Iceland: Agriculture, forestry, and fishing, value added (constant 2015 US$)

Key figures

What the numbers say

In 2025, Iceland's agriculture, forestry, and fishing, value added (constant 2015 US$) fell 1.2% on 2024 (from US$1.01 billion to US$998.28 million).

Across the 29 yearly changes before that (1996 to 2024), the average change was +0.1% and a typical year strayed about 5.1% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 12% in 2018 and the biggest yearly fall was 15% in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 18% 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 2025, Iceland had the 118th highest value of the 162 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.

Closest to Iceland in the 2025 ranking

• Burundi — 115th of 162: US$1.12 billion
• Moldova — 116th of 162: US$1.1 billion
• Bosnia and Herzegovina — 117th of 162: US$1.05 billion
• Congo, Rep. — 119th of 162: US$978.16 million
• Latvia — 120th of 162: US$891.35 million
• Slovenia — 121st of 162: US$890.55 million

What this measures

Agriculture, forestry, and fishing corresponds to ISIC (Rev. 4) divisions 01-03 and includes the exploitation of vegetal and animal natural resources, comprising the activities of growing of crops, raising and breeding of animals, harvesting of timber and other plants, animals or animal products from a farm or their natural habitats.Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Agricultural production often must be estimated indirectly, using a combination of methods involving estimates of inputs, yields, and area under cultivation. This approach sometimes leads to crude approximations that can differ from the true values over time and across crops for reasons other than climate conditions or farming techniques.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 31 values

Agriculture, forestry, and fishing, value added (constant 2015 US$) in nearby economies

• Albania — US$2.03 billion (2025)
• Andorra — US$16.98 million (2025)
• Armenia — US$1.42 billion (2025)
• Austria — US$4.8 billion (2025)
• Azerbaijan — US$4.56 billion (2025)
• Belarus — US$4.11 billion (2025)
• Belgium — US$3.29 billion (2025)
• Bosnia and Herzegovina — US$1.05 billion (2025)
• Bulgaria

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

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Questions people ask

What is Iceland's agriculture, forestry, and fishing, value added (constant 2015 US$)?

US$998.28 million in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is down 1.09% from US$1.01 billion in 1995. The highest value was US$1.19 billion in 2023 and the lowest US$853.93 million in 2011.

How does Iceland rank?

118th highest of 162 economies with data for 2025.

Is the latest change in agriculture, forestry, and fishing, value added (constant 2015 US$) unusual for Iceland?

In 2025, Iceland's agriculture, forestry, and fishing, value added (constant 2015 US$) fell 1.2% on 2024 (from US$1.01 billion to US$998.28 million). Across the 29 yearly changes before that (1996 to 2024), the average change was +0.1% and a typical year strayed about 5.1% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NV.AGR.TOTL.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, 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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