Gross value added at basic prices (GVA) … constant annual growth rate in Iceland
Iceland: Gross value added at basic prices (GVA) … constant annual growth rate was 1.28 % change on previous year in 2025. ◆ Volatile
Gross value added at basic prices (GVA) (constant LCU), annual growth in Iceland, 1996–2025
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Iceland recorded 1.28 % change on previous year for gross value added at basic prices (gva) (constant lcu), annual growth in 2025.
That represents a change of up 199.6% on the previous year and down 66.1% over ten years.
Over the whole period, gross value added at basic prices (gva) (constant lcu), annual growth in Iceland peaked at 8.86 % change on previous year in 2022 and was at its lowest, -8.32 % change on previous year, in 2009.
That places Iceland 150th out of 195 countries with data for 2025, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross value added at basic prices (GVA) … constant annual growth rate in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1996 | 4.5 % change on previous year | — |
| 1997 | 4.14 % change on previous year | -7.9% |
| 1998 | 7.01 % change on previous year | +69.3% |
| 1999 | 3.9 % change on previous year | -44.4% |
| 2000 | 4.91 % change on previous year | +25.8% |
| 2001 | 3.84 % change on previous year | -21.7% |
| 2002 | 0.5426 % change on previous year | -85.9% |
| 2003 | 2.28 % change on previous year | +320.4% |
| 2004 | 7.62 % change on previous year | +234.1% |
| 2005 | 7.03 % change on previous year | -7.8% |
| 2006 | 5.67 % change on previous year | -19.3% |
| 2007 | 8.74 % change on previous year | +54.1% |
| 2008 | 1.7 % change on previous year | -80.6% |
| 2009 | -8.32 % change on previous year | -589.6% |
| 2010 | -2.22 % change on previous year | -73.3% |
| 2011 | 1.38 % change on previous year | -162.1% |
| 2012 | 1.17 % change on previous year | -15.3% |
| 2013 | 3.6 % change on previous year | +207.7% |
| 2014 | 1.91 % change on previous year | -46.8% |
| 2015 | 3.77 % change on previous year | +96.9% |
| 2016 | 6.22 % change on previous year | +65.0% |
| 2017 | 3.49 % change on previous year | -44.0% |
| 2018 | 4.66 % change on previous year | +33.7% |
| 2019 | 1.15 % change on previous year | -75.4% |
| 2020 | -6.65 % change on previous year | -679.7% |
| 2021 | 5.18 % change on previous year | -178.0% |
| 2022 | 8.86 % change on previous year | +70.9% |
| 2023 | 5.01 % change on previous year | -43.4% |
| 2024 | -1.28 % change on previous year | -125.6% |
| 2025 | 1.28 % change on previous year | -199.6% |
Iceland compared with similar countries
- Iceland's 1.28 % change on previous year is below the median for high income countries, which is 1.99 % change on previous year, 64% of the median. (69 countries reporting)
- Iceland's 1.28 % change on previous year is below the median for Europe & Central Asia, which is 1.73 % change on previous year, 74% of the median. (53 countries reporting)
Biggest year-on-year movements
Years where Gross value added at basic prices (GVA) … constant annual growth rate in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | -679.7% | 1.15 % change on previous year | -6.65 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.89 % change on previous year | 3.9 % change on previous year | 7.01 % change on previous year | 4 |
| 2000s | 3.4 % change on previous year | -8.32 % change on previous year | 8.74 % change on previous year | 10 |
| 2010s | 2.51 % change on previous year | -2.22 % change on previous year | 6.22 % change on previous year | 10 |
| 2020s | 2.07 % change on previous year | -6.65 % change on previous year | 8.86 % change on previous year | 6 |
Countries ranked near Iceland
- 147 Greece 1.34 % change on previous year compare
- 148 Switzerland 1.28 % change on previous year compare
- 149 Greenland 1.28 % change on previous year compare
- 151 Australia 1.25 % change on previous year compare
- 152 Azerbaijan 1.24 % change on previous year compare
- 153 Belarus 1.22 % change on previous year compare
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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is gross value added at basic prices (gva) (constant lcu), annual growth in Iceland?
- Gross value added at basic prices (gva) (constant lcu), annual growth in Iceland was 1.28 % change on previous year in 2025, according to Statizoid (derived).
- What is the highest gross value added at basic prices (gva) (constant lcu), annual growth recorded in Iceland?
- The highest recorded value was 8.86 % change on previous year in 2022.
- What is the lowest gross value added at basic prices (gva) (constant lcu), annual growth recorded in Iceland?
- The lowest recorded value was -8.32 % change on previous year in 2009.
- How does Iceland rank for gross value added at basic prices (gva) (constant lcu), annual growth?
- Iceland ranks 150th out of 195 countries with data for 2025.
- Is gross value added at basic prices (gva) (constant lcu), annual growth rising or falling in Iceland?
- Over the last ten years it is down 66.1%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Gross value added at basic prices (GVA) (constant LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross value added at basic prices (GVA) (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross value added at basic prices (GVA) Country official statistics, National Statistical Offices (NSOs)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross value added at basic prices (GVA) (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.