Iceland: GDP, constant dollars

* indicates monthly or quarterly data series

Gross Domestic Product, billions of 2010 U.S. dollars

 Latest value 21.3
 Year 2022
 Measure billion U.S. dollars
 Data availability 1995 - 2022
 Average 15.4
 Min - Max 9.1 - 21.3
 Source The World Bank
For that indicator, we provide data for Iceland from 1995 to 2022. The average value for Iceland during that period was 15.4 billion U.S. dollars with a minimum of 9.1 billion U.S. dollars in 1995 and a maximum of 21.3 billion U.S. dollars in 2022. The latest value from 2022 is 21.3 billion U.S. dollars. For comparison, the world average in 2022 based on 178 countries is 496.6 billion U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Iceland - GDP, constant dollars - recent values

Historical chart
Iceland - GDP, constant dollars - historical chart - 1995-2022

The GDP of Iceland and other countries is a measure of the size of the economy. It is the total market value of all goods and services produced on the territory of a country during a period of time, for example, during one year. We show GDP in constant dollars. In other words, we present the production levels of different years but evaluated using the prices of only one year. The objective is to compare the level of production across years, holding constant any price changes.
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2015 prices, expressed in U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 2015 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

 Related indicators Latest value Reference Measure
 Economic growth 6.44 2022 percent
 GDP, constant dollars 21.3 2022 billion U.S. dollars
 GDP, current U.S. dollars 27.84 2022 billion U.S. dollars
 GDP per capita, current dollars 72,902.98 2022 U.S. dollars
 GDP per capita, PPP 55,033 2022 U.S. dollars
 GDP per capita, constant dollars 55,886.84 2022 U.S. dollars
 Economic growth, quarterly 1.10 Q3/2023 percent
 Economic growth Q-on-Q -3.80 Q3/2023 percent
 Gross Domestic Product (GDP) 1,080.31 Q3/2023 billion
 Productivity, relative to the U.S. 98.52 2022 index points
 Productivity, current USD 90.1 2022 USD per hour worked
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