Gross savings in Iceland
Iceland: Gross savings was 23.0% in 2025. ▬ Flat
Gross savings in Iceland, 1976–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2025, gross savings in Iceland stood at 23.0%.
That represents a change of down 0.1% on the previous year and down 9.8% over ten years.
Over the whole period, gross savings in Iceland peaked at 29.7% in 2016 and was at its lowest, 5.2%, in 2008.
That places Iceland 83rd out of 177 countries with data for 2025, putting it in the middle of the range.
Gross savings in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1976 | 27.9% | — |
| 1977 | 28.4% | +1.7% |
| 1979 | 25.1% | -11.7% |
| 1980 | 25.7% | +2.5% |
| 1981 | 23.3% | -9.5% |
| 1982 | 20.7% | -11.0% |
| 1983 | 19.9% | -4.1% |
| 1984 | 19.3% | -3.0% |
| 1985 | 17.7% | -8.2% |
| 1986 | 19.7% | +11.6% |
| 1987 | 18.1% | -8.2% |
| 1988 | 18.0% | -0.9% |
| 1989 | 17.9% | -0.5% |
| 1990 | 17.6% | -1.7% |
| 1991 | 16.8% | -4.7% |
| 1992 | 16.4% | -1.9% |
| 1993 | 18.3% | +11.4% |
| 1994 | 18.6% | +1.7% |
| 1995 | 17.8% | -4.3% |
| 1996 | 17.8% | -0.5% |
| 1997 | 19.1% | +7.7% |
| 1998 | 18.4% | -3.6% |
| 1999 | 16.3% | -11.5% |
| 2000 | 14.6% | -10.3% |
| 2001 | 18.5% | +26.7% |
| 2002 | 20.8% | +12.2% |
| 2003 | 16.4% | -21.3% |
| 2004 | 14.7% | -10.1% |
| 2005 | 13.6% | -7.7% |
| 2006 | 13.3% | -1.9% |
| 2007 | 15.9% | +19.5% |
| 2008 | 5.2% | -67.6% |
| 2009 | 6.0% | +16.5% |
| 2010 | 8.0% | +32.9% |
| 2011 | 10.8% | +35.4% |
| 2012 | 13.0% | +20.0% |
| 2013 | 21.8% | +68.2% |
| 2014 | 22.1% | +1.1% |
| 2015 | 25.5% | +15.5% |
| 2016 | 29.7% | +16.7% |
| 2017 | 26.5% | -11.0% |
| 2018 | 26.6% | +0.6% |
| 2019 | 27.6% | +3.5% |
| 2020 | 22.9% | -16.9% |
| 2021 | 20.2% | -11.6% |
| 2022 | 22.5% | +11.3% |
| 2023 | 24.2% | +7.4% |
| 2024 | 23.0% | -5.0% |
| 2025 | 23.0% | -0.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 27.1% | 25.1% | 28.4% | 3 |
| 1980s | 20.0% | 17.7% | 25.7% | 10 |
| 1990s | 17.7% | 16.3% | 19.1% | 10 |
| 2000s | 13.9% | 5.2% | 20.8% | 10 |
| 2010s | 21.2% | 8.0% | 29.7% | 10 |
| 2020s | 22.6% | 20.2% | 24.2% | 6 |
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 savings in Iceland?
- Gross savings in Iceland was 23.0% in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Iceland?
- The highest recorded value was 29.7% in 2016.
- What is the lowest gross savings recorded in Iceland?
- The lowest recorded value was 5.2% in 2008.
- How does Iceland rank for gross savings?
- Iceland ranks 83rd out of 177 countries with data for 2025.
- Is gross savings rising or falling in Iceland?
- Over the last ten years it is down 9.8%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. 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.