GDP in Iceland
Iceland: GDP was 38.58 billion current US$ in 2025. ◆ Volatile
Latest (2025)
38.58 billion current US$
Change on year
up 16.3%
World rank
107th
of 214 countries
All-time high
38.58 billion current US$
in 2025
All-time low
260.98 million current US$
in 1960
Years of data
66
1960–2025
GDP in Iceland, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
In 2025, gdp in Iceland stood at 38.58 billion current US$. That is the highest value across all 66 years on record.
The figure is up 16.3% on the previous year and up 118.0% over ten years.
Over the whole period, gdp in Iceland peaked at 38.58 billion current US$ in 2025 and was at its lowest, 260.98 million current US$, in 1960.
Iceland ranks 107th of 214 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | 260.98 million current US$ | — |
| 1961 | 266.71 million current US$ | +2.2% |
| 1962 | 299.31 million current US$ | +12.2% |
| 1963 | 357.24 million current US$ | +19.4% |
| 1964 | 456.21 million current US$ | +27.7% |
| 1965 | 550.15 million current US$ | +20.6% |
| 1966 | 660.66 million current US$ | +20.1% |
| 1967 | 652.61 million current US$ | -1.2% |
| 1968 | 498.37 million current US$ | -23.6% |
| 1969 | 435.66 million current US$ | -12.6% |
| 1970 | 545.12 million current US$ | +25.1% |
| 1971 | 693.68 million current US$ | +27.3% |
| 1972 | 869.00 million current US$ | +25.3% |
| 1973 | 1.19 billion current US$ | +37.5% |
| 1974 | 1.57 billion current US$ | +31.2% |
| 1975 | 1.46 billion current US$ | -7.1% |
| 1976 | 1.73 billion current US$ | +18.7% |
| 1977 | 2.29 billion current US$ | +32.3% |
| 1978 | 2.60 billion current US$ | +13.7% |
| 1979 | 2.95 billion current US$ | +13.6% |
| 1980 | 3.50 billion current US$ | +18.5% |
| 1981 | 3.62 billion current US$ | +3.3% |
| 1982 | 3.32 billion current US$ | -8.2% |
| 1983 | 2.86 billion current US$ | -13.7% |
| 1984 | 2.96 billion current US$ | +3.6% |
| 1985 | 3.09 billion current US$ | +4.2% |
| 1986 | 4.13 billion current US$ | +33.7% |
| 1987 | 5.71 billion current US$ | +38.4% |
| 1988 | 6.32 billion current US$ | +10.6% |
| 1989 | 5.87 billion current US$ | -7.1% |
| 1990 | 6.69 billion current US$ | +14.0% |
| 1991 | 7.15 billion current US$ | +6.8% |
| 1992 | 7.33 billion current US$ | +2.5% |
| 1993 | 6.44 billion current US$ | -12.2% |
| 1994 | 6.61 billion current US$ | +2.7% |
| 1995 | 7.37 billion current US$ | +11.5% |
| 1996 | 7.69 billion current US$ | +4.3% |
| 1997 | 7.72 billion current US$ | +0.4% |
| 1998 | 8.64 billion current US$ | +11.9% |
| 1999 | 9.11 billion current US$ | +5.4% |
| 2000 | 9.14 billion current US$ | +0.4% |
| 2001 | 8.32 billion current US$ | -8.9% |
| 2002 | 9.42 billion current US$ | +13.1% |
| 2003 | 11.56 billion current US$ | +22.8% |
| 2004 | 13.96 billion current US$ | +20.7% |
| 2005 | 17.15 billion current US$ | +22.8% |
| 2006 | 17.67 billion current US$ | +3.1% |
| 2007 | 21.96 billion current US$ | +24.3% |
| 2008 | 18.25 billion current US$ | -16.9% |
| 2009 | 13.21 billion current US$ | -27.6% |
| 2010 | 13.92 billion current US$ | +5.4% |
| 2011 | 15.39 billion current US$ | +10.6% |
| 2012 | 14.94 billion current US$ | -2.9% |
| 2013 | 16.24 billion current US$ | +8.7% |
| 2014 | 18.05 billion current US$ | +11.1% |
| 2015 | 17.70 billion current US$ | -1.9% |
| 2016 | 21.08 billion current US$ | +19.1% |
| 2017 | 25.06 billion current US$ | +18.9% |
| 2018 | 26.68 billion current US$ | +6.5% |
| 2019 | 24.99 billion current US$ | -6.3% |
| 2020 | 22.03 billion current US$ | -11.8% |
| 2021 | 26.23 billion current US$ | +19.1% |
| 2022 | 29.18 billion current US$ | +11.2% |
| 2023 | 31.70 billion current US$ | +8.7% |
| 2024 | 33.19 billion current US$ | +4.7% |
| 2025 | 38.58 billion current US$ | +16.3% |
Iceland compared with similar countries
- Iceland's 38.58 billion current US$ is below the median for high income countries, which is 102.03 billion current US$, 38% of the median. (82 countries reporting)
- Iceland's 38.58 billion current US$ is below the median for Europe & Central Asia, which is 103.11 billion current US$, 37% of the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 443.79 million current US$ | 260.98 million current US$ | 660.66 million current US$ | 10 |
| 1970s | 1.59 billion current US$ | 545.12 million current US$ | 2.95 billion current US$ | 10 |
| 1980s | 4.14 billion current US$ | 2.86 billion current US$ | 6.32 billion current US$ | 10 |
| 1990s | 7.47 billion current US$ | 6.44 billion current US$ | 9.11 billion current US$ | 10 |
| 2000s | 14.06 billion current US$ | 8.32 billion current US$ | 21.96 billion current US$ | 10 |
| 2010s | 19.41 billion current US$ | 13.92 billion current US$ | 26.68 billion current US$ | 10 |
| 2020s | 30.15 billion current US$ | 22.03 billion current US$ | 38.58 billion current US$ | 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is gdp in Iceland?
- Gdp in Iceland was 38.58 billion current US$ 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 38.58 billion current US$ in 2025.
- What is the lowest gdp recorded in Iceland?
- The lowest recorded value was 260.98 million current US$ in 1960.
- How does Iceland rank for gdp?
- Iceland ranks 107th out of 214 countries with data for 2025.
- Is gdp rising or falling in Iceland?
- Over the last ten years it is up 118.0%. 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 (current 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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.