Preliminary estimates for 2017 show that the GDP per capita in Iceland was 30% above the EU28 average. Iceland ranked in 5th place of the 37 participating European* countries as in the previous year. According to the same data the GDP volume per capita was highest in Luxembourg, 153% above the EU28 average, followed by Ireland where it was 81% above the EU28 average. A large number of people work in Luxembourg but live elsewhere. These people contribute to the GDP but are not included in the resident population.
According to final figures for year 2015, GDP volume per capita (based on PPP) in Iceland was 26% above the EU28 average, Iceland had the 8th highest GDP per capita of the 37 participating European countries.
GDP volume per capita in 2015 was highest in Luxembourg, 166% above the EU28 average, followed by Ireland which was 78% above the EU28 average.
Preliminary estimates for 2017 indicate that the volume of Actual Individual Consumption in Iceland was 17% higher than the EU28 average with Iceland ranking in 6th place of the 37 countries.
According to final figures for 2015 Actual Individual Consumption per capita in Iceland was 16% above the EU28 average. Iceland ranked in 7th place of the 37 countries with Luxembourg leading, 40% above EU28.
Statistics Iceland is in cooperation with Eurostat and OECD in the production of Purchasing Power Parities (PPP) in order to evaluate GDP volume indices on a regular basis in the participating countries. The 37 European countries are EU28, Iceland, Norway, Switzerland, Turkey, Montenegro, Serbia, Bosnia-Herzegovina, Albania and Former Yugoslavian Republic of Macedoni.