Economy of Iceland
economy of the country
Iceland has a highly developed mixed market economy. In 2011, the gross domestic product (GDP) was US$12 billion. By 2018, it had increased to a nominal GDP of US$27 billion, and by 2025, it reached US$35 billion. As of 2025, it has the fifth highest nominal GDP per capita ($91,000) and fourteenth highest GDP per capita by PPP ($81,000). In 2025 Iceland topped the Human Development Index.
The nation has high levels of free trade and government intervention. However, government consumption is lower compared to other Nordic countries. 100% of Iceland's electrical grid is produced from renewable sources. Geothermal and Hydropower are the primary sources of energy in Iceland. A founding member of the OECD, Iceland has the third lowest Not in Education, Employment, or Training (NEET) rate among the youth.
Begin with the source’s own compact description: “Economy of Iceland” is economy of the country. The dossier treats that line as a proposition to test through Economy, Iceland and economy, not as a finished interpretation.
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Named sources, stable identifiers and responsible institutions provide the strongest route from overview to verifiable evidence. The source revision retrieved here is dated Sep 21, 2026. The linked authority identifier is Q8064. None of the 0 selected statements returned an explicit reference. The first chronological checks are 2011, 2018 and 2025.
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This entry incorporates text from “Economy of Iceland” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.