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Iceland — GDP growth
GDP Growth (Annual %) for Iceland, 1961–2025.
Latest value · 2025
1.28%
GDP Growth (Annual %) · annual % · +1824.7% since 1961
GDP growth for Iceland was 1.28% in 2025, according to the latest World Bank data. The series covers 65 years, from 1961 to 2025. The highest recorded value was 13.06% in 1971. The lowest was -8.32% in 2009 (about -6.5× the latest value).
Iceland ranks 166 of 212 economies on this measure (1 = highest), putting it in the top 78%. The median for Europe & Central Asia is 2.03%, so Iceland sits below it. It peaked in 1971 and has fallen 90% since. Over the last decade (2015–2025) the figure moved down 66%.
Key figures
Latest (2025)
1.28%
First (1961)
-0.07%
Change
+1824.7%
Highest
13.06%
in 1971
Lowest
-8.32%
in 2009
Average
3.56%
Annual growth (CAGR)
—
Years of data
65
Recent years
| Year | annual % |
|---|---|
| 2025 | 1.28% |
| 2024 | -1.28% |
| 2023 | 5.03% |
| 2022 | 8.86% |
| 2021 | 5.18% |
| 2020 | -6.65% |
| 2019 | 1.14% |
| 2018 | 4.66% |
| 2017 | 3.49% |
| 2016 | 6.22% |
| 2015 | 3.77% |
| 2014 | 1.91% |
Reading this correctly. Annual percentage growth rate of GDP at constant market prices. A negative value means the economy contracted that year. Figures are in annual %. Comparing this series with a different measure of the same concept (for example a nominal figure against a purchasing-power-parity figure) will give misleading results.
Related data
Source. World Bank Open Data, indicator
NY.GDP.MKTP.KD.ZG — GDP Growth (Annual %). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.