Iceland Gross Savings
Gross savings as % of GDP NY.GNS.ICTR.ZS
Iceland's gross savings was 23.92% in 2025, ranked 63rd globally. This represents a 1.8% decrease from 2024. Data from World Bank, covering 1976–2025.
Overview
Iceland's gross savings stood at 23.92% in 2025, a decline of +0.44% from 2024. The IMF projects 23.92% by 2025. Iceland ranked 63rd globally.
Iceland's Gross Savings rate has demonstrated significant volatility over the past five decades. At its peak in 1977, the country's savings rate reached 28.40%, a level not seen since. Conversely, the 2008 global financial crisis led to a significant decline, with savings plummeting to a low of 5.01%. Since then, the rate has gradually recovered, albeit at a relatively slow pace, reaching 23.92% in 2025. This puts Iceland at #63 globally. Compared to peer countries, Belarus boasts a higher savings rate at 24.07%, while Togo and Ecuador are closely matched with Iceland at 23.76% and 23.77% respectively. Estonia's savings rate of 24.17% places it above Iceland. The country's economic trajectory is expected to be influenced by shifts in its natural resources-based economy, particularly in the renewable energy sector, which could potentially alter its savings dynamics in the coming years.
Data & projection
| Year | Gross Savings | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 27.13% | - | - |
| 2029* IMF | 26.74% | - | - |
| 2028* IMF | 26.32% | - | - |
| 2027* IMF | 25.84% | - | - |
| 2026* IMF | 24.97% | - | - |
| 2025* IMF | 23.92% | - | - |
| 2025 | 23.92% | −0.44% | #63 |
| 2024 | 24.36% | +0.24% | #72 |
| 2023 | 26.22% | +3.68% | #65 |
| 2022 | 21.33% | +1.09% | #100 |
| 2021 | 18.72% | −4.19% | #121 |
| 2020 | 21.26% | −6.32% | #91 |
| 2019 | 26.64% | +0.01% | #67 |
| 2018 | 25.75% | −0.72% | #70 |
| 2017 | 25.35% | −4.39% | #70 |
| 2016 | 28.36% | +2.87% | #36 |
| 2015 | 24.31% | +2.24% | #71 |
| 2014 | 20.75% | −1.08% | #103 |
| 2013 | 20.85% | +7.87% | #96 |
| 2012 | 11.39% | +0.58% | #153 |
| 2011 | 9.85% | +1.86% | #158 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw gross savings improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's gross savings was 23.92% in 2025. Ranked 63rd globally. This represents a 1.8% decrease from the previous year.
Iceland's gross savings peaked at 28.40% in 1977.
The lowest gross savings in Iceland was 5.01% in 2008.
Iceland ranks 63rd globally in gross savings as of 2025.
The World Bank indicator code is NY.GNS.ICTR.ZS. Data sourced from World Bank.
Iceland's gross savings is projected to reach 23.92% by 2025 based on IMF projection.
The gross savings of Iceland in 2025 was 23.92%. This ranks 63rd in the world.
Cite this page
@misc{historysaid_iceland_gross-savings,
title = {Iceland Gross Savings},
url = {https://historysaid.com/iceland/gross-savings/},
publisher = {HistorySaid},
year = {2026}
}