| Source | World Bank : Nominal (current), Nominal (constant), PPP (current), PPP (constant) |
| IMF World Economic Outlook (April 2024) | |
| Date | 01 Sep 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 (2021) | Nominal | PPP | Nominal | PPP | |
| 1960 | 0.25 | 2.37 | - | - | 0.0183 | - | 80/104 | - |
| 1961 | 0.26 | 2.37 | - | - | 0.0181 | - | 81/106 | - |
| 1962 | 0.29 | 2.57 | - | - | 0.0188 | - | 81/108 | - |
| 1963 | 0.35 | 2.83 | - | - | 0.0210 | - | 81/108 | - |
| 1964 | 0.44 | 3.11 | - | - | 0.0241 | - | 76/108 | - |
| 1965 | 0.53 | 3.34 | - | - | 0.0266 | - | 78/116 | - |
| 1966 | 0.64 | 3.63 | - | - | 0.0297 | - | 78/117 | - |
| 1967 | 0.63 | 3.58 | - | - | 0.0275 | - | 79/120 | - |
| 1968 | 0.48 | 3.39 | - | - | 0.0194 | - | 84/121 | - |
| 1969 | 0.42 | 3.47 | - | - | 0.0154 | - | 87/121 | - |
| 1970 | 0.53 | 3.72 | - | - | 0.0177 | - | 88/141 | - |
| 1971 | 0.67 | 4.21 | - | - | 0.0202 | - | 85/142 | - |
| 1972 | 0.84 | 4.47 | - | - | 0.0219 | - | 82/142 | - |
| 1973 | 1.15 | 4.78 | - | - | 0.0247 | - | 81/142 | - |
| 1974 | 1.52 | 5.05 | - | - | 0.0284 | - | 83/142 | - |
| 1975 | 1.41 | 5.08 | - | - | 0.0235 | - | 85/145 | - |
| 1976 | 1.67 | 5.38 | - | - | 0.0257 | - | 85/145 | - |
| 1977 | 2.21 | 5.86 | - | - | 0.0300 | - | 83/148 | - |
| 1978 | 2.51 | 6.21 | - | - | 0.0288 | - | 84/147 | - |
| 1979 | 2.85 | 6.51 | - | - | 0.0282 | - | 84/148 | - |
| 1980 | 3.38 | 6.89 | - | - | 0.0296 | - | 87/155 | - |
| 1981 | 3.49 | 7.18 | - | - | 0.0296 | - | 85/156 | - |
| 1982 | 3.21 | 7.34 | - | - | 0.0276 | - | 88/158 | - |
| 1983 | 2.77 | 7.18 | - | - | 0.0231 | - | 90/159 | - |
| 1984 | 2.86 | 7.47 | - | - | 0.0230 | - | 89/161 | - |
| 1985 | 2.98 | 7.72 | - | - | 0.0229 | - | 90/163 | - |
| 1986 | 3.99 | 8.20 | - | - | 0.0260 | - | 82/163 | - |
| 1987 | 5.52 | 8.91 | - | - | 0.0316 | - | 81/169 | - |
| 1988 | 6.11 | 8.90 | - | - | 0.0313 | - | 79/172 | - |
| 1989 | 5.67 | 8.92 | - | - | 0.0279 | - | 81/173 | - |
| 1990 | 6.47 | 9.03 | 5.60 | 10.27 | 0.0283 | 0.0189 | 89/188 | 132/186 |
| 1991 | 6.91 | 9.01 | 5.78 | 10.25 | 0.0290 | 0.0186 | 87/188 | 135/187 |
| 1992 | 7.08 | 8.70 | 5.71 | 9.90 | 0.0278 | 0.0176 | 87/191 | 135/188 |
| 1993 | 6.22 | 8.82 | 5.92 | 10.03 | 0.0240 | 0.0175 | 93/195 | 135/188 |
| 1994 | 6.39 | 9.13 | 6.26 | 10.39 | 0.0229 | 0.0175 | 93/196 | 135/189 |
| 1995 | 7.12 | 9.14 | 6.40 | 10.41 | 0.0229 | 0.0170 | 94/199 | 135/190 |
| 1996 | 7.43 | 9.56 | 6.66 | 10.88 | 0.0233 | 0.0167 | 94/199 | 137/190 |
| 1997 | 7.57 | 10.11 | 7.28 | 11.51 | 0.0238 | 0.0172 | 97/199 | 137/192 |
| 1998 | 8.50 | 10.86 | 7.87 | 12.36 | 0.0268 | 0.0180 | 93/201 | 138/192 |
| 1999 | 8.98 | 11.30 | 8.20 | 12.86 | 0.0274 | 0.0179 | 91/202 | 139/192 |
| 2000 | 9.03 | 11.86 | 8.38 | 13.50 | 0.0267 | 0.0170 | 94/203 | 139/194 |
| 2001 | 8.23 | 12.34 | 9.09 | 14.04 | 0.0245 | 0.0176 | 100/204 | 140/194 |
| 2002 | 9.32 | 12.40 | 9.38 | 14.12 | 0.0267 | 0.0173 | 97/208 | 141/195 |
| 2003 | 11.43 | 12.67 | 9.47 | 14.42 | 0.0292 | 0.0166 | 93/208 | 141/195 |
| 2004 | 13.83 | 13.66 | 10.40 | 15.54 | 0.0313 | 0.0168 | 91/208 | 143/195 |
| 2005 | 16.85 | 14.50 | 11.07 | 16.50 | 0.0353 | 0.0166 | 90/208 | 144/195 |
| 2006 | 17.47 | 15.41 | 12.06 | 17.54 | 0.0338 | 0.0165 | 96/209 | 143/196 |
| 2007 | 21.65 | 16.71 | 12.92 | 19.02 | 0.0371 | 0.0164 | 95/209 | 143/196 |
| 2008 | 18.07 | 17.08 | 13.88 | 19.44 | 0.0282 | 0.0166 | 107/210 | 144/199 |
| 2009 | 13.15 | 15.77 | 13.33 | 17.95 | 0.0217 | 0.0158 | 113/210 | 145/200 |
| 2010 | 13.75 | 15.33 | 12.65 | 17.44 | 0.0207 | 0.0141 | 118/210 | 147/200 |
| 2011 | 15.22 | 15.61 | 13.06 | 17.76 | 0.0206 | 0.0136 | 120/213 | 147/201 |
| 2012 | 14.75 | 15.78 | 13.47 | 17.95 | 0.0195 | 0.0134 | 123/211 | 146/199 |
| 2013 | 16.13 | 16.49 | 14.38 | 18.77 | 0.0207 | 0.0136 | 123/211 | 146/200 |
| 2014 | 17.87 | 16.77 | 15.06 | 19.09 | 0.0224 | 0.0137 | 121/212 | 145/199 |
| 2015 | 17.52 | 17.52 | 16.28 | 19.93 | 0.0232 | 0.0145 | 114/210 | 145/199 |
| 2016 | 20.79 | 18.62 | 17.94 | 21.19 | 0.0271 | 0.0153 | 109/210 | 146/198 |
| 2017 | 24.73 | 19.40 | 19.11 | 22.08 | 0.0303 | 0.0154 | 106/210 | 147/199 |
| 2018 | 26.26 | 20.35 | 20.17 | 23.16 | 0.0303 | 0.0153 | 105/210 | 147/199 |
| 2019 | 24.68 | 20.73 | 21.82 | 23.59 | 0.0281 | 0.0156 | 108/210 | 147/199 |
| 2020 | 21.63 | 19.29 | 20.45 | 21.95 | 0.0253 | 0.0147 | 109/209 | 146/198 |
| 2021 | 25.80 | 20.28 | 23.08 | 23.08 | 0.0265 | 0.0148 | 108/208 | 146/198 |
| 2022 | 28.70 | 22.09 | 28.07 | 25.13 | 0.0284 | 0.0163 | 107/202 | 145/194 |
| 2023 | 31.02 | 22.98 | 30.53 | 26.16 | 0.0294 | 0.0165 | 104/186 | 141/184 |