Trade as a share of GDP in Iceland
Iceland: Trade as a share of GDP was 82.5% in 2025. ▲ Rising
Latest (2025)
82.5%
Change on year
down 4.3%
World rank
95th
of 191 countries
All-time high
102.4%
in 2012
All-time low
57.9%
in 1992
Years of data
56
1970–2025
Trade as a share of GDP in Iceland, 1970–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
In 2025, trade as a share of gdp in Iceland stood at 82.5%.
Compared with earlier readings it is down 4.3% on the previous year and down 13.1% over ten years.
Over the whole period, trade as a share of gdp in Iceland peaked at 102.4% in 2012 and was at its lowest, 57.9%, in 1992.
Iceland ranks 95th of 191 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 56 years of available data.
Trade as a share of GDP in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 84.1% | — |
| 1971 | 77.5% | -7.9% |
| 1972 | 68.5% | -11.7% |
| 1973 | 69.8% | +1.9% |
| 1974 | 69.2% | -0.9% |
| 1975 | 71.4% | +3.3% |
| 1976 | 65.5% | -8.3% |
| 1977 | 63.5% | -3.0% |
| 1978 | 66.8% | +5.2% |
| 1979 | 71.2% | +6.6% |
| 1980 | 67.7% | -5.0% |
| 1981 | 67.4% | -0.4% |
| 1982 | 65.9% | -2.3% |
| 1983 | 73.6% | +11.8% |
| 1984 | 72.5% | -1.5% |
| 1985 | 76.6% | +5.6% |
| 1986 | 69.9% | -8.7% |
| 1987 | 66.4% | -5.1% |
| 1988 | 61.4% | -7.5% |
| 1989 | 61.8% | +0.6% |
| 1990 | 62.9% | +1.8% |
| 1991 | 60.9% | -3.2% |
| 1992 | 57.9% | -5.0% |
| 1993 | 59.5% | +2.8% |
| 1994 | 63.3% | +6.4% |
| 1995 | 64.3% | +1.6% |
| 1996 | 68.7% | +6.8% |
| 1997 | 69.3% | +0.8% |
| 1998 | 70.8% | +2.2% |
| 1999 | 68.5% | -3.2% |
| 2000 | 70.2% | +2.6% |
| 2001 | 73.9% | +5.3% |
| 2002 | 68.7% | -7.1% |
| 2003 | 67.4% | -1.9% |
| 2004 | 69.7% | +3.5% |
| 2005 | 71.2% | +2.1% |
| 2006 | 76.6% | +7.6% |
| 2007 | 73.6% | -3.9% |
| 2008 | 81.9% | +11.2% |
| 2009 | 89.0% | +8.7% |
| 2010 | 92.5% | +3.9% |
| 2011 | 100.1% | +8.3% |
| 2012 | 102.4% | +2.3% |
| 2013 | 97.7% | -4.6% |
| 2014 | 95.3% | -2.5% |
| 2015 | 94.9% | -0.4% |
| 2016 | 87.8% | -7.5% |
| 2017 | 86.4% | -1.6% |
| 2018 | 88.9% | +3.0% |
| 2019 | 83.8% | -5.8% |
| 2020 | 68.7% | -18.1% |
| 2021 | 76.2% | +11.0% |
| 2022 | 93.0% | +22.0% |
| 2023 | 87.2% | -6.2% |
| 2024 | 86.2% | -1.2% |
| 2025 | 82.5% | -4.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 70.8% | 63.5% | 84.1% | 10 |
| 1980s | 68.3% | 61.4% | 76.6% | 10 |
| 1990s | 64.6% | 57.9% | 70.8% | 10 |
| 2000s | 74.2% | 67.4% | 89.0% | 10 |
| 2010s | 93.0% | 83.8% | 102.4% | 10 |
| 2020s | 82.3% | 68.7% | 93.0% | 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)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 52,920 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 83.85 constant LCU per US$ of GDP (2025)
Frequently asked questions
- What is trade as a share of gdp in Iceland?
- Trade as a share of gdp in Iceland was 82.5% in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest trade as a share of gdp recorded in Iceland?
- The highest recorded value was 102.4% in 2012.
- What is the lowest trade as a share of gdp recorded in Iceland?
- The lowest recorded value was 57.9% in 1992.
- How does Iceland rank for trade as a share of gdp?
- Iceland ranks 95th out of 191 countries with data for 2025.
- Is trade as a share of gdp rising or falling in Iceland?
- Over the last ten years it is down 13.1%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of Trade as a share of GDP. Statizoid updates them automatically from the source API.
Download this data
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About this data
Trade in goods and services as a share of GDP, shown as a percentage.