Iceland — GDP growth
GDP Growth (Annual %) for Iceland, 1961–2025.
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%. Within Europe & Central Asia it ranks 38 of 57 economies; Norway (1.09%) is just below it. Its sharpest one-year move was up 11308% in 1962. That is 56% below this series' own ten-year average.
Data highlights
World ranking. Slipped: 97th of 107 in 1961 → 38th of 119 in 1970 → 49th of 152 in 1980 → 113th of 176 in 1990 → 75th of 199 in 2000 → 192nd of 209 in 2010 → 140th of 209 in 2020 → 152nd of 186 in 2025.
Key figures
Full history — 1961 to 2025
| Year | annual % | Change |
|---|---|---|
| 2025 | 1.28% | +2.6 pp |
| 2024 | -1.28% | -6.3 pp |
| 2023 | 5.03% | -3.8 pp |
| 2022 | 8.86% | +3.7 pp |
| 2021 | 5.18% | +11.8 pp |
| 2020 | -6.65% | -7.8 pp |
| 2019 | 1.14% | -3.5 pp |
| 2018 | 4.66% | +1.2 pp |
| 2017 | 3.49% | -2.7 pp |
| 2016 | 6.22% | +2.4 pp |
| 2015 | 3.77% | +1.9 pp |
| 2014 | 1.91% | -1.7 pp |
| 2013 | 3.6% | +2.4 pp |
| 2012 | 1.17% | -0.2 pp |
| 2011 | 1.38% | +3.6 pp |
| 2010 | -2.22% | +6.1 pp |
| 2009 | -8.32% | -10.0 pp |
| 2008 | 1.7% | -7.0 pp |
| 2007 | 8.74% | +3.1 pp |
| 2006 | 5.67% | -1.4 pp |
| 2005 | 7.03% | -0.6 pp |
| 2004 | 7.62% | +5.3 pp |
| 2003 | 2.28% | +1.7 pp |
| 2002 | 0.54% | -3.3 pp |
| 2001 | 3.84% | -1.1 pp |
| 2000 | 4.91% | +1.0 pp |
| 1999 | 3.9% | -3.1 pp |
| 1998 | 7.01% | +2.9 pp |
| 1997 | 4.14% | -0.4 pp |
| 1996 | 4.5% | +4.4 pp |
| 1995 | 0.12% | -3.5 pp |
| 1994 | 3.61% | +2.3 pp |
| 1993 | 1.31% | +4.7 pp |
| 1992 | -3.37% | -3.2 pp |
| 1991 | -0.22% | -1.4 pp |
| 1990 | 1.17% | +0.9 pp |
| 1989 | 0.26% | +0.3 pp |
| 1988 | -0.09% | -8.6 pp |
| 1987 | 8.55% | +2.3 pp |
| 1986 | 6.27% | +3.0 pp |
| 1985 | 3.29% | -0.8 pp |
| 1984 | 4.13% | +6.3 pp |
| 1983 | -2.15% | -4.3 pp |
| 1982 | 2.15% | -2.1 pp |
| 1981 | 4.27% | -1.5 pp |
| 1980 | 5.75% | +0.9 pp |
| 1979 | 4.86% | -1.2 pp |
| 1978 | 6.02% | -2.8 pp |
| 1977 | 8.82% | +2.9 pp |
| 1976 | 5.96% | +5.3 pp |
| 1975 | 0.65% | -5.1 pp |
| 1974 | 5.71% | -1.1 pp |
| 1973 | 6.81% | +0.6 pp |
| 1972 | 6.18% | -6.9 pp |
| 1971 | 13.06% | +5.6 pp |
| 1970 | 7.46% | +5.1 pp |
| 1969 | 2.39% | +7.9 pp |
| 1968 | -5.5% | -4.2 pp |
| 1967 | -1.26% | -10.0 pp |
| 1966 | 8.75% | +1.5 pp |
| 1965 | 7.3% | -2.6 pp |
| 1964 | 9.88% | -0.4 pp |
| 1963 | 10.28% | +2.0 pp |
| 1962 | 8.31% | +8.4 pp |
| 1961 | -0.07% | — |
Frequently asked questions
What was Iceland’s GDP growth in 1962?
8.31% (1962). The full year-by-year table above lists every published year, most recent first.
Are changes in this series measured in percentage points?
Yes. The series is a share expressed in annual %, so year-over-year movements in the Change column are percentage points (pp), not percent.
Is Iceland’s GDP growth growing or shrinking?
Between 1961 and 2025 the series was growing overall: +1824.7% in total.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.MKTP.KD.ZG. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2025: 1.28%; 2024: -1.28%; 2023: 5.03%; 2022: 8.86%; 2021: 5.18%. Earlier years are in the full-history table below.
Related data
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.