Iceland
- Capital
- Reykjavik
- Region
- Europe & Central Asia
- Income group
- High income
- Population
- 392,000 (2025)
At a glance
- Prices in Iceland rose 4.1% in 2025, faster than in most countries.
- Iceland's economy grew 1.3% in 2025, slower than most economies.
- Output per person in Iceland was US$98,323 in 2025, higher than in most countries.
- 3.6% of Iceland's labour force had no job in 2025, a lower share than in most countries.
- Iceland's central government owed 80.1% of GDP in 2023, more than in most countries with data.
- Iceland had 392,000 people in 2025: about less than 0.1% of everyone on Earth, the 176th largest population of 217 countries and territories.
- Iceland had a current account deficit of 3.9% of GDP in 2025, lower than in most countries.
Inflation
2025Consumer prices, change over the year (yearly average)
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2025 | 4.1% | 3.0% |
| 2024 | 5.9% | 3.0% |
| 2023 | 8.7% | 5.7% |
| 2022 | 8.3% | 8.0% |
| 2021 | 4.4% | 3.5% |
| 2020 | 2.9% | 1.9% |
| 2019 | 3.0% | 2.2% |
| 2018 | 2.7% | 2.5% |
| 2017 | 1.8% | 2.3% |
| 2016 | 1.7% | 1.6% |
Economic growth
2025Real GDP, change over the year
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2025 | 1.3% | 3.4% |
| 2024 | −1.3% | 3.4% |
| 2023 | 5.0% | 3.2% |
| 2022 | 8.9% | 4.3% |
| 2021 | 5.2% | 5.1% |
| 2020 | −6.7% | −3.8% |
| 2019 | 1.1% | 2.8% |
| 2018 | 4.7% | 3.2% |
| 2017 | 3.5% | 3.3% |
| 2016 | 6.2% | 3.1% |
GDP per person
2025GDP divided by population, in US dollars at current prices
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2025 | US$98,323 | US$7,882 |
| 2024 | US$85,863 | US$7,853 |
| 2023 | US$82,201 | US$7,862 |
| 2022 | US$76,377 | US$7,656 |
| 2021 | US$70,425 | US$7,269 |
| 2020 | US$60,128 | US$6,433 |
| 2019 | US$69,296 | US$7,037 |
| 2018 | US$75,634 | US$6,978 |
| 2017 | US$72,976 | US$6,548 |
| 2016 | US$62,854 | US$5,982 |
Unemployment
2025Share of the labour force without a job (ILO modelled estimate)
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2025 | 3.6% | 5.1% |
| 2024 | 3.6% | 5.1% |
| 2023 | 3.5% | 5.2% |
| 2022 | 3.8% | 5.3% |
| 2021 | 6.0% | 6.0% |
| 2020 | 5.5% | 6.4% |
| 2019 | 3.5% | 5.4% |
| 2018 | 2.7% | 5.4% |
| 2017 | 2.7% | 5.6% |
| 2016 | 3.0% | 5.9% |
Government debt
2023Central government debt, % of GDP
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2023 | 80.1% | 60.7% |
| 2022 | 85.1% | 55.6% |
| 2021 | 94.3% | 58.8% |
| 2020 | 98.5% | 64.3% |
| 2019 | 89.0% | 49.2% |
| 2018 | 80.7% | 47.3% |
| 2017 | 89.3% | 51.2% |
| 2016 | 101.9% | 50.2% |
| 2015 | 116.2% | 49.4% |
| 2014 | 134.4% | 46.8% |
Population
2025Everyone living in the country, mid-year
Since 2000
Show the numbers
| Year | Iceland |
|---|---|
| 2025 | 392,000 |
| 2024 | 387,000 |
| 2023 | 386,000 |
| 2022 | 382,000 |
| 2021 | 373,000 |
| 2020 | 366,000 |
| 2019 | 361,000 |
| 2018 | 353,000 |
| 2017 | 343,000 |
| 2016 | 335,000 |
Current account balance, % of GDP
Since 2000
Show the numbers
| Year | Iceland | World median |
|---|---|---|
| 2025 | −3.9% | −0.8% |
| 2024 | −3.4% | −1.3% |
| 2023 | −1.4% | −1.2% |
| 2022 | −1.9% | −3.0% |
| 2021 | −2.6% | −2.4% |
| 2020 | 1.9% | −1.7% |
| 2019 | 7.4% | −2.1% |
| 2018 | 4.4% | −2.9% |
| 2017 | 4.9% | −2.1% |
| 2016 | 9.1% | −2.8% |
About these figures
All numbers are yearly. The world median is the middle value of all countries with a figure for the same year: half of them are above it and half below. Sparklines show Iceland since 2000 or since its first figure.
Source: World Bank, World Development Indicators (CC BY 4.0), updated 2026-10-08. Original sources: Inflation: International Monetary Fund, International Financial Statistics; Economic growth: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; GDP per person: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; Unemployment: International Labour Organization, ILO modelled estimates (ILOSTAT); Government debt: International Monetary Fund, Government Finance Statistics; Population: United Nations Population Division (World Population Prospects) and national statistical offices; Current account balance: International Monetary Fund, Balance of Payments Statistics, with World Bank and OECD data. Yearly figures; recent years are often revised. All sources and terms.