Iceland 2020
Detailed economic analysis and indicators for 2020
Key Economic Indicators (2020)
GDP (Current USD)
$21.63 billion
↓ 12.36% vs 2019GDP per Capita
$59,023.57
↓ 13.77% vs 2019GDP Growth (Annual %)
-6.94%
↓ 8.80pp vs 2019Inflation Rate (CPI %)
2.85%
↓ 0.17pp vs 2019Year-over-Year Comparison
| Indicator | 2019 | 2020 | Change |
|---|---|---|---|
| GDP (Current USD) | $24.68 billion | $21.63 billion | -12.36% |
| GDP per Capita | $68,452.24 | $59,023.57 | -13.77% |
| GDP Growth (Annual %) | 1.86% | -6.94% | -8.80pp |
| Inflation (CPI %) | 3.01% | 2.85% | -0.17pp |
| Unemployment Rate (%) | 3.51% | 5.48% | +1.97pp |
All Economic Indicators (2020)
National Accounts
- GDP (Current USD)
- $21.63 billion
- GDP per Capita
- $59,023.57
- GDP Growth (Annual %)
- -6.94%
- Gross National Income
- $22.33 billion
Prices & Employment
- Inflation (CPI %)
- 2.85%
- Inflation (GDP Deflator %)
- 4.02%
- Unemployment Rate (%)
- 5.48%
- Interest Rate (Real %)
- 1.68%
Trade & Investment
- Exports (Goods & Services)
- N/A
- Imports (Goods & Services)
- N/A
- FDI Inflow
- N/A
- FDI Outflow
- N/A
Balance & Debt
- Current Account Balance (% GDP)
- 1.13%
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2020, Iceland's Gross Domestic Product (GDP) is $21.63 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Iceland for 2020 is $59,023.57. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Iceland for 2020 is 2.85%. This measures the annual percentage change in the cost of consumer goods and services.
Iceland's annual GDP growth rate for 2020 is -6.94%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Iceland for 2020 is 5.48%. This represents the percentage of the labor force that is unemployed and actively seeking employment.