Divergence of GDP per capita among latecomers to the capitalist revolution in Iceland
Iceland: Divergence of GDP per capita among latecomers to the capitalist revolution was 43,438 2011$ in 2018. ▲ Rising
Latest (2018)
43,438 2011$
Change on year
up 1.1%
World rank
17th
of 145 countries
All-time high
43,438 2011$
in 2018
All-time low
8,080 2011$
in 1951
Years of data
69
1950–2018
Divergence of GDP per capita among latecomers to the capitalist revolution in Iceland, 1950–2018
Source: Maddison Project Database (2018) – processed by Our World in Data. Measured in 2011$.
Analysis
The most recent figure for divergence of gdp per capita among latecomers to the capitalist revolution in Iceland is 43,438 2011$, measured in 2018. That is the highest value across all 69 years on record.
The figure is up 1.1% on the previous year and up 6.4% over ten years.
Over the whole period, divergence of gdp per capita among latecomers to the capitalist revolution in Iceland peaked at 43,438 2011$ in 2018 and was at its lowest, 8,080 2011$, in 1951.
That places Iceland 17th out of 145 countries with data for 2018, putting it in the top quarter.
The long-run direction has been consistently rising across the 69 years of available data.
Divergence of GDP per capita among latecomers to the capitalist revolution in Iceland, year by year
| Year | 2011$ | Change |
|---|---|---|
| 1950 | 8,498 2011$ | — |
| 1951 | 8,080 2011$ | -4.9% |
| 1952 | 8,823 2011$ | +9.2% |
| 1953 | 8,886 2011$ | +0.7% |
| 1954 | 9,446 2011$ | +6.3% |
| 1955 | 10,096 2011$ | +6.9% |
| 1956 | 10,323 2011$ | +2.2% |
| 1957 | 10,079 2011$ | -2.4% |
| 1958 | 10,568 2011$ | +4.9% |
| 1959 | 10,702 2011$ | +1.3% |
| 1960 | 10,959 2011$ | +2.4% |
| 1961 | 10,728 2011$ | -2.1% |
| 1962 | 11,435 2011$ | +6.6% |
| 1963 | 12,366 2011$ | +8.1% |
| 1964 | 13,386 2011$ | +8.2% |
| 1965 | 14,100 2011$ | +5.3% |
| 1966 | 15,058 2011$ | +6.8% |
| 1967 | 14,642 2011$ | -2.8% |
| 1968 | 13,648 2011$ | -6.8% |
| 1969 | 13,880 2011$ | +1.7% |
| 1970 | 14,830 2011$ | +6.8% |
| 1971 | 16,606 2011$ | +12.0% |
| 1972 | 17,366 2011$ | +4.6% |
| 1973 | 18,277 2011$ | +5.2% |
| 1974 | 19,054 2011$ | +4.3% |
| 1975 | 18,935 2011$ | -0.6% |
| 1976 | 19,877 2011$ | +5.0% |
| 1977 | 21,465 2011$ | +8.0% |
| 1978 | 22,579 2011$ | +5.2% |
| 1979 | 23,443 2011$ | +3.8% |
| 1980 | 24,528 2011$ | +4.6% |
| 1981 | 25,284 2011$ | +3.1% |
| 1982 | 25,477 2011$ | +0.8% |
| 1983 | 24,605 2011$ | -3.4% |
| 1984 | 25,357 2011$ | +3.1% |
| 1985 | 25,990 2011$ | +2.5% |
| 1986 | 27,439 2011$ | +5.6% |
| 1987 | 29,576 2011$ | +7.8% |
| 1988 | 28,934 2011$ | -2.2% |
| 1989 | 28,652 2011$ | -1.0% |
| 1990 | 28,760 2011$ | +0.4% |
| 1991 | 28,258 2011$ | -1.7% |
| 1992 | 26,859 2011$ | -4.9% |
| 1993 | 26,834 2011$ | -0.1% |
| 1994 | 27,458 2011$ | +2.3% |
| 1995 | 27,236 2011$ | -0.8% |
| 1996 | 28,278 2011$ | +3.8% |
| 1997 | 29,939 2011$ | +5.9% |
| 1998 | 31,445 2011$ | +5.0% |
| 1999 | 32,187 2011$ | +2.4% |
| 2000 | 33,108 2011$ | +2.9% |
| 2001 | 33,794 2011$ | +2.1% |
| 2002 | 33,470 2011$ | -1.0% |
| 2003 | 33,921 2011$ | +1.3% |
| 2004 | 36,209 2011$ | +6.7% |
| 2005 | 37,884 2011$ | +4.6% |
| 2006 | 38,707 2011$ | +2.2% |
| 2007 | 41,111 2011$ | +6.2% |
| 2008 | 40,810 2011$ | -0.7% |
| 2009 | 37,702 2011$ | -7.6% |
| 2010 | 36,273 2011$ | -3.8% |
| 2011 | 36,740 2011$ | +1.3% |
| 2012 | 36,990 2011$ | +0.7% |
| 2013 | 38,258 2011$ | +3.4% |
| 2014 | 38,563 2011$ | +0.8% |
| 2015 | 39,727 2011$ | +3.0% |
| 2016 | 42,085 2011$ | +5.9% |
| 2017 | 42,978 2011$ | +2.1% |
| 2018 | 43,438 2011$ | +1.1% |
Iceland compared with similar countries
- Iceland's 43,438 2011$ is above the median for high income countries, which is 35,336 2011$, 1.2× the median. (51 countries reporting)
- Iceland's 43,438 2011$ is above the median for Europe & Central Asia, which is 27,056 2011$, 1.6× the median. (44 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 9,550 2011$ | 8,080 2011$ | 10,702 2011$ | 10 |
| 1960s | 13,020 2011$ | 10,728 2011$ | 15,058 2011$ | 10 |
| 1970s | 19,243 2011$ | 14,830 2011$ | 23,443 2011$ | 10 |
| 1980s | 26,584 2011$ | 24,528 2011$ | 29,576 2011$ | 10 |
| 1990s | 28,725 2011$ | 26,834 2011$ | 32,187 2011$ | 10 |
| 2000s | 36,672 2011$ | 33,108 2011$ | 41,111 2011$ | 10 |
| 2010s | 39,450 2011$ | 36,273 2011$ | 43,438 2011$ | 9 |
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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is divergence of gdp per capita among latecomers to the capitalist revolution in Iceland?
- Divergence of gdp per capita among latecomers to the capitalist revolution in Iceland was 43,438 2011$ in 2018, according to Maddison Project Database (2018) – processed by Our World in Data.
- What is the highest divergence of gdp per capita among latecomers to the capitalist revolution recorded in Iceland?
- The highest recorded value was 43,438 2011$ in 2018.
- What is the lowest divergence of gdp per capita among latecomers to the capitalist revolution recorded in Iceland?
- The lowest recorded value was 8,080 2011$ in 1951.
- How does Iceland rank for divergence of gdp per capita among latecomers to the capitalist revolution?
- Iceland ranks 17th out of 145 countries with data for 2018.
- Is divergence of gdp per capita among latecomers to the capitalist revolution rising or falling in Iceland?
- Over the last ten years it is up 6.4%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Maddison Project Database (2018) – processed by Our World in Data, published as part of Divergence of GDP per capita among latecomers to the capitalist revolution. Statizoid updates them automatically from the source API.
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About this data
Unit 1 'The capitalist revolution: prosperity, inequality, and planetary limits’ in The CORE Team, The Economy 2.0 Microeconomics. Available at: https://tinyco.re/4329598 [Figure 1.19]