Iceland vs Norway: Gross domestic product (GDP)
Gross domestic product (GDP) over time
- Iceland
- Norway
How they compare
Norway currently reports 5.30 trillion Domestic currency against 4.92 trillion Domestic currency in Iceland, a difference of 381.91 billion Domestic currency.
That makes Norway's figure about 1.1 times Iceland's.
Across all 63 years both countries report, Norway has been ahead every year.
Iceland ranks 32nd and Norway ranks 31st of 86 countries.
Norway has averaged higher in every one of the 7 decades both report.
Head to head by decade
| Decade | Iceland | Norway | Difference | Ahead |
|---|---|---|---|---|
| 1960s | 292.99 million Domestic currency | 68.24 billion Domestic currency | 67.95 billion Domestic currency | Norway |
| 1970s | 3.13 billion Domestic currency | 168.09 billion Domestic currency | 164.96 billion Domestic currency | Norway |
| 1980s | 133.77 billion Domestic currency | 519.57 billion Domestic currency | 385.80 billion Domestic currency | Norway |
| 1990s | 481.05 billion Domestic currency | 969.37 billion Domestic currency | 488.32 billion Domestic currency | Norway |
| 2000s | 1.11 trillion Domestic currency | 1.96 trillion Domestic currency | 852.48 billion Domestic currency | Norway |
| 2010s | 2.27 trillion Domestic currency | 3.12 trillion Domestic currency | 848.15 billion Domestic currency | Norway |
| 2020s | 4.02 trillion Domestic currency | 4.73 trillion Domestic currency | 714.04 billion Domestic currency | Norway |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher gross domestic product (gdp), Iceland or Norway?
- Norway, at 5.30 trillion Domestic currency against 4.92 trillion Domestic currency in Iceland as of 2027.
- What is the difference in gross domestic product (gdp) between Iceland and Norway?
- 381.91 billion Domestic currency, with Norway ahead.
- How many years of comparable data are there for Iceland and Norway?
- 63 years are reported by both, from 1965 to 2027.
- How do Iceland and Norway rank globally for gross domestic product (gdp)?
- Iceland ranks 32nd and Norway ranks 31st of 86 countries.
- Where does this data come from?
- International Monetary Fund, published as Gross domestic product (GDP) (Total economy, Domestic currency). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
The Public Sector Balance Sheet (PSBS) Database shows comprehensive estimates of public sector assets and liabilities that formed the basis for the analysis presented in the October 2018 edition of the Fiscal Monitor. The database covers a broad sample of 55 countries, of which 25 countries contain time-series estimated PSBS and the rest for one single-year data compiled as part of Financial Transparency Evaluations and IMF Technical Assistance missions. The PSBS database is compiled on a best-effort basis, using the conceptual framework of the IMF's Government Finance Statistics Manual 2014. Data for the central and general government generally replicate data reported by country authorities in the IMF's Government Finance Statistics database. Data for the central bank generally replicate data reported by country authorities in the IMF's Monetary and Financial Statistics database. Where these data fail to cover all categories of assets and liabilities, they are complemented by other data reported by statistical authorities at the national level. other international organizations, or staff estimates. Data sources for public corporations are country specific and are captured in the country specific metadata documents.