Services, value added in Iceland
Iceland: Services, value added was 2.42 trillion constant LCU in 2025. ▲ Rising
Services, value added in Iceland, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
The most recent figure for services, value added in Iceland is 2.42 trillion constant LCU, measured in 2025. That is the highest value across all 31 years on record.
The figure is 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 2.42 trillion constant LCU in 2025 and was at its lowest, 883.44 billion constant LCU, in 1995.
Iceland ranks 59th of 199 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 LCU | Change |
|---|---|---|
| 1995 | 883.44 billion constant LCU | — |
| 1996 | 928.43 billion constant LCU | +5.1% |
| 1997 | 980.50 billion constant LCU | +5.6% |
| 1998 | 1.08 trillion constant LCU | +10.0% |
| 1999 | 1.13 trillion constant LCU | +5.2% |
| 2000 | 1.19 trillion constant LCU | +4.7% |
| 2001 | 1.24 trillion constant LCU | +4.3% |
| 2002 | 1.26 trillion constant LCU | +1.3% |
| 2003 | 1.30 trillion constant LCU | +3.2% |
| 2004 | 1.38 trillion constant LCU | +6.2% |
| 2005 | 1.46 trillion constant LCU | +6.2% |
| 2006 | 1.53 trillion constant LCU | +4.8% |
| 2007 | 1.69 trillion constant LCU | +10.6% |
| 2008 | 1.75 trillion constant LCU | +3.3% |
| 2009 | 1.66 trillion constant LCU | -5.0% |
| 2010 | 1.63 trillion constant LCU | -2.0% |
| 2011 | 1.65 trillion constant LCU | +1.5% |
| 2012 | 1.66 trillion constant LCU | +0.4% |
| 2013 | 1.72 trillion constant LCU | +3.4% |
| 2014 | 1.74 trillion constant LCU | +1.2% |
| 2015 | 1.80 trillion constant LCU | +3.5% |
| 2016 | 1.91 trillion constant LCU | +6.4% |
| 2017 | 1.99 trillion constant LCU | +4.1% |
| 2018 | 2.07 trillion constant LCU | +3.9% |
| 2019 | 2.13 trillion constant LCU | +2.7% |
| 2020 | 1.95 trillion constant LCU | -8.2% |
| 2021 | 2.06 trillion constant LCU | +5.8% |
| 2022 | 2.26 trillion constant LCU | +9.8% |
| 2023 | 2.40 trillion constant LCU | +5.8% |
| 2024 | 2.36 trillion constant LCU | -1.3% |
| 2025 | 2.42 trillion constant LCU | +2.2% |
Iceland compared with similar countries
- Iceland's 2.42 trillion constant LCU is above the median for high income countries, which is 203.18 billion constant LCU, 11.9× the median. (70 countries reporting)
- Iceland's 2.42 trillion constant LCU is above the median for Europe & Central Asia, which is 280.65 billion constant LCU, 8.6× the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.00 trillion constant LCU | 883.44 billion constant LCU | 1.13 trillion constant LCU | 5 |
| 2000s | 1.45 trillion constant LCU | 1.19 trillion constant LCU | 1.75 trillion constant LCU | 10 |
| 2010s | 1.83 trillion constant LCU | 1.63 trillion constant LCU | 2.13 trillion constant LCU | 10 |
| 2020s | 2.24 trillion constant LCU | 1.95 trillion constant LCU | 2.42 trillion constant LCU | 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 2.42 trillion constant LCU 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 2.42 trillion constant LCU in 2025.
- What is the lowest services, value added recorded in Iceland?
- The lowest recorded value was 883.44 billion constant LCU in 1995.
- How does Iceland rank for services, value added?
- Iceland ranks 59th out of 199 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 LCU). 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 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.