Gross National Income — Annual growth Standard Local Currency in Iceland
Iceland: Gross National Income — Annual growth Standard Local Currency was 13.09 % in 2023. ◆ Volatile
Gross National Income — Annual growth Standard Local Currency in Iceland, 1971–2023
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
Iceland recorded 13.09 % for gross national income — annual growth standard local currency in 2023.
That represents a change of down 26.8% on the previous year and down 19.0% over ten years.
Over the whole period, gross national income — annual growth standard local currency in Iceland peaked at 72.15 % in 1983 and was at its lowest, -2.74 %, in 2020.
That places Iceland 49th out of 202 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross National Income — Annual growth Standard Local Currency in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 27.49 % | — |
| 1972 | 25.2 % | -8.3% |
| 1973 | 40.5 % | +60.7% |
| 1974 | 45.35 % | +12.0% |
| 1975 | 41.31 % | -8.9% |
| 1976 | 40.43 % | -2.1% |
| 1977 | 45 % | +11.3% |
| 1978 | 54.47 % | +21.0% |
| 1979 | 47.65 % | -12.5% |
| 1980 | 61.06 % | +28.2% |
| 1981 | 54.47 % | -10.8% |
| 1982 | 56.02 % | +2.8% |
| 1983 | 72.15 % | +28.8% |
| 1984 | 31.34 % | -56.6% |
| 1985 | 37.22 % | +18.8% |
| 1986 | 33.31 % | -10.5% |
| 1987 | 31.57 % | -5.2% |
| 1988 | 22.73 % | -28.0% |
| 1989 | 21.92 % | -3.6% |
| 1990 | 16.71 % | -23.8% |
| 1991 | 8.92 % | -46.6% |
| 1992 | 0.3591 % | -96.0% |
| 1993 | 2.98 % | +730.4% |
| 1994 | 5.58 % | +87.2% |
| 1995 | 3 % | -46.2% |
| 1996 | 7.57 % | +151.8% |
| 1997 | 8.76 % | +15.8% |
| 1998 | 12.54 % | +43.0% |
| 1999 | 7.97 % | -36.5% |
| 2000 | 8.34 % | +4.7% |
| 2001 | 13.06 % | +56.6% |
| 2002 | 9.48 % | -27.5% |
| 2003 | 1.33 % | -86.0% |
| 2004 | 7.67 % | +478.8% |
| 2005 | 9.85 % | +28.4% |
| 2006 | 13.02 % | +32.2% |
| 2007 | 14.84 % | +14.0% |
| 2008 | -2.03 % | -113.7% |
| 2009 | 4.88 % | -340.9% |
| 2010 | 4.8 % | -1.7% |
| 2011 | 9.46 % | +97.2% |
| 2012 | 7.97 % | -15.8% |
| 2013 | 16.17 % | +103.0% |
| 2014 | 5.3 % | -67.2% |
| 2015 | 11.98 % | +125.9% |
| 2016 | 11.03 % | -7.9% |
| 2017 | 3.66 % | -66.9% |
| 2018 | 8.92 % | +144.1% |
| 2019 | 7.59 % | -15.0% |
| 2020 | -2.74 % | -136.1% |
| 2021 | 8.41 % | -407.5% |
| 2022 | 17.89 % | +112.7% |
| 2023 | 13.09 % | -26.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 40.82 % | 25.2 % | 54.47 % | 9 |
| 1980s | 42.18 % | 21.92 % | 72.15 % | 10 |
| 1990s | 7.44 % | 0.3591 % | 16.71 % | 10 |
| 2000s | 8.05 % | -2.03 % | 14.84 % | 10 |
| 2010s | 8.69 % | 3.66 % | 16.17 % | 10 |
| 2020s | 9.17 % | -2.74 % | 17.89 % | 4 |
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 national income — annual growth standard local currency in Iceland?
- Gross national income — annual growth standard local currency in Iceland was 13.09 % in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross national income — annual growth standard local currency recorded in Iceland?
- The highest recorded value was 72.15 % in 1983.
- What is the lowest gross national income — annual growth standard local currency recorded in Iceland?
- The lowest recorded value was -2.74 % in 2020.
- How does Iceland rank for gross national income — annual growth standard local currency?
- Iceland ranks 49th out of 202 countries with data for 2023.
- Is gross national income — annual growth standard local currency rising or falling in Iceland?
- Over the last ten years it is down 19.0%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross National Income — Annual growth Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
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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).