Private Sector Credit Statistics in Iceland (2026)
Iceland recorded domestic credit to the private sector of 90.9% of GDP in 2024, World Bank World Development Indicators data show. Up from 88.4% of GDP in 2023 to 90.9% of GDP in 2024 (+2.5 percentage points). Iceland ranks #7 of 47 economies in Europe & Central Asia on this measure, and #25 of 160 globally.
Key Statistics
- Latest value (2024)
- 90.9% of GDP (2024)
- Private Sector Credit in Iceland as of 2024, the most recent observation in World Bank World Development Indicators data.
- Change since 2023
- +2.5 pp (2024)
- Up from 88.4% of GDP in 2023 to 90.9% of GDP in 2024 (+2.5 percentage points).
- Earliest value in this dataset (1990)
- 40.4% of GDP (1990)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 40.4% of GDP in 1990 to 90.9% of GDP in 2024.
- Peak value (2006)
- 301% of GDP (2006)
- Highest value in the available series; the 2024 value is 90.9% of GDP.
- Rank in Europe & Central Asia
- #7 of 47 (2024)
- Iceland ranks 7 of 47 countries in Europe & Central Asia with data, based on each country's latest value.
- Global rank
- #25 of 160 (2024)
- Iceland ranks 25 of 160 countries with data globally.
- Europe & Central Asia average
- 57.3% of GDP (2024)
- Iceland (90.9% of GDP) is above the average of 57.3% of GDP across the 47 countries in Europe & Central Asia with data.
- Domestic credit to private sector by banks (% of GDP) (2024)
- 90.9% (2024)
- Related indicator from World Bank World Development Indicators.
- Outstanding loans from commercial banks, percent of GDP (2024)
- 89.8% (2024)
- Related indicator from IMF Financial Access Survey (alternative source for cross-checking; not merged with the main series).
- Internet use in Iceland (2024)
- 98.2% (2024)
- 98.2% of the population in Iceland used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 386,506 (2024)
- Iceland had a population of 386,506 in 2024 (World Bank); shown for scale only.
Trend, 1990–2024
| Year | % of GDP | Change |
|---|---|---|
| 2024 | 90.9% | +2.5 pp |
| 2023 | 88.4% | −4.7 pp |
| 2022 | 93.1% | −6.5 pp |
| 2021 | 99.5% | +1.1 pp |
| 2020 | 98.4% | +10.7 pp |
| 2019 | 87.7% | −1.8 pp |
| 2018 | 89.5% | +3.8 pp |
| 2017 | 85.7% | +2.6 pp |
| 2016 | 83% | −3.3 pp |
| 2015 | 86.3% | −6.9 pp |
| 2014 | 93.3% | −13.1 pp |
| 2013 | 106.4% | −9.9 pp |
| 2012 | 116.3% | −18.5 pp |
| 2011 | 134.9% | −22.8 pp |
| 2010 | 157.6% | −14.2 pp |
| 2009 | 171.8% | −19.2 pp |
| 2008 | 191% | −52.2 pp |
| 2007 | 243.2% | −57.9 pp |
| 2006 | 301% | +65.6 pp |
| 2005 | 235.5% | +79.2 pp |
| 2004 | 156.2% | +32.6 pp |
| 2003 | 123.7% | +24.2 pp |
| 2002 | 99.5% | +5.4 pp |
| 2001 | 94.1% | +1.7 pp |
| 2000 | 92.4% | +22.4 pp |
| 1999 | 70% | +8.6 pp |
| 1998 | 61.4% | −2.4 pp |
| 1997 | 63.8% | +17.4 pp |
| 1996 | 46.4% | +2.5 pp |
| 1995 | 43.9% | +1.4 pp |
| 1994 | 42.5% | −2.1 pp |
| 1993 | 44.6% | −0.0 pp |
| 1992 | 44.6% | +3.0 pp |
| 1991 | 41.6% | +1.2 pp |
| 1990 | 40.4% | — |
Frequently asked questions
What is the latest figure for domestic credit to the private sector in Iceland?
Domestic credit to the private sector in Iceland stood at 90.9% of GDP in 2024, according to World Bank World Development Indicators data.
Where does Iceland rank globally on private sector credit?
Iceland ranks 25 of 160 countries with data globally, based on the latest World Bank World Development Indicators value for each country.
When did private sector credit in Iceland peak?
The highest value in the available series was 301% of GDP in 2006; the latest (2024) value is 90.9% of GDP.
Source & methodology
Source: World Bank, World Development Indicators, indicator
FS.AST.PRVT.GD.ZS, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .