Share of manufacturing in gross domestic product (GDP) in Iceland
Iceland: Share of manufacturing in gross domestic product (GDP) was 8.5% in 2025. ▼ Falling
Share of manufacturing in gross domestic product (GDP) in Iceland, 1995–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Iceland recorded 8.5% for share of manufacturing in gross domestic product (gdp) in 2025.
That represents a change of down 2.7% on the previous year and down 20.3% over ten years.
Over the whole period, share of manufacturing in gross domestic product (gdp) in Iceland peaked at 14.0% in 1997 and was at its lowest, 7.7%, in 2007.
That places Iceland 117th out of 202 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently falling across the 31 years of available data.
Share of manufacturing in gross domestic product (GDP) in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1995 | 13.3% | — |
| 1996 | 13.2% | -0.8% |
| 1997 | 14.0% | +5.9% |
| 1998 | 13.2% | -5.3% |
| 1999 | 11.7% | -11.8% |
| 2000 | 11.4% | -2.2% |
| 2001 | 13.2% | +15.8% |
| 2002 | 11.4% | -13.3% |
| 2003 | 10.8% | -5.4% |
| 2004 | 10.3% | -4.8% |
| 2005 | 8.5% | -17.4% |
| 2006 | 9.0% | +5.1% |
| 2007 | 7.7% | -13.9% |
| 2008 | 10.8% | +39.7% |
| 2009 | 10.8% | +0.2% |
| 2010 | 12.9% | +19.5% |
| 2011 | 13.0% | +1.0% |
| 2012 | 11.6% | -10.9% |
| 2013 | 11.1% | -4.2% |
| 2014 | 11.4% | +2.8% |
| 2015 | 10.7% | -6.4% |
| 2016 | 9.5% | -11.5% |
| 2017 | 8.8% | -7.5% |
| 2018 | 9.0% | +2.9% |
| 2019 | 8.4% | -7.0% |
| 2020 | 8.8% | +5.5% |
| 2021 | 9.9% | +12.0% |
| 2022 | 9.9% | -0.5% |
| 2023 | 8.5% | -14.1% |
| 2024 | 8.8% | +3.6% |
| 2025 | 8.5% | -2.7% |
Iceland compared with similar countries
- Iceland's 8.5% is below the median for high income countries, which is 9.5%, 90% of the median. (75 countries reporting)
- Iceland's 8.5% is below the median for Europe & Central Asia, which is 12.0%, 71% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13.1% | 11.7% | 14.0% | 5 |
| 2000s | 10.4% | 7.7% | 13.2% | 10 |
| 2010s | 10.6% | 8.4% | 13.0% | 10 |
| 2020s | 9.1% | 8.5% | 9.9% | 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)
- 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 share of manufacturing in gross domestic product (gdp) in Iceland?
- Share of manufacturing in gross domestic product (gdp) in Iceland was 8.5% in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest share of manufacturing in gross domestic product (gdp) recorded in Iceland?
- The highest recorded value was 14.0% in 1997.
- What is the lowest share of manufacturing in gross domestic product (gdp) recorded in Iceland?
- The lowest recorded value was 7.7% in 2007.
- How does Iceland rank for share of manufacturing in gross domestic product (gdp)?
- Iceland ranks 117th out of 202 countries with data for 2025.
- Is share of manufacturing in gross domestic product (gdp) rising or falling in Iceland?
- Over the last ten years it is down 20.3%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of Share of manufacturing in gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Manufacturing comprises units engaged in the physical, or chemical transformation of materials, substances, or components into new products.