Real GDP Growth: Iceland
Iceland's real gdp growth is currently 2.3% as of 2026. # Iceland Real GDP Growth Iceland's real GDP growth stood at 2.
Current (2026)
2.3%
+64.3% y/y
Peak (2022)
8.8%
Low (2009)
-8.3%
Source
IMF World Economic Outlook
1980–2026 · 51 pts
Real GDP Growth — Iceland
1980 — 2026
Real GDP Growth — Iceland
Analysis# Iceland Real GDP Growth
Iceland's real GDP growth stood at 2.3% in 2026, reflecting moderate expansion after recent volatility. The nation has experienced dramatic swings across its 50-year data history, reaching an all-time peak of 8.8% in 2022 while plummeting to -8.3% during the 2009 financial crisis. Since 1980, Iceland's cumulative growth trajectory has declined 59.6%, indicating substantial structural shifts in the economy over five decades.
The 2020–2022 period captures Iceland's most volatile recent cycle: a sharp contraction of -6.6% during the pandemic gave way to exceptional recovery, posting 5.2% growth in 2021 and 8.8% in 2022. A subsequent downturn in 2024 (-1.0%) interrupted momentum before stabilization resumed. Current projections suggest Iceland's growth will gradually strengthen, with 2026's 2.3% rate positioning the economy on an upward trajectory through the forecast period.
Historical Data
51 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 2.4% | +0.00% |
| 2029 | 2.4% | +0.00% |
| 2028 | 2.4% | +0.00% |
| 2027 | 2.4% | +4.35% |
| 2026 | 2.3% | +64.29% |
| 2025 | 1.4% | +240.00% |
| 2024 | -1.0% | -119.23% |
| 2023 | 5.2% | -40.91% |
| 2022 | 8.8% | +69.23% |
| 2021 | 5.2% | +178.79% |
| 2020 | -6.6% | -700.00% |
| 2019 | 1.1% | -76.60% |
| 2018 | 4.7% | +34.29% |
| 2017 | 3.5% | -43.55% |
| 2016 | 6.2% | +63.16% |
| 2015 | 3.8% | +100.00% |
| 2014 | 1.9% | -47.22% |
| 2013 | 3.6% | +200.00% |
| 2012 | 1.2% | -14.29% |
| 2011 | 1.4% | +163.64% |
Show all 51 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | -2.2% | +73.49% |
| 2009 | -8.3% | -588.24% |
| 2008 | 1.7% | -80.46% |
| 2007 | 8.7% | +52.63% |
| 2006 | 5.7% | -18.57% |
| 2005 | 7.0% | -7.89% |
| 2004 | 7.6% | +230.43% |
| 2003 | 2.3% | +360.00% |
| 2002 | 0.5% | -86.84% |
| 2001 | 3.8% | -22.45% |
| 2000 | 4.9% | +25.64% |
| 1999 | 3.9% | -44.29% |
| 1998 | 7.0% | +70.73% |
| 1997 | 4.1% | -8.89% |
| 1996 | 4.5% | +4400.00% |
| 1995 | 0.1% | -97.22% |
| 1994 | 3.6% | +176.92% |
| 1993 | 1.3% | +138.24% |
| 1992 | -3.4% | -1600.00% |
| 1991 | -0.2% | -116.67% |
| 1990 | 1.2% | +300.00% |
| 1989 | 0.3% | +400.00% |
| 1988 | -0.1% | -101.18% |
| 1987 | 8.5% | +34.92% |
| 1986 | 6.3% | +90.91% |
| 1985 | 3.3% | -19.51% |
| 1984 | 4.1% | +286.36% |
| 1983 | -2.2% | -200.00% |
| 1982 | 2.2% | -48.84% |
| 1981 | 4.3% | -24.56% |
| 1980 | 5.7% | — |
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