GDP growth in Iceland
Iceland: GDP growth was -0.9707 in 2024. ◆ Volatile
Latest (2024)
-0.9707
Change on year
down 118.7%
World rank
69th
of 74 countries
All-time high
13.06
in 1971
All-time low
-8.32
in 2009
Years of data
64
1961–2024
GDP growth in Iceland, 1961–2024
Source: UNICEF.
Analysis
The most recent figure for gdp growth in Iceland is -0.9707, measured in 2024.
Compared with earlier readings it is down 118.7% on the previous year and down 150.7% over ten years.
Over the whole period, gdp growth in Iceland peaked at 13.06 in 1971 and was at its lowest, -8.32, in 2009.
That places Iceland 69th out of 74 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1961 | -0.0742 | — |
| 1962 | 8.31 | -11308.3% |
| 1963 | 10.28 | +23.6% |
| 1964 | 9.88 | -3.9% |
| 1965 | 7.3 | -26.2% |
| 1966 | 8.75 | +19.9% |
| 1967 | -1.26 | -114.4% |
| 1968 | -5.5 | +336.3% |
| 1969 | 2.39 | -143.5% |
| 1970 | 7.46 | +212.1% |
| 1971 | 13.06 | +75.1% |
| 1972 | 6.18 | -52.7% |
| 1973 | 6.81 | +10.2% |
| 1974 | 5.71 | -16.2% |
| 1975 | 0.6462 | -88.7% |
| 1976 | 5.96 | +822.3% |
| 1977 | 8.82 | +48.0% |
| 1978 | 6.02 | -31.8% |
| 1979 | 4.86 | -19.2% |
| 1980 | 5.75 | +18.3% |
| 1981 | 4.27 | -25.8% |
| 1982 | 2.15 | -49.5% |
| 1983 | -2.15 | -199.8% |
| 1984 | 4.13 | -291.9% |
| 1985 | 3.29 | -20.3% |
| 1986 | 6.27 | +90.4% |
| 1987 | 8.55 | +36.3% |
| 1988 | -0.0897 | -101.0% |
| 1989 | 0.2584 | -388.0% |
| 1990 | 1.17 | +352.5% |
| 1991 | -0.2235 | -119.1% |
| 1992 | -3.37 | +1409.4% |
| 1993 | 1.31 | -138.9% |
| 1994 | 3.61 | +174.8% |
| 1995 | 0.1166 | -96.8% |
| 1996 | 4.5 | +3757.9% |
| 1997 | 4.14 | -7.9% |
| 1998 | 7.01 | +69.3% |
| 1999 | 3.9 | -44.4% |
| 2000 | 4.91 | +25.8% |
| 2001 | 3.84 | -21.7% |
| 2002 | 0.5423 | -85.9% |
| 2003 | 2.28 | +320.7% |
| 2004 | 7.62 | +234.1% |
| 2005 | 7.03 | -7.8% |
| 2006 | 5.67 | -19.3% |
| 2007 | 8.74 | +54.1% |
| 2008 | 1.7 | -80.6% |
| 2009 | -8.32 | -589.6% |
| 2010 | -2.22 | -73.3% |
| 2011 | 1.38 | -162.1% |
| 2012 | 1.17 | -15.3% |
| 2013 | 3.6 | +207.6% |
| 2014 | 1.91 | -46.8% |
| 2015 | 3.77 | +96.9% |
| 2016 | 6.22 | +65.0% |
| 2017 | 3.49 | -44.0% |
| 2018 | 4.66 | +33.7% |
| 2019 | 1.14 | -75.6% |
| 2020 | -6.65 | -683.9% |
| 2021 | 5.18 | -178.0% |
| 2022 | 8.82 | +70.3% |
| 2023 | 5.19 | -41.2% |
| 2024 | -0.9707 | -118.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 4.45 | -5.5 | 10.28 | 9 |
| 1970s | 6.55 | 0.6462 | 13.06 | 10 |
| 1980s | 3.24 | -2.15 | 8.55 | 10 |
| 1990s | 2.22 | -3.37 | 7.01 | 10 |
| 2000s | 3.4 | -8.32 | 8.74 | 10 |
| 2010s | 2.51 | -2.22 | 6.22 | 10 |
| 2020s | 2.31 | -6.65 | 8.82 | 5 |
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)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 89,219 current US$ per person (2025)
- GNI (current US$), annual growth rate 17.05 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9978 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 98,107 current US$ per person (2025)
- GNI (current LCU), annual growth rate 8.97 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 128.16 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is gdp growth in Iceland?
- Gdp growth in Iceland was -0.9707 in 2024, according to UNICEF.
- What is the highest gdp growth recorded in Iceland?
- The highest recorded value was 13.06 in 1971.
- What is the lowest gdp growth recorded in Iceland?
- The lowest recorded value was -8.32 in 2009.
- How does Iceland rank for gdp growth?
- Iceland ranks 69th out of 74 countries with data for 2024.
- Is gdp growth rising or falling in Iceland?
- Over the last ten years it is down 150.7%. 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 growth (annual %). Statizoid updates them automatically from the source API.
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