Services, value added (current LCU), annual growth rate in Iceland
Iceland: Services, value added (current LCU), annual growth rate was 9.72 % change on previous year in 2025. ◆ Volatile
Services, value added (current LCU), annual growth rate in Iceland, 1996–2025
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Iceland recorded 9.72 % change on previous year for services, value added (current lcu), annual growth rate in 2025.
That represents a change of up 122.8% on the previous year and down 19.0% over ten years.
Over the whole period, services, value added (current lcu), annual growth rate in Iceland peaked at 20.46 % change on previous year in 2007 and was at its lowest, -4.04 % change on previous year, in 2020.
Iceland ranks 61st of 204 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 (current LCU), annual growth rate in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1996 | 8.26 % change on previous year | — |
| 1997 | 4.5 % change on previous year | -45.5% |
| 1998 | 14.94 % change on previous year | +231.9% |
| 1999 | 9.71 % change on previous year | -35.0% |
| 2000 | 11.6 % change on previous year | +19.4% |
| 2001 | 12.56 % change on previous year | +8.3% |
| 2002 | 10.49 % change on previous year | -16.5% |
| 2003 | 4.83 % change on previous year | -53.9% |
| 2004 | 10.06 % change on previous year | +108.3% |
| 2005 | 10.56 % change on previous year | +4.9% |
| 2006 | 12.03 % change on previous year | +14.0% |
| 2007 | 20.46 % change on previous year | +70.1% |
| 2008 | 12.13 % change on previous year | -40.7% |
| 2009 | 8.12 % change on previous year | -33.1% |
| 2010 | -1.19 % change on previous year | -114.7% |
| 2011 | 3.39 % change on previous year | -384.6% |
| 2012 | 6.11 % change on previous year | +80.3% |
| 2013 | 8.36 % change on previous year | +36.7% |
| 2014 | 7.22 % change on previous year | -13.6% |
| 2015 | 12 % change on previous year | +66.1% |
| 2016 | 10.74 % change on previous year | -10.5% |
| 2017 | 5.52 % change on previous year | -48.6% |
| 2018 | 6.75 % change on previous year | +22.3% |
| 2019 | 8.14 % change on previous year | +20.5% |
| 2020 | -4.04 % change on previous year | -149.7% |
| 2021 | 11.13 % change on previous year | -375.3% |
| 2022 | 18.19 % change on previous year | +63.4% |
| 2023 | 11.89 % change on previous year | -34.7% |
| 2024 | 4.36 % change on previous year | -63.3% |
| 2025 | 9.72 % change on previous year | +122.8% |
Iceland compared with similar countries
- Iceland's 9.72 % change on previous year is above the median for high income countries, which is 5.74 % change on previous year, 1.7× the median. (77 countries reporting)
- Iceland's 9.72 % change on previous year is above the median for Europe & Central Asia, which is 7.18 % change on previous year, 1.4× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.35 % change on previous year | 4.5 % change on previous year | 14.94 % change on previous year | 4 |
| 2000s | 11.28 % change on previous year | 4.83 % change on previous year | 20.46 % change on previous year | 10 |
| 2010s | 6.7 % change on previous year | -1.19 % change on previous year | 12 % change on previous year | 10 |
| 2020s | 8.54 % change on previous year | -4.04 % change on previous year | 18.19 % change on previous year | 6 |
Countries ranked near Iceland
- 58 Fiji 9.87 % change on previous year compare
- 59 Armenia 9.86 % change on previous year compare
- 60 Namibia 9.74 % change on previous year compare
- 62 North Macedonia 9.63 % change on previous year compare
- 63 Canada 9.53 % change on previous year compare
- 64 Monaco 9.48 % change on previous year 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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is services, value added (current lcu), annual growth rate in Iceland?
- Services, value added (current lcu), annual growth rate in Iceland was 9.72 % change on previous year in 2025, according to Statizoid (derived).
- What is the highest services, value added (current lcu), annual growth rate recorded in Iceland?
- The highest recorded value was 20.46 % change on previous year in 2007.
- What is the lowest services, value added (current lcu), annual growth rate recorded in Iceland?
- The lowest recorded value was -4.04 % change on previous year in 2020.
- How does Iceland rank for services, value added (current lcu), annual growth rate?
- Iceland ranks 61st out of 204 countries with data for 2025.
- Is services, value added (current lcu), annual growth rate rising or falling in Iceland?
- Over the last ten years it is down 19.0%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Services, value added (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Services, value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Services, value added Country official statistics, National Statistical Offices (NSOs)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Services, value added (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.