Outstanding Loans, Commercial Banks, of Which: Household Sector Loans in Iceland
Iceland: Outstanding Loans, Commercial Banks, of Which: Household Sector Loans was 2.19 trillion in 2024. ▲ Rising
Outstanding Loans, Commercial Banks, of Which: Household Sector Loans in Iceland, 2004–2024
Source: International Monetary Fund.
Analysis
In 2024, outstanding loans, commercial banks, of which: household sector loans in Iceland stood at 2.19 trillion. That is the highest value across all 21 years on record.
Compared with earlier readings it is up 5.9% on the previous year and up 147.0% over ten years.
Over the whole period, outstanding loans, commercial banks, of which: household sector loans in Iceland peaked at 2.19 trillion in 2024 and was at its lowest, 305.84 billion, in 2004.
That places Iceland 31st out of 134 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 21 years of available data.
Outstanding Loans, Commercial Banks, of Which: Household Sector Loans in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 305.84 billion | — |
| 2005 | 544.42 billion | +78.0% |
| 2006 | 707.53 billion | +30.0% |
| 2007 | 836.67 billion | +18.3% |
| 2008 | 786.73 billion | -6.0% |
| 2009 | 719.31 billion | -8.6% |
| 2010 | 737.28 billion | +2.5% |
| 2011 | 792.32 billion | +7.5% |
| 2012 | 797.11 billion | +0.6% |
| 2013 | 865.07 billion | +8.5% |
| 2014 | 887.45 billion | +2.6% |
| 2015 | 907.67 billion | +2.3% |
| 2016 | 951.10 billion | +4.8% |
| 2017 | 1.02 trillion | +7.3% |
| 2018 | 1.13 trillion | +11.1% |
| 2019 | 1.18 trillion | +4.4% |
| 2020 | 1.47 trillion | +24.6% |
| 2021 | 1.81 trillion | +22.5% |
| 2022 | 1.98 trillion | +9.9% |
| 2023 | 2.07 trillion | +4.3% |
| 2024 | 2.19 trillion | +5.9% |
Iceland compared with similar countries
- Iceland's 2.19 trillion is above the median for high income countries, which is 248.79 billion, 8.8× the median. (52 countries reporting)
- Iceland's 2.19 trillion is above the median for Europe & Central Asia, which is 271.67 billion, 8.1× the median. (46 countries reporting)
Biggest year-on-year movements
Years where Outstanding Loans, Commercial Banks, of Which: Household Sector Loans in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +78.0% | 305.84 billion | 544.42 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 650.08 billion | 305.84 billion | 836.67 billion | 6 |
| 2010s | 927.67 billion | 737.28 billion | 1.18 trillion | 10 |
| 2020s | 1.91 trillion | 1.47 trillion | 2.19 trillion | 5 |
Countries ranked near Iceland
- 28 Czechia 2.38 trillion compare
- 29 Australia 2.34 trillion compare
- 30 South Africa 2.33 trillion compare
- 32 Serbia 1.94 trillion compare
- 33 Democratic Republic of Congo 1.67 trillion compare
- 34 United Kingdom 1.65 trillion compare
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 outstanding loans, commercial banks, of which: household sector loans in Iceland?
- Outstanding loans, commercial banks, of which: household sector loans in Iceland was 2.19 trillion in 2024, according to International Monetary Fund.
- What is the highest outstanding loans, commercial banks, of which: household sector loans recorded in Iceland?
- The highest recorded value was 2.19 trillion in 2024.
- What is the lowest outstanding loans, commercial banks, of which: household sector loans recorded in Iceland?
- The lowest recorded value was 305.84 billion in 2004.
- How does Iceland rank for outstanding loans, commercial banks, of which: household sector loans?
- Iceland ranks 31st out of 134 countries with data for 2024.
- Is outstanding loans, commercial banks, of which: household sector loans rising or falling in Iceland?
- Over the last ten years it is up 147.0%. 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 Outstanding Loans, Commercial Banks, of Which: Household Sector Loans. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 21 observations, free to reuse under IMF Terms and Conditions (attribution required).
About this data
Gender-disaggregated data on access to and use of financial services.