Gross Domestic Product — Annual growth US$, 2015 prices in Iceland
Iceland: Gross Domestic Product — Annual growth US$, 2015 prices was 0.5169 % in 2024. ◆ Volatile
Gross Domestic Product — Annual growth US$, 2015 prices in Iceland, 1971–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
The most recent figure for gross domestic product — annual growth us$, 2015 prices in Iceland is 0.5169 %, measured in 2024.
Compared with earlier readings it is down 89.7% on the previous year and down 69.4% over ten years.
Over the whole period, gross domestic product — annual growth us$, 2015 prices in Iceland peaked at 13.06 % in 1971 and was at its lowest, -7.66 %, in 2009.
Iceland ranks 203rd of 236 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Annual growth US$, 2015 prices in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 13.06 % | — |
| 1972 | 6.18 % | -52.7% |
| 1973 | 6.81 % | +10.2% |
| 1974 | 5.71 % | -16.2% |
| 1975 | 0.6462 % | -88.7% |
| 1976 | 5.96 % | +822.3% |
| 1977 | 8.82 % | +48.0% |
| 1978 | 6.02 % | -31.8% |
| 1979 | 4.86 % | -19.2% |
| 1980 | 5.75 % | +18.3% |
| 1981 | 4.27 % | -25.8% |
| 1982 | 2.15 % | -49.5% |
| 1983 | -2.15 % | -199.8% |
| 1984 | 4.13 % | -291.9% |
| 1985 | 3.29 % | -20.3% |
| 1986 | 6.27 % | +90.4% |
| 1987 | 8.55 % | +36.3% |
| 1988 | -0.0897 % | -101.0% |
| 1989 | 0.2584 % | -388.0% |
| 1990 | 1.17 % | +352.5% |
| 1991 | -0.2235 % | -119.1% |
| 1992 | -3.37 % | +1409.4% |
| 1993 | 1.31 % | -138.9% |
| 1994 | 3.61 % | +174.8% |
| 1995 | 0.1166 % | -96.8% |
| 1996 | 4.57 % | +3817.5% |
| 1997 | 5.77 % | +26.4% |
| 1998 | 7.36 % | +27.6% |
| 1999 | 4.03 % | -45.2% |
| 2000 | 4.99 % | +23.5% |
| 2001 | 4.01 % | -19.5% |
| 2002 | 0.5595 % | -86.1% |
| 2003 | 2.14 % | +283.0% |
| 2004 | 7.8 % | +264.1% |
| 2005 | 6.12 % | -21.5% |
| 2006 | 6.32 % | +3.1% |
| 2007 | 8.45 % | +33.8% |
| 2008 | 2.21 % | -73.9% |
| 2009 | -7.66 % | -446.9% |
| 2010 | -2.83 % | -63.0% |
| 2011 | 1.85 % | -165.2% |
| 2012 | 1.06 % | -42.4% |
| 2013 | 4.55 % | +328.0% |
| 2014 | 1.69 % | -62.9% |
| 2015 | 4.44 % | +163.0% |
| 2016 | 6.3 % | +42.1% |
| 2017 | 4.19 % | -33.5% |
| 2018 | 4.89 % | +16.5% |
| 2019 | 1.86 % | -61.9% |
| 2020 | -6.94 % | -472.9% |
| 2021 | 5.25 % | -175.7% |
| 2022 | 8.99 % | +71.1% |
| 2023 | 5.04 % | -44.0% |
| 2024 | 0.5169 % | -89.7% |
Iceland compared with similar countries
- Iceland's 0.5169 % is below the median for high income countries, which is 2.64 %, 20% of the median. (73 countries reporting)
- Iceland's 0.5169 % is below the median for Europe & Central Asia, which is 2.57 %, 20% of the median. (52 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Annual growth US$, 2015 prices in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1996 | +3817.5% | 0.1166 % | 4.57 % |
| 1992 | -1409.4% | -0.2235 % | -3.37 % |
| 1976 | +822.3% | 0.6462 % | 5.96 % |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.45 % | 0.6462 % | 13.06 % | 9 |
| 1980s | 3.24 % | -2.15 % | 8.55 % | 10 |
| 1990s | 2.43 % | -3.37 % | 7.36 % | 10 |
| 2000s | 3.49 % | -7.66 % | 8.45 % | 10 |
| 2010s | 2.8 % | -2.83 % | 6.3 % | 10 |
| 2020s | 2.57 % | -6.94 % | 8.99 % | 5 |
Countries ranked near Iceland
- 200 Micronesia (Federated States of) 0.7191 % compare
- 201 San Marino 0.7062 % compare
- 202 South Africa 0.5799 % compare
- 204 Hungary 0.5123 % compare
- 205 Czechoslovakia 0.3858 % compare
- 206 Montserrat 0.3336 % compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ 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 — annual growth us$, 2015 prices in Iceland?
- Gross domestic product — annual growth us$, 2015 prices in Iceland was 0.5169 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — annual growth us$, 2015 prices recorded in Iceland?
- The highest recorded value was 13.06 % in 1971.
- What is the lowest gross domestic product — annual growth us$, 2015 prices recorded in Iceland?
- The lowest recorded value was -7.66 % in 2009.
- How does Iceland rank for gross domestic product — annual growth us$, 2015 prices?
- Iceland ranks 203rd out of 236 countries with data for 2024.
- Is gross domestic product — annual growth us$, 2015 prices rising or falling in Iceland?
- Over the last ten years it is down 69.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Annual growth US$, 2015 prices. Statizoid updates them automatically from the source API.
Download this data
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).