GDP in Iceland
Iceland: GDP was 3.59 trillion constant LCU in 2025. ◆ Volatile
Latest (2025)
3.59 trillion constant LCU
Change on year
up 1.3%
World rank
65th
of 215 countries
All-time high
3.59 trillion constant LCU
in 2023
All-time low
387.23 billion constant LCU
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 LCU.
Analysis
Iceland recorded 3.59 trillion constant LCU for gdp in 2025.
The figure is up 1.3% on the previous year and up 30.6% over ten years.
Over the whole period, gdp in Iceland peaked at 3.59 trillion constant LCU in 2023 and was at its lowest, 387.23 billion constant LCU, in 1961.
That places Iceland 65th out of 215 countries with data for 2025, putting it 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 LCU | Change |
|---|---|---|
| 1960 | 387.52 billion constant LCU | — |
| 1961 | 387.23 billion constant LCU | -0.1% |
| 1962 | 419.43 billion constant LCU | +8.3% |
| 1963 | 462.55 billion constant LCU | +10.3% |
| 1964 | 508.26 billion constant LCU | +9.9% |
| 1965 | 545.35 billion constant LCU | +7.3% |
| 1966 | 593.07 billion constant LCU | +8.8% |
| 1967 | 585.59 billion constant LCU | -1.3% |
| 1968 | 553.40 billion constant LCU | -5.5% |
| 1969 | 566.62 billion constant LCU | +2.4% |
| 1970 | 608.88 billion constant LCU | +7.5% |
| 1971 | 688.40 billion constant LCU | +13.1% |
| 1972 | 730.93 billion constant LCU | +6.2% |
| 1973 | 780.68 billion constant LCU | +6.8% |
| 1974 | 825.22 billion constant LCU | +5.7% |
| 1975 | 830.56 billion constant LCU | +0.6% |
| 1976 | 880.05 billion constant LCU | +6.0% |
| 1977 | 957.69 billion constant LCU | +8.8% |
| 1978 | 1.02 trillion constant LCU | +6.0% |
| 1979 | 1.06 trillion constant LCU | +4.9% |
| 1980 | 1.13 trillion constant LCU | +5.7% |
| 1981 | 1.17 trillion constant LCU | +4.3% |
| 1982 | 1.20 trillion constant LCU | +2.2% |
| 1983 | 1.17 trillion constant LCU | -2.2% |
| 1984 | 1.22 trillion constant LCU | +4.1% |
| 1985 | 1.26 trillion constant LCU | +3.3% |
| 1986 | 1.34 trillion constant LCU | +6.3% |
| 1987 | 1.46 trillion constant LCU | +8.5% |
| 1988 | 1.45 trillion constant LCU | -0.1% |
| 1989 | 1.46 trillion constant LCU | +0.3% |
| 1990 | 1.48 trillion constant LCU | +1.2% |
| 1991 | 1.47 trillion constant LCU | -0.2% |
| 1992 | 1.42 trillion constant LCU | -3.4% |
| 1993 | 1.44 trillion constant LCU | +1.3% |
| 1994 | 1.49 trillion constant LCU | +3.6% |
| 1995 | 1.49 trillion constant LCU | +0.1% |
| 1996 | 1.56 trillion constant LCU | +4.5% |
| 1997 | 1.63 trillion constant LCU | +4.1% |
| 1998 | 1.74 trillion constant LCU | +7.0% |
| 1999 | 1.81 trillion constant LCU | +3.9% |
| 2000 | 1.90 trillion constant LCU | +4.9% |
| 2001 | 1.97 trillion constant LCU | +3.8% |
| 2002 | 1.98 trillion constant LCU | +0.5% |
| 2003 | 2.03 trillion constant LCU | +2.3% |
| 2004 | 2.18 trillion constant LCU | +7.6% |
| 2005 | 2.33 trillion constant LCU | +7.0% |
| 2006 | 2.47 trillion constant LCU | +5.7% |
| 2007 | 2.68 trillion constant LCU | +8.7% |
| 2008 | 2.73 trillion constant LCU | +1.7% |
| 2009 | 2.50 trillion constant LCU | -8.3% |
| 2010 | 2.44 trillion constant LCU | -2.2% |
| 2011 | 2.48 trillion constant LCU | +1.4% |
| 2012 | 2.51 trillion constant LCU | +1.2% |
| 2013 | 2.60 trillion constant LCU | +3.6% |
| 2014 | 2.65 trillion constant LCU | +1.9% |
| 2015 | 2.75 trillion constant LCU | +3.8% |
| 2016 | 2.92 trillion constant LCU | +6.2% |
| 2017 | 3.02 trillion constant LCU | +3.5% |
| 2018 | 3.16 trillion constant LCU | +4.7% |
| 2019 | 3.20 trillion constant LCU | +1.1% |
| 2020 | 2.98 trillion constant LCU | -6.6% |
| 2021 | 3.14 trillion constant LCU | +5.2% |
| 2022 | 3.42 trillion constant LCU | +8.9% |
| 2023 | 3.59 trillion constant LCU | +5.0% |
| 2024 | 3.54 trillion constant LCU | -1.3% |
| 2025 | 3.59 trillion constant LCU | +1.3% |
Iceland compared with similar countries
- Iceland's 3.59 trillion constant LCU is above the median for high income countries, which is 153.70 billion constant LCU, 23.3× the median. (83 countries reporting)
- Iceland's 3.59 trillion constant LCU is above the median for Europe & Central Asia, which is 330.26 billion constant LCU, 10.9× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 500.90 billion constant LCU | 387.23 billion constant LCU | 593.07 billion constant LCU | 10 |
| 1970s | 838.24 billion constant LCU | 608.88 billion constant LCU | 1.06 trillion constant LCU | 10 |
| 1980s | 1.29 trillion constant LCU | 1.13 trillion constant LCU | 1.46 trillion constant LCU | 10 |
| 1990s | 1.55 trillion constant LCU | 1.42 trillion constant LCU | 1.81 trillion constant LCU | 10 |
| 2000s | 2.28 trillion constant LCU | 1.90 trillion constant LCU | 2.73 trillion constant LCU | 10 |
| 2010s | 2.77 trillion constant LCU | 2.44 trillion constant LCU | 3.20 trillion constant LCU | 10 |
| 2020s | 3.38 trillion constant LCU | 2.98 trillion constant LCU | 3.59 trillion constant LCU | 6 |
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 gdp in Iceland?
- Gdp in Iceland was 3.59 trillion constant LCU 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 3.59 trillion constant LCU in 2023.
- What is the lowest gdp recorded in Iceland?
- The lowest recorded value was 387.23 billion constant LCU in 1961.
- How does Iceland rank for gdp?
- Iceland ranks 65th out of 215 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 LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 66 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 varies by country. This series is expressed in local currency units.