Loans from nonresident banks (net) to GDP in Iceland
Iceland: Loans from nonresident banks (net) to GDP was 1.6% in 2021. ◆ Volatile
Loans from nonresident banks (net) to GDP in Iceland, 1962–2021
Source: Bank for International Settlements (BIS). Measured in %.
Analysis
In 2021, loans from nonresident banks (net) to gdp in Iceland stood at 1.6%.
The figure is up 228.0% on the previous year and up 106.3% over ten years.
Over the whole period, loans from nonresident banks (net) to gdp in Iceland peaked at 37.4% in 2006 and was at its lowest, -24.6%, in 2011.
Iceland ranks 18th of 98 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 (net) to GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1962 | 2.1% | — |
| 1972 | 1.2% | -43.4% |
| 1973 | 1.4% | +16.4% |
| 1974 | 1.1% | -23.8% |
| 1975 | 1.0% | -5.8% |
| 1976 | 0.5% | -51.8% |
| 1977 | 0.8% | +60.6% |
| 1980 | 0.3% | -57.7% |
| 1981 | -0.3% | -179.2% |
| 1982 | -0.4% | +69.4% |
| 1983 | 0.6% | -240.8% |
| 1984 | -0.1% | -122.7% |
| 1985 | 5.8% | -4275.6% |
| 1986 | 1.0% | -82.8% |
| 1987 | 0.5% | -49.4% |
| 1988 | 1.2% | +145.4% |
| 1989 | 2.3% | +88.4% |
| 1990 | 2.3% | +0.2% |
| 1991 | 0.5% | -80.3% |
| 1992 | -0.4% | -176.2% |
| 1993 | 3.3% | -1029.2% |
| 1994 | -0.3% | -110.0% |
| 1995 | -1.3% | +292.9% |
| 1996 | -3.3% | +152.3% |
| 1997 | -0.2% | -94.7% |
| 1998 | 7.6% | -4502.9% |
| 1999 | 2.5% | -67.5% |
| 2000 | 8.3% | +238.6% |
| 2001 | 7.2% | -13.7% |
| 2002 | 2.0% | -71.9% |
| 2003 | 15.1% | +648.5% |
| 2004 | 20.5% | +35.8% |
| 2005 | 30.9% | +50.8% |
| 2006 | 37.4% | +21.0% |
| 2007 | 3.8% | -89.9% |
| 2008 | -14.8% | -491.6% |
| 2009 | -23.1% | +56.4% |
| 2010 | -22.2% | -3.9% |
| 2011 | -24.6% | +10.9% |
| 2012 | -14.9% | -39.5% |
| 2013 | -1.6% | -89.5% |
| 2014 | -2.1% | +33.8% |
| 2015 | 2.6% | -223.8% |
| 2016 | -3.4% | -232.8% |
| 2017 | 2.1% | -159.7% |
| 2018 | -0.5% | -126.4% |
| 2019 | -3.4% | +525.2% |
| 2020 | 0.5% | -113.9% |
| 2021 | 1.6% | +228.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.1% | 2.1% | 2.1% | 1 |
| 1970s | 1.0% | 0.5% | 1.4% | 6 |
| 1980s | 1.1% | -0.4% | 5.8% | 10 |
| 1990s | 1.1% | -3.3% | 7.6% | 10 |
| 2000s | 8.7% | -23.1% | 37.4% | 10 |
| 2010s | -6.8% | -24.6% | 2.6% | 10 |
| 2020s | 1.0% | 0.5% | 1.6% | 2 |
Countries ranked near Iceland
More financial sector data for Iceland
- Net domestic credit (current LCU), per capita 11.64 million current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 118.35 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 4.25 % change on previous year (2025)
- Gold reserves at 35 SDRs per ounce 2.23 million SDR (2025)
- Gold reserves at market value 203.48 million SDR (2025)
- Reserves excluding gold, foreign exchange 4.94 billion SDR (2025)
- Reserves excluding gold 5.44 billion SDR (2025)
- Total reserves (gold at market value) 5.65 billion SDR (2025)
- Total reserves (gold at national valuation) 5.64 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 14,384 SDR per person (2025)
Frequently asked questions
- What is loans from nonresident banks (net) to gdp in Iceland?
- Loans from nonresident banks (net) to gdp in Iceland was 1.6% in 2021, according to Bank for International Settlements (BIS).
- What is the highest loans from nonresident banks (net) to gdp recorded in Iceland?
- The highest recorded value was 37.4% in 2006.
- What is the lowest loans from nonresident banks (net) to gdp recorded in Iceland?
- The lowest recorded value was -24.6% in 2011.
- How does Iceland rank for loans from nonresident banks (net) to gdp?
- Iceland ranks 18th out of 98 countries with data for 2021.
- Is loans from nonresident banks (net) to gdp rising or falling in Iceland?
- Over the last ten years it is up 106.3%. 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 (net) to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Ratio of net 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 12A (Net Issues): International debt securities - all issuers.