Gross value added at basic prices (GVA) in Iceland
Iceland: Gross value added at basic prices (GVA) was 3.24 trillion constant LCU in 2025. ▲ Rising
Gross value added at basic prices (GVA) in Iceland, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
In 2025, gross value added at basic prices (gva) in Iceland stood at 3.24 trillion constant LCU.
The figure is up 1.3% on the previous year and up 30.6% over ten years.
Over the whole period, gross value added at basic prices (gva) in Iceland peaked at 3.24 trillion constant LCU in 2023 and was at its lowest, 1.35 trillion constant LCU, in 1995.
That places Iceland 62nd out of 197 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.48 trillion constant LCU | 1.35 trillion constant LCU | 1.63 trillion constant LCU | 5 |
| 2000s | 2.05 trillion constant LCU | 1.71 trillion constant LCU | 2.46 trillion constant LCU | 10 |
| 2010s | 2.50 trillion constant LCU | 2.20 trillion constant LCU | 2.88 trillion constant LCU | 10 |
| 2020s | 3.04 trillion constant LCU | 2.69 trillion constant LCU | 3.24 trillion constant LCU | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- DEC alternative conversion factor 128.44 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -52.84 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) -383.05 million current US$ (2024)
- Taxes less subsidies on products 498.69 billion current LCU (2025)
- Taxes less subsidies on products 3.88 billion current US$ (2025)
- Net primary income (Net income from abroad) -40.83 billion current LCU (2024)
- Net primary income (Net income from abroad) -295.94 million current US$ (2024)
- GNI per capita 12.60 million current LCU (2025)
- GNI per capita, Atlas method 89,220 current US$ (2025)
- GNI 4.94 trillion current LCU (2025)
Frequently asked questions
- What is gross value added at basic prices (gva) in Iceland?
- Gross value added at basic prices (gva) in Iceland was 3.24 trillion constant LCU in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross value added at basic prices (gva) recorded in Iceland?
- The highest recorded value was 3.24 trillion constant LCU in 2023.
- What is the lowest gross value added at basic prices (gva) recorded in Iceland?
- The lowest recorded value was 1.35 trillion constant LCU in 1995.
- How does Iceland rank for gross value added at basic prices (gva)?
- Iceland ranks 62nd out of 197 countries with data for 2025.
- Is gross value added at basic prices (gva) rising or falling in Iceland?
- Over the last ten years it is up 30.6%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross value added at basic prices (GVA) (constant LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.