Gross domestic product (GDP), Constant prices, Purchasing power in Iceland
Iceland: Gross domestic product (GDP), Constant prices, Purchasing power was 1.94 % change on previous year in 2019. ◆ Volatile
Gross domestic product (GDP), Constant prices, Purchasing power in Iceland, 1961–2019
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Iceland recorded 1.94 % change on previous year for gross domestic product (gdp), constant prices, purchasing power in 2019.
The figure is down 49.7% on the previous year and up 128.7% over ten years.
Over the whole period, gross domestic product (gdp), constant prices, purchasing power in Iceland peaked at 13.7 % change on previous year in 1998 and was at its lowest, -6.78 % change on previous year, in 2009.
That places Iceland 121st out of 193 countries with data for 2019, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), Constant prices, Purchasing power in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1961 | -0.0837 % change on previous year | — |
| 1962 | 8.31 % change on previous year | -10026.1% |
| 1963 | 10.28 % change on previous year | +23.7% |
| 1964 | 9.92 % change on previous year | -3.6% |
| 1965 | 7.29 % change on previous year | -26.5% |
| 1966 | 8.74 % change on previous year | +19.9% |
| 1967 | -1.27 % change on previous year | -114.5% |
| 1968 | -5.47 % change on previous year | +331.6% |
| 1969 | 2.37 % change on previous year | -143.4% |
| 1970 | 7.46 % change on previous year | +214.2% |
| 1971 | 13.06 % change on previous year | +75.1% |
| 1972 | 6.18 % change on previous year | -52.7% |
| 1973 | 6.81 % change on previous year | +10.2% |
| 1974 | 5.71 % change on previous year | -16.2% |
| 1975 | 0.6463 % change on previous year | -88.7% |
| 1976 | 5.96 % change on previous year | +822.0% |
| 1977 | 8.82 % change on previous year | +48.0% |
| 1978 | 6.02 % change on previous year | -31.8% |
| 1979 | 4.86 % change on previous year | -19.2% |
| 1980 | 5.75 % change on previous year | +18.3% |
| 1981 | 4.27 % change on previous year | -25.8% |
| 1982 | 2.15 % change on previous year | -49.5% |
| 1983 | -2.15 % change on previous year | -199.8% |
| 1984 | 4.13 % change on previous year | -292.0% |
| 1985 | 3.29 % change on previous year | -20.3% |
| 1986 | 6.27 % change on previous year | +90.4% |
| 1987 | 8.55 % change on previous year | +36.3% |
| 1988 | -0.0898 % change on previous year | -101.1% |
| 1989 | 0.2585 % change on previous year | -388.0% |
| 1990 | 1.17 % change on previous year | +352.3% |
| 1991 | -0.2235 % change on previous year | -119.1% |
| 1992 | -3.37 % change on previous year | +1409.3% |
| 1993 | 1.31 % change on previous year | -138.9% |
| 1994 | 3.61 % change on previous year | +174.7% |
| 1995 | 0.1165 % change on previous year | -96.8% |
| 1996 | 4.57 % change on previous year | +3824.4% |
| 1997 | 5.76 % change on previous year | +26.0% |
| 1998 | 13.7 % change on previous year | +137.9% |
| 1999 | -2 % change on previous year | -114.6% |
| 2000 | 4.89 % change on previous year | -344.2% |
| 2001 | 3.9 % change on previous year | -20.3% |
| 2002 | 0.6813 % change on previous year | -82.5% |
| 2003 | 2.27 % change on previous year | +232.9% |
| 2004 | 8.04 % change on previous year | +254.6% |
| 2005 | 6.33 % change on previous year | -21.3% |
| 2006 | 5.25 % change on previous year | -17.1% |
| 2007 | 9.37 % change on previous year | +78.4% |
| 2008 | 1.99 % change on previous year | -78.7% |
| 2009 | -6.78 % change on previous year | -440.2% |
| 2010 | -3.44 % change on previous year | -49.3% |
| 2011 | 1.88 % change on previous year | -154.8% |
| 2012 | 1.3 % change on previous year | -31.1% |
| 2013 | 4.13 % change on previous year | +218.8% |
| 2014 | 2.08 % change on previous year | -49.6% |
| 2015 | 4.75 % change on previous year | +128.0% |
| 2016 | 6.63 % change on previous year | +39.5% |
| 2017 | 4.52 % change on previous year | -31.8% |
| 2018 | 3.86 % change on previous year | -14.6% |
| 2019 | 1.94 % change on previous year | -49.7% |
Iceland compared with similar countries
- Iceland's 1.94 % change on previous year is above the median for high income countries, which is 1.81 % change on previous year, 1.1× the median. (65 countries reporting)
- Iceland's 1.94 % change on previous year is below the median for Europe & Central Asia, which is 2.4 % change on previous year, 81% of the median. (49 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), Constant prices, Purchasing power 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 |
|---|---|---|---|
| 1962 | +10026.1% | -0.0837 % change on previous year | 8.31 % change on previous year |
| 1996 | +3824.4% | 0.1165 % change on previous year | 4.57 % change on previous year |
| 1992 | -1409.3% | -0.2235 % change on previous year | -3.37 % change on previous year |
| 1976 | +822.0% | 0.6463 % change on previous year | 5.96 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 4.45 % change on previous year | -5.47 % change on previous year | 10.28 % change on previous year | 9 |
| 1970s | 6.55 % change on previous year | 0.6463 % change on previous year | 13.06 % change on previous year | 10 |
| 1980s | 3.24 % change on previous year | -2.15 % change on previous year | 8.55 % change on previous year | 10 |
| 1990s | 2.46 % change on previous year | -3.37 % change on previous year | 13.7 % change on previous year | 10 |
| 2000s | 3.59 % change on previous year | -6.78 % change on previous year | 9.37 % change on previous year | 10 |
| 2010s | 2.77 % change on previous year | -3.44 % change on previous year | 6.63 % change on previous year | 10 |
Countries ranked near Iceland
- 118 Grenada 2 % change on previous year compare
- 119 Jordan 1.95 % change on previous year compare
- 120 Spain 1.95 % change on previous year compare
- 122 Greece 1.86 % change on previous year compare
- 123 Bahrain 1.82 % change on previous year compare
- 124 Australia 1.81 % change on previous year 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)
- IMF holdings of currency, SDR, annual growth rate 0 % change on previous year (2025)
- IMF holdings of currency, SDR, per unit of GDP 0.0065 units per US$ of GDP (2025)
- IMF holdings of currency, SDR, per capita 642.2 units per person (2025)
- Lending to the IMF (GRA), SDR, per capita 0 units per person (2025)
- SDR Allocation, US dollar, annual growth rate 5.01 % change on previous year (2025)
- SDR Allocation, US dollar, per unit of GDP 0.0149 units per US$ of GDP (2025)
- SDR Allocation, US dollar, per capita 1,468 units per person (2025)
- SDR Allocation, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp), constant prices, purchasing power in Iceland?
- Gross domestic product (gdp), constant prices, purchasing power in Iceland was 1.94 % change on previous year in 2019, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), constant prices, purchasing power recorded in Iceland?
- The highest recorded value was 13.7 % change on previous year in 1998.
- What is the lowest gross domestic product (gdp), constant prices, purchasing power recorded in Iceland?
- The lowest recorded value was -6.78 % change on previous year in 2009.
- How does Iceland rank for gross domestic product (gdp), constant prices, purchasing power?
- Iceland ranks 121st out of 193 countries with data for 2019.
- Is gross domestic product (gdp), constant prices, purchasing power rising or falling in Iceland?
- Over the last ten years it is up 128.7%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Gross domestic product (GDP), Constant prices, Purchasing power parity (PPP) international dollar, ICP benchmark 2017, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 59 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross domestic product (GDP), Constant prices, Purchasing power parity (PPP) international dollar, ICP benchmark 2017. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross domestic product (GDP), Constant prices, Purchasing power International Monetary Fund
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross domestic product (GDP), Constant prices, Purchasing power parity (PPP) international dollar, ICP benchmark 2017. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.