GDP in Iceland
Iceland: GDP was 23.12 billion constant 2015 US$ in 2025. ◆ Volatile
Latest (2025)
23.12 billion constant 2015 US$
Change on year
up 1.3%
World rank
116th
of 212 countries
All-time high
23.12 billion constant 2015 US$
in 2023
All-time low
2.50 billion constant 2015 US$
in 1961
Years of data
66
1960–2025
GDP in Iceland, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant 2015 US$.
Analysis
In 2025, gdp in Iceland stood at 23.12 billion constant 2015 US$.
Compared with earlier readings it is up 1.3% on the previous year and up 30.6% over ten years.
Over the whole period, gdp in Iceland peaked at 23.12 billion constant 2015 US$ in 2023 and was at its lowest, 2.50 billion constant 2015 US$, in 1961.
Iceland ranks 116th of 212 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP in Iceland, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1960 | 2.50 billion constant 2015 US$ | — |
| 1961 | 2.50 billion constant 2015 US$ | -0.1% |
| 1962 | 2.70 billion constant 2015 US$ | +8.3% |
| 1963 | 2.98 billion constant 2015 US$ | +10.3% |
| 1964 | 3.27 billion constant 2015 US$ | +9.9% |
| 1965 | 3.51 billion constant 2015 US$ | +7.3% |
| 1966 | 3.82 billion constant 2015 US$ | +8.8% |
| 1967 | 3.77 billion constant 2015 US$ | -1.3% |
| 1968 | 3.57 billion constant 2015 US$ | -5.5% |
| 1969 | 3.65 billion constant 2015 US$ | +2.4% |
| 1970 | 3.92 billion constant 2015 US$ | +7.5% |
| 1971 | 4.44 billion constant 2015 US$ | +13.1% |
| 1972 | 4.71 billion constant 2015 US$ | +6.2% |
| 1973 | 5.03 billion constant 2015 US$ | +6.8% |
| 1974 | 5.32 billion constant 2015 US$ | +5.7% |
| 1975 | 5.35 billion constant 2015 US$ | +0.6% |
| 1976 | 5.67 billion constant 2015 US$ | +6.0% |
| 1977 | 6.17 billion constant 2015 US$ | +8.8% |
| 1978 | 6.54 billion constant 2015 US$ | +6.0% |
| 1979 | 6.86 billion constant 2015 US$ | +4.9% |
| 1980 | 7.25 billion constant 2015 US$ | +5.7% |
| 1981 | 7.56 billion constant 2015 US$ | +4.3% |
| 1982 | 7.73 billion constant 2015 US$ | +2.2% |
| 1983 | 7.56 billion constant 2015 US$ | -2.2% |
| 1984 | 7.87 billion constant 2015 US$ | +4.1% |
| 1985 | 8.13 billion constant 2015 US$ | +3.3% |
| 1986 | 8.64 billion constant 2015 US$ | +6.3% |
| 1987 | 9.38 billion constant 2015 US$ | +8.5% |
| 1988 | 9.37 billion constant 2015 US$ | -0.1% |
| 1989 | 9.40 billion constant 2015 US$ | +0.3% |
| 1990 | 9.51 billion constant 2015 US$ | +1.2% |
| 1991 | 9.48 billion constant 2015 US$ | -0.2% |
| 1992 | 9.16 billion constant 2015 US$ | -3.4% |
| 1993 | 9.28 billion constant 2015 US$ | +1.3% |
| 1994 | 9.62 billion constant 2015 US$ | +3.6% |
| 1995 | 9.63 billion constant 2015 US$ | +0.1% |
| 1996 | 10.06 billion constant 2015 US$ | +4.5% |
| 1997 | 10.48 billion constant 2015 US$ | +4.1% |
| 1998 | 11.22 billion constant 2015 US$ | +7.0% |
| 1999 | 11.65 billion constant 2015 US$ | +3.9% |
| 2000 | 12.22 billion constant 2015 US$ | +4.9% |
| 2001 | 12.69 billion constant 2015 US$ | +3.8% |
| 2002 | 12.76 billion constant 2015 US$ | +0.5% |
| 2003 | 13.05 billion constant 2015 US$ | +2.3% |
| 2004 | 14.05 billion constant 2015 US$ | +7.6% |
| 2005 | 15.04 billion constant 2015 US$ | +7.0% |
| 2006 | 15.89 billion constant 2015 US$ | +5.7% |
| 2007 | 17.28 billion constant 2015 US$ | +8.7% |
| 2008 | 17.57 billion constant 2015 US$ | +1.7% |
| 2009 | 16.11 billion constant 2015 US$ | -8.3% |
| 2010 | 15.75 billion constant 2015 US$ | -2.2% |
| 2011 | 15.97 billion constant 2015 US$ | +1.4% |
| 2012 | 16.16 billion constant 2015 US$ | +1.2% |
| 2013 | 16.74 billion constant 2015 US$ | +3.6% |
| 2014 | 17.06 billion constant 2015 US$ | +1.9% |
| 2015 | 17.70 billion constant 2015 US$ | +3.8% |
| 2016 | 18.80 billion constant 2015 US$ | +6.2% |
| 2017 | 19.46 billion constant 2015 US$ | +3.5% |
| 2018 | 20.36 billion constant 2015 US$ | +4.7% |
| 2019 | 20.59 billion constant 2015 US$ | +1.1% |
| 2020 | 19.23 billion constant 2015 US$ | -6.6% |
| 2021 | 20.22 billion constant 2015 US$ | +5.2% |
| 2022 | 22.01 billion constant 2015 US$ | +8.9% |
| 2023 | 23.12 billion constant 2015 US$ | +5.0% |
| 2024 | 22.82 billion constant 2015 US$ | -1.3% |
| 2025 | 23.12 billion constant 2015 US$ | +1.3% |
Iceland compared with similar countries
- Iceland's 23.12 billion constant 2015 US$ is below the median for high income countries, which is 76.03 billion constant 2015 US$, 30% of the median. (80 countries reporting)
- Iceland's 23.12 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 70.96 billion constant 2015 US$, 33% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.23 billion constant 2015 US$ | 2.50 billion constant 2015 US$ | 3.82 billion constant 2015 US$ | 10 |
| 1970s | 5.40 billion constant 2015 US$ | 3.92 billion constant 2015 US$ | 6.86 billion constant 2015 US$ | 10 |
| 1980s | 8.29 billion constant 2015 US$ | 7.25 billion constant 2015 US$ | 9.40 billion constant 2015 US$ | 10 |
| 1990s | 10.01 billion constant 2015 US$ | 9.16 billion constant 2015 US$ | 11.65 billion constant 2015 US$ | 10 |
| 2000s | 14.67 billion constant 2015 US$ | 12.22 billion constant 2015 US$ | 17.57 billion constant 2015 US$ | 10 |
| 2010s | 17.86 billion constant 2015 US$ | 15.75 billion constant 2015 US$ | 20.59 billion constant 2015 US$ | 10 |
| 2020s | 21.75 billion constant 2015 US$ | 19.23 billion constant 2015 US$ | 23.12 billion constant 2015 US$ | 6 |
Countries ranked near Iceland
- 113 Georgia 27.07 billion constant 2015 US$ compare
- 114 Zimbabwe 25.48 billion constant 2015 US$ compare
- 115 Mali 23.53 billion constant 2015 US$ compare
- 117 Trinidad and Tobago 22.15 billion constant 2015 US$ compare
- 118 Laos 22.10 billion constant 2015 US$ compare
- 119 Bosnia and Herzegovina 21.80 billion constant 2015 US$ 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)
- 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is gdp in Iceland?
- Gdp in Iceland was 23.12 billion constant 2015 US$ in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp recorded in Iceland?
- The highest recorded value was 23.12 billion constant 2015 US$ in 2023.
- What is the lowest gdp recorded in Iceland?
- The lowest recorded value was 2.50 billion constant 2015 US$ in 1961.
- How does Iceland rank for gdp?
- Iceland ranks 116th out of 212 countries with data for 2025.
- Is gdp rising or falling in Iceland?
- Over the last ten years it is up 30.6%. The long-run trend across the full record is volatile.
- 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 GDP (constant 2015 US$). Statizoid updates them automatically from the source API.
Download this data
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About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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 is 2015. This indicator is expressed in United States dollars.