Gross domestic product (GDP) (Bolt) in Iceland
Iceland: Gross domestic product (GDP) (Bolt) was 16.02 billion international-$ in 2011 prices in 2022. ◆ Volatile
Latest (2022)
16.02 billion international-$ in 2011 prices
Change on year
up 6.4%
World rank
147th
of 166 countries
All-time high
16.02 billion international-$ in 2011 prices
in 2022
All-time low
1.18 billion international-$ in 2011 prices
in 1951
Years of data
73
1950–2022
Gross domestic product (GDP) in Iceland, 1950–2022
Source: Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data. Measured in international-$ in 2011 prices.
Analysis
In 2022, gross domestic product (gdp) in Iceland stood at 16.02 billion international-$ in 2011 prices. That is the highest value across all 73 years on record.
Compared with earlier readings it is up 6.4% on the previous year and up 35.3% over ten years.
Over the whole period, gross domestic product (gdp) in Iceland peaked at 16.02 billion international-$ in 2011 prices in 2022 and was at its lowest, 1.18 billion international-$ in 2011 prices, in 1951.
Iceland ranks 147th of 166 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP) (Bolt) in Iceland, year by year
| Year | international-$ in 2011 prices | Change |
|---|---|---|
| 1950 | 1.21 billion international-$ in 2011 prices | — |
| 1951 | 1.18 billion international-$ in 2011 prices | -3.1% |
| 1952 | 1.31 billion international-$ in 2011 prices | +11.0% |
| 1953 | 1.34 billion international-$ in 2011 prices | +2.8% |
| 1954 | 1.46 billion international-$ in 2011 prices | +8.8% |
| 1955 | 1.60 billion international-$ in 2011 prices | +9.3% |
| 1956 | 1.67 billion international-$ in 2011 prices | +4.4% |
| 1957 | 1.66 billion international-$ in 2011 prices | -0.1% |
| 1958 | 1.78 billion international-$ in 2011 prices | +7.2% |
| 1959 | 1.84 billion international-$ in 2011 prices | +3.4% |
| 1960 | 1.93 billion international-$ in 2011 prices | +4.5% |
| 1961 | 1.92 billion international-$ in 2011 prices | -0.4% |
| 1962 | 2.08 billion international-$ in 2011 prices | +8.5% |
| 1963 | 2.29 billion international-$ in 2011 prices | +10.2% |
| 1964 | 2.53 billion international-$ in 2011 prices | +10.2% |
| 1965 | 2.71 billion international-$ in 2011 prices | +7.3% |
| 1966 | 2.95 billion international-$ in 2011 prices | +8.6% |
| 1967 | 2.91 billion international-$ in 2011 prices | -1.2% |
| 1968 | 2.75 billion international-$ in 2011 prices | -5.6% |
| 1969 | 2.82 billion international-$ in 2011 prices | +2.5% |
| 1970 | 3.03 billion international-$ in 2011 prices | +7.5% |
| 1971 | 3.42 billion international-$ in 2011 prices | +13.1% |
| 1972 | 3.63 billion international-$ in 2011 prices | +6.2% |
| 1973 | 3.88 billion international-$ in 2011 prices | +6.8% |
| 1974 | 4.10 billion international-$ in 2011 prices | +5.7% |
| 1975 | 4.13 billion international-$ in 2011 prices | +0.6% |
| 1976 | 4.38 billion international-$ in 2011 prices | +6.0% |
| 1977 | 4.76 billion international-$ in 2011 prices | +8.8% |
| 1978 | 5.05 billion international-$ in 2011 prices | +6.0% |
| 1979 | 5.29 billion international-$ in 2011 prices | +4.8% |
| 1980 | 5.60 billion international-$ in 2011 prices | +5.7% |
| 1981 | 5.84 billion international-$ in 2011 prices | +4.3% |
| 1982 | 5.96 billion international-$ in 2011 prices | +2.2% |
| 1983 | 5.83 billion international-$ in 2011 prices | -2.2% |
| 1984 | 6.07 billion international-$ in 2011 prices | +4.1% |
| 1985 | 6.27 billion international-$ in 2011 prices | +3.3% |
| 1986 | 6.67 billion international-$ in 2011 prices | +6.3% |
| 1987 | 7.24 billion international-$ in 2011 prices | +8.5% |
| 1988 | 7.23 billion international-$ in 2011 prices | -0.1% |
| 1989 | 7.24 billion international-$ in 2011 prices | +0.2% |
| 1990 | 7.33 billion international-$ in 2011 prices | +1.2% |
| 1991 | 7.29 billion international-$ in 2011 prices | -0.5% |
| 1992 | 7.01 billion international-$ in 2011 prices | -3.8% |
| 1993 | 7.08 billion international-$ in 2011 prices | +0.9% |
| 1994 | 7.30 billion international-$ in 2011 prices | +3.2% |
| 1995 | 7.28 billion international-$ in 2011 prices | -0.3% |
| 1996 | 7.60 billion international-$ in 2011 prices | +4.4% |
| 1997 | 8.11 billion international-$ in 2011 prices | +6.7% |
| 1998 | 8.61 billion international-$ in 2011 prices | +6.2% |
| 1999 | 8.92 billion international-$ in 2011 prices | +3.6% |
| 2000 | 9.31 billion international-$ in 2011 prices | +4.3% |
| 2001 | 9.63 billion international-$ in 2011 prices | +3.5% |
| 2002 | 9.62 billion international-$ in 2011 prices | -0.1% |
| 2003 | 9.81 billion international-$ in 2011 prices | +1.9% |
| 2004 | 10.59 billion international-$ in 2011 prices | +8.0% |
| 2005 | 11.21 billion international-$ in 2011 prices | +5.8% |
| 2006 | 11.78 billion international-$ in 2011 prices | +5.1% |
| 2007 | 12.80 billion international-$ in 2011 prices | +8.7% |
| 2008 | 13.03 billion international-$ in 2011 prices | +1.8% |
| 2009 | 12.03 billion international-$ in 2011 prices | -7.7% |
| 2010 | 11.53 billion international-$ in 2011 prices | -4.2% |
| 2011 | 11.72 billion international-$ in 2011 prices | +1.6% |
| 2012 | 11.84 billion international-$ in 2011 prices | +1.1% |
| 2013 | 12.38 billion international-$ in 2011 prices | +4.6% |
| 2014 | 12.59 billion international-$ in 2011 prices | +1.7% |
| 2015 | 13.15 billion international-$ in 2011 prices | +4.4% |
| 2016 | 13.98 billion international-$ in 2011 prices | +6.3% |
| 2017 | 14.56 billion international-$ in 2011 prices | +4.2% |
| 2018 | 15.28 billion international-$ in 2011 prices | +4.9% |
| 2019 | 15.55 billion international-$ in 2011 prices | +1.8% |
| 2020 | 14.42 billion international-$ in 2011 prices | -7.2% |
| 2021 | 15.05 billion international-$ in 2011 prices | +4.3% |
| 2022 | 16.02 billion international-$ in 2011 prices | +6.4% |
Iceland compared with similar countries
- Iceland's 16.02 billion international-$ in 2011 prices is below the median for high income countries, which is 308.39 billion international-$ in 2011 prices, 5% of the median. (55 countries reporting)
- Iceland's 16.02 billion international-$ in 2011 prices is below the median for Europe & Central Asia, which is 245.02 billion international-$ in 2011 prices, 7% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 1.51 billion international-$ in 2011 prices | 1.18 billion international-$ in 2011 prices | 1.84 billion international-$ in 2011 prices | 10 |
| 1960s | 2.49 billion international-$ in 2011 prices | 1.92 billion international-$ in 2011 prices | 2.95 billion international-$ in 2011 prices | 10 |
| 1970s | 4.17 billion international-$ in 2011 prices | 3.03 billion international-$ in 2011 prices | 5.29 billion international-$ in 2011 prices | 10 |
| 1980s | 6.39 billion international-$ in 2011 prices | 5.60 billion international-$ in 2011 prices | 7.24 billion international-$ in 2011 prices | 10 |
| 1990s | 7.65 billion international-$ in 2011 prices | 7.01 billion international-$ in 2011 prices | 8.92 billion international-$ in 2011 prices | 10 |
| 2000s | 10.98 billion international-$ in 2011 prices | 9.31 billion international-$ in 2011 prices | 13.03 billion international-$ in 2011 prices | 10 |
| 2010s | 13.26 billion international-$ in 2011 prices | 11.53 billion international-$ in 2011 prices | 15.55 billion international-$ in 2011 prices | 10 |
| 2020s | 15.16 billion international-$ in 2011 prices | 14.42 billion international-$ in 2011 prices | 16.02 billion international-$ in 2011 prices | 3 |
Countries ranked near Iceland
- 144 Jamaica 20.02 billion international-$ in 2011 prices compare
- 145 Malta 18.30 billion international-$ in 2011 prices compare
- 146 Haiti 17.55 billion international-$ in 2011 prices compare
- 148 Mauritania 15.67 billion international-$ in 2011 prices compare
- 149 Togo 14.27 billion international-$ in 2011 prices compare
- 150 Montenegro 12.77 billion international-$ in 2011 prices 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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Iceland?
- Gross domestic product (gdp) in Iceland was 16.02 billion international-$ in 2011 prices in 2022, according to Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Iceland?
- The highest recorded value was 16.02 billion international-$ in 2011 prices in 2022.
- What is the lowest gross domestic product (gdp) recorded in Iceland?
- The lowest recorded value was 1.18 billion international-$ in 2011 prices in 1951.
- How does Iceland rank for gross domestic product (gdp)?
- Iceland ranks 147th out of 166 countries with data for 2022.
- Is gross domestic product (gdp) rising or falling in Iceland?
- Over the last ten years it is up 35.3%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.