Trade in services (% of GDP) in Iceland
Iceland: Trade in services (% of GDP) was 36.8% in 2025. ▲ Rising
Trade in services in Iceland, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Iceland recorded 36.8% for trade in services in 2025.
Compared with earlier readings it is down 0.9% on the previous year and down 9.2% over ten years.
Over the whole period, trade in services in Iceland peaked at 41.7% in 2013 and was at its lowest, 15.5%, in 1980.
That places Iceland 51st out of 200 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 50 years of available data.
Trade in services (% of GDP) in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1976 | 16.8% | — |
| 1977 | 15.8% | -5.6% |
| 1978 | 17.5% | +10.3% |
| 1979 | 18.5% | +5.9% |
| 1980 | 15.5% | -16.2% |
| 1981 | 16.2% | +4.3% |
| 1982 | 19.6% | +20.9% |
| 1983 | 21.8% | +11.3% |
| 1984 | 22.2% | +2.0% |
| 1985 | 24.5% | +10.5% |
| 1986 | 20.0% | -18.3% |
| 1987 | 18.4% | -8.1% |
| 1988 | 16.9% | -8.3% |
| 1989 | 17.2% | +2.1% |
| 1990 | 16.7% | -3.3% |
| 1991 | 16.5% | -1.1% |
| 1992 | 16.1% | -2.4% |
| 1993 | 18.5% | +15.1% |
| 1994 | 18.1% | -2.3% |
| 1995 | 17.8% | -1.4% |
| 1996 | 19.3% | +8.2% |
| 1997 | 20.8% | +7.9% |
| 1998 | 21.9% | +5.1% |
| 1999 | 21.4% | -2.0% |
| 2000 | 23.8% | +10.9% |
| 2001 | 26.2% | +10.0% |
| 2002 | 24.4% | -6.9% |
| 2003 | 25.4% | +4.2% |
| 2004 | 25.1% | -1.0% |
| 2005 | 27.0% | +7.7% |
| 2006 | 26.2% | -3.2% |
| 2007 | 26.8% | +2.5% |
| 2008 | 28.5% | +6.2% |
| 2009 | 35.2% | +23.5% |
| 2010 | 37.4% | +6.1% |
| 2011 | 39.1% | +4.8% |
| 2012 | 41.4% | +5.8% |
| 2013 | 41.7% | +0.6% |
| 2014 | 40.7% | -2.3% |
| 2015 | 40.6% | -0.3% |
| 2016 | 41.2% | +1.6% |
| 2017 | 40.4% | -1.9% |
| 2018 | 40.5% | +0.1% |
| 2019 | 37.5% | -7.4% |
| 2020 | 23.3% | -37.8% |
| 2021 | 25.6% | +9.7% |
| 2022 | 36.0% | +41.0% |
| 2023 | 37.7% | +4.6% |
| 2024 | 37.1% | -1.4% |
| 2025 | 36.8% | -0.9% |
Iceland compared with similar countries
- Iceland's 36.8% is above the median for high income countries, which is 32.3%, 1.1× the median. (72 countries reporting)
- Iceland's 36.8% is above the median for Europe & Central Asia, which is 31.1%, 1.2× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Trade in services (% of GDP) 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 |
|---|---|---|---|
| 2020 | -37.8% | 37.5% | 23.3% |
| 2022 | +41.0% | 25.6% | 36.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 17.1% | 15.8% | 18.5% | 4 |
| 1980s | 19.2% | 15.5% | 24.5% | 10 |
| 1990s | 18.7% | 16.1% | 21.9% | 10 |
| 2000s | 26.9% | 23.8% | 35.2% | 10 |
| 2010s | 40.0% | 37.4% | 41.7% | 10 |
| 2020s | 32.8% | 23.3% | 37.7% | 6 |
Countries ranked near Iceland
- 48 Palau 38.0% compare
- 49 Barbados 37.8% compare
- 50 Kyrgyzstan 37.1% compare
- 52 South Sudan 36.7% compare
- 53 Micronesia (country) 36.4% compare
- 54 Armenia 35.4% 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 trade in services in Iceland?
- Trade in services in Iceland was 36.8% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Iceland?
- The highest recorded value was 41.7% in 2013.
- What is the lowest trade in services recorded in Iceland?
- The lowest recorded value was 15.5% in 1980.
- How does Iceland rank for trade in services?
- Iceland ranks 51st out of 200 countries with data for 2025.
- Is trade in services rising or falling in Iceland?
- Over the last ten years it is down 9.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.