Services, value added in Iceland
Iceland: Services, value added was 15.35 billion constant 2015 US$ in 2025. ▲ Rising
Services, value added in Iceland, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
Iceland recorded 15.35 billion constant 2015 US$ for services, value added in 2025. That is the highest value across all 31 years on record.
That represents a change of up 2.2% on the previous year and up 34.4% over ten years.
Over the whole period, services, value added in Iceland peaked at 15.35 billion constant 2015 US$ in 2025 and was at its lowest, 5.61 billion constant 2015 US$, in 1995.
Iceland ranks 107th of 196 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Services, value added in Iceland, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1995 | 5.61 billion constant 2015 US$ | — |
| 1996 | 5.90 billion constant 2015 US$ | +5.1% |
| 1997 | 6.23 billion constant 2015 US$ | +5.6% |
| 1998 | 6.85 billion constant 2015 US$ | +10.0% |
| 1999 | 7.21 billion constant 2015 US$ | +5.2% |
| 2000 | 7.55 billion constant 2015 US$ | +4.7% |
| 2001 | 7.87 billion constant 2015 US$ | +4.3% |
| 2002 | 7.98 billion constant 2015 US$ | +1.3% |
| 2003 | 8.24 billion constant 2015 US$ | +3.2% |
| 2004 | 8.74 billion constant 2015 US$ | +6.2% |
| 2005 | 9.29 billion constant 2015 US$ | +6.2% |
| 2006 | 9.73 billion constant 2015 US$ | +4.8% |
| 2007 | 10.76 billion constant 2015 US$ | +10.6% |
| 2008 | 11.12 billion constant 2015 US$ | +3.3% |
| 2009 | 10.56 billion constant 2015 US$ | -5.0% |
| 2010 | 10.36 billion constant 2015 US$ | -2.0% |
| 2011 | 10.51 billion constant 2015 US$ | +1.5% |
| 2012 | 10.55 billion constant 2015 US$ | +0.4% |
| 2013 | 10.91 billion constant 2015 US$ | +3.4% |
| 2014 | 11.04 billion constant 2015 US$ | +1.2% |
| 2015 | 11.42 billion constant 2015 US$ | +3.5% |
| 2016 | 12.16 billion constant 2015 US$ | +6.4% |
| 2017 | 12.65 billion constant 2015 US$ | +4.1% |
| 2018 | 13.14 billion constant 2015 US$ | +3.9% |
| 2019 | 13.50 billion constant 2015 US$ | +2.7% |
| 2020 | 12.39 billion constant 2015 US$ | -8.2% |
| 2021 | 13.11 billion constant 2015 US$ | +5.8% |
| 2022 | 14.39 billion constant 2015 US$ | +9.8% |
| 2023 | 15.22 billion constant 2015 US$ | +5.8% |
| 2024 | 15.02 billion constant 2015 US$ | -1.3% |
| 2025 | 15.35 billion constant 2015 US$ | +2.2% |
Iceland compared with similar countries
- Iceland's 15.35 billion constant 2015 US$ is below the median for high income countries, which is 67.86 billion constant 2015 US$, 23% of the median. (69 countries reporting)
- Iceland's 15.35 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 47.31 billion constant 2015 US$, 32% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.36 billion constant 2015 US$ | 5.61 billion constant 2015 US$ | 7.21 billion constant 2015 US$ | 5 |
| 2000s | 9.18 billion constant 2015 US$ | 7.55 billion constant 2015 US$ | 11.12 billion constant 2015 US$ | 10 |
| 2010s | 11.62 billion constant 2015 US$ | 10.36 billion constant 2015 US$ | 13.50 billion constant 2015 US$ | 10 |
| 2020s | 14.24 billion constant 2015 US$ | 12.39 billion constant 2015 US$ | 15.35 billion constant 2015 US$ | 6 |
Countries ranked near Iceland
- 104 El Salvador 17.77 billion constant 2015 US$ compare
- 105 Malta 16.32 billion constant 2015 US$ compare
- 106 Yemen 15.38 billion constant 2015 US$ compare
- 108 Cambodia 14.44 billion constant 2015 US$ compare
- 109 Senegal 14.38 billion constant 2015 US$ compare
- 110 Trinidad and Tobago 14.02 billion constant 2015 US$ compare
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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is services, value added in Iceland?
- Services, value added in Iceland was 15.35 billion constant 2015 US$ 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 15.35 billion constant 2015 US$ in 2025.
- What is the lowest services, value added recorded in Iceland?
- The lowest recorded value was 5.61 billion constant 2015 US$ in 1995.
- How does Iceland rank for services, value added?
- Iceland ranks 107th out of 196 countries with data for 2025.
- Is services, value added rising or falling in Iceland?
- Over the last ten years it is up 34.4%. The long-run trend across the full record is rising.
- 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 (constant 2015 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 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 defense, 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.