Gross public sector debt as a share of gross domestic product in Iceland
Iceland: Gross public sector debt as a share of gross domestic product was 52.9% in 2024. ▼ Falling
Gross public sector debt as a share of gross domestic product in Iceland, 2009–2024
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
In 2024, gross public sector debt as a share of gross domestic product in Iceland stood at 52.9%. That is the lowest value across all 16 years on record.
The figure is down 1.9% on the previous year and down 51.3% over ten years.
Over the whole period, gross public sector debt as a share of gross domestic product in Iceland peaked at 129.6% in 2011 and was at its lowest, 52.9%, in 2024.
That places Iceland 27th out of 49 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 16 years of available data.
Gross public sector debt as a share of gross domestic product in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2009 | 121.2% | — |
| 2010 | 121.6% | +0.3% |
| 2011 | 129.6% | +6.6% |
| 2012 | 125.9% | -2.9% |
| 2013 | 115.3% | -8.4% |
| 2014 | 108.7% | -5.7% |
| 2015 | 90.7% | -16.6% |
| 2016 | 75.7% | -16.5% |
| 2017 | 64.0% | -15.4% |
| 2018 | 56.4% | -12.0% |
| 2019 | 59.4% | +5.3% |
| 2020 | 65.9% | +11.0% |
| 2021 | 63.9% | -2.9% |
| 2022 | 60.5% | -5.4% |
| 2023 | 53.9% | -10.9% |
| 2024 | 52.9% | -1.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 121.2% | 121.2% | 121.2% | 1 |
| 2010s | 94.7% | 56.4% | 129.6% | 10 |
| 2020s | 59.4% | 52.9% | 65.9% | 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)
- Manufacturing, value added (constant LCU), per capita 729,781 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 16.18 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.2006 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 19,720 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 8.17 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 25.76 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 2.53 million current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) -1.23 % change on previous year (2025)
Frequently asked questions
- What is gross public sector debt as a share of gross domestic product in Iceland?
- Gross public sector debt as a share of gross domestic product in Iceland was 52.9% in 2024, according to World Bank – processed by Our World in Data.
- What is the highest gross public sector debt as a share of gross domestic product recorded in Iceland?
- The highest recorded value was 129.6% in 2011.
- What is the lowest gross public sector debt as a share of gross domestic product recorded in Iceland?
- The lowest recorded value was 52.9% in 2024.
- How does Iceland rank for gross public sector debt as a share of gross domestic product?
- Iceland ranks 27th out of 49 countries with data for 2024.
- Is gross public sector debt as a share of gross domestic product rising or falling in Iceland?
- Over the last ten years it is down 51.3%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Gross public sector debt as a share of gross domestic product. Statizoid updates them automatically from the source API.
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About this data
Gross public sector debt, Central Government, as a proportion of GDP (%).