Real gdp growth in Iceland
Iceland: Real gdp growth was -1.28 in 2024. ◆ Volatile
Latest (2024)
-1.28
Change on year
down 125.5%
World rank
186th
of 196 countries
All-time high
8.86
in 2022
All-time low
-8.32
in 2009
Years of data
45
1980–2024
Real gdp growth in Iceland, 1980–2024
Source: Our World in Data.
Analysis
The most recent figure for real gdp growth in Iceland is -1.28, measured in 2024.
The figure is down 125.5% on the previous year and down 167.0% over ten years.
Over the whole period, real gdp growth in Iceland peaked at 8.86 in 2022 and was at its lowest, -8.32, in 2009.
That places Iceland 186th out of 196 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 3.24 | -2.15 | 8.55 | 10 |
| 1990s | 2.22 | -3.37 | 7.01 | 10 |
| 2000s | 3.4 | -8.32 | 8.74 | 10 |
| 2010s | 2.51 | -2.22 | 6.22 | 10 |
| 2020s | 2.23 | -6.65 | 8.86 | 5 |
Countries ranked near Iceland
More economy & growth data for Iceland
- External balance on goods and services as a percent of gdp -2.26 (2025)
- Inflation of consumer prices 4.09 (2025)
- Gdp per capita worldbank constant usd 58,910 (2025)
- Manufacturing value added to gdp 8.53 (2025)
- Gdp worldbank constant usd 23.12 billion (2025)
- Gdp per capita in international and market dollars 58,910 (2025)
- DEC alternative conversion factor 128.44 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -52.84 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) -383.05 million current US$ (2024)
- Taxes less subsidies on products 498.69 billion current LCU (2025)
Frequently asked questions
- What is real gdp growth in Iceland?
- Real gdp growth in Iceland was -1.28 in 2024, according to Our World in Data.
- What is the highest real gdp growth recorded in Iceland?
- The highest recorded value was 8.86 in 2022.
- What is the lowest real gdp growth recorded in Iceland?
- The lowest recorded value was -8.32 in 2009.
- How does Iceland rank for real gdp growth?
- Iceland ranks 186th out of 196 countries with data for 2024.
- Is real gdp growth rising or falling in Iceland?
- Over the last ten years it is down 167.0%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Our World in Data, published as part of Real gdp growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (Our World in Data).