Loans from nonresident banks (amounts outstanding) to GDP in Iceland
Iceland: Loans from nonresident banks (amounts outstanding) to GDP was 55.5% in 2021. ◆ Volatile
Loans from nonresident banks (amounts outstanding) to GDP in Iceland, 1962–2021
Source: Bank for International Settlements (BIS). Measured in %.
Analysis
The most recent figure for loans from nonresident banks (amounts outstanding) to gdp in Iceland is 55.5%, measured in 2021.
The figure is down 10.1% on the previous year and down 75.8% over ten years.
Over the whole period, loans from nonresident banks (amounts outstanding) to gdp in Iceland peaked at 389.1% in 2009 and was at its lowest, 0.8%, in 1967.
Iceland ranks 24th of 136 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Loans from nonresident banks (amounts outstanding) to GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1962 | 2.1% | — |
| 1963 | 1.8% | -16.2% |
| 1964 | 1.4% | -21.7% |
| 1965 | 1.1% | -17.1% |
| 1966 | 1.0% | -16.7% |
| 1967 | 0.8% | -15.6% |
| 1968 | 2.1% | +161.9% |
| 1969 | 2.4% | +14.4% |
| 1970 | 1.9% | -21.3% |
| 1971 | 3.0% | +57.2% |
| 1972 | 6.1% | +103.6% |
| 1973 | 6.2% | +1.3% |
| 1974 | 6.5% | +6.2% |
| 1975 | 8.2% | +25.1% |
| 1976 | 9.2% | +12.1% |
| 1977 | 11.4% | +24.5% |
| 1978 | 12.1% | +6.4% |
| 1979 | 11.1% | -8.8% |
| 1980 | 9.3% | -15.6% |
| 1981 | 9.2% | -1.7% |
| 1982 | 10.7% | +16.1% |
| 1983 | 15.1% | +41.7% |
| 1984 | 13.2% | -12.4% |
| 1985 | 24.1% | +82.4% |
| 1986 | 27.9% | +15.5% |
| 1987 | 30.7% | +10.1% |
| 1988 | 29.7% | -3.1% |
| 1989 | 41.1% | +38.3% |
| 1990 | 44.0% | +7.1% |
| 1991 | 42.9% | -2.4% |
| 1992 | 46.5% | +8.4% |
| 1993 | 68.8% | +47.8% |
| 1994 | 74.0% | +7.6% |
| 1995 | 71.2% | -3.9% |
| 1996 | 68.8% | -3.3% |
| 1997 | 61.6% | -10.5% |
| 1998 | 68.8% | +11.6% |
| 1999 | 76.3% | +11.0% |
| 2000 | 95.5% | +25.2% |
| 2001 | 123.8% | +29.7% |
| 2002 | 127.1% | +2.7% |
| 2003 | 151.6% | +19.2% |
| 2004 | 213.6% | +40.9% |
| 2005 | 255.0% | +19.4% |
| 2006 | 330.9% | +29.7% |
| 2007 | 310.1% | -6.3% |
| 2008 | 322.7% | +4.1% |
| 2009 | 389.1% | +20.6% |
| 2010 | 301.9% | -22.4% |
| 2011 | 229.5% | -24.0% |
| 2012 | 168.7% | -26.5% |
| 2013 | 130.7% | -22.5% |
| 2014 | 110.4% | -15.5% |
| 2015 | 91.9% | -16.7% |
| 2016 | 64.9% | -29.5% |
| 2017 | 64.5% | -0.6% |
| 2018 | 58.1% | -9.9% |
| 2019 | 56.7% | -2.4% |
| 2020 | 61.8% | +8.9% |
| 2021 | 55.5% | -10.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.6% | 0.8% | 2.4% | 8 |
| 1970s | 7.6% | 1.9% | 12.1% | 10 |
| 1980s | 21.1% | 9.2% | 41.1% | 10 |
| 1990s | 62.3% | 42.9% | 76.3% | 10 |
| 2000s | 231.9% | 95.5% | 389.1% | 10 |
| 2010s | 127.7% | 56.7% | 301.9% | 10 |
| 2020s | 58.7% | 55.5% | 61.8% | 2 |
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 loans from nonresident banks (amounts outstanding) to gdp in Iceland?
- Loans from nonresident banks (amounts outstanding) to gdp in Iceland was 55.5% in 2021, according to Bank for International Settlements (BIS).
- What is the highest loans from nonresident banks (amounts outstanding) to gdp recorded in Iceland?
- The highest recorded value was 389.1% in 2009.
- What is the lowest loans from nonresident banks (amounts outstanding) to gdp recorded in Iceland?
- The lowest recorded value was 0.8% in 1967.
- How does Iceland rank for loans from nonresident banks (amounts outstanding) to gdp?
- Iceland ranks 24th out of 136 countries with data for 2021.
- Is loans from nonresident banks (amounts outstanding) to gdp rising or falling in Iceland?
- Over the last ten years it is down 75.8%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Bank for International Settlements (BIS), published as part of Loans from nonresident banks (amounts outstanding) to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Ratio of outstanding offshore bank loans to GDP. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. Offshore bank loan data from BIS Statistical Appendix Table 7A: External loans and deposits of reporting banks vis-à-vis all sectors.