Iceland: economy and key statistics
Iceland is number 106 in the 311 Nations Index, with a GDP of $38.6 billion in 2025. GDP per person is $98,323. The economy grew by 1.3% in 2025. Unemployment is 3.6%. The economy is 66% services, 20% industry, 4% agriculture. In 311 Institute directories: 5 R&D labs, 4 startups, 1 investors.
Part of the 311 Nations Index (311institute.com). Last updated .
National power
Iceland is number 120 in the 311 National Power Index, scoring 27.9 out of 100: economic 50, technology 21, military 0 and human capital 45.
Economy at a glance
| Indicator | Latest figure | Year |
|---|---|---|
| GDP | $38.6 billion | 2025 |
| GDP (purchasing power) | $32.7 billion | 2025 |
| GDP per person | $98,323 | 2025 |
| Economic growth | +1.3% | 2025 |
| Inflation | 4.1% | 2025 |
| Unemployment | 3.6% | 2025 |
| Population | 0.4 million | 2025 |
| Labour force | 0.2 million | 2025 |
| Services share of GDP | 66% | 2025 |
| Industry share of GDP | 20% | 2025 |
| Manufacturing share of GDP | 9% | 2025 |
| Agriculture share of GDP | 4% | 2025 |
| Exports share of GDP | 40% | 2025 |
| Foreign direct investment | -0.5% of GDP | 2025 |
| High-tech share of manufactured exports | 54% | 2024 |
| R&D spending | 2.64% of GDP | 2023 |
| Internet users | 98% of people | 2024 |
Startups in Iceland
Investors in Iceland
Main export industries
Iceland exported goods worth about $6.9bn in 2024. Its biggest export industries:
- Fish and crustaceans, molluscs and other aquatic invertebrates: $2.4bn (34.2% of goods exports)
- Aluminium and articles thereof: $2.3bn (33.5% of goods exports)
- Optical, photographic, cinematographic, measuring, checking, medical or surgical instruments and apparatus: $0.5bn (6.8% of goods exports)
- Animal, vegetable or microbial fats and oils and their cleavage products: $0.3bn (3.7% of goods exports)
- Food industries, residues and wastes thereof: $0.2bn (3.2% of goods exports)
Source: UN Comtrade, goods only (services exports are not included).
Other economies in Europe
- Germany (#3)
- United Kingdom (#5)
- France (#7)
- Russia (#8)
- Italy (#9)
- Spain (#12)
- Türkiye (#16)
- Netherlands (#18)
- Switzerland (#20)
- Poland (#21)
- Belgium (#22)
- Ireland (#23)
- Sweden (#25)
- Austria (#28)
- Norway (#31)
Questions and answers
How big is the economy of Iceland?
Iceland had a GDP of $38.6 billion in 2025, ranking number 106 in the 311 Nations Index.
What is GDP per person in Iceland?
GDP per person in Iceland was $98,323 in 2025.
How fast is the economy of Iceland growing?
The economy of Iceland grew by 1.3% in 2025.
Source: World Bank, World Development Indicators (CC BY 4.0).
© 311 Institute 2026. Facts from Wikidata (CC0) and the sources linked on this page. The selection, classification and links are the proprietary work of the 311 Institute, protected by copyright and database rights.