Services, value added in Iceland
Iceland: Services, value added was 2.2% in 2025. ◆ Volatile
Services, value added in Iceland, 1996–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
The most recent figure for services, value added in Iceland is 2.2%, measured in 2025.
That represents a change of up 266.2% on the previous year and down 38.4% over ten years.
Over the whole period, services, value added in Iceland peaked at 10.6% in 2007 and was at its lowest, -8.2%, in 2020.
Iceland ranks 134th of 198 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Services, value added in Iceland, year by year
| Year | annual % growth | Change |
|---|---|---|
| 1996 | 5.1% | — |
| 1997 | 5.6% | +10.2% |
| 1998 | 10.0% | +78.9% |
| 1999 | 5.2% | -48.2% |
| 2000 | 4.7% | -9.2% |
| 2001 | 4.3% | -9.3% |
| 2002 | 1.3% | -69.0% |
| 2003 | 3.2% | +144.6% |
| 2004 | 6.2% | +90.1% |
| 2005 | 6.2% | +0.7% |
| 2006 | 4.8% | -23.4% |
| 2007 | 10.6% | +124.0% |
| 2008 | 3.3% | -68.8% |
| 2009 | -5.0% | -250.4% |
| 2010 | -2.0% | -60.8% |
| 2011 | 1.5% | -176.5% |
| 2012 | 0.4% | -76.3% |
| 2013 | 3.4% | +863.1% |
| 2014 | 1.2% | -66.1% |
| 2015 | 3.5% | +203.1% |
| 2016 | 6.4% | +83.9% |
| 2017 | 4.1% | -37.1% |
| 2018 | 3.9% | -4.4% |
| 2019 | 2.7% | -29.6% |
| 2020 | -8.2% | -401.8% |
| 2021 | 5.8% | -170.3% |
| 2022 | 9.8% | +68.7% |
| 2023 | 5.8% | -40.6% |
| 2024 | -1.3% | -122.4% |
| 2025 | 2.2% | -266.2% |
Iceland compared with similar countries
- Iceland's 2.2% is above the median for high income countries, which is 2.2%, 1.0× the median. (69 countries reporting)
- Iceland's 2.2% is above the median for Europe & Central Asia, which is 2.2%, 1.0× the median. (53 countries reporting)
Biggest year-on-year movements
Years where Services, value added 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 |
|---|---|---|---|
| 2013 | +863.1% | 0.4% | 3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.5% | 5.1% | 10.0% | 4 |
| 2000s | 4.0% | -5.0% | 10.6% | 10 |
| 2010s | 2.5% | -2.0% | 6.4% | 10 |
| 2020s | 2.3% | -8.2% | 9.8% | 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 services, value added in Iceland?
- Services, value added in Iceland was 2.2% in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Iceland?
- The highest recorded value was 10.6% in 2007.
- What is the lowest services, value added recorded in Iceland?
- The lowest recorded value was -8.2% in 2020.
- How does Iceland rank for services, value added?
- Iceland ranks 134th out of 198 countries with data for 2025.
- Is services, value added rising or falling in Iceland?
- Over the last ten years it is down 38.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (annual % growth). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. 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 denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.