Productivity vs annual hours worked in Iceland
Iceland: Productivity vs annual hours worked was 1,452 in 2023. ▼ Falling
Latest (2023)
1,452
Change on year
down 0.5%
World rank
122nd
of 129 countries
All-time high
2,139
in 1964
All-time low
1,452
in 2023
Years of data
60
1964–2023
Productivity vs annual hours worked in Iceland, 1964–2023
Source: Our World in Data.
Analysis
Iceland recorded 1,452 for productivity vs annual hours worked in 2023. That is the lowest value across all 60 years on record.
Compared with earlier readings it is down 0.5% on the previous year and down 4.7% over ten years.
Over the whole period, productivity vs annual hours worked in Iceland peaked at 2,139 in 1964 and was at its lowest, 1,452, in 2023.
Iceland ranks 122nd of 129 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 60 years of available data.
Productivity vs annual hours worked in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1964 | 2,139 | — |
| 1965 | 2,116 | -1.1% |
| 1966 | 2,104 | -0.6% |
| 1967 | 2,068 | -1.7% |
| 1968 | 2,021 | -2.3% |
| 1969 | 1,992 | -1.4% |
| 1970 | 1,975 | -0.9% |
| 1971 | 1,937 | -1.9% |
| 1972 | 1,904 | -1.7% |
| 1973 | 1,886 | -0.9% |
| 1974 | 1,861 | -1.3% |
| 1975 | 1,837 | -1.3% |
| 1976 | 1,809 | -1.5% |
| 1977 | 1,767 | -2.3% |
| 1978 | 1,729 | -2.2% |
| 1979 | 1,716 | -0.7% |
| 1980 | 1,706 | -0.6% |
| 1981 | 1,699 | -0.4% |
| 1982 | 1,702 | +0.2% |
| 1983 | 1,702 | +0.0% |
| 1984 | 1,700 | -0.1% |
| 1985 | 1,699 | -0.1% |
| 1986 | 1,692 | -0.4% |
| 1987 | 1,690 | -0.1% |
| 1988 | 1,698 | +0.4% |
| 1989 | 1,693 | -0.3% |
| 1990 | 1,683 | -0.6% |
| 1991 | 1,687 | +0.2% |
| 1992 | 1,687 | +0.0% |
| 1993 | 1,702 | +0.9% |
| 1994 | 1,673 | -1.7% |
| 1995 | 1,660 | -0.8% |
| 1996 | 1,677 | +1.1% |
| 1997 | 1,703 | +1.5% |
| 1998 | 1,683 | -1.1% |
| 1999 | 1,663 | -1.2% |
| 2000 | 1,714 | +3.1% |
| 2001 | 1,725 | +0.6% |
| 2002 | 1,691 | -2.0% |
| 2003 | 1,657 | -2.0% |
| 2004 | 1,664 | +0.4% |
| 2005 | 1,655 | -0.5% |
| 2006 | 1,645 | -0.6% |
| 2007 | 1,624 | -1.3% |
| 2008 | 1,625 | +0.1% |
| 2009 | 1,536 | -5.5% |
| 2010 | 1,528 | -0.6% |
| 2011 | 1,538 | +0.6% |
| 2012 | 1,523 | -1.0% |
| 2013 | 1,524 | +0.1% |
| 2014 | 1,513 | -0.7% |
| 2015 | 1,511 | -0.1% |
| 2016 | 1,520 | +0.6% |
| 2017 | 1,507 | -0.8% |
| 2018 | 1,496 | -0.7% |
| 2019 | 1,480 | -1.1% |
| 2020 | 1,464 | -1.1% |
| 2021 | 1,460 | -0.3% |
| 2022 | 1,460 | -0.0% |
| 2023 | 1,452 | -0.5% |
Iceland compared with similar countries
- Iceland's 1,452 is below the median for high income countries, which is 1,685, 86% of the median. (50 countries reporting)
- Iceland's 1,452 is below the median for Europe & Central Asia, which is 1,741, 83% of the median. (46 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2,073 | 1,992 | 2,139 | 6 |
| 1970s | 1,842 | 1,716 | 1,975 | 10 |
| 1980s | 1,698 | 1,690 | 1,706 | 10 |
| 1990s | 1,682 | 1,660 | 1,703 | 10 |
| 2000s | 1,654 | 1,536 | 1,725 | 10 |
| 2010s | 1,514 | 1,480 | 1,538 | 10 |
| 2020s | 1,459 | 1,452 | 1,464 | 4 |
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 productivity vs annual hours worked in Iceland?
- Productivity vs annual hours worked in Iceland was 1,452 in 2023, according to Our World in Data.
- What is the highest productivity vs annual hours worked recorded in Iceland?
- The highest recorded value was 2,139 in 1964.
- What is the lowest productivity vs annual hours worked recorded in Iceland?
- The lowest recorded value was 1,452 in 2023.
- How does Iceland rank for productivity vs annual hours worked?
- Iceland ranks 122nd out of 129 countries with data for 2023.
- Is productivity vs annual hours worked rising or falling in Iceland?
- Over the last ten years it is down 4.7%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Our World in Data, published as part of Productivity vs annual hours worked. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (Our World in Data).