Key information about Iceland Government Debt: % of GDP

• Iceland Government debt accounted for 63.9 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 67.4 % in the previous year.
• Iceland government debt to GDP ratio data is updated yearly, available from Dec 1998 to Dec 2023.
• The data reached an all-time high of 138.2 % in Dec 2011 and a record low of 44.0 % in Dec 1998.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. Government Debt is calculated as the sum of Government Loans and Securities Other than Shares. Statistics Iceland provides Government Debt in local currency and Nominal GDP in local currency.


Related information about Iceland Government Debt: % of GDP

• In the latest reports, Iceland National Government Debt reached 20.4 USD bn in Dec 2023.
• The country's Nominal GDP reached 7.2 USD bn in Mar 2023.

Iceland recorded a Government Debt to GDP of 59.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Iceland Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The national debt of Iceland was estimated at approximately 19.96 billion U.S. dollars in 2024. Between 1982 and 2024, the national debt rose by around 19.88 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt is forecast to decline by about 233.97 million U.S. dollars from 2024 to 2030, fluctuating as it trends downward.

Graph and download economic data for Central government debt, total (% of GDP) for Iceland (DEBTTLISA188A) from 1990 to 2023 about Iceland, debt, government, and GDP.

The ratio of national debt to gross domestic product (GDP) of Iceland was estimated at approximately 59.08 percent in 2024. Between 1982 and 2024, the ratio rose by around 30.13 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is expected to drop by about 18.59 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

External Debt in Iceland increased to 3406221 ISK Million in the first quarter of 2025 from 3333088 ISK Million in the fourth quarter of 2024. This dataset provides - Iceland External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Iceland External Debt

• Iceland External Debt reached 23.6 USD bn in Dec 2024, compared with 25.1 USD bn in the previous quarter.
• Iceland External Debt: USD mn data is updated quarterly, available from Dec 1989 to Dec 2024.
• The data reached an all-time high of 130.6 USD bn in Jun 2008 and a record low of 3.2 USD bn in Dec 1989.

CEIC converts quarterly External Debt into USD. The Central Bank of Iceland provides External Debt in local currency based on BPM6. The Central Bank of Iceland period end market exchange rate is used for currency conversions. External Debt prior to Q1 1995 is based on BPM5.


Related information about Iceland External Debt

• In the latest reports of Iceland, Current Account recorded a deficit of 71.2 USD mn in Mar 2023.
• Foreign Direct Investment (FDI) increased by 79.6 USD mn in Dec 2024.
• Iceland Direct Investment Abroad expanded by 193.7 USD mn in Dec 2024.
• Its Foreign Portfolio Investment increased by 250.5 USD mn in Dec 2024.
• The country's Nominal GDP was reported at 7.2 USD bn in Mar 2023.

Private Debt to GDP in Iceland decreased to 164.40 percent in 2023 from 182.50 percent in 2022. Iceland Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Outstanding International Private Debt Securities to GDP for Iceland (DDDM05ISA156NWDB) from 1980 to 2020 about Iceland, debt, securities, private, and GDP.

Key information about Iceland National Government Debt

• Iceland National Government Debt reached 20.4 USD bn in Dec 2023, compared with 18.4 USD bn in the previous year.
• Iceland National Government Debt data is updated yearly, available from Dec 1998 to Dec 2023.
• The data reached an all-time high of 20.9 USD bn in Dec 2013 and a record low of 3.8 USD bn in Dec 1998.

CEIC calculates annual Government Debt as the sum of Government Loans and Securities Other than Shares and converts it into USD. Statistics Iceland provides Government Debt in local currency. The Central Bank of Iceland period end market exchange rate is used for currency conversions.


Related information about Iceland National Government Debt

• In the latest reports, Iceland Consolidated Fiscal Balance registered a surplus equal to 0.6 % of its Nominal GDP in Dec 2023.
• The country's Government debt accounted for 64.8 % of its Nominal GDP in Dec 2023.
• Iceland Nominal GDP reached 7.2 USD bn in Mar 2023.

Iceland: Government debt as percent of GDP: The latest value from 2018 is 35.9 percent, a decline from 43.3 percent in 2017. In comparison, the world average is 54.98 percent, based on data from 184 countries. Historically, the average for Iceland from 1980 to 2018 is 46.61 percent. The minimum value, 23.03 percent, was reached in 1981 while the maximum of 92.1 percent was recorded in 2011.

Key information about Iceland External Debt: % of GDP

• Iceland External Debt accounted for 70.8 % of the country's Nominal GDP in 2024, compared with the ratio of 75.2 % in the previous year.
• Iceland External Debt: % of Nominal GDP data is updated yearly, available from Dec 1989 to Dec 2024.
• The data reached an all-time high of 936.0 % in Dec 2008 and a record low of 54.4 % in Dec 1990.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and quarterly Nominal GDP. The Central Bank of Iceland provides External Debt in local currency based on BPM6. Statistics Iceland provides Nominal GDP in local currency based on ESA 2010. External Debt as % of Nominal GDP prior to 1995 is calculated from External Debt based on BPM5 and Nominal GDP based on ESA 1995.


Related information about Iceland External Debt: % of GDP

• In the latest reports of Iceland, Current Account recorded a deficit of 71.2 USD mn in Mar 2023.
• Foreign Direct Investment (FDI) increased by 79.6 USD mn in Dec 2024.
• Iceland Direct Investment Abroad expanded by 193.7 USD mn in Dec 2024.
• Its Foreign Portfolio Investment increased by 250.5 USD mn in Dec 2024.
• The country's External Debt reached 23,639.8 in Dec 2024.
• The country's Nominal GDP was reported at 7.2 USD bn in Mar 2023.

International debt issues to GDP (%) in Iceland was reported at 61.81 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - International debt issues to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Central government debt, total (% of GDP) in Iceland was reported at 80.73 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Central government debt, total (current LCU) in Iceland was reported at 3502575134777 LCU in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Central government debt, total (current LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Key information about Iceland Household Debt

• Iceland Household Debt reached 23.8 USD bn in Dec 2024, compared with the reported number of 24.3 USD bn in the previous quarter
• Iceland Household Debt: USD mn data is updated quarterly, available from Dec 1991 to Dec 2024
• The data reached an all-time high of 25.0 USD bn in Dec 2007 and a record low of 3.5 USD bn in Jun 1993

CEIC converts quarterly Household Debt into USD. The Central Bank of Iceland provides Household Debt in local currency. The Central Bank of Iceland period end market exchange rate is used for currency conversions. Loans are used due to timeliness in comparison to Flow of Funds.


Further information about Iceland Household Debt

• In the latest reports, Iceland Household Debt accounted for 71.4 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in Iceland increased 15.5 USD bn YoY in Jan 2025
• Iceland Foreign Exchange Reserves was measured at 5.6 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 5.7 Months of Import in Feb 2025
• Iceland Domestic Credit reached 34.0 USD bn in Jan 2025, representing an increased of 9.4 % YoY

Outstanding international public debt securities to GDP (%) in Iceland was reported at 15.35 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Gross Ext. Debt Pos., General Government, Long-term, Debt securities, USD in Iceland was reported at 3012391057 USD in 2025, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Gross Ext. Debt Pos., General Government, Long-term, Debt securities, USD - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Gross Ext. Debt Pos., General Government, Long-term, Loans, USD in Iceland was reported at 18165972 USD in 2025, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Gross Ext. Debt Pos., General Government, Long-term, Loans, USD - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

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