Financial Development Index in Iceland
Iceland: Financial Development Index was 0.4828 in 2020. ▲ Rising
Financial Development Index in Iceland, 1980–2020
Source: International Monetary Fund.
Analysis
In 2020, financial development index in Iceland stood at 0.4828.
The figure is down 1.5% on the previous year and down 5.7% over ten years.
Over the whole period, financial development index in Iceland peaked at 0.6146 in 2005 and was at its lowest, 0.2427, in 1980.
That places Iceland 38th out of 183 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently rising across the 41 years of available data.
Financial Development Index in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0.2427 | — |
| 1981 | 0.2618 | +7.9% |
| 1982 | 0.3144 | +20.1% |
| 1983 | 0.3286 | +4.5% |
| 1984 | 0.3372 | +2.6% |
| 1985 | 0.3294 | -2.3% |
| 1986 | 0.2934 | -10.9% |
| 1987 | 0.3082 | +5.0% |
| 1988 | 0.3341 | +8.4% |
| 1989 | 0.3732 | +11.7% |
| 1990 | 0.3478 | -6.8% |
| 1991 | 0.3656 | +5.1% |
| 1992 | 0.3786 | +3.5% |
| 1993 | 0.3649 | -3.6% |
| 1994 | 0.4095 | +12.2% |
| 1995 | 0.3965 | -3.2% |
| 1996 | 0.4135 | +4.3% |
| 1997 | 0.4493 | +8.7% |
| 1998 | 0.4867 | +8.3% |
| 1999 | 0.5208 | +7.0% |
| 2000 | 0.5401 | +3.7% |
| 2001 | 0.5802 | +7.4% |
| 2002 | 0.5851 | +0.8% |
| 2003 | 0.6075 | +3.8% |
| 2004 | 0.6126 | +0.8% |
| 2005 | 0.6146 | +0.3% |
| 2006 | 0.6032 | -1.9% |
| 2007 | 0.6142 | +1.8% |
| 2008 | 0.559 | -9.0% |
| 2009 | 0.5475 | -2.1% |
| 2010 | 0.5118 | -6.5% |
| 2011 | 0.58 | +13.3% |
| 2012 | 0.5451 | -6.0% |
| 2013 | 0.5523 | +1.3% |
| 2014 | 0.5056 | -8.5% |
| 2015 | 0.5187 | +2.6% |
| 2016 | 0.5319 | +2.5% |
| 2017 | 0.5276 | -0.8% |
| 2018 | 0.5025 | -4.8% |
| 2019 | 0.49 | -2.5% |
| 2020 | 0.4828 | -1.5% |
Iceland compared with similar countries
- Iceland's 0.4828 is above the median for high income countries, which is 0.4828, 1.0× the median. (62 countries reporting)
- Iceland's 0.4828 is above the median for Europe & Central Asia, which is 0.4521, 1.1× the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.3123 | 0.2427 | 0.3732 | 10 |
| 1990s | 0.4133 | 0.3478 | 0.5208 | 10 |
| 2000s | 0.5864 | 0.5401 | 0.6146 | 10 |
| 2010s | 0.5266 | 0.49 | 0.58 | 10 |
| 2020s | 0.4828 | 0.4828 | 0.4828 | 1 |
Countries ranked near Iceland
More financial sector data for Iceland
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 243.62 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 177.89 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 243.62 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is financial development index in Iceland?
- Financial development index in Iceland was 0.4828 in 2020, according to International Monetary Fund.
- What is the highest financial development index recorded in Iceland?
- The highest recorded value was 0.6146 in 2005.
- What is the lowest financial development index recorded in Iceland?
- The lowest recorded value was 0.2427 in 1980.
- How does Iceland rank for financial development index?
- Iceland ranks 38th out of 183 countries with data for 2020.
- Is financial development index rising or falling in Iceland?
- Over the last ten years it is down 5.7%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Financial Development Index. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 41 observations, free to reuse under IMF Terms and Conditions (attribution required).
About this data
The dataset contains nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are aggregated into an overall index of financial development. With the coverage of over 180 countries on annual frequency from 1980 onwards, the database should offer a useful analytical tool for researchers and policy makers.