Gross Domestic Product — Value Standard Local Currency, 2015 prices in Iceland
Iceland: Gross Domestic Product — Value Standard Local Currency, 2015 prices was 3.08 million million SLC in 2024. ▲ Rising
Gross Domestic Product — Value Standard Local Currency, 2015 prices in Iceland, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
Iceland recorded 3.08 million million SLC for gross domestic product — value standard local currency, 2015 prices in 2024. That is the highest value across all 55 years on record.
Compared with earlier readings it is up 0.5% on the previous year and up 39.3% over ten years.
Over the whole period, gross domestic product — value standard local currency, 2015 prices in Iceland peaked at 3.08 million million SLC in 2024 and was at its lowest, 491,371 million SLC, in 1970.
Iceland ranks 61st of 194 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 55 years of available data.
Gross Domestic Product — Value Standard Local Currency, 2015 prices in Iceland, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 491,371 million SLC | — |
| 1971 | 555,548 million SLC | +13.1% |
| 1972 | 589,866 million SLC | +6.2% |
| 1973 | 630,012 million SLC | +6.8% |
| 1974 | 665,963 million SLC | +5.7% |
| 1975 | 670,266 million SLC | +0.6% |
| 1976 | 710,209 million SLC | +6.0% |
| 1977 | 772,866 million SLC | +8.8% |
| 1978 | 819,367 million SLC | +6.0% |
| 1979 | 859,193 million SLC | +4.9% |
| 1980 | 908,579 million SLC | +5.7% |
| 1981 | 947,330 million SLC | +4.3% |
| 1982 | 967,741 million SLC | +2.2% |
| 1983 | 946,923 million SLC | -2.2% |
| 1984 | 986,023 million SLC | +4.1% |
| 1985 | 1.02 million million SLC | +3.3% |
| 1986 | 1.08 million million SLC | +6.3% |
| 1987 | 1.17 million million SLC | +8.5% |
| 1988 | 1.17 million million SLC | -0.1% |
| 1989 | 1.18 million million SLC | +0.3% |
| 1990 | 1.19 million million SLC | +1.2% |
| 1991 | 1.19 million million SLC | -0.2% |
| 1992 | 1.15 million million SLC | -3.4% |
| 1993 | 1.16 million million SLC | +1.3% |
| 1994 | 1.20 million million SLC | +3.6% |
| 1995 | 1.21 million million SLC | +0.1% |
| 1996 | 1.26 million million SLC | +4.6% |
| 1997 | 1.33 million million SLC | +5.8% |
| 1998 | 1.43 million million SLC | +7.4% |
| 1999 | 1.49 million million SLC | +4.0% |
| 2000 | 1.56 million million SLC | +5.0% |
| 2001 | 1.63 million million SLC | +4.0% |
| 2002 | 1.64 million million SLC | +0.6% |
| 2003 | 1.67 million million SLC | +2.1% |
| 2004 | 1.80 million million SLC | +7.8% |
| 2005 | 1.91 million million SLC | +6.1% |
| 2006 | 2.03 million million SLC | +6.3% |
| 2007 | 2.20 million million SLC | +8.5% |
| 2008 | 2.25 million million SLC | +2.2% |
| 2009 | 2.08 million million SLC | -7.7% |
| 2010 | 2.02 million million SLC | -2.8% |
| 2011 | 2.06 million million SLC | +1.8% |
| 2012 | 2.08 million million SLC | +1.1% |
| 2013 | 2.18 million million SLC | +4.6% |
| 2014 | 2.21 million million SLC | +1.7% |
| 2015 | 2.31 million million SLC | +4.4% |
| 2016 | 2.46 million million SLC | +6.3% |
| 2017 | 2.56 million million SLC | +4.2% |
| 2018 | 2.68 million million SLC | +4.9% |
| 2019 | 2.73 million million SLC | +1.9% |
| 2020 | 2.54 million million SLC | -6.9% |
| 2021 | 2.68 million million SLC | +5.3% |
| 2022 | 2.92 million million SLC | +9.0% |
| 2023 | 3.07 million million SLC | +5.0% |
| 2024 | 3.08 million million SLC | +0.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 676,466 million SLC | 491,371 million SLC | 859,193 million SLC | 10 |
| 1980s | 1.04 million million SLC | 908,579 million SLC | 1.18 million million SLC | 10 |
| 1990s | 1.26 million million SLC | 1.15 million million SLC | 1.49 million million SLC | 10 |
| 2000s | 1.88 million million SLC | 1.56 million million SLC | 2.25 million million SLC | 10 |
| 2010s | 2.33 million million SLC | 2.02 million million SLC | 2.73 million million SLC | 10 |
| 2020s | 2.86 million million SLC | 2.54 million million SLC | 3.08 million million SLC | 5 |
Countries ranked near Iceland
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)
- Gross capital formation (constant 2015 US$), annual growth rate 5.88 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.1585 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 15,584 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 12.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.4237 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 41,663 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 4.9 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 54.43 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product — value standard local currency, 2015 prices in Iceland?
- Gross domestic product — value standard local currency, 2015 prices in Iceland was 3.08 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency, 2015 prices recorded in Iceland?
- The highest recorded value was 3.08 million million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency, 2015 prices recorded in Iceland?
- The lowest recorded value was 491,371 million SLC in 1970.
- How does Iceland rank for gross domestic product — value standard local currency, 2015 prices?
- Iceland ranks 61st out of 194 countries with data for 2024.
- Is gross domestic product — value standard local currency, 2015 prices rising or falling in Iceland?
- Over the last ten years it is up 39.3%. The long-run trend across the full record is rising.
- 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 — Value Standard Local Currency, 2015 prices. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
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).