Flag of is

Iceland GDP

Iceland's GDP rose to $33.46 billion in 2024, up from $31.45 billion in 2023, according to World Bank. This represents an increase of 6.4% ($2.01 billion) from the previous year and accounts for 0.03% of the world's total GDP. Iceland has GDP lower than the global median ($33.46 billion vs median $35.85 billion). Compared with the median in Europe, Iceland is lower ($33.46 billion vs regional median $126.99 billion) and ranks 35th out of 48 countries in Europe.

Iceland's GDP per capita fell to $57,954.57 in 2024, down from $59,307.18 in 2023.

Yearly Historical Data (1960-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 33.46
2023 31.45
2022 28.7
2021 25.77
2020 21.63
2019 24.68
2018 26.26
2017 24.73
2016 20.79
2015 17.52
2014 17.87
2013 16.13
2012 14.75
2011 15.22
2010 13.75
2009 13.15
2008 18.07
2007 21.65
2006 17.47
2005 16.85
2004 13.83
2003 11.43
2002 9.32
2001 8.23
2000 9.03
1999 8.98
1998 8.5
1997 7.57
1996 7.43
1995 7.12
1994 6.39
1993 6.22
1992 7.08
1991 6.91
1990 6.47
1989 5.67
1988 6.11
1987 5.52
1986 3.99
1985 2.98
1984 2.86
1983 2.77
1982 3.21
1981 3.49
1980 3.38
1979 2.85
1978 2.51
1977 2.21
1976 1.67
1975 1.41
1974 1.52
1973 1.15
1972 0.84
1971 0.67
1970 0.53
1969 0.42
1968 0.48
1967 0.63
1966 0.64
1965 0.53
1964 0.44
1963 0.35
1962 0.29
1961 0.26
1960 0.25
Iceland GDP : Definition
GDP measures the total value of all goods and services produced in Iceland, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate 0.52% 5.65% 2024
GDP per Capita $57,954.57 $59,307.18 2024
GDP per Capita PPP $65,645.09 $67,177.2 2024
R&D Expenditure (% GDP) 2.6% 2.78% 2022
Real GDP $23.45B $23.33B 2024