Productivity: output per hour worked in Iceland
Iceland: Productivity: output per hour worked was 75.65 international-$ in 2021 prices per hour in 2023. ▲ Rising
Latest (2023)
75.65 international-$ in 2021 prices per hour
Change on year
up 2.8%
World rank
14th
of 130 countries
All-time high
75.65 international-$ in 2021 prices per hour
in 2023
All-time low
20.34 international-$ in 2021 prices per hour
in 1964
Years of data
60
1964–2023
Productivity: output per hour worked in Iceland, 1964–2023
Source: Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices per hour.
Analysis
Iceland recorded 75.65 international-$ in 2021 prices per hour for productivity: output per hour worked in 2023. That is the highest value across all 60 years on record.
Compared with earlier readings it is up 2.8% on the previous year and up 22.9% over ten years.
Over the whole period, productivity: output per hour worked in Iceland peaked at 75.65 international-$ in 2021 prices per hour in 2023 and was at its lowest, 20.34 international-$ in 2021 prices per hour, in 1964.
That places Iceland 14th out of 130 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 60 years of available data.
Productivity: output per hour worked in Iceland, year by year
| Year | international-$ in 2021 prices per hour | Change |
|---|---|---|
| 1964 | 20.34 international-$ in 2021 prices per hour | — |
| 1965 | 21.52 international-$ in 2021 prices per hour | +5.8% |
| 1966 | 22.55 international-$ in 2021 prices per hour | +4.8% |
| 1967 | 22.31 international-$ in 2021 prices per hour | -1.1% |
| 1968 | 20.88 international-$ in 2021 prices per hour | -6.4% |
| 1969 | 22.07 international-$ in 2021 prices per hour | +5.7% |
| 1970 | 23.01 international-$ in 2021 prices per hour | +4.3% |
| 1971 | 26.77 international-$ in 2021 prices per hour | +16.3% |
| 1972 | 26.28 international-$ in 2021 prices per hour | -1.8% |
| 1973 | 28.78 international-$ in 2021 prices per hour | +9.5% |
| 1974 | 30.31 international-$ in 2021 prices per hour | +5.3% |
| 1975 | 30.38 international-$ in 2021 prices per hour | +0.2% |
| 1976 | 29.89 international-$ in 2021 prices per hour | -1.6% |
| 1977 | 34.31 international-$ in 2021 prices per hour | +14.8% |
| 1978 | 35.74 international-$ in 2021 prices per hour | +4.2% |
| 1979 | 37.36 international-$ in 2021 prices per hour | +4.5% |
| 1980 | 38.64 international-$ in 2021 prices per hour | +3.4% |
| 1981 | 38.77 international-$ in 2021 prices per hour | +0.4% |
| 1982 | 39.02 international-$ in 2021 prices per hour | +0.6% |
| 1983 | 35.21 international-$ in 2021 prices per hour | -9.8% |
| 1984 | 38.11 international-$ in 2021 prices per hour | +8.2% |
| 1985 | 36.49 international-$ in 2021 prices per hour | -4.2% |
| 1986 | 38.73 international-$ in 2021 prices per hour | +6.1% |
| 1987 | 40.92 international-$ in 2021 prices per hour | +5.7% |
| 1988 | 43.45 international-$ in 2021 prices per hour | +6.2% |
| 1989 | 42.24 international-$ in 2021 prices per hour | -2.8% |
| 1990 | 42.87 international-$ in 2021 prices per hour | +1.5% |
| 1991 | 43.61 international-$ in 2021 prices per hour | +1.7% |
| 1992 | 41.84 international-$ in 2021 prices per hour | -4.1% |
| 1993 | 42.2 international-$ in 2021 prices per hour | +0.9% |
| 1994 | 43.96 international-$ in 2021 prices per hour | +4.2% |
| 1995 | 43.03 international-$ in 2021 prices per hour | -2.1% |
| 1996 | 43.59 international-$ in 2021 prices per hour | +1.3% |
| 1997 | 46.92 international-$ in 2021 prices per hour | +7.6% |
| 1998 | 47.92 international-$ in 2021 prices per hour | +2.1% |
| 1999 | 50.04 international-$ in 2021 prices per hour | +4.4% |
| 2000 | 47.93 international-$ in 2021 prices per hour | -4.2% |
| 2001 | 49.14 international-$ in 2021 prices per hour | +2.5% |
| 2002 | 51.29 international-$ in 2021 prices per hour | +4.4% |
| 2003 | 50.94 international-$ in 2021 prices per hour | -0.7% |
| 2004 | 54 international-$ in 2021 prices per hour | +6.0% |
| 2005 | 54.4 international-$ in 2021 prices per hour | +0.7% |
| 2006 | 49.62 international-$ in 2021 prices per hour | -8.8% |
| 2007 | 50.89 international-$ in 2021 prices per hour | +2.6% |
| 2008 | 58.01 international-$ in 2021 prices per hour | +14.0% |
| 2009 | 65.13 international-$ in 2021 prices per hour | +12.3% |
| 2010 | 62.33 international-$ in 2021 prices per hour | -4.3% |
| 2011 | 62.35 international-$ in 2021 prices per hour | +0.0% |
| 2012 | 64.15 international-$ in 2021 prices per hour | +2.9% |
| 2013 | 61.57 international-$ in 2021 prices per hour | -4.0% |
| 2014 | 61.28 international-$ in 2021 prices per hour | -0.5% |
| 2015 | 61.87 international-$ in 2021 prices per hour | +1.0% |
| 2016 | 59.73 international-$ in 2021 prices per hour | -3.5% |
| 2017 | 59.63 international-$ in 2021 prices per hour | -0.2% |
| 2018 | 60.94 international-$ in 2021 prices per hour | +2.2% |
| 2019 | 69.4 international-$ in 2021 prices per hour | +13.9% |
| 2020 | 68.75 international-$ in 2021 prices per hour | -0.9% |
| 2021 | 71.42 international-$ in 2021 prices per hour | +3.9% |
| 2022 | 73.58 international-$ in 2021 prices per hour | +3.0% |
| 2023 | 75.65 international-$ in 2021 prices per hour | +2.8% |
Iceland compared with similar countries
- Iceland's 75.65 international-$ in 2021 prices per hour is above the median for high income countries, which is 51.52 international-$ in 2021 prices per hour, 1.5× the median. (51 countries reporting)
- Iceland's 75.65 international-$ in 2021 prices per hour is above the median for Europe & Central Asia, which is 46.15 international-$ in 2021 prices per hour, 1.6× the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 21.61 international-$ in 2021 prices per hour | 20.34 international-$ in 2021 prices per hour | 22.55 international-$ in 2021 prices per hour | 6 |
| 1970s | 30.28 international-$ in 2021 prices per hour | 23.01 international-$ in 2021 prices per hour | 37.36 international-$ in 2021 prices per hour | 10 |
| 1980s | 39.16 international-$ in 2021 prices per hour | 35.21 international-$ in 2021 prices per hour | 43.45 international-$ in 2021 prices per hour | 10 |
| 1990s | 44.6 international-$ in 2021 prices per hour | 41.84 international-$ in 2021 prices per hour | 50.04 international-$ in 2021 prices per hour | 10 |
| 2000s | 53.13 international-$ in 2021 prices per hour | 47.93 international-$ in 2021 prices per hour | 65.13 international-$ in 2021 prices per hour | 10 |
| 2010s | 62.32 international-$ in 2021 prices per hour | 59.63 international-$ in 2021 prices per hour | 69.4 international-$ in 2021 prices per hour | 10 |
| 2020s | 72.35 international-$ in 2021 prices per hour | 68.75 international-$ in 2021 prices per hour | 75.65 international-$ in 2021 prices per hour | 4 |
Countries ranked near Iceland
- 11 Sweden 80.74 international-$ in 2021 prices per hour compare
- 12 France 77.67 international-$ in 2021 prices per hour compare
- 13 Australia 76.78 international-$ in 2021 prices per hour compare
- 15 Finland 69.63 international-$ in 2021 prices per hour compare
- 16 Qatar 69.42 international-$ in 2021 prices per hour compare
- 17 United Kingdom 68.03 international-$ in 2021 prices per hour compare
More work & labour data for Iceland
- Population - Est. & Proj. — Total Population - Both sexes, annual -0.4964 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Male, annual growth -0.4501 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Female, annual growth -0.5492 % change on previous year (2100)
- Population - Est. & Proj. — Rural population, annual growth rate -1.37 % change on previous year (2050)
- Population - Est. & Proj. — Urban population, annual growth rate 0.2312 % change on previous year (2050)
- Population - Est. & Proj. — Urban population 373.77 1000 No (2050)
- Population - Est. & Proj. — Rural population 16.3 1000 No (2050)
- Population - Est. & Proj. — Total Population - Female 169.5 1000 No (2100)
- Population - Est. & Proj. — Total Population - Male 193.08 1000 No (2100)
- Population - Est. & Proj. — Total Population - Both sexes 362.58 1000 No (2100)
Frequently asked questions
- What is productivity: output per hour worked in Iceland?
- Productivity: output per hour worked in Iceland was 75.65 international-$ in 2021 prices per hour in 2023, according to Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest productivity: output per hour worked recorded in Iceland?
- The highest recorded value was 75.65 international-$ in 2021 prices per hour in 2023.
- What is the lowest productivity: output per hour worked recorded in Iceland?
- The lowest recorded value was 20.34 international-$ in 2021 prices per hour in 1964.
- How does Iceland rank for productivity: output per hour worked?
- Iceland ranks 14th out of 130 countries with data for 2023.
- Is productivity: output per hour worked rising or falling in Iceland?
- Over the last ten years it is up 22.9%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data, published as part of Productivity: output per hour worked. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Productivity is calculated as GDP divided by the total number of hours worked in the economy. This data is adjusted for inflation and differences in living costs between countries.