Iceland: Savings, percent of GDP
* indicates monthly or quarterly data series
| Iceland |
Savings as percent of GDP |
|---|---|
| Latest value | 25.35 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1976 - 2023 |
| Average | 19.52 |
| Min - Max | 5.24 - 29.18 |
| Source | The World Bank |
The latest value from 2023 is 25.35 percent, an increase from 22.6 percent in 2022. In comparison, the world average is 23.44 percent, based on data from 96 countries. Historically, the average for Iceland from 1976 to 2023 is 19.52 percent. The minimum value, 5.24 percent, was reached in 2008 while the maximum of 29.18 percent was recorded in 2016.
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* indicates monthly or quarterly data series
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The savings in Iceland and other countries is calculated as the difference between income and consumption, expressed as percent of GDP.
Definition: Gross savings are calculated as gross national income less total consumption, plus net transfers.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Share of industry | 19.40 | 2024 | percent |
| Share of manufacturing | 7.61 | 2024 | percent |
| Share of services | 65.54 | 2024 | percent |
| Industry value added | 6.60 | 2023 | billion U.S. dollars |
| Manufacturing value added | 2.99 | 2023 | billion U.S. dollars |
| Services value added | 20.25 | 2023 | billion U.S. dollars |
| Savings, percent of GDP | 25.35 | 2023 | percent |
| Savings, in dollars | 8.15 | 2023 | billion U.S. dollars |