GDP growth in Iceland
Iceland: GDP growth was 1.3% in 2025. ◆ Volatile
GDP growth in Iceland, 1961–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in annual %.
Analysis
In 2025, gdp growth in Iceland stood at 1.3%.
The figure is up 199.7% on the previous year and down 66.0% over ten years.
Over the whole period, gdp growth in Iceland peaked at 13.1% in 1971 and was at its lowest, -8.3%, in 2009.
Iceland ranks 166th of 213 countries on this measure, 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 | annual % | Change |
|---|---|---|
| 1961 | -0.1% | — |
| 1962 | 8.3% | -11308.3% |
| 1963 | 10.3% | +23.6% |
| 1964 | 9.9% | -3.9% |
| 1965 | 7.3% | -26.2% |
| 1966 | 8.8% | +19.9% |
| 1967 | -1.3% | -114.4% |
| 1968 | -5.5% | +336.3% |
| 1969 | 2.4% | -143.5% |
| 1970 | 7.5% | +212.1% |
| 1971 | 13.1% | +75.1% |
| 1972 | 6.2% | -52.7% |
| 1973 | 6.8% | +10.2% |
| 1974 | 5.7% | -16.2% |
| 1975 | 0.6% | -88.7% |
| 1976 | 6.0% | +822.3% |
| 1977 | 8.8% | +48.0% |
| 1978 | 6.0% | -31.8% |
| 1979 | 4.9% | -19.2% |
| 1980 | 5.7% | +18.3% |
| 1981 | 4.3% | -25.8% |
| 1982 | 2.2% | -49.5% |
| 1983 | -2.2% | -199.8% |
| 1984 | 4.1% | -291.9% |
| 1985 | 3.3% | -20.3% |
| 1986 | 6.3% | +90.4% |
| 1987 | 8.5% | +36.3% |
| 1988 | -0.1% | -101.0% |
| 1989 | 0.3% | -388.0% |
| 1990 | 1.2% | +352.5% |
| 1991 | -0.2% | -119.1% |
| 1992 | -3.4% | +1409.4% |
| 1993 | 1.3% | -138.9% |
| 1994 | 3.6% | +174.8% |
| 1995 | 0.1% | -96.8% |
| 1996 | 4.5% | +3757.9% |
| 1997 | 4.1% | -7.9% |
| 1998 | 7.0% | +69.3% |
| 1999 | 3.9% | -44.4% |
| 2000 | 4.9% | +25.8% |
| 2001 | 3.8% | -21.7% |
| 2002 | 0.5% | -85.9% |
| 2003 | 2.3% | +320.7% |
| 2004 | 7.6% | +234.1% |
| 2005 | 7.0% | -7.8% |
| 2006 | 5.7% | -19.3% |
| 2007 | 8.7% | +54.1% |
| 2008 | 1.7% | -80.6% |
| 2009 | -8.3% | -589.6% |
| 2010 | -2.2% | -73.3% |
| 2011 | 1.4% | -162.1% |
| 2012 | 1.2% | -15.3% |
| 2013 | 3.6% | +207.6% |
| 2014 | 1.9% | -46.8% |
| 2015 | 3.8% | +96.9% |
| 2016 | 6.2% | +65.0% |
| 2017 | 3.5% | -44.0% |
| 2018 | 4.7% | +33.7% |
| 2019 | 1.1% | -75.6% |
| 2020 | -6.6% | -683.9% |
| 2021 | 5.2% | -178.0% |
| 2022 | 8.9% | +71.0% |
| 2023 | 5.0% | -43.2% |
| 2024 | -1.3% | -125.5% |
| 2025 | 1.3% | -199.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 4.5% | -5.5% | 10.3% | 9 |
| 1970s | 6.6% | 0.6% | 13.1% | 10 |
| 1980s | 3.2% | -2.2% | 8.5% | 10 |
| 1990s | 2.2% | -3.4% | 7.0% | 10 |
| 2000s | 3.4% | -8.3% | 8.7% | 10 |
| 2010s | 2.5% | -2.2% | 6.2% | 10 |
| 2020s | 2.1% | -6.6% | 8.9% | 6 |
Countries ranked near Iceland
- 163 Australia 1.4% compare
- 164 Switzerland 1.3% compare
- 165 Belarus 1.3% compare
- 167 Japan 1.2% compare
- 168 French Polynesia 1.1% compare
- 169 South Africa 1.1% 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)
- 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 1.3% in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp growth recorded in Iceland?
- The highest recorded value was 13.1% in 1971.
- What is the lowest gdp growth recorded in Iceland?
- The lowest recorded value was -8.3% in 2009.
- How does Iceland rank for gdp growth?
- Iceland ranks 166th out of 213 countries with data for 2025.
- Is gdp growth rising or falling in Iceland?
- Over the last ten years it is down 66.0%. 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 growth (annual %). Statizoid updates them automatically from the source API.
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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 denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.