Gross domestic savings (% of GDP) in Iceland
Iceland: Gross domestic savings (% of GDP) was 24.3% in 2025. ▼ Falling
Gross domestic savings in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
The most recent figure for gross domestic savings in Iceland is 24.3%, measured in 2025.
That represents a change of down 2.7% on the previous year and down 9.9% over ten years.
Over the whole period, gross domestic savings in Iceland peaked at 31.2% in 1973 and was at its lowest, 17.6%, in 2005.
That places Iceland 72nd out of 188 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently falling across the 56 years of available data.
Gross domestic savings (% of GDP) in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 28.0% | — |
| 1971 | 27.9% | -0.3% |
| 1972 | 27.6% | -1.0% |
| 1973 | 31.2% | +12.9% |
| 1974 | 27.3% | -12.6% |
| 1975 | 27.8% | +1.9% |
| 1976 | 30.0% | +8.1% |
| 1977 | 30.1% | +0.1% |
| 1978 | 28.7% | -4.5% |
| 1979 | 27.2% | -5.4% |
| 1980 | 27.9% | +2.8% |
| 1981 | 26.2% | -6.1% |
| 1982 | 24.3% | -7.5% |
| 1983 | 24.1% | -0.6% |
| 1984 | 24.1% | -0.2% |
| 1985 | 21.9% | -9.0% |
| 1986 | 23.2% | +6.1% |
| 1987 | 20.6% | -11.2% |
| 1988 | 20.9% | +1.3% |
| 1989 | 22.0% | +5.3% |
| 1990 | 21.2% | -3.5% |
| 1991 | 19.8% | -6.9% |
| 1992 | 19.0% | -3.9% |
| 1993 | 21.0% | +10.6% |
| 1994 | 22.1% | +5.1% |
| 1995 | 20.9% | -5.4% |
| 1996 | 20.5% | -1.8% |
| 1997 | 21.8% | +6.2% |
| 1998 | 21.2% | -2.9% |
| 1999 | 18.8% | -11.3% |
| 2000 | 17.8% | -5.1% |
| 2001 | 21.8% | +22.4% |
| 2002 | 21.1% | -3.3% |
| 2003 | 18.2% | -13.7% |
| 2004 | 19.0% | +4.6% |
| 2005 | 17.6% | -7.6% |
| 2006 | 19.4% | +10.5% |
| 2007 | 20.8% | +6.9% |
| 2008 | 23.8% | +14.6% |
| 2009 | 22.8% | -4.3% |
| 2010 | 23.6% | +3.7% |
| 2011 | 23.1% | -2.3% |
| 2012 | 21.8% | -5.5% |
| 2013 | 23.0% | +5.2% |
| 2014 | 23.6% | +2.8% |
| 2015 | 27.0% | +14.2% |
| 2016 | 28.0% | +3.9% |
| 2017 | 26.6% | -5.3% |
| 2018 | 26.2% | -1.3% |
| 2019 | 25.8% | -1.4% |
| 2020 | 20.7% | -20.0% |
| 2021 | 21.3% | +3.1% |
| 2022 | 24.7% | +15.8% |
| 2023 | 26.1% | +5.9% |
| 2024 | 25.0% | -4.4% |
| 2025 | 24.3% | -2.7% |
Iceland compared with similar countries
- Iceland's 24.3% is below the median for high income countries, which is 25.7%, 95% of the median. (67 countries reporting)
- Iceland's 24.3% is above the median for Europe & Central Asia, which is 24.2%, 1.0× the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 28.6% | 27.2% | 31.2% | 10 |
| 1980s | 23.5% | 20.6% | 27.9% | 10 |
| 1990s | 20.6% | 18.8% | 22.1% | 10 |
| 2000s | 20.2% | 17.6% | 23.8% | 10 |
| 2010s | 24.9% | 21.8% | 28.0% | 10 |
| 2020s | 23.7% | 20.7% | 26.1% | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- 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)
Frequently asked questions
- What is gross domestic savings in Iceland?
- Gross domestic savings in Iceland was 24.3% in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross domestic savings recorded in Iceland?
- The highest recorded value was 31.2% in 1973.
- What is the lowest gross domestic savings recorded in Iceland?
- The lowest recorded value was 17.6% in 2005.
- How does Iceland rank for gross domestic savings?
- Iceland ranks 72nd out of 188 countries with data for 2025.
- Is gross domestic savings rising or falling in Iceland?
- Over the last ten years it is down 9.9%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross domestic savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption). This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.