Industry (including construction), value added in Iceland
Iceland: Industry (including construction), value added was 4.38 billion constant 2015 US$ in 2025. ▲ Rising
Industry (including construction), value added in Iceland, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
Iceland recorded 4.38 billion constant 2015 US$ for industry (including construction), value added in 2025.
The figure is down 1.2% on the previous year and up 24.2% over ten years.
Over the whole period, industry (including construction), value added in Iceland peaked at 4.43 billion constant 2015 US$ in 2024 and was at its lowest, 2.12 billion constant 2015 US$, in 1995.
Iceland ranks 122nd of 196 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Industry (including construction), value added in Iceland, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1995 | 2.12 billion constant 2015 US$ | — |
| 1996 | 2.19 billion constant 2015 US$ | +3.7% |
| 1997 | 2.26 billion constant 2015 US$ | +3.2% |
| 1998 | 2.32 billion constant 2015 US$ | +2.7% |
| 1999 | 2.38 billion constant 2015 US$ | +2.4% |
| 2000 | 2.56 billion constant 2015 US$ | +7.7% |
| 2001 | 2.65 billion constant 2015 US$ | +3.2% |
| 2002 | 2.58 billion constant 2015 US$ | -2.4% |
| 2003 | 2.61 billion constant 2015 US$ | +1.0% |
| 2004 | 2.95 billion constant 2015 US$ | +13.1% |
| 2005 | 3.28 billion constant 2015 US$ | +11.0% |
| 2006 | 3.61 billion constant 2015 US$ | +10.2% |
| 2007 | 3.81 billion constant 2015 US$ | +5.6% |
| 2008 | 3.71 billion constant 2015 US$ | -2.6% |
| 2009 | 2.98 billion constant 2015 US$ | -19.9% |
| 2010 | 2.94 billion constant 2015 US$ | -1.3% |
| 2011 | 2.98 billion constant 2015 US$ | +1.5% |
| 2012 | 3.05 billion constant 2015 US$ | +2.4% |
| 2013 | 3.19 billion constant 2015 US$ | +4.7% |
| 2014 | 3.39 billion constant 2015 US$ | +6.1% |
| 2015 | 3.53 billion constant 2015 US$ | +4.1% |
| 2016 | 3.79 billion constant 2015 US$ | +7.5% |
| 2017 | 3.87 billion constant 2015 US$ | +2.1% |
| 2018 | 4.09 billion constant 2015 US$ | +5.7% |
| 2019 | 3.91 billion constant 2015 US$ | -4.4% |
| 2020 | 3.80 billion constant 2015 US$ | -2.8% |
| 2021 | 3.95 billion constant 2015 US$ | +3.9% |
| 2022 | 4.23 billion constant 2015 US$ | +7.0% |
| 2023 | 4.35 billion constant 2015 US$ | +2.9% |
| 2024 | 4.43 billion constant 2015 US$ | +1.9% |
| 2025 | 4.38 billion constant 2015 US$ | -1.2% |
Iceland compared with similar countries
- Iceland's 4.38 billion constant 2015 US$ is below the median for high income countries, which is 27.07 billion constant 2015 US$, 16% of the median. (69 countries reporting)
- Iceland's 4.38 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 21.78 billion constant 2015 US$, 20% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.25 billion constant 2015 US$ | 2.12 billion constant 2015 US$ | 2.38 billion constant 2015 US$ | 5 |
| 2000s | 3.07 billion constant 2015 US$ | 2.56 billion constant 2015 US$ | 3.81 billion constant 2015 US$ | 10 |
| 2010s | 3.47 billion constant 2015 US$ | 2.94 billion constant 2015 US$ | 4.09 billion constant 2015 US$ | 10 |
| 2020s | 4.19 billion constant 2015 US$ | 3.80 billion constant 2015 US$ | 4.43 billion constant 2015 US$ | 6 |
Countries ranked near Iceland
- 119 Georgia 4.61 billion constant 2015 US$ compare
- 120 Nicaragua 4.57 billion constant 2015 US$ compare
- 121 Armenia 4.42 billion constant 2015 US$ compare
- 123 Mali 4.35 billion constant 2015 US$ compare
- 124 Afghanistan 4.34 billion constant 2015 US$ compare
- 125 Bosnia and Herzegovina 4.28 billion constant 2015 US$ 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is industry (including construction), value added in Iceland?
- Industry (including construction), value added in Iceland was 4.38 billion constant 2015 US$ in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest industry (including construction), value added recorded in Iceland?
- The highest recorded value was 4.43 billion constant 2015 US$ in 2024.
- What is the lowest industry (including construction), value added recorded in Iceland?
- The lowest recorded value was 2.12 billion constant 2015 US$ in 1995.
- How does Iceland rank for industry (including construction), value added?
- Iceland ranks 122nd out of 196 countries with data for 2025.
- Is industry (including construction), value added rising or falling in Iceland?
- Over the last ten years it is up 24.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Industry (including construction), value added (constant 2015 US$). Statizoid updates them automatically from the source API.
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About this data
Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.