Annual GDP growth in Iceland
Iceland: Annual GDP growth was -1.0% in 2024. ◆ Volatile
Latest (2024)
-1.0%
Change on year
down 118.7%
World rank
182nd
of 196 countries
All-time high
8.8%
in 2022
All-time low
-8.3%
in 2009
Years of data
25
2000–2024
Annual GDP growth in Iceland, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
In 2024, annual gdp growth in Iceland stood at -1.0%.
Compared with earlier readings it is down 118.7% on the previous year and down 150.7% over ten years.
Over the whole period, annual gdp growth in Iceland peaked at 8.8% in 2022 and was at its lowest, -8.3%, in 2009.
Iceland ranks 182nd of 196 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 4.9% | — |
| 2001 | 3.8% | -21.7% |
| 2002 | 0.5% | -85.9% |
| 2003 | 2.3% | +320.7% |
| 2004 | 7.6% | +234.1% |
| 2005 | 7.0% | -7.8% |
| 2006 | 5.7% | -19.3% |
| 2007 | 8.7% | +54.1% |
| 2008 | 1.7% | -80.6% |
| 2009 | -8.3% | -589.6% |
| 2010 | -2.2% | -73.3% |
| 2011 | 1.4% | -162.1% |
| 2012 | 1.2% | -15.3% |
| 2013 | 3.6% | +207.6% |
| 2014 | 1.9% | -46.8% |
| 2015 | 3.8% | +96.9% |
| 2016 | 6.2% | +65.0% |
| 2017 | 3.5% | -44.0% |
| 2018 | 4.7% | +33.7% |
| 2019 | 1.1% | -75.6% |
| 2020 | -6.6% | -683.9% |
| 2021 | 5.2% | -178.0% |
| 2022 | 8.8% | +70.3% |
| 2023 | 5.2% | -41.2% |
| 2024 | -1.0% | -118.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.4% | -8.3% | 8.7% | 10 |
| 2010s | 2.5% | -2.2% | 6.2% | 10 |
| 2020s | 2.3% | -6.6% | 8.8% | 5 |
Countries ranked near Iceland
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)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 89,219 current US$ per person (2025)
- GNI (current US$), annual growth rate 17.05 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9978 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 98,107 current US$ per person (2025)
- GNI (current LCU), annual growth rate 8.97 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 128.16 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is annual gdp growth in Iceland?
- Annual gdp growth in Iceland was -1.0% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual gdp growth recorded in Iceland?
- The highest recorded value was 8.8% in 2022.
- What is the lowest annual gdp growth recorded in Iceland?
- The lowest recorded value was -8.3% in 2009.
- How does Iceland rank for annual gdp growth?
- Iceland ranks 182nd out of 196 countries with data for 2024.
- Is annual gdp growth rising or falling in Iceland?
- Over the last ten years it is down 150.7%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual GDP growth (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).