Machinery and transport equipment in Iceland
Iceland: Machinery and transport equipment was 15.7% in 2023. ▲ Rising
Machinery and transport equipment in Iceland, 1968–2023
Source: International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO). Measured in % of value added in manufacturing.
Analysis
The most recent figure for machinery and transport equipment in Iceland is 15.7%, measured in 2023. That is the highest value across all 56 years on record.
Compared with earlier readings it is up 50.0% on the previous year and up 71.2% over ten years.
Over the whole period, machinery and transport equipment in Iceland peaked at 15.7% in 2023 and was at its lowest, 1.8%, in 1994.
That places Iceland 53rd out of 149 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 56 years of available data.
Machinery and transport equipment in Iceland, year by year
| Year | % of value added in manufacturing | Change |
|---|---|---|
| 1968 | 9.8% | — |
| 1969 | 9.5% | -3.7% |
| 1970 | 9.3% | -1.8% |
| 1971 | 10.8% | +16.2% |
| 1972 | 10.2% | -5.7% |
| 1973 | 10.0% | -2.0% |
| 1974 | 10.3% | +2.9% |
| 1975 | 9.4% | -8.3% |
| 1976 | 9.0% | -4.8% |
| 1977 | 9.3% | +3.8% |
| 1978 | 9.0% | -2.9% |
| 1979 | 9.3% | +2.9% |
| 1980 | 4.0% | -57.3% |
| 1981 | 3.4% | -14.6% |
| 1982 | 4.0% | +19.1% |
| 1983 | 3.5% | -13.9% |
| 1984 | 2.8% | -19.0% |
| 1985 | 2.9% | +4.3% |
| 1986 | 3.5% | +18.6% |
| 1987 | 3.5% | +0.7% |
| 1988 | 3.5% | +0.8% |
| 1989 | 2.4% | -31.7% |
| 1990 | 2.3% | -4.6% |
| 1991 | 2.4% | +2.8% |
| 1992 | 2.7% | +12.8% |
| 1993 | 2.5% | -7.7% |
| 1994 | 1.8% | -27.6% |
| 1995 | 2.0% | +11.9% |
| 1996 | 2.4% | +18.4% |
| 1997 | 8.9% | +277.5% |
| 1998 | 8.5% | -4.7% |
| 1999 | 8.4% | -0.7% |
| 2000 | 8.0% | -5.7% |
| 2001 | 7.3% | -8.4% |
| 2002 | 7.9% | +8.7% |
| 2003 | 7.7% | -3.5% |
| 2004 | 7.8% | +2.3% |
| 2005 | 8.8% | +12.2% |
| 2006 | 8.8% | +0.0% |
| 2007 | 8.8% | +0.0% |
| 2008 | 8.8% | +0.0% |
| 2009 | 8.8% | +0.0% |
| 2010 | 8.8% | +0.0% |
| 2011 | 9.2% | +4.4% |
| 2012 | 9.2% | +0.0% |
| 2013 | 9.2% | +0.0% |
| 2014 | 9.2% | +0.0% |
| 2015 | 9.6% | +5.1% |
| 2016 | 11.9% | +23.3% |
| 2017 | 11.2% | -5.2% |
| 2018 | 12.7% | +12.6% |
| 2019 | 12.8% | +1.4% |
| 2020 | 12.3% | -4.4% |
| 2021 | 10.3% | -15.9% |
| 2022 | 10.5% | +1.3% |
| 2023 | 15.7% | +50.0% |
Iceland compared with similar countries
- Iceland's 15.7% is below the median for high income countries, which is 20.4%, 77% of the median. (56 countries reporting)
- Iceland's 15.7% is below the median for Europe & Central Asia, which is 18.9%, 83% of the median. (47 countries reporting)
Biggest year-on-year movements
Years where Machinery and transport equipment 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 |
|---|---|---|---|
| 1997 | +277.5% | 2.4% | 8.9% |
| 1980 | -57.3% | 9.3% | 4.0% |
| 2023 | +50.0% | 10.5% | 15.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 9.6% | 9.5% | 9.8% | 2 |
| 1970s | 9.7% | 9.0% | 10.8% | 10 |
| 1980s | 3.4% | 2.4% | 4.0% | 10 |
| 1990s | 4.2% | 1.8% | 8.9% | 10 |
| 2000s | 8.3% | 7.3% | 8.8% | 10 |
| 2010s | 10.4% | 8.8% | 12.8% | 10 |
| 2020s | 12.2% | 10.3% | 15.7% | 4 |
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)
- 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 machinery and transport equipment in Iceland?
- Machinery and transport equipment in Iceland was 15.7% in 2023, according to International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO).
- What is the highest machinery and transport equipment recorded in Iceland?
- The highest recorded value was 15.7% in 2023.
- What is the lowest machinery and transport equipment recorded in Iceland?
- The lowest recorded value was 1.8% in 1994.
- How does Iceland rank for machinery and transport equipment?
- Iceland ranks 53rd out of 149 countries with data for 2023.
- Is machinery and transport equipment rising or falling in Iceland?
- Over the last ten years it is up 71.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO), published as part of Machinery and transport equipment (% of value added in manufacturing). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 56 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Machinery and transport equipment manufacturing includes industries classified in ISIC (Rev. 3) divisions 29-35. 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 as a percentage of value added in manufacturing which is the contribution to the economy by the manufacturing sector (ISIC Rev. 3 major division D).