HistoryCentral · Nation by Nation
HistoryCentral Est. 1996
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flag — Iceland
Nation by Nation

Iceland

Economy

$33.3 billion
GDP
World Bank · 2024
$86,041
GDP / Capita
World Bank · 2024
-1.0%
GDP Growth
World Bank · 2024
3.6%
Unemployment
World Bank · 2024

Iceland has a small, prosperous, and remarkably resilient economy that rebounded strongly from the dramatic collapse of its oversized banking sector in 2008.

Abundant renewable energy — geothermal and hydropower — and rich fishing grounds underpin its wealth, while tourism has boomed into a leading industry, drawing visitors to its volcanic landscapes.

Key Sectors

The economy rests on tourism, fishing and seafood, aluminum smelting powered by cheap renewable energy, and a growing technology and data-center sector.

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