Iceland's adjusted net national income (annual % growth) was 2.87% in 2021, the latest year in the World Bank's World Development Indicators. That is down 3.96 percentage points from 6.83% in 2016.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 2.87% | 2021 |
| Five years earlier | 6.83% | 2016 |
| Highest | 15.21% | 2013 |
| Lowest | -10.47% | 2020 |
| Average since 2012 | 4.25% | 2012–2021 |
| First recorded | 3.72% | 2012 |
Over five years it is down 3.96 percentage points from 6.83% in 2016. Since 2012 it is down 0.85 percentage points from 3.72% in 2012.
What the numbers say
In 2021, Iceland's adjusted net national income (annual % growth) rose 13.34 percentage points on 2020 (from -10.47% to 2.87%).
Across the 8 yearly changes before that (2013 to 2020), the average change was −1.77 percentage points and a typical year strayed about 10.16 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 13.34 percentage points in 2021 and the biggest yearly fall was 18.87 percentage points in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2012 to 2021 there is no clear straight-line trend: a straight line explains 28% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2021, Iceland had the 88th highest value of the 137 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Iceland | 2.87% | 2021 |
| World | 5.42% | 2021 |
| Europe & Central Asia | 5.62% | 2021 |
| High income | 4.91% | 2021 |
Closest to Iceland in the 2021 ranking
- Peru — 85th of 137: 3.05%
- Uganda — 86th of 137: 2.96%
- New Zealand — 87th of 137: 2.89%
- Germany — 89th of 137: 2.71%
- Korea, Rep. — 90th of 137: 2.69%
- Mauritius — 91st of 137: 2.49%
What this measures
Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Limitations: Adjusted net national income differs from the adjustments made in the calculation of adjusted net savings, by not accounting for investments in human capital or the damages from pollution. Thus, adjusted net national income remains within the boundaries of the United Nations System of National Accounts (SNA). The SNA includes non-produced natural assets (such as land, mineral resources, and forests) within the asset boundary when they are under the effective control of institutional units. The calculation of adjusted net national income, which accounts for net forest, energy, and mineral depletion, as well as consumption of fixed capital, thus remains within the SNA boundaries.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 10 values
| Year | Adjusted net national income (annual % growth) |
|---|---|
| 2021 | 2.87 |
| 2020 | -10.47 |
| 2019 | 8.4 |
| 2018 | -0.2501 |
| 2017 | 4.69 |
| 2016 | 6.83 |
| 2015 | 7.97 |
| 2014 | 3.57 |
| 2013 | 15.21 |
| 2012 | 3.72 |
Adjusted net national income (annual % growth) in nearby economies
More economic policy & debt data for Iceland
- Total reserves, including gold (current US$) — US$7.73 billion (2025)
- Total reserves, excluding gold (current US$) — US$7.45 billion (2025)
- GDP (current US$) — US$38.58 billion (2025)
- GDP (current LCU) — 4.96 trillion (2025)
- GDP (constant 2015 US$) — US$23.12 billion (2025)
- GDP (constant LCU) — 3.59 trillion (2025)
- GDP per capita (current US$) — US$98,324 (2025)
- GDP per capita (current LCU) — 12.63 million (2025)
- GDP per capita (constant 2015 US$) — US$58,910 (2025)
- GDP per capita (constant LCU) — 9.14 million (2025)
- GNI (current US$)
Reading data like this
Questions people ask
- What is Iceland's adjusted net national income (annual % growth)?
- 2.87% in 2021, according to the World Bank (World Development Indicators).
- How has it changed since 2012?
- It is down 0.85 percentage points from 3.72% in 2012. The highest value was 15.21% in 2013 and the lowest -10.47% in 2020.
- How does Iceland rank?
- 88th highest of 137 economies with data for 2021.
- Is the latest change in adjusted net national income (annual % growth) unusual for Iceland?
- In 2021, Iceland's adjusted net national income (annual % growth) rose 13.34 percentage points on 2020 (from -10.47% to 2.87%). Across the 8 yearly changes before that (2013 to 2020), the average change was −1.77 percentage points and a typical year strayed about 10.16 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NY.ADJ.NNTY.KD.ZG, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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