Iceland — GDP
GDP (Nominal) for Iceland, 1960–2025.
GDP for Iceland was 38.58 billion in 2025, according to the latest World Bank data. The series covers 66 years, from 1960 to 2025. The latest year is also the highest value on record for this series. The lowest was 260.98 million in 1960 (about 147.8× the low point). Across that span the compound annual growth rate works out to 7.99% per year.
Iceland ranks 107 of 212 economies on this measure (1 = highest), putting it in the top 50%. The median for Europe & Central Asia is 101.16 billion, so Iceland sits below it. Over the last decade (2015–2025) the figure moved up 118%. Within Europe & Central Asia it ranks 39 of 57 economies; Georgia (38.14 billion) is just below it. Its sharpest one-year move was up 38% in 1987. That is 43% above this series' own ten-year average.
Data highlights
From its 1960 level: doubled by 1965; grown tenfold by 1979. Doubling roughly every 9.0 years at that pace.
World ranking. Slipped: 85th of 111 in 1960 → 92nd of 146 in 1970 → 90th of 163 in 1980 → 91st of 192 in 1990 → 92nd of 204 in 2000 → 118th of 212 in 2010 → 111th of 210 in 2020 → 105th of 186 in 2025.
Key figures
Full history — 1960 to 2025
| Year | current US$ | Change |
|---|---|---|
| 2025 | 38,582,528,789 | +16.3% |
| 2024 | 33,186,621,855.01 | +4.7% |
| 2023 | 31,701,996,433.78 | +8.7% |
| 2022 | 29,176,227,825.47 | +11.2% |
| 2021 | 26,234,872,402.46 | +19.1% |
| 2020 | 22,034,665,040.79 | -11.8% |
| 2019 | 24,985,687,022.05 | -6.3% |
| 2018 | 26,677,652,544.35 | +6.5% |
| 2017 | 25,060,086,487.89 | +18.9% |
| 2016 | 21,083,713,310.46 | +19.1% |
| 2015 | 17,700,486,957.19 | -1.9% |
| 2014 | 18,052,183,514.87 | +11.1% |
| 2013 | 16,244,319,958.68 | +8.7% |
| 2012 | 14,943,757,823.32 | -2.9% |
| 2011 | 15,394,005,872.15 | +10.6% |
| 2010 | 13,922,711,576.51 | +5.4% |
| 2009 | 13,212,543,837.51 | -27.6% |
| 2008 | 18,247,921,360.26 | -16.9% |
| 2007 | 21,960,110,030.44 | +24.3% |
| 2006 | 17,671,649,843.26 | +3.1% |
| 2005 | 17,146,410,560.53 | +22.8% |
| 2004 | 13,963,943,244 | +20.7% |
| 2003 | 11,564,687,741.99 | +22.8% |
| 2002 | 9,416,199,699.55 | +13.1% |
| 2001 | 8,323,401,820.48 | -8.9% |
| 2000 | 9,140,168,922.36 | +0.4% |
| 1999 | 9,107,644,690.77 | +5.4% |
| 1998 | 8,637,732,541.51 | +11.9% |
| 1997 | 7,716,781,803.08 | +0.4% |
| 1996 | 7,686,566,105.26 | +4.3% |
| 1995 | 7,372,640,168.68 | +11.5% |
| 1994 | 6,612,804,055.79 | +2.7% |
| 1993 | 6,435,952,173.86 | -12.2% |
| 1992 | 7,328,497,599.31 | +2.5% |
| 1991 | 7,151,260,062.07 | +6.8% |
| 1990 | 6,694,851,159.33 | +14.0% |
| 1989 | 5,870,854,233.21 | -7.1% |
| 1988 | 6,320,093,411.45 | +10.6% |
| 1987 | 5,713,281,235.46 | +38.4% |
| 1986 | 4,129,080,094 | +33.7% |
| 1985 | 3,088,359,966.95 | +4.2% |
| 1984 | 2,964,568,005.63 | +3.6% |
| 1983 | 2,862,634,163.62 | -13.7% |
| 1982 | 3,318,714,326.2 | -8.2% |
| 1981 | 3,615,094,820.19 | +3.3% |
| 1980 | 3,499,616,683.34 | +18.5% |
| 1979 | 2,953,176,971.07 | +13.6% |
| 1978 | 2,599,627,088.64 | +13.7% |
| 1977 | 2,285,707,748.78 | +32.3% |
| 1976 | 1,727,845,419.11 | +18.7% |
| 1975 | 1,456,052,700.07 | -7.1% |
| 1974 | 1,568,154,077.04 | +31.2% |
| 1973 | 1,194,794,186.18 | +37.5% |
| 1972 | 869,002,945.84 | +25.3% |
| 1971 | 693,679,545.45 | +27.3% |
| 1970 | 545,115,909.09 | +25.1% |
| 1969 | 435,659,609.94 | -12.6% |
| 1968 | 498,365,199.69 | -23.6% |
| 1967 | 652,609,075.68 | -1.2% |
| 1966 | 660,663,763.28 | +20.1% |
| 1965 | 550,150,988 | +20.6% |
| 1964 | 456,206,298.79 | +27.7% |
| 1963 | 357,240,895.71 | +19.4% |
| 1962 | 299,309,938.07 | +12.2% |
| 1961 | 266,711,460.24 | +2.2% |
| 1960 | 260,984,498.83 | — |
Frequently asked questions
What was Iceland’s GDP in 1961?
266,711,460.24 (1961). The full year-by-year table above lists every published year, most recent first.
Are Iceland’s GDP figures nominal or inflation-adjusted?
They are exactly as the World Bank publishes them — current US$ — with no inflation restatement and no PPP conversion. Years the source does not report are omitted rather than interpolated.
Is Iceland’s GDP growing or shrinking?
Between 1960 and 2025 the series was growing overall: +14683.5% in total — about 8.0% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.MKTP.CD. 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: 38,582,528,789; 2024: 33,186,621,855.01; 2023: 31,701,996,433.78; 2022: 29,176,227,825.47; 2021: 26,234,872,402.46. Earlier years are in the full-history table below.
Related data
NY.GDP.MKTP.CD — GDP (Nominal). 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.