Europe & Central Asia · High income
Iceland: the economy in numbers
Per person: $98,323, or $83,431 at purchasing power parity. Population: 392,404 (2025).
GDP in 2025, current US dollars: #106 of 204 economies. IMF forecast for 2026: +1.4%.
GDP
Adjusted for US inflation, in 2025 dollars: $2.84 billion in 1960, $38.6 billion in 2025.
GDP per capita
In 2025 dollars: $16,195 per person in 1960, $98,323 in 2025.
Real GDP growth
Average over 2016–2025: 2.7% a year. Years of falling GDP since 1961: 11 of 65.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Inflation
Consumer prices rose 3.29 times from 2000 to 2025. Highest annual inflation: 84.0% in 1983.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Government debt, % of GDP
Highest since 1982: 136.6% of GDP in 2011. IMF forecast for 2031: 47.5%.
Source: World Bank, World Development Indicators (CC BY 4.0)
Population
1960: 175,574 · 2025: 392,404.
Unemployment rate
1991: 2.5% · 2025: 3.6%.
Life expectancy at birth
1960: 74.0 years · 2024: 82.8 years.
Exports of goods and services
1970: 42.8% · 2025: 40.1%.
Data by year
Show the year-by-year table
| Year | GDP | GDP per capita | Per capita, PPP | Real growth | Inflation | Gov. debt, % GDP | Population | Unemployment | Life expectancy | Exports, % GDP |
|---|---|---|---|---|---|---|---|---|---|---|
| 2031 | 2.4%f | 2.5%f | 47.5%f | |||||||
| 2030 | 2.4%f | 2.5%f | 48.6%f | |||||||
| 2029 | 2.4%f | 2.5%f | 50.0%f | |||||||
| 2028 | 2.1%f | 2.4%f | 51.6%f | |||||||
| 2027 | 1.8%f | 3.6%f | 52.9%f | |||||||
| 2026 | 1.4%f | 5.6%f | 54.6%f | |||||||
| 2025 | $38.6B | $98,323 | $83,431 | 1.3% | 4.1% | 56.7% | 392K | 3.6% | 40.1% | |
| 2024 | $33.2B | $85,863 | $83,561 | −1.3% | 5.9% | 60.5% | 387K | 3.6% | 82.8 | 42.5% |
| 2023 | $31.7B | $82,201 | $82,257 | 5.0% | 8.7% | 61.6% | 386K | 3.5% | 82.5 | 44.0% |
| 2022 | $29.2B | $76,377 | $76,592 | 8.9% | 8.3% | 66.4% | 382K | 3.8% | 82.1 | 46.7% |
| 2021 | $26.2B | $70,425 | $62,721 | 5.2% | 4.4% | 73.6% | 373K | 6.0% | 83.2 | 37.4% |
| 2020 | $22B | $60,128 | $56,841 | −6.6% | 2.8% | 76.1% | 366K | 5.5% | 83.1 | 34.1% |
| 2019 | $25B | $69,296 | $61,270 | 1.1% | 3.0% | 65.7% | 361K | 3.5% | 83.2 | 44.7% |
| 2018 | $26.7B | $75,634 | $58,106 | 4.7% | 2.7% | 62.3% | 353K | 2.7% | 82.9 | 46.5% |
| 2017 | $25.1B | $72,976 | $56,385 | 3.5% | 1.8% | 70.8% | 343K | 2.7% | 82.7 | 45.7% |
| 2016 | $21.1B | $62,854 | $54,228 | 6.2% | 1.7% | 81.3% | 335K | 3.0% | 82.2 | 47.5% |
| 2015 | $17.7B | $53,506 | $49,716 | 3.8% | 1.6% | 96.3% | 331K | 4.0% | 82.5 | 51.3% |
| 2014 | $18.1B | $55,140 | $46,472 | 1.9% | 2.0% | 114.1% | 327K | 4.9% | 82.9 | 50.9% |
| 2013 | $16.2B | $50,173 | $44,738 | 3.6% | 3.9% | 121.1% | 324K | 5.4% | 82.1 | 52.8% |
| 2012 | $14.9B | $46,595 | $42,552 | 1.2% | 5.2% | 132.2% | 321K | 6.0% | 82.9 | 54.2% |
| 2011 | $15.4B | $48,255 | $41,400 | 1.4% | 4.0% | 136.6% | 319K | 7.0% | 82.4 | 54.0% |
| 2010 | $13.9B | $43,776 | $40,260 | −2.2% | 5.4% | 131.5% | 318K | 7.6% | 81.9 | 51.1% |
| 2009 | $13.2B | $41,484 | $42,070 | −8.3% | 12.0% | 128.2% | 318K | 7.2% | 81.8 | 48.5% |
| 2008 | $18.2B | $57,489 | $44,147 | 1.7% | 12.7% | 109.3% | 317K | 2.9% | 81.6 | 39.9% |
| 2007 | $22B | $70,483 | $42,060 | 8.7% | 5.1% | 67.4% | 312K | 2.3% | 81.5 | 32.4% |
| 2006 | $17.7B | $58,172 | $40,161 | 5.7% | 6.7% | 69.8% | 304K | 2.8% | 81.2 | 30.1% |
| 2005 | $17.1B | $57,784 | $37,973 | 7.0% | 4.0% | 67.8% | 297K | 2.5% | 81.5 | 29.8% |
| 2004 | $14B | $47,810 | $35,970 | 7.6% | 3.2% | 80.1% | 292K | 4.0% | 81.0 | 32.1% |
| 2003 | $11.6B | $39,944 | $33,084 | 2.3% | 2.1% | 84.1% | 290K | 4.0% | 81.0 | 32.2% |
| 2002 | $9.42B | $32,749 | $32,949 | 0.5% | 5.2% | 81.3% | 288K | 3.0% | 80.5 | 35.1% |
| 2001 | $8.32B | $29,208 | $32,225 | 3.8% | 6.4% | 82.5% | 285K | 1.9% | 80.7 | 36.5% |
| 2000 | $9.14B | $32,504 | $30,167 | 4.9% | 5.1% | 74.8% | 281K | 1.9% | 79.7 | 31.7% |
| 1999 | $9.11B | $32,834 | $29,971 | 3.9% | 3.2% | 75.5% | 277K | 2.2% | 79.4 | 32.0% |
| 1998 | $8.64B | $31,519 | $29,176 | 7.0% | 1.7% | 43.3% | 274K | 3.1% | 79.6 | 33.2% |
| 1997 | $7.72B | $28,462 | $27,397 | 4.1% | 1.8% | 51.1% | 271K | 3.7% | 78.9 | 34.9% |
| 1996 | $7.69B | $28,584 | $25,645 | 4.5% | 2.3% | 53.7% | 269K | 3.6% | 78.8 | 34.6% |
| 1995 | $7.37B | $27,565 | $24,792 | 0.1% | 1.7% | 56.1% | 267K | 5.2% | 78.0 | 33.8% |
| 1994 | $6.61B | $24,858 | $24,386 | 3.6% | 1.6% | 53.0% | 266K | 5.3% | 79.2 | 34.0% |
| 1993 | $6.44B | $24,404 | $23,245 | 1.3% | 4.0% | 50.6% | 264K | 5.3% | 78.9 | 31.2% |
| 1992 | $7.33B | $28,072 | $22,642 | −3.4% | 3.9% | 43.9% | 261K | 4.3% | 78.8 | 28.8% |
| 1991 | $7.15B | $27,740 | $23,200 | −0.2% | 6.8% | 36.4% | 258K | 2.5% | 78.0 | 29.8% |
| 1990 | $6.69B | $26,272 | $22,754 | 1.2% | 15.5% | 34.4% | 255K | 78.0 | 32.0% | |
| 1989 | $5.87B | $23,219 | 0.3% | 20.8% | 34.2% | 253K | 78.1 | 31.9% | ||
| 1988 | $6.32B | $25,307 | −0.1% | 25.7% | 29.6% | 250K | 77.1 | 30.2% | ||
| 1987 | $5.71B | $23,238 | 8.5% | 18.3% | 26.5% | 246K | 77.3 | 32.6% | ||
| 1986 | $4.13B | $16,980 | 6.3% | 22.1% | 29.0% | 243K | 78.0 | 36.7% | ||
| 1985 | $3.09B | $12,793 | 3.3% | 32.0% | 31.1% | 241K | 77.6 | 38.3% | ||
| 1984 | $2.96B | $12,378 | 4.1% | 30.9% | 31.6% | 240K | 77.6 | 36.2% | ||
| 1983 | $2.86B | $12,080 | −2.2% | 84.0% | 29.9% | 237K | 76.8 | 37.8% | ||
| 1982 | $3.32B | $14,191 | 2.2% | 50.2% | 28.1% | 234K | 77.0 | 30.6% | ||
| 1981 | $3.62B | $15,666 | 4.3% | 51.8% | 231K | 76.5 | 33.0% | |||
| 1980 | $3.5B | $15,340 | 5.7% | 58.5% | 228K | 76.8 | 33.8% | |||
| 1979 | $2.95B | $13,082 | 4.9% | 44.4% | 226K | 76.8 | 36.1% | |||
| 1978 | $2.6B | $11,630 | 6.0% | 43.7% | 224K | 76.6 | 34.8% | |||
| 1977 | $2.29B | $10,305 | 8.8% | 30.3% | 222K | 76.4 | 31.3% | |||
| 1976 | $1.73B | $7,848 | 6.0% | 31.9% | 220K | 77.0 | 32.9% | |||
| 1975 | $1.46B | $6,680 | 0.6% | 49.4% | 218K | 75.6 | 31.7% | |||
| 1974 | $1.57B | $7,287 | 5.7% | 42.5% | 215K | 74.5 | 29.9% | |||
| 1973 | $1.19B | $5,627 | 6.8% | 21.4% | 212K | 74.5 | 33.9% | |||
| 1972 | $869M | $4,155 | 6.2% | 9.8% | 209K | 74.5 | 33.3% | |||
| 1971 | $694M | $3,366 | 13.1% | 6.7% | 206K | 73.6 | 35.6% | |||
| 1970 | $545M | $2,666 | 7.5% | 13.4% | 204K | 73.9 | 42.8% | |||
| 1969 | $436M | $2,142 | 2.4% | 21.7% | 203K | 73.8 | ||||
| 1968 | $498M | $2,473 | −5.5% | 15.1% | 201K | 74.0 | ||||
| 1967 | $653M | $3,284 | −1.3% | 3.3% | 199K | 73.8 | ||||
| 1966 | $661M | $3,378 | 8.8% | 10.7% | 196K | 73.3 | ||||
| 1965 | $550M | $2,861 | 7.3% | 7.3% | 192K | 73.9 | ||||
| 1964 | $456M | $2,414 | 9.9% | 19.2% | 189K | 73.5 | ||||
| 1963 | $357M | $1,924 | 10.3% | 12.9% | 186K | 73.0 | ||||
| 1962 | $299M | $1,641 | 8.3% | 11.0% | 182K | 73.7 | ||||
| 1961 | $267M | $1,490 | −0.1% | 4.7% | 179K | 73.5 | ||||
| 1960 | $261M | $1,486 | 2.0% | 176K | 74.0 |
e: IMF estimate; f: IMF forecast.
Nearby economies in Europe & Central Asia
Nearest by distance between capitals, with GDP per capita.
Albania · Andorra · Armenia · Austria · Azerbaijan · Belarus · Belgium · Bosnia and Herzegovina · Bulgaria · Channel Islands · Croatia · Cyprus · Czechia · Denmark · Estonia · Faroe Islands · Finland · France · Georgia · Germany · Gibraltar · Greece · Greenland · Hungary · Iceland · Ireland · Isle of Man · Italy · Kazakhstan · Kosovo · Kyrgyzstan · Latvia · Liechtenstein · Lithuania · Luxembourg · Moldova · Monaco · Montenegro · Netherlands · North Macedonia · Norway · Poland · Portugal · Romania · Russia · San Marino · Serbia · Slovakia · Slovenia · Spain · Sweden · Switzerland · Tajikistan · Turkmenistan · Türkiye · Ukraine · United Kingdom · Uzbekistan
Rankings
GDP by country · GDP per capita · Real GDP growth · Inflation by country · Government debt to GDP · Stock market to GDP · Population by country · Unemployment by country
Data and methods
- GDP: gross domestic product in current US dollars, converted from the local currency at market exchange rates (World Bank); not adjusted for inflation.
- Purchasing power parity (PPP): GDP per person in international dollars, which buy the same basket of goods and services in every country. It compares living standards across countries in the same year; it is not adjusted for inflation over time.
- In 2025 dollars: the charts can remove US inflation (US consumer price index, annual average) so that dollar amounts from different years compare in today's money. Exchange rate swings still show.
- Growth and inflation: World Bank data (calendar years). Years the World Bank does not cover yet, and the estimates and forecasts, come from the IMF World Economic Outlook (October 2026): its forecasts start in 2026, and the years after a country's last actual year are IMF estimates.
- Government debt: gross debt of the general government (central, state and local government and social security funds) as a percentage of GDP, IMF. The World Bank's central government debt is narrower and covers fewer countries.
- Stock market capitalization: the end-of-year value of domestic companies listed on the country's exchanges (World Federation of Exchanges via the World Bank; before 2016, Standard & Poor's), as a percentage of GDP: the “Buffett indicator”. Investment funds are excluded, and so are companies listed only abroad; companies from elsewhere that list on an exchange count for its country (Hong Kong lists many mainland Chinese companies).
- Unemployment: ILO modeled estimates (share of the labor force); comparable across countries, but they may differ from national figures.
Source: World Bank, World Development Indicators (CC BY 4.0)
Source: International Monetary Fund, World Economic Outlook (October 2026)