adjusted savings: gross savings recorded in Iceland?
- The highest recorded value was 30.6% in 1977.
- What is the lowest adjusted savings: gross savings recorded in Iceland?
- The lowest recorded value was 2.0% in 2008.
- How does Iceland rank for adjusted savings: gross savings?
- Iceland ranks 132nd out of 178 countries with data for 2021.
- Is adjusted savings: gross savings rising or falling in Iceland?
- Over the last ten years it is up 95.5%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Adjusted savings: gross savings (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Gross savings are the difference between gross national income and public and private consumption, plus net current transfers. This indicator is expressed as a percentage of Gross National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.