GDP (constant LCU) (UNICEF) in Iceland
Iceland: GDP (constant LCU) (UNICEF) was 3.56 trillion in 2024. ◆ Volatile
Latest (2024)
3.56 trillion
Change on year
down 1.0%
World rank
17th
of 74 countries
All-time high
3.59 trillion
in 2023
All-time low
387.23 billion
in 1961
Years of data
65
1960–2024
GDP in Iceland, 1960–2024
Source: UNICEF.
Analysis
In 2024, gdp in Iceland stood at 3.56 trillion.
That represents a change of down 1.0% on the previous year and up 34.4% over ten years.
Over the whole period, gdp in Iceland peaked at 3.59 trillion in 2023 and was at its lowest, 387.23 billion, in 1961.
Iceland ranks 17th of 74 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP (constant LCU) (UNICEF) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1960 | 387.52 billion | — |
| 1961 | 387.23 billion | -0.1% |
| 1962 | 419.43 billion | +8.3% |
| 1963 | 462.55 billion | +10.3% |
| 1964 | 508.26 billion | +9.9% |
| 1965 | 545.35 billion | +7.3% |
| 1966 | 593.07 billion | +8.8% |
| 1967 | 585.59 billion | -1.3% |
| 1968 | 553.40 billion | -5.5% |
| 1969 | 566.62 billion | +2.4% |
| 1970 | 608.88 billion | +7.5% |
| 1971 | 688.40 billion | +13.1% |
| 1972 | 730.93 billion | +6.2% |
| 1973 | 780.68 billion | +6.8% |
| 1974 | 825.22 billion | +5.7% |
| 1975 | 830.56 billion | +0.6% |
| 1976 | 880.05 billion | +6.0% |
| 1977 | 957.69 billion | +8.8% |
| 1978 | 1.02 trillion | +6.0% |
| 1979 | 1.06 trillion | +4.9% |
| 1980 | 1.13 trillion | +5.7% |
| 1981 | 1.17 trillion | +4.3% |
| 1982 | 1.20 trillion | +2.2% |
| 1983 | 1.17 trillion | -2.2% |
| 1984 | 1.22 trillion | +4.1% |
| 1985 | 1.26 trillion | +3.3% |
| 1986 | 1.34 trillion | +6.3% |
| 1987 | 1.46 trillion | +8.5% |
| 1988 | 1.45 trillion | -0.1% |
| 1989 | 1.46 trillion | +0.3% |
| 1990 | 1.48 trillion | +1.2% |
| 1991 | 1.47 trillion | -0.2% |
| 1992 | 1.42 trillion | -3.4% |
| 1993 | 1.44 trillion | +1.3% |
| 1994 | 1.49 trillion | +3.6% |
| 1995 | 1.49 trillion | +0.1% |
| 1996 | 1.56 trillion | +4.5% |
| 1997 | 1.63 trillion | +4.1% |
| 1998 | 1.74 trillion | +7.0% |
| 1999 | 1.81 trillion | +3.9% |
| 2000 | 1.90 trillion | +4.9% |
| 2001 | 1.97 trillion | +3.8% |
| 2002 | 1.98 trillion | +0.5% |
| 2003 | 2.03 trillion | +2.3% |
| 2004 | 2.18 trillion | +7.6% |
| 2005 | 2.33 trillion | +7.0% |
| 2006 | 2.47 trillion | +5.7% |
| 2007 | 2.68 trillion | +8.7% |
| 2008 | 2.73 trillion | +1.7% |
| 2009 | 2.50 trillion | -8.3% |
| 2010 | 2.44 trillion | -2.2% |
| 2011 | 2.48 trillion | +1.4% |
| 2012 | 2.51 trillion | +1.2% |
| 2013 | 2.60 trillion | +3.6% |
| 2014 | 2.65 trillion | +1.9% |
| 2015 | 2.75 trillion | +3.8% |
| 2016 | 2.92 trillion | +6.2% |
| 2017 | 3.02 trillion | +3.5% |
| 2018 | 3.16 trillion | +4.7% |
| 2019 | 3.20 trillion | +1.1% |
| 2020 | 2.98 trillion | -6.6% |
| 2021 | 3.14 trillion | +5.2% |
| 2022 | 3.42 trillion | +8.8% |
| 2023 | 3.59 trillion | +5.2% |
| 2024 | 3.56 trillion | -1.0% |
Iceland compared with similar countries
- Iceland's 3.56 trillion is above the median for high income countries, which is 445.69 billion, 8.0× the median. (42 countries reporting)
- Iceland's 3.56 trillion is above the median for Europe & Central Asia, which is 490.93 billion, 7.2× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 500.90 billion | 387.23 billion | 593.07 billion | 10 |
| 1970s | 838.24 billion | 608.88 billion | 1.06 trillion | 10 |
| 1980s | 1.29 trillion | 1.13 trillion | 1.46 trillion | 10 |
| 1990s | 1.55 trillion | 1.42 trillion | 1.81 trillion | 10 |
| 2000s | 2.28 trillion | 1.90 trillion | 2.73 trillion | 10 |
| 2010s | 2.77 trillion | 2.44 trillion | 3.20 trillion | 10 |
| 2020s | 3.34 trillion | 2.98 trillion | 3.59 trillion | 5 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
Frequently asked questions
- What is gdp in Iceland?
- Gdp in Iceland was 3.56 trillion in 2024, according to UNICEF.
- What is the highest gdp recorded in Iceland?
- The highest recorded value was 3.59 trillion in 2023.
- What is the lowest gdp recorded in Iceland?
- The lowest recorded value was 387.23 billion in 1961.
- How does Iceland rank for gdp?
- Iceland ranks 17th out of 74 countries with data for 2024.
- Is gdp rising or falling in Iceland?
- Over the last ten years it is up 34.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from UNICEF, published as part of GDP (constant LCU). Statizoid updates them automatically from the source API.
Download this data
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