Gross domestic product (GDP) in Iceland
Iceland: Gross domestic product (GDP) was 23.12 billion constant 2015 US$ in 2025. ◆ Volatile
Gross domestic product (GDP) in Iceland, 1960–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data. Measured in constant 2015 US$.
Analysis
In 2025, gross domestic product (gdp) in Iceland stood at 23.12 billion constant 2015 US$.
The figure is up 1.3% on the previous year and up 30.6% over ten years.
Over the whole period, gross domestic product (gdp) in Iceland peaked at 23.12 billion constant 2015 US$ in 2023 and was at its lowest, 2.50 billion constant 2015 US$, in 1961.
Iceland ranks 116th of 209 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.23 billion constant 2015 US$ | 2.50 billion constant 2015 US$ | 3.82 billion constant 2015 US$ | 10 |
| 1970s | 5.40 billion constant 2015 US$ | 3.92 billion constant 2015 US$ | 6.86 billion constant 2015 US$ | 10 |
| 1980s | 8.29 billion constant 2015 US$ | 7.25 billion constant 2015 US$ | 9.40 billion constant 2015 US$ | 10 |
| 1990s | 10.01 billion constant 2015 US$ | 9.16 billion constant 2015 US$ | 11.65 billion constant 2015 US$ | 10 |
| 2000s | 14.67 billion constant 2015 US$ | 12.22 billion constant 2015 US$ | 17.57 billion constant 2015 US$ | 10 |
| 2010s | 17.86 billion constant 2015 US$ | 15.75 billion constant 2015 US$ | 20.59 billion constant 2015 US$ | 10 |
| 2020s | 21.75 billion constant 2015 US$ | 19.23 billion constant 2015 US$ | 23.12 billion constant 2015 US$ | 6 |
Countries ranked near Iceland
- 113 Georgia 27.07 billion constant 2015 US$ compare
- 114 Zimbabwe 25.48 billion constant 2015 US$ compare
- 115 Mali 23.53 billion constant 2015 US$ compare
- 117 Trinidad and Tobago 22.15 billion constant 2015 US$ compare
- 118 Laos 22.10 billion constant 2015 US$ compare
- 119 Bosnia and Herzegovina 21.80 billion constant 2015 US$ compare
More economy & growth data for Iceland
- External balance on goods and services as a percent of GDP -2.3% (2025)
- Inflation of consumer prices 4.1% (2025)
- GDP per capita 58,910 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 8.5% (2025)
- GDP per capita in international and market dollars 58,910 constant 2015 US$ (2025)
- DEC alternative conversion factor 128.44 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -52.84 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) -383.05 million current US$ (2024)
- Taxes less subsidies on products 498.69 billion current LCU (2025)
- Taxes less subsidies on products 3.88 billion current US$ (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Iceland?
- Gross domestic product (gdp) in Iceland was 23.12 billion constant 2015 US$ in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Iceland?
- The highest recorded value was 23.12 billion constant 2015 US$ in 2023.
- What is the lowest gross domestic product (gdp) recorded in Iceland?
- The lowest recorded value was 2.50 billion constant 2015 US$ in 1961.
- How does Iceland rank for gross domestic product (gdp)?
- Iceland ranks 116th out of 209 countries with data for 2025.
- Is gross domestic product (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 National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor 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 by inflation but _does not_ account for differences in living costs between countries.