Isle of Man: GDP (constant 2015 US$)

Key figures

What the numbers say

In 2023, Isle of Man's GDP (constant 2015 US$) fell 2% on 2022 (from US$7.24 billion to US$7.1 billion).

Across the 30 yearly changes before that (1993 to 2022), the average change was +4.5% and a typical year strayed about 4.4% from that (the standard deviation). This year's change was 1.5 standard deviations below 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 19.1% in 1986 and the biggest yearly fall was 8.8% 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 2014 to 2023 there is no clear straight-line trend: a straight line explains less than 1% 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

See how every economy compares in the full ranking.

Closest to Isle of Man in the 2023 ranking

• Channel Islands — 1st of 4: US$11.71 billion
• Greenland — 3rd of 4: US$2.84 billion
• San Marino — 4th of 4: US$1.74 billion

What this measures

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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: Each industry's contribution to growth in the economy's output is measured by growth in the industry's value added. In principle, value added in constant prices can be estimated by measuring the quantity of goods and services produced in a period, valuing them at an agreed set of base year prices, and subtracting the cost of intermediate inputs, also in constant prices. This double-deflation method requires detailed information on the structure of prices of inputs and outputs. In many industries, however, value added is extrapolated from the base year using single volume indexes of outputs or, less commonly, inputs.

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

All 40 values

GDP (constant 2015 US$) in nearby economies

• Albania — US$16.16 billion (2025)
• Andorra — US$3.51 billion (2025)
• Armenia — US$17.49 billion (2025)
• Austria — US$424.41 billion (2025)
• Azerbaijan — US$60.82 billion (2025)
• Belarus — US$63.04 billion (2025)
• Belgium — US$539.12 billion (2025)
• Bosnia and Herzegovina — US$21.8 billion (2025)
• Bulgaria — US$67.25 billion (2025)
• Channel Islands — US$11.71 billion (2023)
• Croatia — US$71.38 billion (2025)
• Cyprus

More economic policy & debt data for Isle of Man

• GNI (current US$) — US$7.3 billion (2023)
• GNI (current LCU) — 5.87 billion (2023)
• GNI per capita (current LCU) — 69,738 (2023)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• GDP (current US$) — US$7.58 billion (2023)
• GDP (current LCU) — 6.1 billion (2023)
• GDP (constant LCU) — 4.64 billion (2023)
• GDP per capita (current US$) — US$90,015 (2023)
• GDP per capita (current LCU) — 72,421 (2023)
• GDP per capita (constant 2015 US$) — US$84,315 (2023)
• GDP per capita (constant LCU)

Reading data like this

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Questions people ask

What is Isle of Man's GDP (constant 2015 US$)?

US$7.1 billion in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1984?

It is up 500.84% from US$1.18 billion in 1984 (4.71% a year on average, compounded). The highest value was US$7.99 billion in 2019 and the lowest US$1.18 billion in 1984.

Is the latest change in GDP (constant 2015 US$) unusual for Isle of Man?

In 2023, Isle of Man's GDP (constant 2015 US$) fell 2% on 2022 (from US$7.24 billion to US$7.1 billion). Across the 30 yearly changes before that (1993 to 2022), the average change was +4.5% and a typical year strayed about 4.4% from that (the standard deviation). This year's change was 1.5 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Where does this data come from?

The World Bank's World Development Indicators, 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).

Source

World Bank, World Development Indicators, indicator NY.GDP.MKTP.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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