GDP volume per capita (based on PPP's) in Iceland was 15% above the EU28 average in 2012 (final figures). Iceland had the 12th highest GDP per capita of the 37 participating European countries (EU28, Iceland, Norway, Switzerland, Turkey, Montenegro, Serbia, Bosnia-Herzegovina, Albania and Former Yugoslavian Republic of Macedonia).
GDP volume per capita was highest in Luxembourg, 159% above the EU28 average, followed by Norway where GDP was 87% above the EU28 average. It should be kept in mind that a large number of foreign residents are employed in Luxembourg and thus contribute to its GDP, while at the same time they are not included in the resident population.
Preliminary estimates for 2014 indicate that the GDP per capita in Iceland was 19% above the EU28 average and Iceland ranked in 10th to 11th place. According to same data the GDP volume per capita was highest in Luxembourg, 166% above the EU28 average, followed by Norway where GDP volume per capita was 78% above the EU28 average.
Actual Individual Consumption per capita in Iceland was 13% above the EU28 average according to final figures for 2012. Iceland was ranked in 11th place of the 37 countries with Luxembourg leading the rank. According to preliminary estimates for the year 2014 the volume of Actual Individual Consumption in Iceland was 16% higher than the EU28 average with Iceland ranking in the 6th place of the 37 countries.
Statistics Iceland participates 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.
Eurostat news release