| Source | World Bank : Nominal (current), Nominal (constant), PPP (current), PPP (constant) |
| IMF World Economic Outlook (April 2024) | |
| Date | 07 May 2024 |
According to the IMF World Economic Outlook (April 2024), Iceland's nominal GDP in 2024 is projected to be around $33 billion at current prices. Based on PPP, Iceland's GDP in 2024 is forecast at 29 billion international dollars.
Iceland has the 33rd largest economy by GDP (nominal) and 39th by GDP (PPP) in Europe, the 108th largest by nominal GDP in the world, and 150th by GDP (PPP).
| Year | GDP (billions of $/Int. $) | |
|---|---|---|
| Nominal | PPP | |
| 2023 | 31.02 | 27.91 |
| 2024 | 33.34 | 29.08 |
| 2025 | 35.80 | 30.18 |
| 2026 | 38.56 | 31.42 |
| 2027 | 41.60 | 32.76 |
| 2028 | 44.92 | 34.23 |
| 2029 | 48.48 | 35.74 |
| Year | GDP Nominal (billions of $) | GDP PPP (billions Int. $) | Share (%) to World | Rank/Total | ||||
|---|---|---|---|---|---|---|---|---|
| Current | Constant (2015) | Current | Constant (2017) | Nominal | PPP | Nominal | PPP | |
| 1960 | 0.25 | - | - | - | 0.0181 | - | 75/96 | - |
| 1961 | 0.25 | - | - | - | 0.0173 | - | 75/97 | - |
| 1962 | 0.28 | - | - | - | 0.0181 | - | 74/98 | - |
| 1963 | 0.34 | - | - | - | 0.0204 | - | 74/98 | - |
| 1964 | 0.43 | - | - | - | 0.0235 | - | 70/98 | - |
| 1965 | 0.52 | - | - | - | 0.0261 | - | 73/108 | - |
| 1966 | 0.63 | - | - | - | 0.0291 | - | 74/110 | - |
| 1967 | 0.62 | - | - | - | 0.0269 | - | 75/113 | - |
| 1968 | 0.47 | - | - | - | 0.0189 | - | 81/115 | - |
| 1969 | 0.41 | - | - | - | 0.0149 | - | 84/115 | - |
| 1970 | 0.53 | - | - | - | 0.0176 | - | 81/121 | - |
| 1971 | 0.67 | - | - | - | 0.0202 | - | 79/123 | - |
| 1972 | 0.84 | - | - | - | 0.0219 | - | 75/123 | - |
| 1973 | 1.15 | - | - | - | 0.0247 | - | 74/123 | - |
| 1974 | 1.52 | - | - | - | 0.0285 | - | 76/124 | - |
| 1975 | 1.41 | - | - | - | 0.0236 | - | 79/126 | - |
| 1976 | 1.67 | - | - | - | 0.0258 | - | 79/127 | - |
| 1977 | 2.21 | - | - | - | 0.0302 | - | 77/130 | - |
| 1978 | 2.51 | - | - | - | 0.0287 | - | 78/129 | - |
| 1979 | 2.85 | - | - | - | 0.0280 | - | 78/130 | - |
| 1980 | 3.38 | - | - | - | 0.0294 | - | 82/142 | - |
| 1981 | 3.49 | - | - | - | 0.0294 | - | 80/145 | - |
| 1982 | 3.21 | - | - | - | 0.0275 | - | 84/147 | - |
| 1983 | 2.77 | - | - | - | 0.0231 | - | 86/149 | - |
| 1984 | 2.86 | - | - | - | 0.0230 | - | 86/151 | - |
| 1985 | 2.98 | - | - | - | 0.0230 | - | 87/153 | - |
| 1986 | 3.99 | - | - | - | 0.0260 | - | 80/155 | - |
| 1987 | 5.52 | - | - | - | 0.0315 | - | 78/159 | - |
| 1988 | 6.11 | - | - | - | 0.0311 | - | 76/163 | - |
| 1989 | 5.67 | - | - | - | 0.0277 | - | 78/164 | - |
| 1990 | 6.47 | - | - | - | 0.0282 | - | 86/178 | - |
| 1991 | 6.91 | - | - | - | 0.0289 | - | 84/177 | - |
| 1992 | 7.08 | - | - | - | 0.0276 | - | 85/180 | - |
| 1993 | 6.22 | - | - | - | 0.0237 | - | 89/182 | - |
| 1994 | 6.39 | - | - | - | 0.0228 | - | 88/184 | - |
| 1995 | 7.12 | 9.14 | 6.40 | 9.00 | 0.0228 | 0.0170 | 93/193 | 134/180 |
| 1996 | 7.43 | 9.56 | 6.66 | 9.42 | 0.0233 | 0.0167 | 93/193 | 136/180 |
| 1997 | 7.57 | 10.11 | 7.28 | 9.96 | 0.0238 | 0.0172 | 97/193 | 136/181 |
| 1998 | 8.50 | 10.86 | 7.87 | 10.69 | 0.0268 | 0.0180 | 93/194 | 136/181 |
| 1999 | 8.98 | 11.30 | 8.20 | 11.12 | 0.0274 | 0.0179 | 91/195 | 138/182 |
| 2000 | 9.03 | 11.86 | 8.38 | 11.68 | 0.0266 | 0.0170 | 94/199 | 138/188 |
| 2001 | 8.23 | 12.34 | 9.09 | 12.15 | 0.0244 | 0.0176 | 100/201 | 139/189 |
| 2002 | 9.32 | 12.40 | 9.38 | 12.22 | 0.0266 | 0.0173 | 97/206 | 141/190 |
| 2003 | 11.43 | 12.67 | 9.47 | 12.48 | 0.0291 | 0.0166 | 93/206 | 141/190 |
| 2004 | 13.83 | 13.66 | 10.40 | 13.45 | 0.0313 | 0.0168 | 91/206 | 143/191 |
| 2005 | 16.85 | 14.50 | 11.07 | 14.27 | 0.0352 | 0.0166 | 90/206 | 144/191 |
| 2006 | 17.47 | 15.41 | 12.06 | 15.18 | 0.0337 | 0.0165 | 96/207 | 144/192 |
| 2007 | 21.65 | 16.71 | 12.92 | 16.46 | 0.0370 | 0.0164 | 95/207 | 144/192 |
| 2008 | 18.07 | 17.08 | 13.88 | 16.82 | 0.0281 | 0.0166 | 107/208 | 144/194 |
| 2009 | 13.15 | 15.77 | 13.33 | 15.53 | 0.0216 | 0.0158 | 113/208 | 146/195 |
| 2010 | 13.75 | 15.33 | 12.65 | 15.09 | 0.0206 | 0.0141 | 118/209 | 148/195 |
| 2011 | 15.22 | 15.61 | 13.06 | 15.37 | 0.0206 | 0.0136 | 119/212 | 148/196 |
| 2012 | 14.75 | 15.78 | 13.47 | 15.54 | 0.0195 | 0.0134 | 123/210 | 147/194 |
| 2013 | 16.13 | 16.49 | 14.38 | 16.24 | 0.0208 | 0.0136 | 123/211 | 147/196 |
| 2014 | 17.87 | 16.77 | 15.06 | 16.52 | 0.0224 | 0.0137 | 120/212 | 147/195 |
| 2015 | 17.52 | 17.52 | 16.28 | 17.25 | 0.0233 | 0.0146 | 114/210 | 147/195 |
| 2016 | 20.79 | 18.62 | 17.94 | 18.34 | 0.0272 | 0.0154 | 109/210 | 146/194 |
| 2017 | 24.73 | 19.40 | 19.11 | 19.11 | 0.0303 | 0.0156 | 106/210 | 146/194 |
| 2018 | 26.26 | 20.35 | 20.17 | 20.04 | 0.0303 | 0.0155 | 105/210 | 146/194 |
| 2019 | 24.68 | 20.73 | 21.82 | 20.41 | 0.0281 | 0.0159 | 108/210 | 146/194 |
| 2020 | 21.57 | 19.23 | 20.39 | 18.94 | 0.0253 | 0.0150 | 109/209 | 145/193 |
| 2021 | 25.60 | 20.10 | 22.90 | 19.79 | 0.0264 | 0.0152 | 108/207 | 146/193 |
| 2022 | 28.06 | 21.56 | 27.44 | 21.23 | 0.0278 | 0.0165 | 107/194 | 143/186 |