Remittance inflows to GDP in Iceland
Iceland: Remittance inflows to GDP was 0.8% in 2020. ◆ Volatile
Remittance inflows to GDP in Iceland, 1976–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
The most recent figure for remittance inflows to gdp in Iceland is 0.8%, measured in 2020.
Compared with earlier readings it is up 2.9% on the previous year and down 22.7% over ten years.
Over the whole period, remittance inflows to gdp in Iceland peaked at 1.3% in 2013 and was at its lowest, 0.0%, in 1982.
Iceland ranks 132nd of 195 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.1% | 0.1% | 0.1% | 4 |
| 1980s | 0.2% | 0.0% | 0.5% | 10 |
| 1990s | 0.7% | 0.3% | 1.0% | 10 |
| 2000s | 0.5% | 0.4% | 0.7% | 10 |
| 2010s | 1.0% | 0.7% | 1.3% | 10 |
| 2020s | 0.8% | 0.8% | 0.8% | 1 |
Countries ranked near Iceland
More financial sector data for Iceland
- Domestic credit to private sector by banks 89.2% (2025)
- Total reserves in months of imports 5.32 (2025)
- Net domestic credit 4.57 trillion current LCU (2025)
- Net foreign assets 397.39 billion current LCU (2025)
- Monetary Sector credit to private sector 89.2% (2025)
- Broad money 67.4% (2024)
- Claims on central government, etc. -3.9% (2025)
- Domestic credit to private sector 89.2% (2025)
- Official exchange rate 128.44 LCU per US$, period average (2025)
- Net migration 2,709 (2025)
Frequently asked questions
- What is remittance inflows to gdp in Iceland?
- Remittance inflows to gdp in Iceland was 0.8% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Iceland?
- The highest recorded value was 1.3% in 2013.
- What is the lowest remittance inflows to gdp recorded in Iceland?
- The lowest recorded value was 0.0% in 1982.
- How does Iceland rank for remittance inflows to gdp?
- Iceland ranks 132nd out of 195 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Iceland?
- Over the last ten years it is down 22.7%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.