Gross value added at basic prices (GVA) in Iceland
Iceland: Gross value added at basic prices (GVA) was 4.46 trillion current LCU in 2025. ◆ Volatile
Gross value added at basic prices (GVA) in Iceland, 1973–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
The most recent figure for gross value added at basic prices (gva) in Iceland is 4.46 trillion current LCU, measured in 2025. That is the highest value across all 53 years on record.
The figure is up 9.4% on the previous year and up 112.5% over ten years.
Over the whole period, gross value added at basic prices (gva) in Iceland peaked at 4.46 trillion current LCU in 2025 and was at its lowest, 953.34 million current LCU, in 1973.
That places Iceland 71st out of 206 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.62 billion current LCU | 953.34 million current LCU | 8.80 billion current LCU | 7 |
| 1980s | 120.44 billion current LCU | 14.23 billion current LCU | 290.61 billion current LCU | 10 |
| 1990s | 429.34 billion current LCU | 340.00 billion current LCU | 565.50 billion current LCU | 10 |
| 2000s | 984.29 billion current LCU | 623.05 billion current LCU | 1.48 trillion current LCU | 10 |
| 2010s | 2.06 trillion current LCU | 1.54 trillion current LCU | 2.76 trillion current LCU | 10 |
| 2020s | 3.61 trillion current LCU | 2.69 trillion current LCU | 4.46 trillion current 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 4.46 trillion current LCU in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross value added at basic prices (gva) recorded in Iceland?
- The highest recorded value was 4.46 trillion current LCU in 2025.
- What is the lowest gross value added at basic prices (gva) recorded in Iceland?
- The lowest recorded value was 953.34 million current LCU in 1973.
- How does Iceland rank for gross value added at basic prices (gva)?
- Iceland ranks 71st out of 206 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 112.5%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross value added at basic prices (GVA) (current LCU). Statizoid updates them automatically from the source API.
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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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.