National Debt (% of GDP): Iceland
Iceland's national debt (% of gdp) is currently 44.9% as of 2026. # Iceland National Debt (% of GDP) Iceland's national debt stands at 44.
Current (2026)
44.9%
-5.3% y/y
Peak (2011)
136.6%
Low (1987)
27.3%
Source
IMF World Economic Outlook
1982–2026 · 49 pts
National Debt (% of GDP) — Iceland
1982 — 2026
National Debt (% of GDP) — Iceland
Analysis# Iceland National Debt (% of GDP)
Iceland's national debt stands at 44.9% of GDP in 2026, representing a dramatic recovery from its catastrophic peak of 136.6% in 2011. The metric has increased 55.4 percentage points since 1982, when it was 27.3%, yet remains well below the historic high reached during the financial crisis aftermath. The current level reflects steady consolidation over the past decade.
The turning point arrived around 2017, when Iceland began aggressive debt reduction from 70.8% of GDP. The downward momentum accelerated sharply between 2024 and 2026, falling from 59.4% to 44.9%—a remarkable five-year decline. Projections suggest continued improvement, positioning Iceland's debt burden near levels not seen since the 1990s. This trajectory indicates successful fiscal management following the nation's recovery from the 2008 banking collapse.
Historical Data
49 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 37.8% | -4.30% |
| 2029 | 39.5% | -4.13% |
| 2028 | 41.2% | -4.19% |
| 2027 | 43.0% | -4.23% |
| 2026 | 44.9% | -5.27% |
| 2025 | 47.4% | -20.20% |
| 2024 | 59.4% | -3.41% |
| 2023 | 61.5% | -7.38% |
| 2022 | 66.4% | -9.78% |
| 2021 | 73.6% | -3.29% |
| 2020 | 76.1% | +15.83% |
| 2019 | 65.7% | +5.46% |
| 2018 | 62.3% | -12.01% |
| 2017 | 70.8% | -12.92% |
| 2016 | 81.3% | -15.58% |
| 2015 | 96.3% | -15.60% |
| 2014 | 114.1% | -5.78% |
| 2013 | 121.1% | -8.40% |
| 2012 | 132.2% | -3.22% |
| 2011 | 136.6% | +3.88% |
Show all 49 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 131.5% | +2.57% |
| 2009 | 128.2% | +17.29% |
| 2008 | 109.3% | +62.17% |
| 2007 | 67.4% | -3.44% |
| 2006 | 69.8% | +2.95% |
| 2005 | 67.8% | -15.36% |
| 2004 | 80.1% | -4.76% |
| 2003 | 84.1% | +3.44% |
| 2002 | 81.3% | -1.45% |
| 2001 | 82.5% | +10.29% |
| 2000 | 74.8% | -0.93% |
| 1999 | 75.5% | +74.36% |
| 1998 | 43.3% | -15.26% |
| 1997 | 51.1% | -8.09% |
| 1996 | 55.6% | -4.30% |
| 1995 | 58.1% | +6.02% |
| 1994 | 54.8% | +4.78% |
| 1993 | 52.3% | +15.20% |
| 1992 | 45.4% | +20.74% |
| 1991 | 37.6% | +5.92% |
| 1990 | 35.5% | +0.57% |
| 1989 | 35.3% | +15.36% |
| 1988 | 30.6% | +12.09% |
| 1987 | 27.3% | -8.70% |
| 1986 | 29.9% | -6.56% |
| 1985 | 32.0% | -1.23% |
| 1984 | 32.4% | +5.19% |
| 1983 | 30.8% | +6.57% |
| 1982 | 28.9% | — |
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