Gross domestic product (GDP) in Iceland
Iceland: Gross domestic product (GDP) was 26.71 billion international-$ in 2021 prices in 2025. ▲ Rising
Latest (2025)
26.71 billion international-$ in 2021 prices
Change on year
up 1.3%
World rank
149th
of 198 countries
All-time high
26.71 billion international-$ in 2021 prices
in 2023
All-time low
10.59 billion international-$ in 2021 prices
in 1992
Years of data
36
1990–2025
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.
Gross domestic product (GDP) in Iceland, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1990 | 10.98 billion international-$ in 2021 prices | — |
| 1991 | 10.96 billion international-$ in 2021 prices | -0.2% |
| 1992 | 10.59 billion international-$ in 2021 prices | -3.4% |
| 1993 | 10.73 billion international-$ in 2021 prices | +1.3% |
| 1994 | 11.11 billion international-$ in 2021 prices | +3.6% |
| 1995 | 11.13 billion international-$ in 2021 prices | +0.1% |
| 1996 | 11.63 billion international-$ in 2021 prices | +4.5% |
| 1997 | 12.11 billion international-$ in 2021 prices | +4.1% |
| 1998 | 12.96 billion international-$ in 2021 prices | +7.0% |
| 1999 | 13.46 billion international-$ in 2021 prices | +3.9% |
| 2000 | 14.12 billion international-$ in 2021 prices | +4.9% |
| 2001 | 14.67 billion international-$ in 2021 prices | +3.8% |
| 2002 | 14.75 billion international-$ in 2021 prices | +0.5% |
| 2003 | 15.08 billion international-$ in 2021 prices | +2.3% |
| 2004 | 16.23 billion international-$ in 2021 prices | +7.6% |
| 2005 | 17.37 billion international-$ in 2021 prices | +7.0% |
| 2006 | 18.36 billion international-$ in 2021 prices | +5.7% |
| 2007 | 19.96 billion international-$ in 2021 prices | +8.7% |
| 2008 | 20.30 billion international-$ in 2021 prices | +1.7% |
| 2009 | 18.61 billion international-$ in 2021 prices | -8.3% |
| 2010 | 18.20 billion international-$ in 2021 prices | -2.2% |
| 2011 | 18.45 billion international-$ in 2021 prices | +1.4% |
| 2012 | 18.67 billion international-$ in 2021 prices | +1.2% |
| 2013 | 19.34 billion international-$ in 2021 prices | +3.6% |
| 2014 | 19.71 billion international-$ in 2021 prices | +1.9% |
| 2015 | 20.45 billion international-$ in 2021 prices | +3.8% |
| 2016 | 21.72 billion international-$ in 2021 prices | +6.2% |
| 2017 | 22.48 billion international-$ in 2021 prices | +3.5% |
| 2018 | 23.53 billion international-$ in 2021 prices | +4.7% |
| 2019 | 23.80 billion international-$ in 2021 prices | +1.1% |
| 2020 | 22.21 billion international-$ in 2021 prices | -6.6% |
| 2021 | 23.36 billion international-$ in 2021 prices | +5.2% |
| 2022 | 25.43 billion international-$ in 2021 prices | +8.9% |
| 2023 | 26.71 billion international-$ in 2021 prices | +5.0% |
| 2024 | 26.37 billion international-$ in 2021 prices | -1.3% |
| 2025 | 26.71 billion international-$ in 2021 prices | +1.3% |
Iceland compared with similar countries
- Iceland's 26.71 billion international-$ in 2021 prices is below the median for high income countries, which is 209.44 billion international-$ in 2021 prices, 13% of the median. (74 countries reporting)
- Iceland's 26.71 billion international-$ in 2021 prices is below the median for Europe & Central Asia, which is 249.10 billion international-$ in 2021 prices, 11% of the median. (52 countries reporting)
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
- 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Iceland?
- Gross domestic product (gdp) in Iceland was 26.71 billion international-$ 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.