Gross domestic product (GDP), per unit of GDP in Iceland
Iceland: Gross domestic product (GDP), per unit of GDP was 0.7726 international-$ in 2021 prices per US$ of GDP in 2023. ◆ Volatile
Latest (2023)
0.7726 international-$ in 2021 prices per US$ of GDP
Change on year
down 2.5%
World rank
176th
of 180 countries
All-time high
9.95 international-$ in 2021 prices per US$ of GDP
in 1961
All-time low
0.6695 international-$ in 2021 prices per US$ of GDP
in 2007
Years of data
64
1960–2023
Gross domestic product (GDP), per unit of GDP in Iceland, 1960–2023
Source: Statizoid (derived). Measured in international-$ in 2021 prices per US$ of GDP.
Analysis
Iceland recorded 0.7726 international-$ in 2021 prices per US$ of GDP for gross domestic product (gdp), per unit of gdp in 2023.
Compared with earlier readings it is down 2.5% on the previous year and down 23.4% over ten years.
Over the whole period, gross domestic product (gdp), per unit of gdp in Iceland peaked at 9.95 international-$ in 2021 prices per US$ of GDP in 1961 and was at its lowest, 0.6695 international-$ in 2021 prices per US$ of GDP, in 2007.
That places Iceland 176th out of 180 countries with data for 2023, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), per unit of GDP in Iceland, year by year
| Year | international-$ in 2021 prices per US$ of GDP | Change |
|---|---|---|
| 1960 | 9.72 international-$ in 2021 prices per US$ of GDP | — |
| 1961 | 9.95 international-$ in 2021 prices per US$ of GDP | +2.4% |
| 1962 | 9.21 international-$ in 2021 prices per US$ of GDP | -7.5% |
| 1963 | 8.64 international-$ in 2021 prices per US$ of GDP | -6.2% |
| 1964 | 7.62 international-$ in 2021 prices per US$ of GDP | -11.8% |
| 1965 | 6.91 international-$ in 2021 prices per US$ of GDP | -9.3% |
| 1966 | 6.15 international-$ in 2021 prices per US$ of GDP | -10.9% |
| 1967 | 6.03 international-$ in 2021 prices per US$ of GDP | -2.0% |
| 1968 | 7.29 international-$ in 2021 prices per US$ of GDP | +20.9% |
| 1969 | 8.76 international-$ in 2021 prices per US$ of GDP | +20.2% |
| 1970 | 7.49 international-$ in 2021 prices per US$ of GDP | -14.4% |
| 1971 | 7.04 international-$ in 2021 prices per US$ of GDP | -6.0% |
| 1972 | 5.56 international-$ in 2021 prices per US$ of GDP | -21.1% |
| 1973 | 4.51 international-$ in 2021 prices per US$ of GDP | -18.8% |
| 1974 | 3.69 international-$ in 2021 prices per US$ of GDP | -18.1% |
| 1975 | 4 international-$ in 2021 prices per US$ of GDP | +8.3% |
| 1976 | 3.39 international-$ in 2021 prices per US$ of GDP | -15.3% |
| 1977 | 2.88 international-$ in 2021 prices per US$ of GDP | -15.0% |
| 1978 | 2.65 international-$ in 2021 prices per US$ of GDP | -7.8% |
| 1979 | 2.45 international-$ in 2021 prices per US$ of GDP | -7.7% |
| 1980 | 2.2 international-$ in 2021 prices per US$ of GDP | -10.4% |
| 1981 | 2.23 international-$ in 2021 prices per US$ of GDP | +1.4% |
| 1982 | 2.52 international-$ in 2021 prices per US$ of GDP | +13.2% |
| 1983 | 2.65 international-$ in 2021 prices per US$ of GDP | +5.1% |
| 1984 | 2.8 international-$ in 2021 prices per US$ of GDP | +5.9% |
| 1985 | 2.67 international-$ in 2021 prices per US$ of GDP | -4.8% |
| 1986 | 2.18 international-$ in 2021 prices per US$ of GDP | -18.4% |
| 1987 | 1.77 international-$ in 2021 prices per US$ of GDP | -19.0% |
| 1988 | 1.64 international-$ in 2021 prices per US$ of GDP | -7.0% |
| 1989 | 1.69 international-$ in 2021 prices per US$ of GDP | +3.0% |
| 1990 | 1.48 international-$ in 2021 prices per US$ of GDP | -12.4% |
| 1991 | 1.41 international-$ in 2021 prices per US$ of GDP | -4.6% |
| 1992 | 1.32 international-$ in 2021 prices per US$ of GDP | -6.4% |
| 1993 | 1.53 international-$ in 2021 prices per US$ of GDP | +15.6% |
| 1994 | 1.54 international-$ in 2021 prices per US$ of GDP | +0.5% |
| 1995 | 1.38 international-$ in 2021 prices per US$ of GDP | -10.3% |
| 1996 | 1.36 international-$ in 2021 prices per US$ of GDP | -1.7% |
| 1997 | 1.48 international-$ in 2021 prices per US$ of GDP | +8.9% |
| 1998 | 1.39 international-$ in 2021 prices per US$ of GDP | -6.1% |
| 1999 | 1.41 international-$ in 2021 prices per US$ of GDP | +1.4% |
| 2000 | 1.41 international-$ in 2021 prices per US$ of GDP | +0.4% |
| 2001 | 1.63 international-$ in 2021 prices per US$ of GDP | +15.2% |
| 2002 | 1.45 international-$ in 2021 prices per US$ of GDP | -10.9% |
| 2003 | 1.15 international-$ in 2021 prices per US$ of GDP | -20.6% |
| 2004 | 1.01 international-$ in 2021 prices per US$ of GDP | -12.3% |
| 2005 | 0.8509 international-$ in 2021 prices per US$ of GDP | -15.6% |
| 2006 | 0.7871 international-$ in 2021 prices per US$ of GDP | -7.5% |
| 2007 | 0.6695 international-$ in 2021 prices per US$ of GDP | -14.9% |
| 2008 | 0.9268 international-$ in 2021 prices per US$ of GDP | +38.4% |
| 2009 | 1.25 international-$ in 2021 prices per US$ of GDP | +34.6% |
| 2010 | 1.12 international-$ in 2021 prices per US$ of GDP | -9.9% |
| 2011 | 1.05 international-$ in 2021 prices per US$ of GDP | -7.0% |
| 2012 | 1.12 international-$ in 2021 prices per US$ of GDP | +6.9% |
| 2013 | 1.01 international-$ in 2021 prices per US$ of GDP | -9.7% |
| 2014 | 0.9189 international-$ in 2021 prices per US$ of GDP | -8.9% |
| 2015 | 0.9726 international-$ in 2021 prices per US$ of GDP | +5.9% |
| 2016 | 0.8282 international-$ in 2021 prices per US$ of GDP | -14.9% |
| 2017 | 0.7185 international-$ in 2021 prices per US$ of GDP | -13.2% |
| 2018 | 0.7068 international-$ in 2021 prices per US$ of GDP | -1.6% |
| 2019 | 0.8533 international-$ in 2021 prices per US$ of GDP | +20.7% |
| 2020 | 0.9068 international-$ in 2021 prices per US$ of GDP | +6.3% |
| 2021 | 0.801 international-$ in 2021 prices per US$ of GDP | -11.7% |
| 2022 | 0.7924 international-$ in 2021 prices per US$ of GDP | -1.1% |
| 2023 | 0.7726 international-$ in 2021 prices per US$ of GDP | -2.5% |
Iceland compared with similar countries
- Iceland's 0.7726 international-$ in 2021 prices per US$ of GDP is below the median for high income countries, which is 1.23 international-$ in 2021 prices per US$ of GDP, 63% of the median. (65 countries reporting)
- Iceland's 0.7726 international-$ in 2021 prices per US$ of GDP is below the median for Europe & Central Asia, which is 1.5 international-$ in 2021 prices per US$ of GDP, 51% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 8.03 international-$ in 2021 prices per US$ of GDP | 6.03 international-$ in 2021 prices per US$ of GDP | 9.95 international-$ in 2021 prices per US$ of GDP | 10 |
| 1970s | 4.37 international-$ in 2021 prices per US$ of GDP | 2.45 international-$ in 2021 prices per US$ of GDP | 7.49 international-$ in 2021 prices per US$ of GDP | 10 |
| 1980s | 2.23 international-$ in 2021 prices per US$ of GDP | 1.64 international-$ in 2021 prices per US$ of GDP | 2.8 international-$ in 2021 prices per US$ of GDP | 10 |
| 1990s | 1.43 international-$ in 2021 prices per US$ of GDP | 1.32 international-$ in 2021 prices per US$ of GDP | 1.54 international-$ in 2021 prices per US$ of GDP | 10 |
| 2000s | 1.11 international-$ in 2021 prices per US$ of GDP | 0.6695 international-$ in 2021 prices per US$ of GDP | 1.63 international-$ in 2021 prices per US$ of GDP | 10 |
| 2010s | 0.9293 international-$ in 2021 prices per US$ of GDP | 0.7068 international-$ in 2021 prices per US$ of GDP | 1.12 international-$ in 2021 prices per US$ of GDP | 10 |
| 2020s | 0.8182 international-$ in 2021 prices per US$ of GDP | 0.7726 international-$ in 2021 prices per US$ of GDP | 0.9068 international-$ in 2021 prices per US$ of GDP | 4 |
Countries ranked near Iceland
- 173 Bahamas 0.8996 international-$ in 2021 prices per US$ of GDP compare
- 174 Switzerland 0.8595 international-$ in 2021 prices per US$ of GDP compare
- 175 Israel 0.7956 international-$ in 2021 prices per US$ of GDP compare
- 177 Luxembourg 0.7072 international-$ in 2021 prices per US$ of GDP compare
- 178 Bermuda 0.4676 international-$ in 2021 prices per US$ of GDP compare
- 179 Barbados 0.4234 international-$ in 2021 prices per US$ of GDP 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp), per unit of gdp in Iceland?
- Gross domestic product (gdp), per unit of gdp in Iceland was 0.7726 international-$ in 2021 prices per US$ of GDP in 2023, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), per unit of gdp recorded in Iceland?
- The highest recorded value was 9.95 international-$ in 2021 prices per US$ of GDP in 1961.
- What is the lowest gross domestic product (gdp), per unit of gdp recorded in Iceland?
- The lowest recorded value was 0.6695 international-$ in 2021 prices per US$ of GDP in 2007.
- How does Iceland rank for gross domestic product (gdp), per unit of gdp?
- Iceland ranks 176th out of 180 countries with data for 2023.
- Is gross domestic product (gdp), per unit of gdp rising or falling in Iceland?
- Over the last ten years it is down 23.4%. 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), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Gross domestic product (GDP) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross domestic product (GDP) ÷ GDP (current US$)
Computed from
- Gross domestic product (GDP) Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
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
Gross domestic product (GDP) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.