Iceland Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Iceland's government debt to gdp was 47.42% in 2025, ranked 108th globally. This represents a 20.2% decrease from 2024. Data from IMF WEO, covering 1982–2025.
Overview
Iceland's government debt to gdp stood at 47.42% in 2025, a decline of +12.02% from 2024. The IMF projects 47.42% by 2025. Iceland ranked 108th globally.
Iceland's government debt to GDP ratio has fluctuated significantly over the past 44 years, with a latest value of 47.42 in 2025, ranking 108th globally. The country's all-time peak of 136.63 was reached in 2011, a stark contrast to its all-time trough of 27.33 in 1987. In comparison to its peers, Iceland's current ratio is slightly higher than Latvia's 47.13 and lower than Vanuatu's 48.57. This places Iceland in a relatively stable position, with its debt to GDP ratio having decreased substantially since its peak in the post-financial crisis era. As the global economic landscape continues to evolve, Iceland's ability to maintain a stable fiscal policy will be crucial in determining the trajectory of its government debt to GDP ratio, and any significant changes in this policy could potentially alter its current trend.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 37.77% | - | - |
| 2029* IMF | 39.48% | - | - |
| 2028* IMF | 41.21% | - | - |
| 2027* IMF | 43.03% | - | - |
| 2026* IMF | 44.94% | - | - |
| 2025* IMF | 47.42% | - | - |
| 2025 | 47.42% | −12.02% | #108 |
| 2024 | 59.45% | −2.10% | #108 |
| 2023 | 61.55% | −4.90% | #114 |
| 2022 | 66.45% | −7.14% | #120 |
| 2021 | 73.59% | −2.50% | #129 |
| 2020 | 76.09% | +10.37% | #131 |
| 2019 | 65.72% | +3.46% | #137 |
| 2018 | 62.26% | −8.53% | #133 |
| 2017 | 70.79% | −10.54% | #145 |
| 2016 | 81.34% | −14.98% | #160 |
| 2015 | 96.32% | −17.81% | #172 |
| 2014 | 114.12% | −6.94% | #180 |
| 2013 | 121.07% | −11.14% | #181 |
| 2012 | 132.20% | −4.43% | #184 |
| 2011 | 136.63% | +5.13% | #183 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Neither of the provided news headlines directly relates to Iceland's Government Debt to GDP, currently at 47.42%. The first headline discusses pro-productivity policies in Portugal and their importance for sustainable public finances, without mentioning Iceland. The second headline is a general interest piece about historical photos, offering no economic insights relevant to Iceland's debt.
Frequently Asked Questions
Iceland's government debt to gdp was 47.42% in 2025. Ranked 108th globally. This represents a 20.2% decrease from the previous year.
Iceland's government debt to gdp peaked at 136.63% in 2011.
The lowest government debt to gdp in Iceland was 27.33% in 1987.
Iceland ranks 108th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Iceland's government debt to gdp is projected to reach 47.42% by 2025 based on IMF projection.
The government debt to gdp of Iceland in 2025 was 47.42%. This ranks 108th in the world.
Cite this page
@misc{historysaid_iceland_government-debt-to-gdp,
title = {Iceland Government Debt to GDP},
url = {https://historysaid.com/iceland/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}