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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.

23.92% −0.44% (-1.8%)
Year 2025 Rank #63 Global Peak 28.40% (1977) Source World Bank

Iceland Gross Savings (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
Show all years (1976-2025)
* IMF World Economic Outlook projection

Detected Pattern

Export Boom Cycle
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Reserves YoY +43.3% GDP growth 6.2% C/A balance 9.1%
Occurred 768 times, 546 successful
Reserves YoY
+25.6%
GDP growth
4.0%
C/A balance
14.5%
Reserves YoY
+14.6%
GDP growth
3.7%
C/A balance
2.9%
Reserves YoY
+12.8%
GDP growth
43.8%
C/A balance
16.4%
Reserves YoY
+12.6%
GDP growth
6.0%
C/A balance
0.5%
Reserves YoY
+38.3%
GDP growth
5.0%
C/A balance
1.2%
Reserves YoY
+18.0%
GDP growth
2.9%
C/A balance
3.9%

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

What is Iceland's gross savings?▾

Iceland's gross savings was 23.92% in 2025. Ranked 63rd globally. This represents a 1.8% decrease from the previous year.

What was the highest gross savings in Iceland?▾

Iceland's gross savings peaked at 28.40% in 1977.

What was the lowest gross savings in Iceland?▾

The lowest gross savings in Iceland was 5.01% in 2008.

How does Iceland rank in gross savings?▾

Iceland ranks 63rd globally in gross savings as of 2025.

What is the World Bank indicator code for gross savings?▾

The World Bank indicator code is NY.GNS.ICTR.ZS. Data sourced from World Bank.

What is the projected gross savings of Iceland in 2025?▾

Iceland's gross savings is projected to reach 23.92% by 2025 based on IMF projection.

What is the gross savings of Iceland in 2025?▾

The gross savings of Iceland in 2025 was 23.92%. This ranks 63rd in the world.

Cite this page

APA
Iceland Gross Savings. HistorySaid. Retrieved October 19, 2026, from https://historysaid.com/iceland/gross-savings/
BibTeX
@misc{historysaid_iceland_gross-savings, title = {Iceland Gross Savings}, url = {https://historysaid.com/iceland/gross-savings/}, publisher = {HistorySaid}, year = {2026} }
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