Financial system deposits to GDP in Iceland
Iceland: Financial system deposits to GDP was 70.2% in 2021. ▲ Rising
Financial system deposits to GDP in Iceland, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
Iceland recorded 70.2% for financial system deposits to gdp in 2021.
The figure is up 0.8% on the previous year and down 17.0% over ten years.
Over the whole period, financial system deposits to gdp in Iceland peaked at 98.1% in 2008 and was at its lowest, 18.2%, in 1981.
Iceland ranks 69th of 185 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 62 years of available data.
Financial system deposits to GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 32.3% | — |
| 1961 | 36.1% | +11.8% |
| 1962 | 37.8% | +4.7% |
| 1963 | 36.4% | -3.8% |
| 1964 | 29.0% | -20.1% |
| 1965 | 30.0% | +3.2% |
| 1966 | 28.1% | -6.3% |
| 1967 | 34.4% | +22.4% |
| 1968 | 35.1% | +2.0% |
| 1969 | 35.1% | -0.1% |
| 1970 | 34.2% | -2.4% |
| 1971 | 32.5% | -5.2% |
| 1972 | 30.4% | -6.3% |
| 1973 | 28.8% | -5.2% |
| 1974 | 25.5% | -11.6% |
| 1975 | 23.0% | -9.6% |
| 1976 | 21.8% | -5.3% |
| 1977 | 21.6% | -0.9% |
| 1978 | 20.8% | -3.8% |
| 1979 | 22.5% | +8.0% |
| 1980 | 23.3% | +3.7% |
| 1981 | 18.2% | -21.9% |
| 1982 | 20.2% | +10.8% |
| 1983 | 21.2% | +5.1% |
| 1984 | 21.6% | +1.9% |
| 1985 | 24.5% | +13.4% |
| 1986 | 24.3% | -0.6% |
| 1987 | 25.6% | +5.4% |
| 1988 | 27.3% | +6.6% |
| 1989 | 33.7% | +23.4% |
| 1990 | 33.1% | -1.8% |
| 1991 | 35.6% | +7.4% |
| 1992 | 36.9% | +3.8% |
| 1993 | 38.1% | +3.2% |
| 1994 | 36.4% | -4.4% |
| 1995 | 36.1% | -0.8% |
| 1996 | 35.8% | -0.9% |
| 1997 | 36.1% | +0.7% |
| 1998 | 37.0% | +2.6% |
| 1999 | 40.3% | +9.0% |
| 2000 | 41.0% | +1.7% |
| 2001 | 41.8% | +1.8% |
| 2002 | 45.2% | +8.3% |
| 2003 | 54.0% | +19.5% |
| 2004 | 55.5% | +2.6% |
| 2005 | 65.7% | +18.5% |
| 2006 | 91.5% | +39.3% |
| 2007 | 86.8% | -5.2% |
| 2008 | 98.1% | +13.1% |
| 2009 | 96.1% | -2.1% |
| 2010 | 82.7% | -14.0% |
| 2011 | 84.5% | +2.2% |
| 2012 | 76.9% | -9.0% |
| 2013 | 75.3% | -2.1% |
| 2014 | 76.1% | +1.1% |
| 2015 | 72.4% | -4.8% |
| 2016 | 63.2% | -12.7% |
| 2017 | 63.0% | -0.3% |
| 2018 | 62.6% | -0.6% |
| 2019 | 62.5% | -0.3% |
| 2020 | 69.6% | +11.5% |
| 2021 | 70.2% | +0.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 33.4% | 28.1% | 37.8% | 10 |
| 1970s | 26.1% | 20.8% | 34.2% | 10 |
| 1980s | 24.0% | 18.2% | 33.7% | 10 |
| 1990s | 36.5% | 33.1% | 40.3% | 10 |
| 2000s | 67.6% | 41.0% | 98.1% | 10 |
| 2010s | 71.9% | 62.5% | 84.5% | 10 |
| 2020s | 69.9% | 69.6% | 70.2% | 2 |
Countries ranked near Iceland
More financial sector data for Iceland
- Total reserves in months of imports, annual growth rate 10.27 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 15.36 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.1281 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 12,597 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 13.81 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 13,870 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 15 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 14,388 SDR per person (2025)
Frequently asked questions
- What is financial system deposits to gdp in Iceland?
- Financial system deposits to gdp in Iceland was 70.2% in 2021, according to International Financial Statistics (IFS), International Monetary Fund (IMF).
- What is the highest financial system deposits to gdp recorded in Iceland?
- The highest recorded value was 98.1% in 2008.
- What is the lowest financial system deposits to gdp recorded in Iceland?
- The lowest recorded value was 18.2% in 1981.
- How does Iceland rank for financial system deposits to gdp?
- Iceland ranks 69th out of 185 countries with data for 2021.
- Is financial system deposits to gdp rising or falling in Iceland?
- Over the last ten years it is down 17.0%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Financial Statistics (IFS), International Monetary Fund (IMF), published as part of Financial system deposits to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Demand, time and saving deposits in deposit money banks and other financial institutions as a share of GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is demand and time and saving deposits, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF’s International Financial Statistics. Financial system deposits (IFS lines 24, 25, 44, and 45); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and average annual CPI is calculated using the monthly CPI values (IFS line 64M..ZF).