Iceland Services Value Added
Services value added as % of GDP NV.SRV.TOTL.ZS
Iceland's services value added was 64.95% in 2025, ranked 53rd globally. This represents a 0.1% increase from 2024. Data from World Bank, covering 1995–2025.
Overview
Iceland's services value added stood at 64.95% in 2025, a rise of +0.06% from 2024. Based on recent trends, this figure is projected to reach 64.95% by 2025. Iceland ranked 53rd globally.
Iceland's Services Value Added has experienced a moderate growth trajectory over the past three decades, with the indicator fluctuating between a peak of 66.12 in 2019 and a trough of 53.47 in 1997. The country's services sector has consistently accounted for a substantial share of its economy, with the latest available data from 2025 indicating a value of 64.95, ranking 53rd globally. Notably, Iceland's services sector has been comparable to that of Montenegro, where the indicator stands at 65.04, a country that has also seen a significant growth in its services sector in recent years. Despite experiencing some volatility, Iceland's Services Value Added has generally trended upwards, with a slight decline occurring between 1997 and 1999 following the country's banking crisis. However, with the ongoing shift towards digital services and a potential rebound in tourism, Iceland's Services Value Added is likely to continue its growth trend, albeit at a slower pace.
Data & projection
| Year | Services Value Added | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 64.97% | - | - |
| 2026* trend | 64.96% | - | - |
| 2025* trend | 64.95% | - | - |
| 2025 | 64.95% | +0.06% | #53 |
| 2024 | 64.89% | −0.48% | #132 |
| 2023 | 65.38% | +0.94% | #147 |
| 2022 | 64.44% | −0.30% | #147 |
| 2021 | 64.74% | −0.42% | #147 |
| 2020 | 65.16% | −0.96% | #143 |
| 2019 | 66.12% | +0.87% | #155 |
| 2018 | 65.25% | −0.42% | #151 |
| 2017 | 65.67% | +0.07% | #154 |
| 2016 | 65.60% | +0.96% | #151 |
| 2015 | 64.64% | +0.72% | #147 |
| 2014 | 63.92% | +0.81% | #142 |
| 2013 | 63.11% | +0.92% | #139 |
| 2012 | 62.19% | +0.76% | #140 |
| 2011 | 61.43% | −0.69% | #136 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw services value added improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's services value added was 64.95% in 2025. Ranked 53rd globally. This represents a 0.1% increase from the previous year.
Iceland's services value added peaked at 66.12% in 2019.
The lowest services value added in Iceland was 53.47% in 1997.
Iceland ranks 53rd globally in services value added as of 2025.
The World Bank indicator code is NV.SRV.TOTL.ZS. Data sourced from World Bank.
Iceland's services value added is projected to reach 64.95% by 2025 based on trend extrapolation.
The services value added of Iceland in 2025 was 64.95%. This ranks 53rd in the world.
Cite this page
@misc{historysaid_iceland_services-value-added,
title = {Iceland Services Value Added},
url = {https://historysaid.com/iceland/services-value-added/},
publisher = {HistorySaid},
year = {2026}
}