Industry (including construction), value added (constant LCU) in Iceland
Iceland: Industry (including construction), value added (constant LCU) was 688.53 billion constant LCU in 2025. ▲ Rising
Industry (including construction), value added in Iceland, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
Iceland recorded 688.53 billion constant LCU 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 697.07 billion constant LCU in 2024 and was at its lowest, 332.52 billion constant LCU, in 1995.
Iceland ranks 66th of 200 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 (constant LCU) in Iceland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1995 | 332.52 billion constant LCU | — |
| 1996 | 344.76 billion constant LCU | +3.7% |
| 1997 | 355.65 billion constant LCU | +3.2% |
| 1998 | 365.31 billion constant LCU | +2.7% |
| 1999 | 374.10 billion constant LCU | +2.4% |
| 2000 | 403.08 billion constant LCU | +7.7% |
| 2001 | 416.14 billion constant LCU | +3.2% |
| 2002 | 406.00 billion constant LCU | -2.4% |
| 2003 | 410.06 billion constant LCU | +1.0% |
| 2004 | 463.77 billion constant LCU | +13.1% |
| 2005 | 514.93 billion constant LCU | +11.0% |
| 2006 | 567.60 billion constant LCU | +10.2% |
| 2007 | 599.32 billion constant LCU | +5.6% |
| 2008 | 583.86 billion constant LCU | -2.6% |
| 2009 | 467.79 billion constant LCU | -19.9% |
| 2010 | 461.49 billion constant LCU | -1.3% |
| 2011 | 468.50 billion constant LCU | +1.5% |
| 2012 | 479.53 billion constant LCU | +2.4% |
| 2013 | 502.12 billion constant LCU | +4.7% |
| 2014 | 532.97 billion constant LCU | +6.1% |
| 2015 | 554.56 billion constant LCU | +4.1% |
| 2016 | 596.00 billion constant LCU | +7.5% |
| 2017 | 608.51 billion constant LCU | +2.1% |
| 2018 | 643.43 billion constant LCU | +5.7% |
| 2019 | 614.87 billion constant LCU | -4.4% |
| 2020 | 597.94 billion constant LCU | -2.8% |
| 2021 | 621.49 billion constant LCU | +3.9% |
| 2022 | 664.86 billion constant LCU | +7.0% |
| 2023 | 684.16 billion constant LCU | +2.9% |
| 2024 | 697.07 billion constant LCU | +1.9% |
| 2025 | 688.53 billion constant LCU | -1.2% |
Iceland compared with similar countries
- Iceland's 688.53 billion constant LCU is above the median for high income countries, which is 57.24 billion constant LCU, 12.0× the median. (70 countries reporting)
- Iceland's 688.53 billion constant LCU is above the median for Europe & Central Asia, which is 99.16 billion constant LCU, 6.9× the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 354.47 billion constant LCU | 332.52 billion constant LCU | 374.10 billion constant LCU | 5 |
| 2000s | 483.26 billion constant LCU | 403.08 billion constant LCU | 599.32 billion constant LCU | 10 |
| 2010s | 546.20 billion constant LCU | 461.49 billion constant LCU | 643.43 billion constant LCU | 10 |
| 2020s | 659.01 billion constant LCU | 597.94 billion constant LCU | 697.07 billion constant LCU | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- 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)
Frequently asked questions
- What is industry (including construction), value added in Iceland?
- Industry (including construction), value added in Iceland was 688.53 billion constant LCU 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 697.07 billion constant LCU in 2024.
- What is the lowest industry (including construction), value added recorded in Iceland?
- The lowest recorded value was 332.52 billion constant LCU in 1995.
- How does Iceland rank for industry (including construction), value added?
- Iceland ranks 66th out of 200 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 LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 varies by country. This series is expressed in local currency units.