Gross Domestic Product, GDP in millions constant 2021 international $ in Iceland
Iceland: Gross Domestic Product, GDP in millions constant 2021 international $ was 27,776 in 2027. ▲ Rising
Gross Domestic Product, GDP in millions constant 2021 international $ in Iceland, 1991–2027
Source: International Labour Organization.
Analysis
Iceland recorded 27,776 for gross domestic product, gdp in millions constant 2021 international $ in 2027. That is the highest value across all 37 years on record.
The figure is up 2.4% on the previous year and up 26.4% over ten years.
Over the whole period, gross domestic product, gdp in millions constant 2021 international $ in Iceland peaked at 27,776 in 2027 and was at its lowest, 9,856, in 1992.
That places Iceland 156th out of 188 countries with data for 2027, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 37 years of available data.
Gross Domestic Product, GDP in millions constant 2021 international $ in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1991 | 10,200 | — |
| 1992 | 9,856 | -3.4% |
| 1993 | 9,985 | +1.3% |
| 1994 | 10,346 | +3.6% |
| 1995 | 10,358 | +0.1% |
| 1996 | 10,831 | +4.6% |
| 1997 | 11,456 | +5.8% |
| 1998 | 12,299 | +7.4% |
| 1999 | 12,796 | +4.0% |
| 2000 | 13,434 | +5.0% |
| 2001 | 13,973 | +4.0% |
| 2002 | 14,051 | +0.6% |
| 2003 | 14,352 | +2.1% |
| 2004 | 15,472 | +7.8% |
| 2005 | 16,419 | +6.1% |
| 2006 | 17,456 | +6.3% |
| 2007 | 18,932 | +8.5% |
| 2008 | 19,351 | +2.2% |
| 2009 | 17,868 | -7.7% |
| 2010 | 17,362 | -2.8% |
| 2011 | 17,682 | +1.8% |
| 2012 | 17,870 | +1.1% |
| 2013 | 18,684 | +4.6% |
| 2014 | 18,999 | +1.7% |
| 2015 | 19,842 | +4.4% |
| 2016 | 21,092 | +6.3% |
| 2017 | 21,977 | +4.2% |
| 2018 | 23,052 | +4.9% |
| 2019 | 23,481 | +1.9% |
| 2020 | 21,920 | -6.6% |
| 2021 | 23,056 | +5.2% |
| 2022 | 25,090 | +8.8% |
| 2023 | 26,391 | +5.2% |
| 2024 | 26,135 | -1.0% |
| 2025 | 26,508 | +1.4% |
| 2026 | 27,119 | +2.3% |
| 2027 | 27,776 | +2.4% |
Iceland compared with similar countries
- Iceland's 27,776 is below the median for high income countries, which is 390,765, 7% of the median. (62 countries reporting)
- Iceland's 27,776 is below the median for Europe & Central Asia, which is 367,047, 8% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10,903 | 9,856 | 12,796 | 9 |
| 2000s | 16,131 | 13,434 | 19,351 | 10 |
| 2010s | 20,004 | 17,362 | 23,481 | 10 |
| 2020s | 25,499 | 21,920 | 27,776 | 8 |
Countries ranked near Iceland
- 153 Somalia 29,545 compare
- 154 Equatorial Guinea 29,215 compare
- 155 Palestine, State of 29,016 compare
- 157 Montenegro 19,421 compare
- 158 Bahamas 15,449 compare
- 159 Bhutan 14,595 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 millions constant 2021 international $ in Iceland?
- Gross domestic product, gdp in millions constant 2021 international $ in Iceland was 27,776 in 2027, according to International Labour Organization.
- What is the highest gross domestic product, gdp in millions constant 2021 international $ recorded in Iceland?
- The highest recorded value was 27,776 in 2027.
- What is the lowest gross domestic product, gdp in millions constant 2021 international $ recorded in Iceland?
- The lowest recorded value was 9,856 in 1992.
- How does Iceland rank for gross domestic product, gdp in millions constant 2021 international $?
- Iceland ranks 156th out of 188 countries with data for 2027.
- Is gross domestic product, gdp in millions constant 2021 international $ rising or falling in Iceland?
- Over the last ten years it is up 26.4%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Labour Organization, published as part of Gross Domestic Product, GDP in millions constant 2021 international $ at PPP (ILO modelled estimates). Statizoid updates them automatically from the source API.
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About this data
Gross Domestic Product (GDP), Purchasing Power Parity (millions of PPP, constant 2021 international dollars) is a measure to assess the total economic output of a country, adjusted for differences in the purchasing power of the different currencies relative to the US dollar. It is derived from the World Development Indicators of the World Bank. For more information, refer to the ILO Modelled Estimates (ILOEST) database description.