Iceland
ISLEurope & Central AsiaHigh incomeCapital: ReykjavikEconomy
Fiscal
People
Health
Education
Trade
Energy / Env
Tech
Governance
Equality
Infra
Labor
70/80 indicators · percentile vs world (IMF / WB / WHO)underover
GDP
$47
2027▲ 7.5%
Population
386,506
2024▲ 0.2%
GDP per Capita
$114,326
2027▲ 5.3%
Life Expectancy
82.6 years
2023▲ 0.6%
Iceland in world space2000–2023
192 countries · log scale on X world Iceland· trajectory line: 1980 → today
▶About Iceland
Iceland's GDP is $43.40B (2026), with a population of 386,506, and GDP per capita of $108,591. Key indicators include real GDP growth of 2.3%, inflation at 3.1%, unemployment at 4.0%, government debt at 44.9% of GDP, life expectancy of 82.6 years. Data sourced from the IMF World Economic Outlook and World Bank World Development Indicators.
Iceland's economy is characterized by high income and robust growth, with a projected GDP of $43.404 billion in 2026. The GDP growth rate is expected to be 2.3% for the same year, reflecting a stable economic environment. The GDP per capita is notably high, anticipated to reach $108,591.227 in 2026, indicating a strong per capita economic output. Inflation is projected at 3.1% in 2026, while trade constitutes a significant portion of the economy, with trade/GDP ratio at 85.967% in 2024. Unemployment is expected to be 3.625% in 2025, suggesting a relatively tight labor market. Societally, Iceland boasts a high life expectancy of 82.607 years as of 2023, reflecting strong healthcare and living standards. The population is relatively small, estimated at 386,506 in 2024. The capital, Reykjavik, serves as the primary economic and cultural hub, contributing significantly to the nation's development and prosperity.
▶Economy30 indicators · 2021–2027 · IMF / WB
▶Financial Markets3 indicators · 2021–2026 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| 10-Year Government Bond Yield (%) | 0.78% | 2021 | ▲ 128.4% | WB |
| Exchange Rate (per USD) | 122.38 | 2026 | — | WB |
| Exchange Rate (per EUR) | 144.66 | 2025 | ▼ 3.1% | WB |
▶Fiscal & Monetary21 indicators · 2023–2027 · IMF / WB
▶Trade15 indicators · 2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Trade (% of GDP) | 86.0% | 2024 | ▼ 1.6% | WB |
| Exports of Goods & Services (% of GDP) | 42.5% | 2024 | ▼ 3.8% | WB |
| Imports of Goods & Services (% of GDP) | 43.5% | 2024 | ▲ 0.6% | WB |
| Exports of Goods & Services (USD) | $14.12B | 2024 | ▲ 1.0% | WB |
| Imports of Goods & Services (USD) | $14.47B | 2024 | ▲ 5.6% | WB |
| Merchandise Exports (USD) | $6.94B | 2024 | ▲ 2.2% | WB |
| Merchandise Imports (USD) | $9.81B | 2024 | ▲ 3.7% | WB |
| FDI Inflows (% of GDP) | 8.1% | 2024 | ▲ 36.3% | WB |
| FDI Outflows (% of GDP) | 1.4% | 2024 | ▲ 26.7% | WB |
| FDI Net Inflows (USD) | $2.70B | 2024 | ▲ 43.1% | WB |
| Personal Remittances Received (USD) | $246.1M | 2024 | ▲ 11.4% | WB |
| Personal Remittances Received (% of GDP) | 0.7% | 2024 | ▲ 6.1% | WB |
| High-Tech Exports (% of manufactured) | 54.0% | 2024 | ▲ 24.3% | WB |
| Current Account Balance (% of GDP) | -2.6% | 2024 | ▼ 159.8% | WB |
| Current Account Balance (USD) | $-867.0M | 2024 | ▼ 172.7% | WB |
▶Finance7 indicators · 2023–2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Domestic Credit to Private Sector (% of GDP) | 90.9% | 2024 | ▲ 2.9% | WB |
| Bank Capital to Assets Ratio (%) | 13.7% | 2023 | ▲ 1.7% | WB |
| Bank Nonperforming Loans (%) | 1.6% | 2023 | ▲ 12.8% | WB |
| Account Ownership at Financial Institution (%) | 99.9% | 2024 | ▼ 0.1% | WB |
| Account Ownership, Female (%) | 99.7% | 2024 | ▼ 0.3% | WB |
| Account Ownership, Male (%) | 100.0% | 2024 | ▲ 0.0% | WB |
| Firms Using Banks to Finance Investment (%) | 35.0% | 2024 | — | WB |
▶Business Environment1 indicator · 2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Time to Get Electricity (days) | 49 | 2024 | — | WB |
▶Private Sector6 indicators · 2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Firms Expected to Pay Bribes (%) | 0.9% | 2024 | — | WB |
| Firms with Female Top Manager (%) | 58.8% | 2024 | — | WB |
| Firms with Female Participation in Ownership (%) | 17.1% | 2024 | — | WB |
| Firms Offering Training (%) | 47.7% | 2024 | — | WB |
| Average Firm Age (years) | 43 years | 2024 | — | WB |
| Firms Using Computers (%) | 35.4% | 2024 | — | WB |
▶People23 indicators · 2023–2025 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Population | 386,506 | 2024 | ▲ 0.2% | WB |
| Population Growth (%) | 0.2% | 2024 | ▼ 77.1% | WB |
| Population Density (per km²) | 4 | 2023 | ▲ 1.0% | WB |
| Surface Area (sq km) | 103,000 | 2023 | ▲ 0.0% | WB |
| Land Area (sq km) | 100,830 | 2023 | ▲ 0.0% | WB |
| Urban Population (%) | 94.2% | 2024 | ▲ 0.0% | WB |
| Urban Population (total) | 364,019 | 2024 | ▲ 0.3% | WB |
| Rural Population (%) | 5.8% | 2024 | ▼ 0.5% | WB |
| Life Expectancy at Birth | 82.6 years | 2023 | ▲ 0.6% | WB |
| Life Expectancy, Male | 80.9 years | 2023 | ▲ 0.0% | WB |
| Life Expectancy, Female | 84.4 years | 2023 | ▲ 1.2% | WB |
| Fertility Rate (births per woman) | 1.6 | 2023 | ▲ 0.1% | WB |
| Birth Rate (per 1,000) | 11 | 2023 | ▼ 4.3% | WB |
| Death Rate (per 1,000) | 6.6 | 2023 | ▼ 5.7% | WB |
| Net Migration | 2,709 | 2025 | ▼ 23.5% | WB |
| Population Ages 0–14 (%) | 17.8% | 2024 | ▼ 1.6% | WB |
| Population Ages 15–64 (%) | 66.6% | 2024 | ▼ 0.0% | WB |
| Population Ages 65+ (%) | 15.6% | 2024 | ▲ 1.9% | WB |
| Age Dependency Ratio (%) | 50.2% | 2024 | ▲ 0.0% | WB |
| Old-Age Dependency Ratio (%) | 23.5% | 2024 | ▲ 1.9% | WB |
| Youth Dependency Ratio (%) | 26.7% | 2024 | ▼ 1.6% | WB |
| Mortality Rate, Adult Male (per 1,000) | 76.5 | 2023 | ▲ 12.8% | WB |
| Mortality Rate, Adult Female (per 1,000) | 46.7 | 2023 | ▲ 13.2% | WB |
▶Labor20 indicators · 2024–2025 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Total Labor Force | 241,522 | 2025 | ▲ 1.1% | WB |
| Labor Force Participation (%) | 74.9% | 2025 | ▼ 0.3% | WB |
| Female Labor Force Participation (%) | 70.0% | 2025 | ▼ 0.3% | WB |
| Male Labor Force Participation (%) | 79.6% | 2025 | ▼ 0.3% | WB |
| Unemployment (%) | 3.6% | 2025 | ▲ 0.7% | WB |
| Female Unemployment (%) | 3.4% | 2025 | ▲ 0.7% | WB |
| Male Unemployment (%) | 3.9% | 2025 | ▲ 0.7% | WB |
| Youth Unemployment (%) | 8.7% | 2025 | ▼ 1.2% | WB |
| Employment in Agriculture (%) | 3.6% | 2025 | ▼ 2.5% | WB |
| Employment in Industry (%) | 18.2% | 2025 | ▼ 0.9% | WB |
| Employment in Services (%) | 78.1% | 2025 | ▲ 0.3% | WB |
| Self-Employed (%) | 76.3% | 2024 | ▲ 1.6% | WB |
| Vulnerable Employment (%) | 8.4% | 2025 | ▼ 0.8% | WB |
| Wage & Salaried Workers (% of total) | 86.7% | 2025 | ▲ 0.0% | WB |
| Part-Time Employment (%) | 48.9% | 2024 | ▼ 2.3% | WB |
| Employers (% of total employment) | 4.9% | 2025 | ▲ 0.4% | WB |
| Labor Force, Female (% of total) | 45.6% | 2025 | ▼ 0.1% | WB |
| Employment to Population Ratio (%) | 72.2% | 2025 | ▼ 0.3% | WB |
| Self-Employed (% of total) | 13.3% | 2025 | ▼ 0.3% | WB |
| NEET Youth (% not in education/employment) | 4.0% | 2024 | ▼ 32.0% | WB |
▶Education15 indicators · 2015–2023 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Education Spending (% of GDP) | 7.3% | 2022 | ▼ 11.2% | WB |
| Education Spending (% of govt expenditure) | 15.7% | 2022 | ▼ 5.6% | WB |
| Primary School Enrollment (%) | 98.2% | 2023 | ▼ 0.3% | WB |
| Secondary School Enrollment (%) | 108.9% | 2023 | ▼ 3.3% | WB |
| Tertiary School Enrollment (%) | 76.5% | 2023 | ▼ 10.0% | WB |
| Primary Completion Rate (%) | 98.6% | 2023 | ▼ 0.3% | WB |
| Lower Secondary Completion Rate (%) | 97.8% | 2023 | ▲ 1.6% | WB |
| Out-of-School Children, Primary | 599 | 2023 | ▲ 19.1% | WB |
| Out-of-School Girls, Primary | 284 | 2023 | ▲ 10.5% | WB |
| Primary School Teachers | 3,568 | 2023 | ▲ 1.2% | WB |
| Pupil-Teacher Ratio, Primary | 10 | 2015 | — | WB |
| Expenditure per Student, Primary (% of GDP/cap) | 27.9% | 2016 | — | WB |
| Pupil-Teacher Ratio (Primary) | 98.9 | 2019 | — | WB |
| Education Spending, Secondary (% of govt) | 27.3% | 2016 | — | WB |
| Education Spending, Tertiary (% of govt) | 19.9% | 2016 | — | WB |
▶Health36 indicators · 2019–2024 · WHO
▶Energy & Environment15 indicators · 2020–2024 · WB / WHO
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| CO₂ Emissions (tonnes per capita) | 8.5 | 2024 | ▲ 2.0% | WB |
| CO₂ Emissions (total kilotonnes) | 3 | 2024 | ▲ 2.3% | WB |
| Energy Use (kg oil eq. per capita) | 15,686 | 2023 | ▼ 0.8% | WB |
| Electric Power Consumption (kWh per capita) | 50,951 | 2023 | ▼ 0.6% | WB |
| Renewable Energy Consumption (%) | 82.4% | 2021 | ▼ 0.6% | WB |
| Access to Electricity (%) | 100.0% | 2023 | ▲ 0.0% | WB |
| Access to Clean Fuels for Cooking (%) | 100.0% | 2023 | ▲ 0.0% | WB |
| PM2.5 Air Pollution (µg/m³) | 5.1 | 2020 | — | WB |
| Forest Area (%) | 0.5% | 2023 | ▲ 1.2% | WB |
| Forest Area (sq km) | 533 | 2023 | ▲ 1.2% | WB |
| Arable Land (%) | 1.2% | 2023 | ▲ 0.0% | WB |
| Terrestrial Protected Areas (%) | 2.9% | 2024 | ▲ 0.0% | WB |
| Marine Protected Areas (%) | 0.5% | 2024 | ▲ 25.0% | WB |
| Access to Basic Drinking Water (%) | 100.0% | 2024 | ▲ 0.0% | WHO |
| Access to Basic Sanitation (%) | 98.8% | 2024 | ▼ 0.0% | WHO |
▶Agriculture12 indicators · 2022–2023 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Agricultural Land (%) | 16.2% | 2023 | ▼ 12.5% | WB |
| Cereal Yield (kg per hectare) | 2,430 | 2023 | ▼ 18.1% | WB |
| Food Production Index (2014–2016=100) | 102.1 | 2022 | ▼ 1.7% | WB |
| Crop Production Index (2014–2016=100) | 117.6 | 2022 | ▲ 15.7% | WB |
| Livestock Production Index (2014–2016=100) | 101.3 | 2022 | ▼ 2.1% | WB |
| Land Under Cereal Production (hectares) | 3,160 | 2023 | ▲ 5.3% | WB |
| Total Fisheries Production (metric tonnes) | 1.4M | 2023 | ▼ 17.6% | WB |
| Fertilizer Consumption (kg per hectare) | 97.3 | 2023 | ▼ 22.8% | WB |
| Prevalence of Undernourishment (%) | 2.5% | 2023 | ▲ 0.0% | WB |
| Agricultural Irrigated Land (%) | 0.0% | 2023 | ▲ 14.3% | WB |
| Annual Freshwater Withdrawals (% of internal) | 0.2% | 2022 | ▲ 0.0% | WB |
| Cereal Production (metric tons) | 7,679 | 2023 | ▼ 13.7% | WB |
▶Technology13 indicators · 2021–2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Internet Users (%) | 99.8% | 2023 | ▲ 0.0% | WB |
| Mobile Subscriptions (per 100 people) | 123 | 2023 | ▲ 2.7% | WB |
| Fixed Broadband Subscriptions (per 100) | 37.4 | 2023 | ▲ 0.0% | WB |
| Secure Internet Servers (per million) | 88,084 | 2024 | ▲ 1.1% | WB |
| R&D Spending (% of GDP) | 2.60% | 2022 | ▼ 6.4% | WB |
| Patent Applications, Residents | 34 | 2021 | ▼ 22.7% | WB |
| Patent Applications, Non-Residents | 2 | 2021 | ▼ 33.3% | WB |
| Scientific Journal Articles | 766 | 2022 | ▲ 1.9% | WB |
| High-Technology Exports (USD) | $689.3M | 2024 | ▲ 51.9% | WB |
| ICT Service Exports (% of service exports) | 7.5% | 2024 | ▼ 1.4% | WB |
| ICT Service Exports (USD) | $532.0M | 2024 | ▼ 2.0% | WB |
| Industrial Design Applications, Resident | 7 | 2021 | — | WB |
| Researchers in R&D (per million) | 6,864 | 2022 | ▼ 1.1% | WB |
▶Infrastructure6 indicators · 2021–2023 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Air Transport, Passengers Carried | 4.3M | 2023 | ▲ 17.0% | WB |
| Air Transport, Freight (million ton-km) | 191.9 | 2023 | ▲ 30.2% | WB |
| Container Port Traffic (TEU) | 390,000 | 2021 | ▲ 21.9% | WB |
| Logistics Performance Index (1–5) | 3.60 | 2022 | — | WB |
| Electricity from Oil (%) | 0.0% | 2023 | ▲ 98.8% | WB |
| Electricity from Nuclear (%) | 0.0% | 2021 | — | WB |
▶Gender8 indicators · 2017–2025 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Women in Parliament (%) | 46.0% | 2024 | ▼ 3.3% | WB |
| Female Labor Force Participation, 15+ (%) | 71.3% | 2024 | ▲ 1.2% | WB |
| Female Wage & Salaried Workers (%) | 91.3% | 2025 | ▼ 0.0% | WB |
| Girls Out-of-School Rate (%) | 102.5% | 2017 | — | WB |
| Adolescent Fertility Rate (per 1,000) | 3.4 | 2023 | ▼ 4.2% | WB |
| Gender Parity Index, Primary | 101.65 | 2017 | — | WB |
| Gender Parity Index, Secondary | 0.96 | 2020 | — | WB |
| Gender Parity in Primary Education | 1.01 | 2020 | — | WB |
▶Governance10 indicators · 2023 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Control of Corruption | 1.55 | 2023 | ▼ 1.0% | WB |
| Government Effectiveness | 1.56 | 2023 | ▼ 0.5% | WB |
| Political Stability | 1.21 | 2023 | ▼ 2.8% | WB |
| Regulatory Quality | 1.28 | 2023 | ▼ 1.7% | WB |
| Rule of Law | 1.72 | 2023 | ▲ 1.1% | WB |
| Voice & Accountability | 1.45 | 2023 | ▲ 1.3% | WB |
| Control of Corruption (percentile rank) | 92.0% | 2023 | ▲ 0.5% | WB |
| Government Effectiveness (percentile rank) | 93.4% | 2023 | ▼ 0.5% | WB |
| Rule of Law (percentile rank) | 96.7% | 2023 | ▲ 1.5% | WB |
| Political Stability (percentile rank) | 95.3% | 2023 | ▼ 0.0% | WB |
▶Military4 indicators · 2020–2024 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Military Expenditure (USD) | $0 | 2024 | — | WB |
| Armed Forces Personnel | 0 | 2020 | — | WB |
| Armed Forces (% of labor force) | 0.0% | 2020 | — | WB |
| Intentional Homicides (per 100,000) | 1.3 | 2023 | ▲ 22.7% | WB |
▶Social Protection4 indicators · 2020 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Human Capital Index (0–1) | 0.75 | 2020 | — | WB |
| Human Capital Index, Female | 0.77 | 2020 | — | WB |
| Human Capital Index, Male | 0.72 | 2020 | — | WB |
| Learning-Adjusted Years of School | 10.7 years | 2020 | — | WB |
▶Tourism2 indicators · 2020 · WB
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| International Tourism, Arrivals | 488,000 | 2020 | — | WB |
| International Tourism, Departures | 130,000 | 2020 | — | WB |
▶Urban Development4 indicators · 2022–2024 · WB / WHO
| Indicator | Value | Year | Δ YoY | Src |
|---|---|---|---|---|
| Urban Population Growth (%) | 0.3% | 2024 | ▼ 72.9% | WB |
| Population in Slums (% of urban) | 0.0% | 2022 | — | WB |
| Rural Population Growth (%) | -0.3% | 2024 | ▼ 121.1% | WB |
| Access to Safely Managed Drinking Water (%) | 100.0% | 2024 | ▲ 0.0% | WHO |
