GDP growth (annual %) (UNESCO Institute) in Iceland
Iceland: GDP growth (annual %) (UNESCO Institute) was 0.5% in 2024. ◆ Volatile
GDP growth in Iceland, 1970–2024
Source: UNESCO Institute for Statistics. Measured in annual %.
Analysis
The most recent figure for gdp growth in Iceland is 0.5%, measured in 2024.
That represents a change of down 90.8% on the previous year and down 69.4% over ten years.
Over the whole period, gdp growth in Iceland peaked at 13.1% in 1971 and was at its lowest, -7.7%, in 2009.
That places Iceland 183rd out of 212 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth (annual %) (UNESCO Institute) in Iceland, year by year
| Year | annual % | Change |
|---|---|---|
| 1970 | 7.5% | — |
| 1971 | 13.1% | +75.1% |
| 1972 | 6.2% | -52.7% |
| 1973 | 6.8% | +10.2% |
| 1974 | 5.7% | -16.2% |
| 1975 | 0.6% | -88.7% |
| 1976 | 6.0% | +822.3% |
| 1977 | 8.8% | +48.0% |
| 1978 | 6.0% | -31.8% |
| 1979 | 4.9% | -19.2% |
| 1980 | 5.7% | +18.3% |
| 1981 | 4.3% | -25.8% |
| 1982 | 2.2% | -49.5% |
| 1983 | -2.2% | -199.8% |
| 1984 | 4.1% | -291.9% |
| 1985 | 3.3% | -20.3% |
| 1986 | 6.3% | +90.4% |
| 1987 | 8.5% | +36.3% |
| 1988 | -0.1% | -101.0% |
| 1989 | 0.3% | -388.0% |
| 1990 | 1.2% | +352.5% |
| 1991 | -0.2% | -119.1% |
| 1992 | -3.4% | +1409.4% |
| 1993 | 1.3% | -138.9% |
| 1994 | 3.6% | +174.8% |
| 1995 | 0.1% | -96.8% |
| 1996 | 4.6% | +3817.6% |
| 1997 | 5.8% | +26.4% |
| 1998 | 7.4% | +27.6% |
| 1999 | 4.0% | -45.2% |
| 2000 | 5.0% | +23.5% |
| 2001 | 4.0% | -19.5% |
| 2002 | 0.6% | -86.1% |
| 2003 | 2.1% | +283.0% |
| 2004 | 7.8% | +264.1% |
| 2005 | 6.1% | -21.5% |
| 2006 | 6.3% | +3.1% |
| 2007 | 8.5% | +33.8% |
| 2008 | 2.2% | -73.9% |
| 2009 | -7.7% | -446.9% |
| 2010 | -2.8% | -63.0% |
| 2011 | 1.8% | -165.2% |
| 2012 | 1.1% | -42.4% |
| 2013 | 4.6% | +328.0% |
| 2014 | 1.7% | -62.9% |
| 2015 | 4.4% | +163.0% |
| 2016 | 6.3% | +42.1% |
| 2017 | 4.2% | -33.5% |
| 2018 | 4.9% | +16.5% |
| 2019 | 1.9% | -61.9% |
| 2020 | -6.9% | -472.9% |
| 2021 | 5.0% | -172.5% |
| 2022 | 9.0% | +78.4% |
| 2023 | 5.6% | -37.1% |
| 2024 | 0.5% | -90.8% |
Iceland compared with similar countries
- Iceland's 0.5% is below the median for high income countries, which is 2.3%, 23% of the median. (83 countries reporting)
- Iceland's 0.5% is below the median for Europe & Central Asia, which is 2.3%, 23% of the median. (55 countries reporting)
Biggest year-on-year movements
Years where GDP growth (annual %) (UNESCO Institute) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1996 | +3817.6% | 0.1% | 4.6% |
| 1992 | -1409.4% | -0.2% | -3.4% |
| 1976 | +822.3% | 0.6% | 6.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.6% | 0.6% | 13.1% | 10 |
| 1980s | 3.2% | -2.2% | 8.5% | 10 |
| 1990s | 2.4% | -3.4% | 7.4% | 10 |
| 2000s | 3.5% | -7.7% | 8.5% | 10 |
| 2010s | 2.8% | -2.8% | 6.3% | 10 |
| 2020s | 2.6% | -6.9% | 9.0% | 5 |
Countries ranked near Iceland
More population data for Iceland
- Population regions with projections, annual growth rate -0.4984 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -5.08 % change on previous year (2050)
- Population long run with projections, annual growth rate -0.4984 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate -0.2688 % change on previous year (2100)
- Africa's Development Dynamics (AfDD) Table 05 - Demographic estimates 408.78 Persons (2050)
- Africa's Development Dynamics (AfDD) Table 03 - Annual population 0.4806 Percent per annum (2030)
- Projected population under age 5, annual growth rate -0.6617 % change on previous year (2100)
- Population growth rate -0.502 (2100)
- Population density 3.6 (2100)
- Projected population under age 5 13,661 (2100)
Frequently asked questions
- What is gdp growth in Iceland?
- Gdp growth in Iceland was 0.5% in 2024, according to UNESCO Institute for Statistics.
- What is the highest gdp growth recorded in Iceland?
- The highest recorded value was 13.1% in 1971.
- What is the lowest gdp growth recorded in Iceland?
- The lowest recorded value was -7.7% in 2009.
- How does Iceland rank for gdp growth?
- Iceland ranks 183rd out of 212 countries with data for 2024.
- Is gdp growth rising or falling in Iceland?
- Over the last ten years it is down 69.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from UNESCO Institute for Statistics, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release