Key information about Iceland Household Income per Capita

• Iceland Annual Household Income per Capita reached 61,901.130 USD in Dec 2022, compared with the previous value of 60,523.130 USD in Dec 2021.
• Iceland Annual Household Income per Capita data is updated yearly, available from Dec 1990 to Dec 2022, with an averaged value of 36,152.955 USD.
• The data reached an all-time high of 71,650.752 USD in Dec 2007 and a record low of 18,156.928 USD in Dec 1994.
• In the latest reports, Retail Sales of Iceland grew 9.708 % YoY in Apr 2023.

CEIC converts Annual Household Income per Capita into USD. Statistics Iceland provides Average Household Income per Capita in local currency. The Central Bank of Iceland average market exchange rate is used for currency conversions.

Between 2014 and 2022 in Iceland, there was a steady increase in average monthly earnings. While the mean income was 563,000 Icelandic Krona in 2014, it rose to 871,000 Krona in 2022, showing an increase of 54 percent over these nine years.

Iceland IS: Proportion of People Living Below 50 Percent Of Median Income: % data was reported at 6.300 % in 2017. This records a decrease from the previous number of 6.500 % for 2016. Iceland IS: Proportion of People Living Below 50 Percent Of Median Income: % data is updated yearly, averaging 6.500 % from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 7.200 % in 2011 and a record low of 5.400 % in 2013. Iceland IS: Proportion of People Living Below 50 Percent Of Median Income: % data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iceland – Table IS.World Bank.WDI: Social: Poverty and Inequality. The percentage of people in the population who live in households whose per capita income or consumption is below half of the median income or consumption per capita. The median is measured at 2017 Purchasing Power Parity (PPP) using the Poverty and Inequality Platform (http://www.pip.worldbank.org). For some countries, medians are not reported due to grouped and/or confidential data. The reference year is the year in which the underlying household survey data was collected. In cases for which the data collection period bridged two calendar years, the first year in which data were collected is reported.;World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are mostly from the Luxembourg Income Study database. For more information and methodology, please see http://pip.worldbank.org.;;The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than 2000 household surveys across 169 countries. See the Poverty and Inequality Platform (PIP) for details (www.pip.worldbank.org).

Between 2014 and 2022 in Iceland, men earned more than women. Whereas the average wage in the country has increased steadily over the past six years for both genders, men earn over 120,000 Icelandic Krona (ISK) more than women. The average earnings of Icelandic men was 932,000 Icelandic Krona in 2022 compared to 625,000 in 2014. For women, the mean income was 808,000 Icelandic Krona in 2022 and 492,000 in 2014.

Iceland Average Income: Capital data was reported at 626.000 ISK th in 2017. This records an increase from the previous number of 528.000 ISK th for 2016. Iceland Average Income: Capital data is updated yearly, averaging 299.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,168.000 ISK th in 2007 and a record low of 59.000 ISK th in 1994. Iceland Average Income: Capital data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Wages in Iceland increased to 909000 ISK/Month in 2024 from 867000 ISK/Month in 2023. This dataset provides - Iceland Wage Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Iceland Average Income: Total data was reported at 6,418.000 ISK th in 2017. This records an increase from the previous number of 5,910.000 ISK th for 2016. Iceland Average Income: Total data is updated yearly, averaging 2,855.000 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 6,418.000 ISK th in 2017 and a record low of 1,116.000 ISK th in 1990. Iceland Average Income: Total data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Among all occupational groups in Iceland, men have higher average wages than women. Managers was the occupational group with the highest average earnings in 2022, with men earning around 1.3 million Icelandic krona per month, compared to women's 1.1 million. Elementary occupations was the group with the lowest average earnings, with men and women earning 480,000 and 480,000 Icelandic krona per month, respectively. There is a significant income gap between the genders in Iceland.

Iceland Average Income: Capital: Female data was reported at 580.000 ISK th in 2017. This records an increase from the previous number of 470.000 ISK th for 2016. Iceland Average Income: Capital: Female data is updated yearly, averaging 276.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,109.000 ISK th in 2007 and a record low of 33.000 ISK th in 1994. Iceland Average Income: Capital: Female data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

The income level in Iceland generally correlates with educational levels across the country; the higher the educational level, the higher the average income. In 2020, people with a doctoral degree or an equivalent education had the highest average income in Iceland, earning 13.8 million Icelandic Krona on average. In contrast, people with a basic educational only earned 5.2 million Icelandic Krona on average in 2020.

Disposable Personal Income in Iceland increased to 2429435 ISK Million in 2024 from 2191661 ISK Million in 2023. This dataset provides - Iceland Disposable Income per Capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Iceland was last recorded at 57954.57 US dollars in 2024. The GDP per Capita in Iceland is equivalent to 459 percent of the world's average. This dataset provides the latest reported value for - Iceland GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Iceland Average Income: Work data was reported at 4,563.000 ISK th in 2017. This records an increase from the previous number of 4,291.000 ISK th for 2016. Iceland Average Income: Work data is updated yearly, averaging 2,053.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 4,563.000 ISK th in 2017 and a record low of 922.000 ISK th in 1990. Iceland Average Income: Work data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Adjusted net national income per capita (current US$) in Iceland was reported at 54204 USD in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Adjusted net national income per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Adjusted net national income per capita (annual % growth) in Iceland was reported at 0.92201 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Adjusted net national income per capita (annual % growth) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In Iceland, there is a significant income gap between men and women. Even though the average income of both sexes increased steadily from 2008 to 2021, men have consistently earned around 500 Icelandic Krona more than women every hour. Whereas Icelandic men earned over 4,100 Krona per hour in 2021 compared to 2,110 in 2008, the numbers were respectively close to 3,700 and 1,680 for women, showing that the income gap in Iceland was almost just as high in 2021 as it was 13 years earlier.

Iceland Average Income: Other data was reported at 1,229.000 ISK th in 2017. This records an increase from the previous number of 1,090.000 ISK th for 2016. Iceland Average Income: Other data is updated yearly, averaging 435.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,229.000 ISK th in 2017 and a record low of 126.000 ISK th in 1990. Iceland Average Income: Other data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Iceland gni per capita for 2023 was $80,400, a 9.06% increase from 2022.

<ul style='margin-top:20px;'>

<li>Iceland gni per capita for 2022 was <strong>$73,720</strong>, a <strong>9.98% increase</strong> from 2021.</li>
<li>Iceland gni per capita for 2021 was <strong>$67,030</strong>, a <strong>1.84% increase</strong> from 2020.</li>
<li>Iceland gni per capita for 2020 was <strong>$65,820</strong>, a <strong>12.43% decline</strong> from 2019.</li>
</ul>GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

From 2013 to 2018, people born outside of Iceland earned averagely less than people born in Iceland. Furthermore, people born in and outside of the EU earned roughly the same. The average annual wages for all three groups have grown over the last years. In 2018, Iceland-born citizens earned *** million Icelandic Krona annually, EU-born citizens *** million, and non-EU born *** million.

From 2008 to 2018, Icelandic citizens earned averagely more than their foreign counterparts. Even though average incomes for both groups have increased since 2011, foreigners still earn around one million Icelandic Krona less than Icelandic citizens.