Gross domestic product (GDP) in Iceland
Iceland: Gross domestic product (GDP) was 26.71 billion international-$ in 2021 prices in 2025. ▲ Rising
Gross domestic product (GDP) in Iceland, 1990–2025
Source: Eurostat, OECD, IMF, and World Bank (2026) – with minor processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
Iceland recorded 26.71 billion international-$ in 2021 prices for gross domestic product (gdp) in 2025.
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 26.71 billion international-$ in 2021 prices in 2023 and was at its lowest, 10.59 billion international-$ in 2021 prices, in 1992.
Iceland ranks 149th of 198 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 36 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 11.57 billion international-$ in 2021 prices | 10.59 billion international-$ in 2021 prices | 13.46 billion international-$ in 2021 prices | 10 |
| 2000s | 16.95 billion international-$ in 2021 prices | 14.12 billion international-$ in 2021 prices | 20.30 billion international-$ in 2021 prices | 10 |
| 2010s | 20.63 billion international-$ in 2021 prices | 18.20 billion international-$ in 2021 prices | 23.80 billion international-$ in 2021 prices | 10 |
| 2020s | 25.13 billion international-$ in 2021 prices | 22.21 billion international-$ in 2021 prices | 26.71 billion international-$ in 2021 prices | 6 |
Countries ranked near Iceland
- 146 Sierra Leone 28.01 billion international-$ in 2021 prices compare
- 147 Somalia 27.59 billion international-$ in 2021 prices compare
- 148 Equatorial Guinea 26.72 billion international-$ in 2021 prices compare
- 150 Palestine 23.13 billion international-$ in 2021 prices compare
- 151 Montenegro 18.01 billion international-$ in 2021 prices compare
- 152 Burundi 15.35 billion international-$ in 2021 prices 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)
- Gross domestic product (GDP) 23.12 billion constant 2015 US$ (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)
Frequently asked questions
- What is gross domestic product (gdp) in Iceland?
- Gross domestic product (gdp) in Iceland was 26.71 billion international-$ in 2021 prices in 2025, according to Eurostat, OECD, IMF, and World Bank (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 26.71 billion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Iceland?
- The lowest recorded value was 10.59 billion international-$ in 2021 prices in 1992.
- How does Iceland rank for gross domestic product (gdp)?
- Iceland ranks 149th out of 198 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 rising.
- Where does this Iceland data come from?
- The figures come from Eurostat, OECD, IMF, and World Bank (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 for inflation and differences in living costs between countries.