Iceland: GDP, current U.S. dollars
* indicates monthly or quarterly data series
Iceland |
Gross Domestic Product, billions of U.S. dollars |
---|---|
Latest value | 31.02 |
Year | 2023 |
Measure | billion U.S. dollars |
Data availability | 1960 - 2023 |
Average | 8.91 |
Min - Max | 0.25 - 31.02 |
Source | The World Bank |
The latest value from 2023 is 31.02 billion U.S. dollars, an increase from 28.7 billion U.S. dollars in 2022. In comparison, the world average is 579.57 billion U.S. dollars, based on data from 179 countries. Historically, the average for Iceland from 1960 to 2023 is 8.91 billion U.S. dollars. The minimum value, 0.25 billion U.S. dollars, was reached in 1960 while the maximum of 31.02 billion U.S. dollars was recorded in 2023.
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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 current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year 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.
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What factors determine the exchange rates
International lending and sovereign debt
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Economic growth | 4.06 | 2023 | percent |
GDP, constant dollars | 23.0 | 2023 | billion U.S. dollars |
GDP, current U.S. dollars | 31.02 | 2023 | billion U.S. dollars |
GDP per capita, current dollars | 78,811.05 | 2023 | U.S. dollars |
GDP per capita, PPP | 66,451 | 2023 | U.S. dollars |
GDP per capita, constant dollars | 58,393.18 | 2023 | U.S. dollars |
Productivity, relative to the U.S. | 98.52 | 2022 | index points |
Productivity, current USD | 90.1 | 2022 | USD per hour worked |
Economic growth, quarterly | -0.30 | Q2/2024 | percent |
Economic growth Q-on-Q | 1.70 | Q2/2024 | percent |
Gross Domestic Product (GDP) | 1,126.94 | Q2/2024 | billion |